Omaha daily bee. (Omaha [Neb.]) 187?-1922, April 28, 1921, Page 4, Image 4

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National C. of C.
Annual Meeting
Gets Under Way
Revision of Tariff, Tax and
Anti-Trust Laws anJ Foreign
Trade Subjects for Dis
cussions at Confab
Atlantic City, N. J., April 27. Re
vision of the tariff, tax and anti-trust
laws, foreign trade, the nation's im
migrant and house problems and
remedial measures' for the industrial
situation were subjects of discussion
today at the opening of the ninth an
nual convention of the United Starts
Chamber of Commerce. More than
4.000 delegates were in attendance.'
Joseph H. Defrces. president of
the chamber, urged co-operation, of
sincere Americans in oiMer to bring
about a return to normalcy in social
and industrial conditions. Declaring
strikes and lockouts had resulted in
great, . economic losses, lie recom
mendad i 1 lie establishment oi - im
partial tribunals not of legal origin,
before which proper disposition of
labor disputes might be made.
Must Finance 1 Trade.
John McJlugh, bank official and
chairman of . the organization com
mittee of the foreign .trade financing
corporation, declared organization of
facilities for extending long-time
'credits to foreign -buyqrs is' neces
sary to solution of the, present sit
uation, which, he, said, is reflected by
the increasing paralysis of' foreign
trade. ,
A government . subsidy large
enough to, amortize the greater cost
of ship building and operation was
suggested as a practical method of
building up foreign trade by Marcus
De Brabant, president of a naviga
tion company, with headquarters at
Los Angeles.
Asserting, that, the oil. problem of
the future will not be- the finding of
markets but a search for, sources of
supply, Dr. nn H. Manning, director
of research for the American Pe
troleum institute of New York, told
the natural resources production
group that the United States should
insist on an open door oil policy in
all countries.
Among resolutions to be placed
before the assembly was one from
the National Aircraft underwriters
association asking the chamber to
urge congress to prepare and enact
legislation embodying an aerial code.
Sinn Fein Honors Are
Paid Slain Brothers
Belfast, April 27. (By The As
sociated Press.) A funeral unique
in the history of Belfast was held
here this morning when' Patrick
and Daniel Duffin, the two brothers
who were shot and killed at midnight
Saturday, were buried. Sinn Fein
honors were paid in the presence of
a great throng, "from Falls Road to
Kingstreet, where the military as
sumed control.
The two motor hearses containing
the bodies were preceded by ar
mored cars bristling with guns.
Falls Road shops were closed.
The coffins' of the brothers were
draped with republican flags. Bands
of girl scouts sang hymns and re
' cited the rosary in Irish at intervals.
The excitement culminated in a
sharp encounter in the Old Lodge
district in. which a young man: was
critically' woinided by a gun shot.
The shot was fired from an armored
car. Three other persons suffering
from slight wqunds were admitted to
hospitals. J'
Ex-Sergeant of Chicago
Police With Rock Island
Former Sergeant of Chicago Po
lice Joseph Ronan. who was dis
missed by Chief Fitzmofris with
four other policemen following the
shooting of Patrolman O'Neill
there March 23 in an effort to cap
ture Tommy O'Connor, notorious
gunman, is working as special agent
ior the Rock Island railroad be
tween Council Bluffs . and Pes
The efficiency and
rapidity 'with vrhich the-
does its work is the best
recommendation this highly
endorsed Vacuum Cleaner
could have. .
In one operation cleans
Rugs, Carpets, Mat
. tresses, Portieres and
Upholstered Furniture
You, in your home,; should
have a Thor t assist you in
your daily work, as well as
your spring cleaning.
trr $39.75
on payments. f
$1.00 per week .
Publishers to Foriti
New Protective Body
Favoring Open Shop
New York, April 27. Representa
tives of daily newspapers operating
under open shop conditions will
meet here Friday to consider forma
tion of an organization to protect
such establishments, E. J. McCone
of the Buffalo Commercial, an
nounced today.
The proposed organization will be
known as the American Open Shop
Publishers association, Mr. McCone
said. It is intended as a permanent
organization. Daily papers having a
circulation of 5,000 or more have
been invited to join and about 20
publishers have signified their inten
tion of attending the meeting.
The new organization will not
combat the closed shop but will pro
tect the interests of those publish
ers believing in tl : open shop
Will Give Opera to Start
Fund for Community House
Cozad, Neb., April 26. (Special
Telegram.) "Polished Pebbles," an
opera with a cast of 45 local persons,
will be given at the Rialto theater
here Friday night, April 29. . The
proceeds will be given to start a fund
for the erection of a community
house. , . .
