The evening world. Newspaper, August 16, 1922, Page 17

SEE EXPLANATION OF KICKS” ABOUT CHARGE FOR PHONE Meter Which Counts Calls Explained to Commission by Official. The reason why sub- seribers generally find that they are charged in their monthiy bills with more culls than they reasonably certain they made was explained to- day in a hearing before Charles G Blakeslee, Public Service Commir- sioner, on the affairs of the New York Telephone Co. This hearing, which covers the entire state will develop testimony will be telephone are upon which rates determined §. Grace, consulting the company, produced a machine on the order of a speedometer by which engineer of calls are registered in central ex- changes. Under cross-examination by M. M, Fertig, Assistant Corpora- tion Counsel, Mr. Grace admitted that the calls are charged up as soon as they are answered, but that the machine registers whether the right number or the worng number is given Mr. Grace insisted that in case a wrong number is switched on and a charge is made, a credit slip is sent to the accounting department. He admitted that the operator might neg- lect to make out the credit slip, but said she might also forget to push the button which registers the call. Testimony was taken in the matter of valuation of the company’s build- ings in which it was brought out that in many instances where the com- pany has built larger buildings than are needed for its purposes in antici- pation of growing business, space is rented to others. H. A. Trax, chief accountant, said that this rent is ac counted for as revenue in all financial statements of the company. The company maintains a convales cent home known as Sherwood Hall, near Warkick, N. Y., for girl opera tors who become ill, They pay $1 a week odations. her- wood Camp, nearby, is a vacation camp which filled all summer with girls who pay $15 a week PLANE HOPS OFF ON 8,000-MILE FLIGHT 10 BRAZIL (Continued from First Page.) again a few minutes arriving there But tow aly an pounced that the stop-off at Roc away would be for at least two day and perhaps three. Repairs had been made to the big ship following her er te yesterday afternoon with an empty lemon crate n e landed on he flight from the Nav Alt Station, ut it was given 0 t Walter Hinton, com- mander of the craft, was not at all fatisfied with what had been done, It was intimated that repairs of a more permanent nature would have to be made hefore the seaplane starts off on Ada! Adv Ad Alited Chem Allis. Chalmers Am Am Am An Am Am Am Am Am Am Am Am Am Am An Am Am Am Am Am Am am Am Am Am Am Am Am Am Am Am AW Am Am Am Anaconda All Am Metat Ann Arbor pf Asso Dry Goody Atchison Atchison pf Atl Birm & At! Atl Coast Line Atl Fruit Atl Guif &@ Wd Atlantic Fruit ote 194 Bald 14 ‘ Baltimore & Bari Beth beth 8 Brit Brow Bklyn Rap Bkiyn RT cts Burns Lron A Bur Butte Cad 1 cht cht chi cht cCRIGP ent Chino Coppe ac Del Deb Fan Fam Fisk Ru Freeport her periions journey from North to South America Commander Hinton was at the con trols when the Sampaio Correia took off and in the cockpil with him were Dr. FE. Pinto Martins, stant pilot and navigator; John Wilschusen, me chanician; George T. Bye, reporter for The World, and J. Thomas Balzelt, Pathe News photographer. All were in high spirits when they waved farewell to their relatives and friends on the landing places along the shore The hop-off had tw be post - poned as the result of the damage done to the big ship when she landed yesterday. It originally had been Planned to take off at daybreak, but @ postponement was taken until 10 ofelock this morning and at that hour {t was announced that another short Postponement was necessary. The second delay was the result largely of an 18-mile headwind that we blowing at that hor Commander Hinton and Dr. Mar tins remained at the ship un 2.39 this morning supervising repairs and were back at an carly hour after a short sleep which struck The punctured pontoon, an empty lemon crate when the flying boat landed yester day, had been fixed and a patch had been put on the torn wing. The only repairs remaining to be done at o'clock