St. Louis Post-Dispatch
January 31, 1929

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LS y/ ame TO DAY “ss . wus aT OFF — 3 | N& iad Ske | —— be ay The Only Evening Newspaper in St. Louis With the Associated Press News Service Closing Prices—cComplete (Tables in Part If, Pages 31, 32, 33) ~~ * — » * SAMO RS BI wo % Se at ees ~ Ld @ oe oo oe 1 et . aes oka — » a d o> a arr ow . NO. 147. ST. LOUIS, THURSDAY, JANUARY 31, 1929 —40 PAGES. WALL STREET SHARES W LEADERS ON ‘CHANGE Improvement the Money Market Influence—Profits | : er in Utilities. | JEW PEAKS SCALED Ee IN LATE AFTERNOON Demand for Stocks Extends | to Copper Group—Du.- | Among Shares at [New Highs. tne Associated Press. EW YORK, Jan. 31.—More mn a score of rail, copper and nical shares were -bid up 5 to Ppoints, many to recofd high Ses, On the New York Stock nge today. The new Dupont was shot up 20 points to a Bord price at 195, while Columb- | Carbon, Union Carbide and mied Chemical mounted 6 to 11 , with closing up 6 to 7% Kennecott led the coppers | a gain of 7%, touching a/| rd figure at 161. | average of 59 industrials | 3.2 points, of 20 railroads 2.5 | ts while average of 290 utilities | @eclined 1.5 points. - Cal money renewed at 7 per | vnt,and was in adequate supply at, ‘that figure, although a higher rate | been looked fur today, as fina! Mreparations were made for the Feb. 1 payments. Considerable funds had been attracted by yes- Mrday’s 8 per cent rate aud some ef the $7,500,000 in gold just ar- Md was cvidently put to work. Zime money was diso easier ’ Failure of the Bank of England pincrease its rediscount rate was) Bearded bullishiv. as it was be- to leave the way clear for firther takings of gold in London, Ro change in the New York Fed- tral Reserve Bank's rate is ex- icied at the meeting this after- foon. A moderate increase in bkkers loans is looked for, how- Wer, but. resulting more from mvy new financing than from k Market activity. | News Largely Favorable. "The day’s news was largely fa- erable, including announcement of he institution of the policy of pay- ing stock dividends by Studebaker With declaration of four quarterly Tper cent dividends for 1929. Packard declared an extra divi- fend of 50 cents. Postum an- Mounced the acquisition of Certo ration. The switching to the raiis fol- ered more than a week of con- @ iration upon the utilities, while | %eindustrials were persistently heavy. The Associated Press in-! jdexrof 20 utilities was ratsed about | /2) points-in the last § sessions. | | December railroad net operat-!| ‘hg income reports are running about 60 per cent ahead of Decem- Ber, 1927. Dupont published the 1928 earn- report, showing a gain of er 40 per cent. Adout a dozen rails were boost- 210 7 points to mew tops, by @rly affernoon. A factor in switching to this Moup was the fact that banks are ‘Tow loaning more on rails than in- | ustrials. St. Louis Southwestern, C& 0., New York Central, Cana- Sian Pacific, Rock Island, Erie, New Haven, Atchison and Union Pacific were among issues bid up #to& points and closed 3 to 514 Bet higher. . The new Du Pont stock jumped pit Points on the excellent 1928 ings report, while United Fruit, | Rational ¢ ‘ash Register, Underwood | Eviote Fisher, Studebaker. Pacific oo and Electric, IMmternational’ tlephone and Western U nion rose bay Points on the excellent 192 yy © 8% points, closing up 1 3% $y Points net. e of the utilities encountered | Proft-taking after their sharp ad- | “Sees, National Power and Light tanged down 3 points, and “Ameri- Ran Water Works, Consolidated 8s, Electric Power and Light and Where sagged 1% to 2%. American and Foreign Power | Rater 2 early gain of 3 points and | more, te lower. — peaks were scaled in the | “ afternoon when the demand stocks overflowed into the cop- Per froup. Kennecot soared 7% 7%Dts to 161. Anaconda moved mg 4 to 126% and Dupont climbed >, all new higas. Union : Midland Steel Products ‘€rred and Simmons gained 6, Johns-Manville, Cerro de . Nevada and Greene Ca- | Mnea between 4 and 5 and closed © 4 points net higher Sales Ximated 4,700,000, a} “= ’ . ’ ’ ; x, seis cal » | closing. 2% points ' FAIR TONIGHT MUCH COLDER; LOWEST OLS DEBATE 4 BELOW ZERO. THE TL M PC RATURES. 