St. Louis Post-Dispatch
August 6, 1929

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NEWS REG US PAT - - gripus PM TODAY wesc . — a Oe ae a ee ST.LOUIS PUST-DISPATCH The Only Evening Newspaper in St. Louis With the Associated Press News Service ST. LOUIS, TUESDAY, AUGUST 6, 1929.36 PAGES. PRICE 2 CENTS Et? = * [WALL STREET ‘STOCK PRICE MOVEMENTS RE ERRATIC : farket Sells Off Sharply, 7 : tli Briskly in After- : noon and Then Turns Ir- AT 12, DROPS TO 8 L Break in Some Utility Ra Sa sa ete og . * “ey 4 _ . “ — | —=_———" " 7 et oe " . _ % f . ~ re vs ; ee : 6 GA . hee, a » : _ e p . A :. Fan ; : ey , eee a F . - = p “s 5 * J Ros ¢ in x > bate 43 : ~~ " en * Cs ed fr, a ae . _ _ 7 . . = -.® ; 4 Le .. + z ny te nae 5 SVG, SRR, Sk SSR YI oe, OM Fee ai Me. OT Pee oe ee. Cee Satie . (70S SR hop RAR A 5 Sk i : : x: HS - > + De das ORT RY ee, Peo aw Hs age sale z ip ar we tae " Ty * ABE ial ots “> . . , ey “ih, ee. = : a Weis a) RE aa! or aah a ih! 6 erate a Sok ae . hy ©. : ws PE Se Foy 2 ty P| a ee ; 29 wa ; ° 4 7 bn ‘ ; i eae he a as J hey ee i a . + * é ey ; ao By) d : . > 2 oe rhe, pS es Sa ei ee UR 7. as ae * 44 . ney : , oO ae = « - a an a Sh os 526! % ‘ att eo 5. * ‘ f ; es Y Gao he P| “ “ ~~ —_— geek -— © a 5, » 3 * yr a : “ f ” A ~ eo > . % ‘ - Stocks at Chicago a Dis- ’ turbing Factor—Detroit Edison Off 27 Points. By the Associated Presse. | ‘NEW YORK, Aug. 6.—Highly ‘erratic price movements charac- terized today’s stock market, which | gold off sharply in the morning, rallied briskly in the early after- | poon and then turned irregular in the last hour. Final quotations dis- - closed a@ preponderance of net de- - lines, which ran from 1 to 8 points in the active issues and much high- ina few specialties, but a sprink- of issues. also closed 1 to 65 points net higher. ' Call money renewed at 12 per ent, dropped to 10 and thence to ba as August 1 checks returned to ‘Me banks, but time loans continued tm. Easing credit conditions were /@fiset, however, by a sharp decline be : grain prices. - Break at Chicago a Factor. = One of the most disturbing ele- Pm@mts of the day was the further ‘trak igksome Public Utility stocks "on the Chicago Stock Exchange, jwhich was widely construed as bly the forerunner of another tion om the New York Ex- @hange, because both the March g926, and May 1929, reactions here preceded by violent declines a Chicago. This led many hoid- ts of Public Utility stocks to take 7 profits or reduce commit- nts, although pools strived perately to maintain bullish RIMS we oe: branes” iat ethers BP nett one ~. Ga a a a . Pee Fee a : : = Se ; tr = 4%; ea Senyer hep .. Gthusiasm in that group. | Detroit Edison broke 27 points, Pacific Telephone 744 and Brook- mn Union Gas, North American, mmerican Telephone, General Pub- Service, Pacific Lighting and | Mandard Gas & Electric closed 3 5 points lower. American Wa- Works added 4 points to its 6 it gain of yesterday, and Fed- Wal Light & Traction also closed # points higher. ' Case Threshing Machine dropped > points and International! Busi- Machines, Columbian Carbon, i Chemical and Curtiss Acro 3% to 5 points, - Buying of Coppers. Heavy buying of the coppers. on reports of an increased ign demand for the red metal eatured the late trading. Greene closed 4% points higher, euaconda 3%, Cerro De Pasco 3 Ee Kennecott 15%. | Atchison moved up nearly oe to another new high at et% but Union Pacific dropped 5 Chesapeake & Ohio 6% and pew York Central 3%. /"heat futures dropped 6 cents a weenel in sympathy with the break # Winnipeg, and on heavy re- of the commodity and a m=“ cash market. Corn fell 2 to sents a bushel. Cotton closed higher. ign exchanges moved with- 7 'Trow and irregular limits. __ Money Supplied Market. »*8e sudden relaxation in