was another coat of paint o} this patch Meehanicians of the Aeromarine Airways, at whose landing float the Sampaio Correia is tethered, worked feverishly all through the nisht to pre pare the big ship for its take-off These included H. R. Thompson, Harold McCann and A. Niggard. Working with them were D. F. Tres- sler and Thomas Pell, from Phiindel- phia, former associates of Dr. Martins in that city —_ MOTOROCYCLE COP HURT CHASIN SDER. While chasing a speeder last night, Motore. Policeman Dennis J. Ha rington of No. 98 Lincoln Stredt, Flush- tng, attached to Squad No. 2, collided with an automobile driven by Marcus Selgel of No. 93 Blake Avenue, Brook- lyn, The accident occurred in’ Bastern Parkway at Avenue, Har- rington was an ambulance wgeon for of the left shoulder and of the left hand, and went home. Selgel was sum- moned for alleged reckless driving alrbankr & Co STOCK QUOTATIONS Open. High. ma Exprens 7% ance Rumely 22% Rumely pf Ag Chem Ag Chem pf Hank Note Bk Note pf Brake Shoe Can Cotton Ol Cotton O11 pt Drug Syndi He L pt lee Int Corp La France... Linseed O11 Lin OW pt Locomotive Loco pf Radiator 119 11814 114% Safety Razor 7 Ship & Com, 18 80% 4 41 Smelt & Ret Sm & fet pt ten! Foundry Stl Found pt Sugar Sumatra Tel & Cai ‘Te! & Tol Tobacco B... 148% W Wks & El 14% WAH! pf 6 pe 41% Wool My Wr Paper pf 33 Zine nedale A Steel B 1 pf 7 pe el. WN Emp 8 wd pl ary pkiyn Bi 110% ne do Ol! Packing Petroleum Mil & St Paul Mil & St P pt & Northwin RL& Pac spe pt je Copper 1 Ch & StL. Iron hern & Hudson .. 12 l nous Players nous Play's pf her Texar Am T’k Car Asphalt me Motors Motors pt cut North pf 88% Great Nor Ore ct# 40 41%y Guan Sugar «4 a Gulf State Steel Hudson Motors Hendee Homestake Min. Houston Olt Hupp Motors Hydraulic Steel . Inspir Inte! » Paper int Invinetble ¢ Lehigh Valley Lima Loco Loew's, Inc Loft, Inc Louls & Nash Mother Lode atyre TP Mines Mack Truck Ine Mallinson & Co. a5 Man Elevated 41 Man Shirt 37% Market Bt Ry 8 Mar St Ry pr pf 64% Marland O8 aT Mathieson Al... 46 Mex Seaboard 20% Mex Seaboard ct. Ihty Maxwell Mot a Maxwell Mot B May Dept Stores Mexican fF 1734 Miam) Copper ) tman Corp ols Central tuhoma Retin ton Cop.. Cons Corp Corp pf Agr Chem Agr Chem pf 1 Harvesters © Mer M: Mer Mar pf Ni yer pf Sta.. Products idle States ON uy THE EVENING WORLD, WEDNESDAY, | AUGUST 16, 1922. O'MALLEY REFUSES Low. Last. Open. High. Low, Last Midvale Steo! 35% 8M Minn @ St Louls u Mo Kana & Tex... ” 18M lo Pacific ... 22% Mo Pacific . oy Mont Ward “ws Manhattan ct 4% 1% % a 7 " National Bis. 182 288 (Continued from First Page.) Nat Cloak & Suit 58%, ay — a Nat En & Sta 58% 81% | of National Lead 10944 iveu fees from pushcart peddlers and NRW ot bt eet at 1, | their disposal, Nevada Consol 16% Commissioner O'Malley appeared in iit New Or! T & M. 0% the witness room at 10.30 o'clock. He at NY Central, 08% was not called before the jury for 13 N ¥ Dock Bt twenty minutes. In the interim he 20% s YNH4&H a1% unswered a number of questions by 36%, ‘or & Western Nt newspaper men, 119 ‘orth American “Te $286,000 @ year a clqne estimate UISTS) SIS Se | Ngee a tear of the amount of fees collected by 183 | North Amer rts market supervisors from pusheart peddiers?"’ he was asked. “Approximately so,"' was his reply. “You have said the payments be- gan & month ago to be made into the orthern Pacific Ohio Body & Blow Oklahoma Ref Orpheum Cireutt Otis Blevator Otis Steet sinking fund—how much has been Pacitic Develop. paid to date?’ Pacific Gaa & Bl “I don't know; I haven't my books Pueltic Olt with me.” Foshan eee “What hax become of money col- Penn RR lected before payments into the sink- Ponn Beaboard ing fund were begun?” “It has'been consumed by unemployed to work. Besides, we do not collect a fee from every one. When investigation shows a peddler to be very poor we don’t ask for a fee. Peoples Gax putting Pere Marquette Philadelphia Co Phillipa Pet Merce-Arrow Plerce-Arrow pf Renin “If the money was returned by the Site howe ta. supervisors to pay legitimate salaries i Creek and expenses, how do you account for m Cereal .. 