Hope Star from Hope, Arkansas • Page 1

and 1 (nick cross A Hope Star ness nesday, omewhit Tuesday THE Probably warmer? night WEATHER a and Wednesday 32-NUMBER 62 (NBA) -Means Newspaper Enterprise HOPE, ARKANSAS, TUESDAY, DECEMBER 30, 1930 Stat 1927: of Consolidated founded 10991 Hope Dally Press Hope: Stat, January 186 1929. PRICE SE CORN U. S. RAIL MERGER PLANNED Underdog' Wins in Giant Steel Fight; Bethlehem Loses Cyrus S. Eaton Defeats Noted Leaders in Steel Consolidation Move COURT IS CRITICAL Judge, Granting Injunction, Hammers Merger Advocates Cleveland--the "underdog" of the fight-rested triumphant Tuesday after his victory over the Bethlehem Steel, corporation interests which lost in the courts Monday in their effort to acquire the Youngstown Sheet Tube Co.

Mr. Eaton, who fought his way into a substantial ownership interest in the Youngstown company, obtained a permanent injunction against the billiondollar: merger. This epochal battle among the giants of the steel industry was launched by Mr. Eaton for himself and in. behalf of other minority stockholders of Youngstown Sheet Tube: They maintained that the ratio of exchange of stock between their company and Bethlchem was unfair, one of their allegations being that Eugene G.

Grace, president of Bethlehem, received a bonus amounting to millions, as a regular part of his company's operations a tact, not known to the stockholders of the Youngstown company, with which Bethlehem proposed to consolidate, Beat Noted Men. Mr. Eaton the minority stockholders of Sheet Tube In their attack against the powerful combine of such famous Industrialists as Eugene Grace, president of Bethlehom; James M. Campbell, chairman of Sheet Tube, and Henry G. Dalton, a director in both companies.

Unless -are the merger proponents appeal and able to win a reversal, the merger. is dead. Eaton said he had enough votes to defeat it in the stockholders' election last April 9. His oponents denied this and contended that the stockholders 'voted ratification. No, one denies however that Eaton since the election, has had sufficient proxies to defeat a Sheet Tube merger, if such a deal is submitted again.

Leading supporters of the deal had not indicated tonight if an appeal will be made. Industrial Leaders in Battle Private negotiations for the merger began early this year, The fight to defeat It, shirted when Eaton first heard of Bethlehem's the proposal offer was March to 1., acquire Sheet Tube, a $235,000,000 corporation, on the basis of one and onethird of Bethlehern common stock for one of Sheet Tube, The first phase of the battle was a campaign for proxies. Leaders of fipance and industry, went to the stockholders, "button-holding" them votes. Soon both sides were spending millions for stock. Eaton spent more than $8,000,000.

Meantime a majority of Sheet Tube directors approved the merger and the stockholders action followed. Long Legal Battle The suit went to trial June 24. Newton D. Baker, former secretary of war, was chief attorney for Sheet Tube, Attorneys Luther Day and Crawford headed the opposition. During the trial, Leroy A.

Manchester. attorney for Sheet Tube, committed suicide, after suffering from overwrought nerves, The plaintit Myron C. Wick, also died of pneumonia, brought on py strain. While Judge Jenkins did not attempt to settle all the points of the trial, his decision, long, was an unequivocating statement that the merger was invalid. Brouch of Contract Seen The judge said the acts and conduct of Sheet Tube directors made them "guilty of breach of contract tantamount to fraud," His principal criticism was they did not fully inform themselves of all factors in the deal, did not supply stockholders with essential Information, and acted with "unseeming precipitation." Special citicism was placed by the judge upon Dalton, dual drector, who was active in the negotiations but did not vote with the directors.