demand meuey rates was widely interpreted P signifying the determination of Wwerful interests to hold the stock ket against the adverse influ- . of the resounding break in muty and affiliated stocks on the Exchange. Money was holding at the 12 per cent fixed for renewals when funds being offered in the outside et first at 10 per cent and at 8 per cent, with the offi- charge Subsequently being 2 in several stages to the 8 Cent level. in the late after- Contrasted with recent — % Money was offered tn pply today with the funds released through heavier Usua| Paying off by brokers Feturned to the market and — Of the larger banks report- : © substantial volume of 4 Nds at the disposal of bor- it} r Pape $2 7 : 4 & Pap ee: ee ge ee Gay ae ‘ _ “ > pee, * - - = it: s S§ pressure Was renewed eat of the market, and - many high grade invest- ~ nit — rather sharply. © cropped 4% iret wt pte 4% points Pacific 2. chison 3% and /| GRAVE-DIGGERS STRIKE, FORCING TRENCH BURIALS Six Hundred Bodies, Tempo- rarily Interred, Will Be Moved When Walkout Ends. By the Associated Press. NEW YORK, Aug. 6.—-Tempo- rary burial of the dead in trenches was resorted to today at Calvary Cemetery in Queens, where a week- old strike of grave diggers resulted in an accumulation of 600 bodies. The bodies had been piaced in the cemetery’s temporary receiving vaults, which have accommodations for nearly 1000 bodies. Under the law, however, a body must be bur- ied within four days after death, and over the week-end men were Placed at work digging three long trenches, It was announced that after set- tlement of the strike the bodies would be reinterred in the family plots. Efforts to arbitrate the strike, which started shortly after the dis- charge of a chauffeur, were under “way today between the strikers and members of the cemetery board of trustees. Between 600 and 700 men are involved They have demanded recognition of their union and an increase of salary from an average of $24.20 a week to $7 a day with double time on Sunday. KWK CHARGES KMOX EMPLOY CUT WIRE AT ROBIN LANDING G, L. Tevis, Announcer, Is Named in Felony Warrant Issued at Clayton. A felony warrant charging G. L. Tevis, radio operator for station KMOX, with cutting wires to sta- tion KWkK’'s microphone last Tues- day as the St. Louis Robin endur- ance flyers were speaking, was is- sued today at Clayton. The affidavit of Thomas R. Me- Lean, chief engineer for the Great- er St. Louis Broadcasting Corpora- tion, operators of KWK, charges that he was struck on the head as he held the microphone for Forest O’Brine to speak after they had gone into a hangar at Lam- bert-St. Louis Field immediately after landing. Dazed by the blow, he turned to see Tevis cutting wires a few feet from him he stated. McLean said he did not know who struck him. The offense of cutting a tele- phone wire, as charged, is punish- able by two years’ imprisonment or a fine not exceeding $500. MAURETANIA TWICE OUTDOES OWN FORMER SPEED RECORD British Ship, 22 Years Old, Coming Close to Bremen’s Trans- Atlantic Mark. y l’ress, NEW YORK. Aug. 6.—The Cunard liner Mauretania, | still working her original Scottish boil- ers with which she was equipped | when she was built 22 years azo. was steaming from Cherbourg to New York today at the rate 27.48 knots an hour in an effort to recapture the speed records wrest- ed from her by the new ocean queen Bremen a fortnight ago. The Mauretania has broken her old record twice since she left Cherbourg Saturday afternoon. From noon Sunday to noon Mon- day she traveled 6890 miles, at 27.2 knots, and ffom noon Monday un- til noon today. she traveled 687 miles at 27.48 knots. com- mander, Capt. 8S. G. S. McNeil, ra- dioed the Cunard offices. McNeil expects to reach quaran- tine at 10 a. m. tomorrow. If he does, his ship will have crossed in about four days and 18 hours. The Bremen, on her recent maiden voyage, made it in four 17 hours and 42 minutes. MONUMENT TO HOOVER FROM SWIMMING HOLE Stones Being Collected at West Branch for Pawhuska (Ok.) Shaft. WEST BRANCH, Ia.. Aug. 4.