Howell Makes
Plea for Bonds
For Gas Plant
Consumers Will Have to Pay
Additional Charges If Issue'
Is Voted Down at
R. B. Howell, general manager of
the Metropolitan Utilities district,
urges support next Tuesday in behalt
of the proposed $1,000,000 gas utility
"There are two ways in which
funds for the gas department may
be raised," said Mr. Howell. ''One;
is by adding to the current gas bills
a sufficient amount to afford the
necessary capital; in short, to call
upon gas consumers for the cost of
such improvements now, and here
after as needed. Another way is by
voting a 30-year gas bond issue, and
thus spread the payment for such
improvements over a long period of
"It is the opinion of the Water
board that the second method of
financing should be adopted, and
hence the board has submitted a
$1,000,000 gas bond proposition to be
voted upon at the time of the com
ing city clectiui-
"Remember that these bonds will
not be sold at once, but only from
time to time as the money is needed;
that these bonds will not increase
taxes, as both interest and principal
will be paid out of the earnings of
the gas plant.. These londs iwill ul
timately result in reducing the gas
rate.' The water plant started out
with an additional $1,000,000 if
bonds, and i( is now proposed mere
ly to pursue the same policy with
the gas. plaut, and it is believed with
similar success."
I. C. C. Dismisses Plea in
Intermountain Rates
Washington, April 27. Freight
rates from points east f the Rocky
mountains to the intermountain ter
ritory were found, by the Interstate
Commerce commission to be not un
reasonable, unduly prejudicial or
otherwise unlawful. Complaints' by
shippers and others were dismissed.
The complaint was made against
the maintenance of approximately
the same rates between eastern points
and intermountain territory as be
tween the east and the Pacific coast,
the complainants seeking to have
rates to the mountain points graded
according to distance with the rates
to the coast as a working basis.
Bee want ads little, but mighty.
Railway Unions
Increase Waste
Charge in Report
Supplemental Exhibit Filed
With Rail Board Adds Quar
ter of Billion to Original Es
timate of Annual Losses.
Chicago, April 27. The railway
labor unions fighting wage reductions
before the railroad labor board in
creased their charges of waste and
inefficiency on the part of railroad
managements by $250,000,000 today.
In a supplemental exhibit to that
filed last week, setting forth alleged
waste of $1,000,000,000, the employes
charge that possible savings totaling
$1,276,500,000 could be effected by
the railroads if they would introduce
modern methods in maintenance and
operation of the railroad industry.
Under operating savings the. ex
hibit quoted John E. Muhlfeld before
the American Society of Mechanical
Engineers as saying that "the annual
losses in locomotive operation and
maintenance seem to be due entirely
to the fact that the motive power of
our railroads is relatively obsolete,
inadequate and inefficient."
Freight rar performance, due to in-
(Total Issue)
Northern Pacific
Great Northern
Joint 15-Year 6 2 Convertible Gold Bonds
(C. B. and Q. Collateral)
To be dated July 1, li21 Interest payable January 1 and July 1
To mature July 1, 1936
Convertible at any time, at the option of the holder, as more fully
'. ; described below, into 6 Bonds of the Northern Pacific Railway
.Company and or 7 Bonds of the Great Northern Railway Company
Redeemable, at the option of the Companies, as a whole or in amounts of not less than $5,000,000, at 103 H and
accrued interest at any time on 75 days' notice. Any Bonds called for redemption, in order to be con
Terted,.must be presented or conversion fifteen days before the redemption date.
Coupon Bonds iti denominations of $1,000,' $500 and $10 0, with privilege of registration as to principal. Fully
registered 'Bonds in denominations of $1,000 and authorized multiples thereof. Coupon and registered
Bonds and the several denominations interchangeable. I J
The following summarized description of these Join 1 6lA Convertible Bonds hasbeen prepared for us by
Howard Elliott, Esq., Chairman of the Northern Pacific Railway Company, and Louis W. Hill, Esq.,
Chairman of the Great Northern Railway Company, from their letter to us dated April 25, J 921 :
V- -I"
A "
Security The Joint 15-Year 6 12 Convertible
... Bo'ridg are td be the direct and joint
obligations of the Northern Pacific and of the
. GreaLNorlliern Railway, Companies, - and are ,
to be secured by a pledge of 1,658,674; shares
approximately 97 of the outstanding stock)
. of; the Chicago, Turlington and Quincy Railroad
Company (which percentage of stock has here-,
tofore constituted the sole;, collateral security;
for the maturing "Burlington Joints 4s'?), aiid '
in addition; by $66,000,000 'of mortgage. on ds
of the two. obligor Companies, the'i deposited!