His presence at the directors' meeting and approval of the merger" were in equity breach of trust against public policy," the judge wrote. "The evidence is clear to the court that he knowingly was not acting for all the shareholders of Sheet Tube in that steps them of were the taken existence to of delay and the advising point to, which the privately conducted negotiations had gone." Judge Jenkins said the accoontants' audits of the two companies were misleading and that no definite conclusion on the fairness of the stock exchange ration was possible from their reportBethlehem's bonus system, which calited $3,600,000 to be paid to its in 1929, was mentioned by the judge so one. of the several items (Continued On Pore Three) Cobb Now Chases Fowls In Georgia NE) Once the biggest of big league stars, Ty Cobb's favorite pastime now is chasing fowls. The famous Georgian, still looking trim and fit, here is pictured with his favorite dog and gun' at. Rocky: Creek, as they.

started out for a holday hunt. Fidelity Mutual Appoints Anderson Philadelphia Company Announces Local District Agent Appointment of Roy Anderson as quarters in Hope, was announced Tuesday by the Fidelity Life Insurance company of Philadelphia. Mr. Anderson, operating as Roy Anderson has new offices in the former stand of the Nowlin-Carr Music company on South Elm street. He is former cashier of the Arkansas Bank and Trust has been active in public life in Hope for many years, and has had much experience in the insurance departments of several local banks.

The Fidelity Mutual is one of the large, Eastern, mutual life insuranse companies. It is over fifty-two years old and has resources of over ninety million dollars. The company has always had the reputation of being a leader in its field. Most of the modern features of life insurance have been originated and pioneered by this company, The dislibaity provision was originated by Fidelity Mutual. They were also the originators of Double Indemnity in connection with life insurance.

One of the nowest developments in the life insurance field is the Income For Life plan of paying a retirement fund at given ages, his is also an idea originated by the Fidelity Mutual Life. This company has a number of policyholders in the Hope territory and feels that it is fortunate in being able to secure the services of Mr. Anderson for these policyholders. Big Power Dam Is Nearly Completed. Hydro-Power Project Hot Springs to Be Fininshed Next July HOT of the $7,000,000 Carpenter dam which is being built across the Ouachita river near here, will be completed July 1, 1931, Work was started on the huge project in July 1929.

The dam will have, when completed, two units capable of developing 40,000 horsepower each. The dam will form a reservoir with a capacity of 43,671,000,000 gallons and will be 24 miles long, backing water up to Blanco Springs. The water from the lake will cover an area of over 75 square miles. It is the second of a series of dams to be built by the Harvey C. Couch interests of the Arkansas Power Light company, Remmel dam was the first, with the sites of the Carpenter and Blanco Springs dams to be above it 011 the Quachita.

According to statements made by executives of the company were paid out for labor alone up until June 30, 1930. Power generated at the dam will be placed in a system now serving 20 cities and towns, 2,500 isdustries and several thousand Arkansas farms. The shipping weight of the huge generators will be 510 tons, it was said. Calhoun, Padgitt Win "Ton Litter" Contest in State Hempstead County Men Place First and Third on 180-Day Test HOGS AVERAGE 234 Total of 137 Entered in Contest Finish in Perfect Health Two well known: Hempstead bounty. farmers placed first and third 16 the 1930 Arkansas ton-litter contest, M.

W. Muldrow of the University Extension Service announced Monday at Little Rock, Elmer Calhoun headed the list of prize-winners, taking a cash award 'of $75 for first place. Lykins Padgitt, also of this county, placed third and won a prize of $55. The awards had been posted last spring the Arkansas Cottonseed Crushers association, and there was keen competition among leading hog producers the Calhoun's Record Mr. Calhoun made an impressive record.

His litters of 11 pigs, grade Polands, grossed 2,967 pounds at the end of 180 'days, The average cost was a special feature of the contest, -aimed to. demonstrate the practicability of the homegrown protein feed for hogs. Not a sick hog was reported by any of the growers, with a total of 137 hogs at an average weight of 234 poonds when checked in, Mr. Muldrow reported for the University Extension Ser- vice. Other Winners, Other prize -winners about the state were: Second, Fred Halter, Conway, $65; fourth, J.

A. Gilliland, Beebe, Lon Adkins, Bruno, $45; sixth, Curtis Carson Detonti, $40; seventh, Earl Williams, Nashville, $35; eighth, Marvin Bridwell, Harrison, ninth, Ken Askew, Valley Springs, $25. Bay State Police Lose Liquor Law Massachusetts Attorney General Limits Enforcement Work BOSTON repeal last the Massachusetts state hibition enforcement law leaves state propolice without authority to prosecute general liquor offenders. State police have no power to onforce the national prohibition act, but under other state laws can make arrests for illegal dealing or transporting of intoxicating liquor, Attorney General Warner ruled in an opinion Tuesday. Warner's opinion was given in reply to a request by the commisisoner of public safety as to the exact nature of the prohibition powers of state police, 0).