— Stone from President Hoover’s old swimming hole and the yard of his birthplace here will be used in Associated By her days, Pawhuska, Ok., site of one of his first scientific achievements. Hoover. when a freshman Stanford University 35 years ago. discovered a new variety of lime- stone on the farm of his uncle, Laban Mills, near Pawhuska, and ;mamed it for the town. | Abram O. Thomas, Iowa geologist. is collecting the stones, to be combined with stone stone. 3,131,417 TAX ON THE ESTATE UF PAUL BROWN U. S. Will Get $1,739,685 and Missouri $1,391,732 by Compromise of Inher- itance Levies. LARGEST EVER COLLECTED IN STATE Heirs Failed in Court Con- test to Block $845,249 Claim Under Law of April 7, 1927. Litigation over the State and Federal inheritance taxes on the $13,000,000 estate of Paul Brown, broker, tobacco manufacturer and downtown realty owner, has been settled and the estate will pay $3,- 131,417.79 in such taxes. Of this amount, the Federal Government will receive $1,739,- 685.44 and the State $1,391,732.35, which is the largest inheritance tax ever assessed in Missouri. Executors of the estate originally paid a State tax of $546,482.49. The State, however, claimed an ad- ditional $845,249.86 under an amendment to the State law, ap- proved April 7, 1927, providing that when the normal State in- heritance tax does not come to 80 be increased to that amount. Mr. Brown died Nov. 17, 1927. The Brown estate contested the additional claim in the courts with- out success, thus making way for the additional levy reported today by Henry A. Baker, State interit- ance tax appraiser, not stand to lose anything through the additional payment to the State as the difference is deduct- able from the Federal tax, which otherwise would have ben larger. The eonstitutionality of the of | building a monument to him at! at | Prof. | University of | from Stanford and Pawhuska lime- | | ‘Politics and Enforcement”’ Mrs. Mabel Walker Willebrandt. in today's chapter on “The In- side of Prohibition,” finds part of her text in the Remus trial and the lIooting of the Jack Daniel Distillery in St. Louis. _—_o It is printed in this edition of the POST-DISPATCH Asother Chapter Tomorrow! amended State law was upheld by the Missouri Supreme Court last June 13. The amendment will in- crease considerably receipts from inheritances. Funds received by the under the inheritance tax into general revenue. CHEMIST LOST TWO DAYS State law per cent of the Federal tax, it shall | i | 'in charge of the plan, the City may | However, the Brown estate does | 50 | ROCK ISLAND 10 ABANDON WESTERN NTRANGE TO GITY Road Won’t Accept Ordi- nance for Eliminating Union Boulevard Grade Crossing. TIES UP DEAL FOR IMPROVEMENT It Will Route All Its Trains Into St. Louis Over Ter- minal Belt Line at Date Yet to Be Fixed. The Rock Island Railroad has decided to cease using its present western entrance to St. Louis, and to route its trains over the Termi- nal Belt Line, city officials learned today. For this reason, they further learned, the Rock Island will not accept the ordinance for the elimi- nation of the present Wabash-Rock Island grade crossing at the Union boulevard entrance of Forest Park. The ordinance, under its terms, must be accepted by the two rail- roads not later than Saturday, or it will expire and a new ordinance will be necessary. The Wabash, confronted with the possibility of havirg to pay the whole two-thirds of tne cost chargeable against the railroads, is