collateral being valued at an ampun inWxcessj
of 120 of the principal amount of Jpih-6i fo j
Bonds issued. V, . ' ff I i
Conversion The Joint 6" 12 Bpftd.? ..rniy be '
p ;i converted, v&r fot paf, Tiwithout
privileges charge at the option the ,
holder at apy time (upon, presentation. no later '
than fifteen days before maturity or earlier
redemption), into 6 Refunding ahd Improve
ment Mortgage Bonds (Series B) of the North-
. ern Pacific Railway Company, due 2047 (gall
able after 15 years at the 'Company's option at
110 and accrued interest); or into 7 Fifteen-Year
General Mortgage Bonds (Series A)
of the Great Northern Railway Company'due .
1936 (with ho option of prior redemption) pr..
into bonds-of both issue in any ratfo between i
the two which the holder -of the - Joint. 6 $ !
Bonds may desire, but not more than $15,)00- i
.000" of ; either of such mortgage 'bbflds, will-be
issuable upon such conversion. Q : ;
Legality Such Northern Pacific Bonds are, !
1 . in the opinion of counsel, a legal !
int uifLS investment for savings banks and .
compute -. trust funds in New York, Massa
chusetts, Connecticut and Vermont. Both such
Northern Pacific Bonds ad such Great North
ern Bonds are, in the opinion of counsel, a legal
mvestmeflt'iforlife.;insu)rariee companies in the
state of New 'York ! ' "
Earnings During the ten and one-half years
- t ifromAl9U, t6 1920 inclusive,', the'
; combined average surplus income of the North-,
. 'erft Pacific and Great Northern Railway Com
panies, , after payment of combined fixed
i charges;, other than the interest on the butstand
' ing joint bonds which;are tp be refunded by the
new issue, was about $44,000,000 annually, and,
in addition, the share of the. two roads, in the
surplus income of the' Chicago," Burlington and
Quincy Railroad Company after the payment
: :;pf .;its. fix?;d charges, averaged, about $20,9:60;-
000 -annually, the total annual ' average, being
about;$64,960,000 as compared with $14,950-'
000 which will be required annually for interest'
on the new issue of Joint 6 14 Bonds.
Equity Since July 1, 1901, the' Chicago, Bur-
: lington and Quincy Railroad ,alone has
;",increased ; its surplus in the amount of approxw
mately $200,000,000 against which no securities
. prior tp the stock have been issued; ;The,com-i !:
Dined het assets of the Northern S pecific ;Vand
of the Great Northern, after, deducting their
prior debts, together with 97. of the net assets ;
of the '.Chicago, Burlington and; Quincy Rail-.'
' road, after deducting its debt, indicate an-
equity at book value, for these' properties of '
close to $1,100,000,000. ''
fV. t
. Sr ,..
The above bonds are offered, subject to issue as planned, for subscription at 96 &nd
. interest, to yield approximately 6
' . Discount will b allowed it the rate of 6 J4 per annum on the principal sum of the Bonds from , H '.-
the date of payment to July 1, 1921', front which latter date interest will accrue on the Bonds. ' '"
Subscription books will be opened at the office' of J. P. Morgan & Co., at 10 o'clock A,' M., Thursday, April 28, 1921.
The right is reserved to reject any and all applications, and also in any case, to award a smaller amount than applied
for. The amount due on allotments will be payable at the office of J. P. Morgan & Co. in New York funds on or
about May 16, 1921. ' '. :. "
Northern Pacific-Great Northern, C, B. & Q Collateral 4 Joint Bonds, due July 1, 1921, with final coupon attached,
will be accepted in payment at 100 and accrued interest to date of payment on allotment.
Temporary Bonds, exchangeable for definitive Bonds when prepared and received, will be delivered upon payment.
J. P. Morgan & Company , . . First National Bank, New York
The .National City Company
Guaranty Company of New York Bankers Trust Company
Harris Trust & Savings Bank Lee, Higginson & Co.