0. Mitchell, of Saratoga, Is Dead Funeral to Be Held at Columbus at 11 Wednesday Morning O. O. Mitchell, a well known Hempstead county citizen, died at his home in Saratoga at 8 o'clock Tuesday morning, according to a message from The Star's correspondent at Columbus. Mr.

Mitchell was born and reared at Columbus, and lived there until two years ago, when he removed to Saratoga. He had' been ill for the last six weeks. The funeral services will be held 11 o'clock Wednesday marning, with burial at Columbus, The officiating clergyman will be the Rev. Mr. Wiles, Baptist minister at Columbus.

Mr. Mitchell is survived by his widow and six children, and the following sisters and brothers: Mrs. Eugene Bishop, of Emmet; Mrs. Charles Cannon of Saratoga; Henry and D. D.

Mitchell of Columbus; and Bascom Mitchell, of Emmet. Noted Hubby's Doings For Over 35 Years New Lexington, Edgar Duffy knows just what her husband has been doing every day for the past 35 years, She knows also what kind of weather New Lexington has had every day for the same length of tine. She has one of the most complete diaries covering every day happenings in this section. It shows the weather and what her husband did in the way of work each day in that period. Bulletins for a Kan- -Motions new trial And arrest: judgment were filed.

Tuesday Th behalf of Major Charles A. Shep. ard, convicted' of murdering His wife with polson at Fort Riley June, 1929. The motions will heard in court here February the date set for the passing of settence sessed on life the prisoner. Imprisonment A jury abl against the army officer, returning this verdict in.

court: at Kansas City December 22. CHICAGO. Jack bitiness manager for the liquor and vice syndicate, sentenced to five. years in Leave -penitentiary and $17,500 Tucsday by U.S. Judge Charles E.

Woodward for evading Income tax payments. dge Woodward overruled. a motion for a now Wreck at McNeil on Cotton Belt Henry Cox, Brakeman, Injured Early Tuesday Morning McNEIL, -Henry Cox, brakeman, of Pine Bluff, was injured in the derailment of 15 cars of a Cot! ton Belt freight train westbound near, here early Tuesday. The wreck apparently was due to a broken rail, trainmen said. Banks Closed in 2 States Tuesday Four Suspended in Mississippi, Two Being at Clarksdale LITTLE state banking department Tuesday announced the closing for liquidation the Bank of Stephens, at Stephens, and the suspension for five days.

Tof the Citizens Bank Trust at England; and the Bank of Chidester, at Chidester, Four Close in Mississippi JACKSON, Miss. banks closed Tuesday morning in Mississippi. Those failing to open were: The Bank of Walnut Grove, at Walnut Grove; the Bank of Lena, at Lena; the Planters National Bank at Clarksdale, and also the Planters Trust Savings Bank, of Arkansawyers Get 8 Big Tax Refunds Power and Lumber Interests Lead on Income Tax Figures of corporations today their balance sheets restored somewhat nearer to the normal with announcement by the no treasury department of more than 10,000 tax refunds, involving the return of $126,836,333. large sum represents only about 65 per cent of last year's total when $190,164,359 was returned. As has happened before, the United States Steel corporation, the nation's largest business enterprise, received the lion's share of the returns.

It received $15,205,343. The next largest return was given to Swift Chicago meat packers, who received 068.922. John D. Rockefeller was given the largest sum of any individual when he received $188,406. Henry Ford got only $46,000.

The estates if wealthy persons came in for much larger slices the large sum than any living. indiciduals, due to the complicate? system of assessing inheritance laxes. The Horace E. and John F. Dodge estates led this class, obtaining $973,015 and $782,875 respectively.

The complete outlay of figures made available by the treasury department announcement is expected to furnish fresh supply of. p.mmunition to Democrats in Congress have frequently had secretary of treasury Andrew W. Mellon under fire for the amount he has refunded wealthy tax payers and Republican campaign fund contribu-1 tors. Those who received tax refunds in Arkansas are: Arkansas Power Light Pine Bluff $25,840 Richard Buchanan, Stamps 16,285 Nirs. Sula J.