3 93. @ HAI baie ‘PPPPPPPP 3 (%:30 pv. m.): low. Official forecast o” we PicH ways ‘esterday's hich i3 i7 a. m.). vicinity: Fair to- row; much colder | lowest tempeéra- low zero: tinved cold morrow, Missouri: Gen- and colder east tomorrow: in south- portion after- except tomorrow noon, portion. Illinois: and ture alsout 4 be- | con- | to- | |CITES 10-OUNCE erally fair tonight | to- . night: not so cold | c O p Outsmarts Demo- in | extreme southeast | for St. Louis and | night and tomor- | tonight, with the) ! Gen- | erally fair tonight | tomorrow; colder tonight, se-' vere @old wave in extreme east and | extreme south portions; continued cold tomorrow. Sunset 5:21: sunrise (tomorrow) 7:08, 17 Below Zero in Spokane. SPOKANE, Wash., Jan. 31.— Low temperature records for 30 years were broken here yesterday when the Government thermometer recorded 17 degrees below zero. WOMAN DRIVER LOSES at TERM APPEAL | Judge Gayer Upholds Police Pier Sentence for Hazel Sexton. The Police Court conviction of Miss Hazel Sexton, 31 years old of 4069A Page boulevard, for driv- ing an automobile when intoxicat- ed. was upheld on appeal today by Judge Gayer in the Court of Crim- inal Correction. Miss Sexton nad been sentenced to $0 days in the Workhouse and fined $100 by Po- lice Judge Rosecan, Dec. 28. She was arrested Nov. 21 when she drove her automobile into an- other machine parked at the curb in the 3700 block of Olive street. She admitted having had a glass of beer, but denied being drunk. She testified she thought the tests for intoxication given her at city hos- pital, were “jokes.” » &- - —" ¢ ° me * ‘ - . of * ya 2 “ ~ PM tia dea alte) Hy . : ~ Fae es if SETS FLYING RECORD | : ; LINDLEY a i werk tee ote ees . = FOUND “ RUSE | | ELINOR SMY SMITH. RECORD FOR WOMEN ;* of | Miss Elinor Smith Remains in | Air 13 Hours and 16 | Minutes. (a mile so that they may be picked | By the Associated Press Fokker Ready for Landing. The Fokker will be taxied land in a few minutes and motor is now turning, | An endless block and fall , been up later on and hauled to the bage. | «- MITCHEL FIELD, N. im-| old flyer, today established an en- ts|durance flying record for women, uas onda, rigged ashore again and as, | YY. Jan. } 31.—Miss Elinor Smith, 17-year- 13 hours, 16 minutes and 45 sec- She broke by one hour, five fast as a lozd is put on the sleds minutes and 45 seconds the record | | they are run inlagd by the winch , and then picked up by the teams. After the dock broke yesterday ‘established Jan. dog; Trout of California. ‘the ship drifted out in the bay and'| City of New York while the Bolling Brown, south of the low at slow speed headed back for the | her captain, went) portion of the’! ' _barrier and then slowly turned so! as to bring hig ship alongside and have the City of New York out- side. The wind swung his stern , out bit as he slowly edged in and when the ship reached the i barrier he was almost nose on to t. , The bow was held against the wal)! ‘of the barrier and men i'down ashore and dragged ‘anchors far ‘them. Then the stern of the Boll- ing was warped around and lying against the barrier now, mov- a 1 by Miss Taking off in an open cockpit airplane at 2:17:10 yesterday aft- ernoon Miss Smith spent jhe 13 hours cruising over the Long Island flying fields, varying her routine but once by a trip over lower Manhattan. She landed at 3:33:65 this morning. Warmly clad in a heavy flying | suit and with her face protected by a chamois mask she apparently ,suffered no ill i biting winds. jumped | ice! inland and buried ' effects only sign of her fight with the elernents on one of nights of the winter. She had to be lifted from her plane by field attendants. Her legs were stiff. from having been |foreed to remain in one position so it is) ing up and down only a few inches. lights, but one of the first to reach in the barely perceptible swell. See Icebergs Formed, this smooth sea the wind If | hours and light, the loading should in a few hours be completed. The breakup of the bay ice came! yesterday as a result of the heavy swell of the night before. In a few hours it cracked into smal) cakes as far as the first big pres- sure ridge over which the dog teams used to pass, and that tralfl aver which so much good sledding work was done now is going out. to sea in a thousand pieces. We even have seen some of the fiage used to make the trail marching by on cakes of ice. The bay is full of smal] icebergs ‘also. which have broken off to ithe south and north of us and we (have several times seen that in- | teresting phenomenon—the birth of an iceberg. MARSHAL FOCH HAS SETBACK Forced to Resume Complete Rest to Offset Development. PARIS, Jan. 31.