83% the fact that there was no surplus up Steel Car 81 Producers & Refin 38 ub Ser of N J.. 80% Pub Ser of NJ.. Sig Pure OM 28% Ral} Steel Springs 10 Ray Consolidated 10% to a month ago, while there has been @ surplus for the last month?” “There was an ordinance enacted in July providing for the disposal of the surplus; then we made provision for dismissing unnecessary employees Heading and transferred the difference to the} Replogle Steel Finance Department.’' o Steel “Why are not supervisors appointed Reyn's Tob pf B from the civil service list?” Repubile Motors “The Civil Service Commissioners Royal Dusen are holding an examination now, but at i at Frat no lst has been produced as yet. The Wet eon law says that the men in office can continue filling their jobs until the list is produced O'Malley grew a bit St L & Soth pf Sterling Prod Saxon Motors heated when Beab Air Line pt a reporter asked him if he intended Sears-Roebuck . to sign the waiver of immunity. ug | anata ee “Why should 17" he asked. “TI Shattuck Ariz don't do. Beal tesla aren know what they are going to i fsinctar “on “This thing is all political,” he Southern Pacific added, “When I was before the Meyer Southern Ratlway Committee I was the only one to > Railway pe waive immunity, Then they demanded an OM of Cal Stan Oll of N J Ou of N J pt art-Warner Stromberg Car . that I answer ‘Yes’ or ‘No’ to ques- tions that couldn't be answered that way “T can't see I've done anything 8% 1 udebaker wrong.’ 8T uperior OU es ha er ornee ONLY $840 SHOWN Tenn Cap & Chem AS TOTAL SURPLUS oot cue OF MARKET FEES ‘ex Coal & O} cane SUS es O'Malley Admitted Amount as Toledo StL & Wh Should Be Near za eco Prod A $500,000 oe see Although Public Markets Commis- ot mw ' sioner O'Malley issued orders early oe oe Baternees in July that in future all surpluses Un Drug Ist pt collected by United Ry Invest his supervisors of fifty push cart markets be turned into the tn Ry Inv United Retl city treasury, up to this morning usBCT?P only twenty-eight markets had turned in financial statements and these showed a total surplus of only $840. The surplus returns are as follow: S Food Prod 3 Ind Alco 131 yy July 10 to 15, 14 markets $250.70 July 16 to 22, 23 markets 189.00 July 24 to 29, 20 markets. + 207.85 patie July 30 to Aug. 5, 18 marxets 192.75 Vanadium Steel... i) = Va Caro Chem . $840.30 Va Caro Chem pt Wabash RIL Not long ago Commissioner O'Mal ley admitted that the total collections Wabrah RR pt A from push cart peddlers was in the eek pantie neighborhood of $500,000 a yea Westinghouse Air Basing an average on this estimate it Westinghouse) will be seen that the supervisors are Wheeling & 1. E White Motors White OU Wickwire Stoel Overland Corp Overland C reaping 4 harvest. The sum of $500, 000 a year 1s about $42,000 a month Divide this among fifty supervisors and the allowance per supervisor | something like $840 a month This gives the supervisor about $210 & week, out of which to pay his own salary of $50 a week and his as pe it 4 41% 4 12) hing Pamp.. M1 Wright Aero oe 8% sistants at $85 a week, not to speak *Ex dividend. of the $25-a-week ‘laborers.’ One se must not forget the ‘‘laborers,"’ for LIBERTY BONDS- they are the alibis against surpluses liberty 3 458 opened 100.80; 2d Of course, the $210 a week its only 445, 100.48, up .02; 3d, 100.48; 4th, ]@m Mustrative Agure based on Com 101.18, off .02: Victory Loan 4 3-48, a called 100.46, up a 4%s, 100.92 BANKING AND FINANCIAL. CURB. Opened irregular. Nip., 61-8, up 1-8; Mutual, 97-8: Radio, 43-8, of 1-8; S. O. Ind, 110, up 3-8; Cit Serv., 190, off Mesaba, 12 1-8, up 1-4; Stutz, 238-4, up t-4; SO. Ky. 95 OREIC <CHANGE OPENING. Sterling, demand, 4.46 5-8; cables, 4.46 7-8, off 1-8. French franes de mand, 0797 1-2; cables, 0798, off .0798, 1 Lire, demand, .0455 1-2; cables 0456, off .000 1-2. Marks .000 3-3 off . 