also not ready to acrept the ordinance. Therefore, eccording to » R. Bowen, the city’s engineer fail in the effort to get this im- provement made in cornection with the Des Peres sewer, and with only one period of interrupred traf- fic. No time has been Rock Island's change of route. President Kinsey of the Board of Public Service called at the road’s headquarters in Chicago last week and laid the matter before them. Kinsey learned today that president intends to the change in route to his board. This will eliminate rhe track just north oi set Baliviere station. $5,000,000 AIRPLANE AMONG OREGON GLACIERS Lt. S. Worker Makes Way Back to Camp After Being Sought by Four Parties. By the Associated Press. SWIM, Ore., xt oan os ey Pedi as rin 3 . the world speed record a ZEPPELIN REFUELED FOR START TOMORROW To Take Off at Midnight on Proposed 22,000-Mile Journey Around _ the Wenn: *. °** TRIP WILL PAY HALF SHIP’S COST Receipts Put at $500,000 ia Friedrichshafen, Tokio, Los Angeles and Lakehurst. By the Associated Press. LAKEHURST, N. J., Aug. 6.— Refueling and replenishing the German trans-Atlantic @irigibie« Graf Zeppelin was completed to- day in preparation for its departure at midnight tomorrow on the first leg of its world voyage. Dr. Eckener superintended the pumping of 750,000 cubic feet of gas into the fuel storage of the Zeppelin and 630,000 cubic feet of hydrogen gas into the balloonettes which furnish the lifting power. It also took on 3500 gallons of gaso- line for the five motors and 1100 gallons of lubricating oil. Sailors patched «nd painted the few rents in the fabric caused by the winds on the westward trip and replaced some broken wire struts in the framework, Route of the ° The course the dirigible will fo!- low around the »world from Lake- hurst is Friedrichshafen, Tokio, Los Angeles and back to Lakehurs'. But between those points the need« of the moment alone will deter- mine the line of flight. Prevailing winds and weather conditions make it a probability that a southern route will be fo!- lowed to Germany, much the same course on which the Graf flew to America. And it is thought now that from Los Angeles eastward the dirigible will fly across the United States along a southern course. But from Germany te Tokio there is little that can be decided in advance. “I would Hke to foi- low the great circle course rather than that of the trans-Siberian railroad,” Dr. Eckener said, ac- cording to an associate. “It would be nice to give the passengers « giimpse of the Arctic Sea, and then we would cut across China to Tokio.” Admittedly, however, what would be “nice” for the passengers wil! have but little to do with the course actually decided on at the time. Their safety and not their pleasure will be the deciding factor and if it seems best atthe moment to take the trans-Siberian route, that course will be followed, The flight across the Pacific does not seem any great obstacle in Dr. Eckener’s opinion. If wind and weather allow the course will be laid by way of the Aleutian Islands so that the passengers can break the monotony by seeing something besides water. 22,000 Miles in a Month. The girdle of the globe, a total of 22,000 miles, is expected to tak« less than a month, with only «17 days actually in the air. The rest of the time will be spent refueling and replenishing the supply of hy- - drogen. : For the flight te Freidrichsha- fen, the Graf Zeppelin has booked 18 passengers, some of whom have made reservations for the world tour. The ship also will carry freight and mall. bound trip; Otto Hillig, a photog- rapher of Liberty, N. J., Sir Hubert Wilkina, explorer, person whose name was closed, As a« result of a golf bet Nathan Wealer will pay passage and that of William We fen, te’ owners. They