—Marshal Ferdi- nand Foch, who had been recover- ing rapidly from his recent {liness, has had a setback and must resume compiete rest. An official communiqte was is- sued this afternon by four physi- cians who have been attending him. It read: “A slight pulmenary con- gestion contracted during eon valeacence obliges the sick man to resume complete rest.” * 2 lasts a few | continues | hardest part of the wun-'! long. She brought her plane down at the southern end of the fieid, beyond the range of the flood- father, Tom who greeted her side was “her Smith. also a polit, her with a kiss. Her tather arrived at the fiell yesterday with the intention having her postpone her flight in chaiked advising her to fiy and : view of the extreme cold. but found she had already taken off. Later in the afternoon he went | up in another airplane on the side been | of which instructions had north outh during the night and in- | ‘forming her she would have moon sides | “grounded” otoden Denes te" Ag BAF eRe Hie ey. wa ah ae eres light before 11 Dp. m. Both her mother and father and her 14-vear-old brother remained at the field throughout the time she was in the air et Freeport. t I " Miss Smith, who obtained a pri- | vate piiot’s license last year has had considerable experience in the; air. On Aug. 21 she set an offi- cial woman's altitude world record of 14,663 feet. Several months ago she wat (denied right to ’ for 15 days by the Department’ of Commerce for flying under the four East River bridges. a feat before performed by «& Bobby | from the | A red nose was the’ the coldest | of, The family re-. Postal ineneill and De. tectives Arrest Him in Bed at Friend’s Home ~~“ No Assets, Receiver Says. NINE IND CHARGE MAIL FRAUD President of Creditor’s Ad- justment Co. Blames Gambling Losses of Mis- sing Secretary-Treasurer. Richard Hyams Linéley, presi- dent of the defunct Creditors’ Ad- justment Co., in the Chemical Building, who disappeared ‘ast . June when the firm fatled “ty considerable loss to clients, was - arrested today on an indictment charging use of the mails ms. oa fraud. a James W. Chilton, receiver for va the defunct firm, told the Post- | Dispatch the losses siting the collection agency's — eperations probably would seni hundreds of thousards of dctiana. but could not be estimated aecu- rately as thé firm kept few book» and some were missing. Creditors would get nothing, Chilton added. By a ruse, Lindley, who is 49 years old, was traced to tue home of a friend at 4215 Page boule- vard, where he was found in bed and arrested at 7:30 a. m, by Postoffice Inspector Burt and City Detectives Shelton and Williams, Detectives Use Strategy. Until last June, Lindley roemed at 2819 Dodier street. Recently, through tracing a letter. posta) ae thorities learned he had ; there. This morning the city dani tectives knocked at the front door and inquired for a “Mr. Johnsow who was in an automobile acci- dent.” “There's no Mr. Johnson living here,” the landlady told them. “You don't mean Mr. Lindley, do i you” ee “Piel may be the man,” the de- a tectives replied. “Where is he?” , « went out vesterday and said — he *as going to attend a party at — 4215 Page and stay al! night.” the landlady recalled. “ta “Thanks,” said the detectives. as ¢ they departed to arrest Lindley. Says Aid Is Responstibic. Lindley, a little round-f: ced, semi-baid. mild : poken ‘man, cuiet- 4 ly dressed, readily told of Ht :. flight from the city and attributed — his troubles to the missing secre. tary-treasurer, Leonard C. zi who also is under indictment Lindley said Heep apparently i 3 gambled away funds collected for ~ clients, a “l hired Heep cs an office bor when he was 16 years old end just out of an orphanage at por oh Peres. Mo..” Lindley related. “1 was chief clerk for the compatiy — . then. In 1917. after one of the. | Buckley brothers, who owned *he firm, died the survivor sol@ the 7 business to Heep and mysel* | $10.000, which we paid out ef ron profita “Our business was mostiy with . out-of-town merchants I Sy salesmen out on the road te‘seiic contracts for collection of tel ~ debts, Heep handied all the mes. ~~) ey that came ‘n am fees on the contracts and collections en i counts. : oe Tells of Heep's Disappearance, “I trusted him implicitly antl ~ last Mareh 8 when he peared, leaving me e@ note whic read somyhing like this: ‘I’m siek of the business. I'm going out at the road. If you don't hear fran me in two days you'll never from me. You'll find the book and check book in my “Il saw by the books that { - ee . the Ae. tee OW Che teey » -./% ~~ . 9 oy ~~ oy . (a ; ry a f : 2 Hi i} ek eel ele MS