3elgian franes, demand, i eey cance, 0756, off 0004 1-2 letter on Durant Motors, Drachmas, demand, 0820; cables, discussing 08 Swiss f demand, .1908; cables, .1905. Guilders, demand, .3878; organization cables, .3883, up 0001. Pesetas, de —management mand, .1562; cables, .1564, up .0004, —products Norway kronen, demand, .1783; ca- —finances bles, .1787, off .0001. Sweden, 2681; cables .2635, up 0007. Denmark de- —affiliated compentes mand, .2155; cables 9, up .0002, —tecent developments —merger possibilities Copy free on request. Call, ‘phone or write any of our con- veniently wf 4 RESINOL Soothing and Healing For Baby3 Tender Skin “| (Cuticura Talcum a Fascinatingly Fragrant ——— Always Healthful eure Labersteries Dept.X. Malden, Three New York Offices 505 Fifth Ave. - 225 Pifth Ave. 50 Broad Se. Mur, Hill 7120 Mad, $q. 1377 missioner O'Malley's modest estimate of what his supervisors collected. And for a whole year, he further admits, not one cent of these collections were turned Into the city treasury, An Evening World reporter tried without success to figure out some of the alleged laborers’ signatures on thelr payroll receipts, They were not written for identification, however. Egyptologists, who deciphered the Rosetta stone, would go blind trying to decipher the names of “laborers” in several pushcart markets, staan ESCAPED MONK STIRS 'EM UP IN CHELSEA HOTEL (Continued from First Page.) see the monkey perched on a chiffon jer examining a silver backed brush and a mirror. She shied a slipper at him and he retreated to the window sill, With him went a gold breast pin. This he examined for a while and when reinforcements arrived in response to her telephone call he went away. He evidently dropped the pin as it was not found, West 22d Street is filled with room- ing and boarding houses, At No. 241 @ woman was preparing corn for the noonday meal, She had shucked a dozen ears and laid them on a table. She turned around to see the monkey with one in each hand{ One leap carried her through the hall and out the door into the street, The monkey went to the roof, ate the corn, came down and walked a clothesline while neighbors shied things at him. For a while before noon he was the centre of attraction of a crowd that surrounded the Greenwich Bank Bullding at Seventh Avenue and 23d Street. He swung on electric light wires and took his noonday exer cises without the aid of any phono- graph records. The general hope was that he would tear a little of the {n- ulation from one of the wires and that would end his troubles, but he did not. At No. 202 West 23d Street is the Paris Silk Undergarment factory The machines in the place are oper- ated by girls, The monkey made a BANKING AND FINANCIAL. On or before August 1, 1923, and annually thereafter, from out of giant swing from the electric light wire and went into the third floor window, There was one scream and that became a chorus as the girls ran for the exits. The monkey gave a chatter, watching the disappearing operatives, and raced through the place holding to a plece of silk that weighs nothing and which un- wrapped from a bolt of it like a fish- ing line from a reel. His finish was a leap from the window into a tree in the back yard. In the course of the day it was decided the thing to do was to poison him, 80 bananas containing polson, it was paid, were scattered on the roofs After 1 a’clock this afternoon he was sitting upon the roof of the church where he makes his headquarters, He had eaten the bananas, but he gave no evidence of dying and wasn't even seasick. As a high jumper the monkey has all records beaten as he does not re quire either a net or any water in which to land. On ono,of his esca- pades soon after his escape he Jumped from the roof of the six-story build ing at No. 244 West 23rd Street and landed om the ground. Simmons and his helpers watching him were sure he was dead but he bounded up and scaled a fire escape and disappeared over the roof of a house in Twenty second Street Simmons has been persistent in ef- forts to catch him, Every now and then some one in the block comes in and reports the monkey in a new place and having done some new dam- age, and announces Simmons will be expected to pay for the damage. When chased the monkey seeks the church roof which has become a sanctuary because of its inaccessibility. MACY AND COMPANY WILL TAKE PUBLIC INTO PARTNERSHIP Offer $6,000,000 Preferred for Subscription. RH & Co, department store operators, have decided to take the public into partnership to tho ex- tent of $6,000,000 in preferred stock: No change will be made in the man- Macy agement, which, with Jesse TI. Straus as President, has been in command since 1914 Lehman Brothers, bankers, yester- BANKING AND FINANCIAL. day announced the offering for public subscription of $6,000,000 of new $100 par value 7 per cent, cumulative stock of Macy & Co, at $103.50 a share and accrued dividend. This is part of $10, 000,000 of preferred stock to be thorized and issued by the company in the course of a capital readjustment which also involves the autnorization and issuance of 350,000 shares of no par value common stock. A block of stock will be offered to members of the organization on a basis. The preferred stock Is redeemable as a whole or in part at $115 a share and accrued dividends. profit-sharing Application has been made to list both the pre- ferred and common stocks e New York Stock Exchange Mr, Straus in a letter to the bank. ers states that the company's average annual net profits for the three years ended Jani 28, 1922, computed on the basis of 1922 Federal tax rates, would have t $2,612,819, about 3.72 times the annual dividend payments re- quired on the $10,000,000 preferred stock. Sales for the six months ende July 29, 1922, as certified, w $22 7, compared with $21,470,468 for the corresponding period in 1921 Net profits before deduction for Fed eral income taxes for these six months tn 1922 are estimated by the company At $1,449,000, compared with net prof Jts before taxes of $1,283,270 for the corresponding period in 1921 The consolidated balance sheet as of Jan, 28, 1922, after giving effect to the recapitalization, shows net tan- gible assets of $18,981, cluding a good will account of $7,000,000, the agreed value utilized m 1914 for the purpose of adjustment when Nathon Straus retired from the company, current assets amount to $12,528,02 or to 126 per cent. of the preferred stock issue The Macy organization began in 1858, when Rowland H. Macy started the business in a store about twenty feet wide on Sixth Avenue, near Lit) Street, to deal in small wares and notions. ~_ KILLED BY LONG ISAND TRATN, Lawrence McClennon, sixty-five, con- nected with the Equitable Life Inaur- ance Company in Manhattan, was struck and Killed by a Long Island Rall- road train at a grade crossing at Lin- denhurst, Lo 1, early to-day BANKING AND FINANCIAL. $6,000,000 R. H. Macy & Co., Inc. (A New York Corporation) Seven Per Cent Cumulative Preferred Stock Preferred as to Assets and Dividends Redeemable in whole or in part at $115 per share and accrued Dividends | BANKING AND FINANCIAL. Fo SAE Lhe emai Oe MRS. ELLEN TREANOR DIES AT | AT AGE OF 86 Mra. Ellen Treanor, dled at 916 o'clock last night in her home at Ne, 543 West Gist Street at the age of eighty-six. She was the mother of Vincent Treanor, sports editor of The Svening World and of Police Lieut. Owen B. Treanor, Charles Treanor and Mrs. Cassidy of Floral Park, Li Thi remarkable old lady went ag a bride with her hushand to the house she died in sixty-five years ago. All her children were born there. She was the oldest resident of the upper west side and in her lifetime she saw the city approach her environment, which was a suburb in her girlhood, and pile up around her and pass far beyond, while she lived her own Ife in her own circle and enjoyed the affection of her children and grand- children and of thousands who, in sorrow or trouble, had felt the touch of her ald or sympathy. Mra, Treanor'’s death was sudden, although she had been in’ failing health for a considerable time. The funeral will be held on Friday morn- ing at 10 o'clock when a requiem high mass will be sung in the Chureh of the Sacred Heart of Jesus, No. W417 West Sist Street “atin Cre CHAFIS Bros Our 25th and Best U Brooklyn’s Biggest |} R FURNITURE |X BARGAINS |! $5 DELIVERS $100 U CREDIT TO ALL nancy COR STATE ST] All of this stock having been sold, this advertisement appears as a matter of record only. surplus and net earnings, at least 3% of the largest arnount in par value of the preferred stock that shall have been at any one time outstanding, shall be acquired by the Company by redemption or by purchase at not to exceed $115 per share and accrued dividends. ‘Application has been or will be made to list both the Preferred and Common Stock on the New York and Chicago Stock Exchanges. CAPITALIZATION SEVEN PER CENT CUMULATIVE PREFERRED STOCK (100,000 Shares, Par Value $100 each). . teense eee Dividends payable quarterly, cumulative from ‘Aug. DY ‘1922, COMMON STOCK (No Par Value)...... 