Mechanics & Metals National Bank National Bank of Commerce in New York
Central Union Trust Company of New York New York Trust Company
American Exchange National Bank
The Equitable Trust Company of New York
Brown Brothers & Co.
Halsey, Stuart & Co.
J. & W. Seligman Sc. Co.
Clark, Dodge & Co.
Kidder, Peabody & Co.
White, Weld & Co.
Blair & Co., Inc.
Hayden, Stone & Co.
Kissel, Kinnicutt & Co.
Dillon, Read & Co.
Spencer Trask & Co.
E. H. Rollins & Sons
Lazard Freres
efficiency, leads to "startling deduc
tions," the (report continued, saying
that a freight car travels an average
of only 25 miles a day, is loaded
about two-third of the time and that
6.6 to 7 per cept. of all freight cars
are chronically unserviceable. In the
western region the Union Pacific av
eraged 50.3 miles a day for each car
and the Denver Rro Grande 17.6
Troops to;, Guard Mails
At Chicago Stations
Chicago, , , Apr(l- 27. Postmaster
Carlile inspected' alirpdstal sub-stations
and the railway postal terminals
to determine the approximate num
ber of United States troops necessary
to guard the mails here. The ac
tion is in c6mpliancc with orders.. re
ceived from postmaster . (5neVal
Hays to end mail'" robberies hy de
tailing United States j regulars to
guard strategic, points..,,'
Mr. Carlile ii expected to. report
to the .War. department that at least
a battalion of soldiers will be, neces
sary for . the '.work, ..They; will" be'
under the direct' charge of the' post
master'and will be,detailed here, from
Fort Shendan. to augment the pres
ent postal, guard. V',
Japanese General
Kills Sell, Sequel
To Langdon Death
Commander of Japanese
Sentry Who .Shot U. S.
Naval Officer Commits
, Suicide.
o aoaooopoaononono
S A n iftDitnhnn D
U fin iiivuuiivu ,
8 . to thePublic l
D l'"1"f.vVr-r-;'-.'-
S After '-more than two D
5 months', work and'spend- 2
0 ingarr'$15,000 in g
o cleaning, painting, re- n
Q carpeting, we now have
o the D
D o
g Henshaw Hotel D
2 Omaha Q
Q o
2 in such shape that we Q
g feel we can welcome the g
n public to stop with us U
o vith every assurance of fj
0 satisfying them. 5
o 0
D Conant Hotel Company o
ft Proprietors U
5 JOS. H. KEENAN, Manager jj
oaosonoaonooonoa o
Guticura Soap
-The Healthy
Shaving Soap
CatlearaBespsfcsTwtlmtHae. ItarmlMnSe.
; Tokio. 'April 27.-(By The Asso
ciated Pi ess.) Lieutenant General
Saito, commander-in-chief of the
Eleventh Japanese division at Vladi
vostok, committed suicide on Mon
day, his death being a sequel to the
shooting of Naval Lieutenant W. H.
Langdon in that city early in Janu
ary, says the Hochi Shimbun of this
city. General Saito is said to ilpav
either held himself responsible for
the death of Lieutenant Langdon or
to have been irritated byhat'hr br
licved was the weakness of the Japs
nese government tn dealing with th
incident. ; '
Lieutenant Langdon was shfat
killed by lochigoro Ogasaw
sentry, who was later tried before.
court-martial and was tound noi
guilty. He was, however, sentenced
to one month's imprisonment for
making false statements and his stu
perior officers were censured for fail
ing to instruct him properly as to his
Tariff on Buttons Asked.
Chicago, April 27. Declaring that (
Japanese concerns are flooding the
American market with their products,
the National Association of Button,'
Manufacturers, at a meeting today,)
adopted a resolution urging congress"
to place a tariff on buttons. -
ara, a?
John Hopkins
Candidate for
Previous Public Service
Attorney for Federal
Land Bank. Member
State Legislature, 1917.
Census Enumerator, 1920.
The Only Ex:Soldier
John Hopkins
pot Days
These are the days when everybody
hunts the fresh air and health making
These are the days;
when Omaha appreci
ates more than ever its
21 parks and its 35 miles
of boulevard. 1
City Commissioner
Thomas Falconer is the
man in charge of munic
ipal facilities for recrea
tion. Falconer has im
proved and developed municipal golf
courses, tennis courts, swimming
beaches and pools, bath houses, base ball
diamonds, children's playgrounds, etc.
"' Aw
they'll Tell You To
. r ....
tBowen (d
Howard St. Btw. 15th St 16th