Burkett, Camden 5,583 Indiana Arkansas Lumber Manufacturing Co 5,356 Lucille Simmons Jones, Pine Bluff 7,435 O. G. Murphy. El Dorado 16,345 Estate of Orville O. Scroggins, (Executors' address Washing.

D. C. 7.183 Terry Dairy Company 11,138 13 More Robbers Being Returned to Hope on Tuesday Two in County Jail Late Monday--All Six of Band Captured ONE MAN WOUNDED Joe Hudson, on Texas Side of Texarkana, Will Fight Removal Two of the 'six suspects arrested in Texarkana, Monday for the attempted robbery of the Ritchie Grocer. company warehouse in Hope, are in the Hempstead county jail at Washington, Chief of Police Clarence Baker is in Texarkana again' Tuesday to return three more to this and the sixth man, badly wounded, is on the Texas side of Texarkana declaring he will resist removal for trial in All six men were identified as Texarkanians, some of them with well known police records in that city. Ivy Markham and Ralph Elliott are in jail at Washington.

Chief Baker Tuesday is returning Bob Lamar, Tony Wakin and Chester Elliott to this county. Hudson to Fight The wounded man, Joe Hudson, is in the Texarkana (Texas) city jail. Requisition papers will be sought for removal to stand trial in Arkansas. Following their sensational arrest only a few hours after a gun battle early Monday morning at the Ritchie warehouse in Texarkana officers brought to light further infornation on the wounded man Hudson. He had been out on bond on a federal charge of violating the prohibiution law.

being failed for, the robbery he was notified that his. bondsmen had also surrendered him on the prohibition charge. It is believed the federal authorities will release him from' the prohibiton. charge in order to permit his to Arkansas for trial on the robbery attempt. Badly Wounded Hudson was dangerously, wounded in the right arm Night Policeman Homer Burke, of Hope, fire point-blank through the warehouse door.

Hudson dropped his own revolver and fled to a waiting car where his five companiens opened fire on Burke, The robbers got away, but a telephone call to the Fulton toll bridge verified the fact that they were headed for Texarkana, having just passed the bridge. They were arrested shortly' afterward by Texarkana city police. ed the washing their The Texarkana' authorities discoverstained car at a filling station in that city. Hudson had been removed to one, of the men's homes, where he was later arrested and taken to jail, His Home Savings Bank Walked Out Little Rock Lad Hides $15 in Shoe- -Mother Gives Pair to Poor LITTLE -The "best laid plans." of G. G.

Speed, 15, went amiss. The lad had worked hard to save $30 and now he doesn't know where his money went. His mother realized the need of the poor of the city and gathered a bundle of worn clothes, included up, in it was an old pair of G. shoes. She delivered the contribution to the Red Cross headquarters and dismissed the incident from her mind.

Then G. G. looked high and low ior his old shoes and then asked his mother about them. When told where the shoes had gone he cried, "All my Christmas money is gone." He had placed money in the shoes for safe keeping. Now he guesses the poor got the money too.

Radio Aids Music -High praise of the radio and the talking machine for "increasing the consumption of music" was voiced here by Professor Olallo Morales, secretary of of the Royal SwedAcademy Music at annual meeting. ventions, the Instead of deriding these inprofessor said that the time had now come when the should make peace with the present muses generation and its mecahnical equipment. Dog Liked Old Home OTTAWA, -Fergus, a Cairn terrier, owned by Sir William Clark, British High Commissioner, showed averson to living at the historie Earncliffe, former estate of Sir John A. MacDonald and present home of his master. Recently he jumped out of the high commissioner's car in downtown Ottawa.