000. .cepececre eee enetee semen om Information in regard to this issue and the business of the Company is given in a letter from Mr. Jesse Isidor Straus, President of the Company, from which we summarize in part as follows; oe. set prospered steadily. are feet to 1,500,000 square feet. Assets: The Consolidated Balance Sheet as at January 28, 1922, after giving effect to the proposed recap- ———_italization of the Company, as certified by Messrs. Touche, Niven & Co., Public Accountants, shows Net Tangible Assets of $18,931, P22 28. Net Current Assets essand = The business was founded in 1858 by Rowland H. Macy, occupying a small store, about 20 feet wide by 80 feet deep on Sixth Avenue near Fourteenth Street, and from the out- Having outgrown the present quarters in Thirty-fourth Street, to which the business was moved in 1901, there is now under construction adjoining the present store, an addi- tion 19 stories high, which, when completed, will increase the present floor space from about 1,000,000 Ness 1 Isidor Straus, President; Percy S. Straus, Vice-Presi lerbert N. Straus, Secretary-Treasurer, who have directed the business since 1914, will continue in control. s certified will amount and, alone are equivalent to 125 % of the entire Preferred Stock issue. Sales and Profit: As certified by Mesers. Touche, Niven & Co., ended January 1922 Federal tax rates, the (‘Asaual} Net Profits would have been as follows: ‘Year Ended January 31, 7 January 29, 1921 00.2... 2 1 ies cies Sanmary 28, 1922... coc. cc-ncscmmns oe e cwmeneet ‘The average annual net profits for the three years ended January 28th, 1922, computed on the basis of 1922 Federal tax rates, would have been $2,612,819.66, about 3.73 times the annual dividend payments required on the total issue of $10,000,000 Preferred Stock. Sales for the six months ended July 29, 1922, $21,470,468.47 for the corresponding period in 1921. Net profits computed on the bene of 1922 Federal . Net Sales $35,828,515.37 44,527,221.65 46,671,762.88 Public Accountants, for the three years 28, 1922, the Annual Net Sales were, and computed on the basis of $3, 120,038. 31 2,418,604.51 2,299,816.16 certified, were $22,223,227.03, To be presently authorized and issued $10,000,000 350,000 shares ent; and to $12,528,023.13, compared with Approximate Net Profits before deduction for Federal Income Taxes for these six months in 1922, are estimated by the Company at $1,449,000, compared with net profits before taxes of $1,283,270.52 for the corresponding period in 1921. ‘AM legal matters m connection with this issue will be subject to the approval of Messrs. Wise & Seligsherg, representing the Vendors, and Messrs. Sudkwon & Crowmwetl, representing ti This offering is made if, when, and as issued and accepted by us and subject to approval of counsel. delivery of the be made on or about September LEHMAN BROTHERS, 16 William Street, New York, N. Y., in the form of temporary stock certifi stock Price $103.50 per share and accrued dividend 11, 1922, on two days’ receipts) exchangeable for definitive stock certificates when prepared. We reserve the right to reject any or all subscriptions, to allot less than the amount applied for, and w close the sub- Scription books at any time without notice. LEHMAN BROTHERS New York August 16, 1922. previous notice, Bonkers, and this offering is in all respects subject to such approval, It is expected that at the office of es (or interim The above statements are not guaranteed, but are based on information which we believe to he Acenrate.