Ho was found later at the former residence of Sir liana In Cooper stroot. Radio Trouble Is Corrected Here Loose Conection on Missouri Pacific Signal Line Started Interference Waves Which Crippled Local Reception for Week--Radio Men Find the Trouble and Railroad Corrects It which has mysterious radio, paralyzed interference, day. morning they discovered that the ception since nearly Christmas local re- trouble must be in the railroad comdown and corrected Eve. was run pany's signal transmission Local line paralleling the track. Officials of Tuesday.

radio fans who for the last the Missouri Pacific sent. three men week have found their sets drowned on a motor-car the main cent by. 'a terrific buzzing on 90. per line, examining hand transmission line. but of the points, may' dis- Just east of Hope cover for themselves Tuesday night connection, through they which' found the a loose whether the trouble has been cor- ful current.

was in powerrected or not. This set interference escaping an arc. Three men from two local radio to radio up and these waves followed similar radio waves, the the sales firms have been tracing electric line back Boyett trouble and for the last week. Thomas set up an induced current, and addis to Hope, where they. McRae Hardware Hays of the K.

G. tional interference, in every electric company, and Je- line ip Hope. have taken Mills, of W. A. J.

Mills': shop, Co-operating with the radio sleuths turns in touring the city and the Missouri Pacific with a special radio set and loop at- of the were officials tempting to detect the source of the other Hope electrical Water, people, Lght all of Plant, whom and interference. were" glad to be able to end The trail led them to the right-of- which virtually a trouble of the Missouri Pacific, and Tues- mission here for comput radio out of way the last week. Shortage Laid to Veteran Employe A Reports $19,000 Loss on Vanished Asst. Sect. LITTLE ROCK--Another.

Chapter the stormy history of the closed Trust company, which" a depositors committee is planning to reopen next month, was written Monday when charges a $19,000 were made against Joseph J. McGrath, 41-year-old assistant secretary of the bank. The shortage had been discovered by the bank own auditors, and was reported several weeks ago to J. W. Jarrett, chief bank examiner who took charge of the bank in November.

A written statement to this effect was among the papers that went agent, assumed charge of the bank Monday. Mr. Wilson turned the matter over to the Prosecuting Attorney, Boyd Cypert. McGrath disappeared November 21 and efforts to locate him have been futile. Just before his departure.

he was said to have telephoned to annother employe of bank telling of his plans to leave the city. He requested this employe to notify officials of the bank, but did not indicate his intended destination. For several years McGrath had worked as an assistant secretary of the American Exchange Trust in charge of collections, is first- position was that of messenger in the Bank of Commerce, one of the predecessors of the American Exchange, in 1909, and he had been in the servic of the American Exchange and some of its predecessors continuously for more than 21 years. It was enplained that the alleged shortages had been perpetrated by manipulation of bill of lading drafts. Federal Reserved and state bank examiners spent 10 days from October 14 to 24, Inspecting the records of the American Exchange in the and found nothing wrong, is was said.

his was only a little more than a month before the bank's found the discrepancies. Proscuting Attorney Cypert charged McGrath with grand larceny and embezzlement, and advised Maj, J. A. Pitcock, chief of detectives of the Little Rock Police Department, of the case. A warrant will be issued and officers will undertake to locate McGrath, it was said.

Senator Thinks No, 13 Lucky Seat for Him LITTLE "13" is not unlucky. Anyway that is the claim of Senator J. F. Brewer, Fort Smith. He has occupied seat number "13" for the past three legislature sessions.

To make sure he will take his old place when the legislature meets Jan(uary 12, he secured permission from Jim B. Higgins, secretary of state and custodian of the senate chamber to place his name on seat "13." Senator Brewer has served seven years as legislative representative from the twenty- -eighth senatorial district, which comprises Sebastian coun1y, LEGION MEET SET BACK On account of the holiday, the Leslie Huddleston post has postponed its first meeting of the new year until Thursday, January 8. The regular meeting Thursday, January 1 but the date was set back. one week, according to Dewey Hendrix, post commander, ut the request of several of the members, N.Y. Central B.

8.0 and Nickel Plate to Hold Control Pres. Hoover Announce That Roads Hive Agreed to Plan TO LEAVE FOUR LINES Organization of uteri Roads to Be Followed in West and East WASHINGTON (P) The Eastern railroads have, agreed federal program of consolidations general way, leaving minor be worked out later. The president has obtained agreement of such roads, at the York Central, Baltimore Ohio, Nickle: Plater The consolidation program must submitted to congress for final proval. It represents the climax of a federal consolidation pogram launched some time ago, to' bring all the railroads the nation into 10: or. 12 independent groups and eliminating much or the federal regulation now made nece sary by duplication of routes and terlocking of ownership interesta Tuesday's announcement president is to clear up situation in the East, providing gress approves; leaving the West and South still to' be organized.

Clerics Lead Dry Fight; No Others Laymen Won't Do It, League Chief Tells Editor NEWARK, N. Clergymen are leading the prohibition forces be-: the cause Rev. no laymen are willing to do James K. Shields, superintendent of the New: Jersey' Anti-Saloon League, declared Tuesday in an swer to charges; made by' Stanley. High, editor of the 'Christian Herald.

Mr. High had" said that laymen were kept on the outside of. recent prohibition meetings in Washington. East Arkansan Is Cotton Champion Wilson (Miss. Co.) Boy Produces 2,800 Pounds on Acre LITTLE ROCK--H.

J. Meadows a student in the Wilson High School at Wilson, Mississippi county, won the 1930 cotton growing contest for vocational agriculture students of Arkansas, sponsored by the Chilean Nitrate of Soda Educational Bureau and the Mid-South Cotton Growers association, it was announced by R. B. Smith, state supervisor of cational agriculture and superintendent of the contest. The value and quantity of lint and seed and cost accounting reports were taken into consideration in determining the winner of the contest.

The contest was open to all boys enrolled in vocational agriculture classes in public high schools during the 1929- 30 term. The state Department of Edfor has supervised such contests several years, and students' in Mississippi county have won first place every year with one or two exceptions, W. L. McArthur, local representative of the Chilean Nitrate of Soda Educational Bureau, has co4 operated with the Department of Education and the Cotton Growers' Association in conducting contests. Young Meadows produced 2,801 pounds of lint cotton and 6,460 pounds of seed 011 three acres.

The total value of his crop, based on the market of December 15, was $308.71. His net profit was $186.19. The low cost of production and excellent cost accountwhich records carries gave Meadows first place, a $25 cash award and a gold watch. Lame Now Emphasized -Lace and chiffon lame are being emphasized by London's most fashionable dress salons. One of the smartest gowns seen this seaon is made from thick white silk embroidered in bands with minute cream- colored paillettes sprinkled with diamante.

Pastor Turns Clerk OKLAHOMA CITY. -The Rev. Newton H. Royer, former pastor of the First Lutheran church here--a post he had held for 21 years, was not unemployed long. Royer resigned recently as the result of a controversy over among his his "modern and liberal" congregation.

He was at work today as a clerk in the office of Paul Huston, assistant county treas: UTOF. Collegians Rush Big N. Y. Theater 'Police Break Up Mob 200 47. Spend the Night in Jail NEW YORK- After a march Broadway 200 sophomores of the City College of.

New York stormed Rivoli theatre early Tuesday morning: and" 47. of them landed in jail. Climaxing the annual class smoker, the collegians thronged the theatre battling themselves and patrons for and rushed the doormen, seats, they threw the audience into turmoil. Chemical bombs and amonia, were hurled about the theater. Answering a riot call, police blockaded the door ways and ordered the lights turned but The students scampered for.

cover 47 were arrested and. spent. the night in jall rather than rouse sleepy. eyed, irate parents go their ball Joffre Continues at Death's Doors French War Leader Faint and Very Near the End PARIS (P) The hero': of Marne, Marshal Joffre, continued close to death's door Tuesday, Professor Leriche, of the physic cians, asked the marshal if he felt better, The veteran made a faint sign which the doctor took to mean that he did and his breathing became again. regular Then M.

Joffre drank a half glass water and appeared to go to sleep, Half Billion for Veterans in 1931 Loan Values of 21 Million Available This Jans uary, Says Hines WASHINGTON S. Veterans Bureau could estimated Tuesday that $425,000,000 justed be borrowed compensation by veterans on ad1931. certificates. in Mr. Hines said the bureau was pre pared in to lend $21,000,000 to 300,000 veterans January.

Foods Shipped by Air delicacies now travel by air to; MALMOE, Culinary from Sweden, instead of by rail and boat Rhone as before. Thus grapes from the valley and oysters from the coast of Brittany are sent via air press from Paris on the Amsterdams Malmoe line and the next day delebt the palates of gourmets in Stockholm or Gothenburg. Swedish specialties such as crawfish, are also frequently shipped abroad in the same.