The St. Louis Star and Times from St. Louis, Missouri • Page 1

(IT )s Complete Dispatch'es of United Press, International Xews Service and Universal Service LATE HOME EDITION SaM "STAR" Alnf t-J Tre Mrfc Mgtstered I II iTPAGES PRICE TWO CENTS VOL. 42 NO. 236. ST. LOUIS, FRIDAY, JULY 6, 1928.

DEATH STALKS HIS STEPS CHAMPION ROLLING PIN TOSSER OF THE NATION NOBILE RESCUER IS RESCUED BY FELLOW FLYER BANKER, SHORT $100,000, SAYS HE WAS DUPED Erwin Voliy of Milwaukee Declares Blackmailers Tricked Him Into Theft After 'Sure Fire' Tip on Market. Lieut. Lundborg Taken Off Small, Thin Ice Floe in Same Manner That He Brought Out Italia's Commander. THREATENED AFTER HE TOOK HIS FIRST $1,000 MAROONED WITH OTHERS FOR NEARLY TWO WEEKS -V If 'i F- -i ft -T a i Death Toll for Six Days of Torrid Wave Is Now 14 Weather Bureau Forecasts Local Thundershowers, Though Not Much Change in Temperature Is Promised. Jf Mottej Taken During Two-Year Period, Young Teller Confesses Prisoner Is Married and Father of Two Children.

Swedish Planes Now Said to' Be Attempting More Landings on Tiny Block to Sare Five of Dirigible's Crew. Developments today the sixth day since the present wave of corn paratively high temperatures 'struck St. Louis Sunday are: Seven more deaths, making a total of fourteen since Monday, according to a compilation by the police. The prediction of the United States Weather Bureau, promising aiight relief and reading: "Partly cloudy tonight and Saturday with local thunderstorms. Not much change in temperature." A five-degree temperature drop between midnight and 8 a.

ccom- panied by a slight breeze. 1 1 i 4 ll Thin gray clouds kept the burning rays of the sun from the city during the morning, and the vagrant breeze that pleased early risers, reappeared at intervals. The promise of thunderstorms indicated that today's early humidity figure 89 at 7 a. m. might be sur BANKER COULDN'T HAVE OPENED DOOR OF PLANE ALONE passed before the day was over.

At noon yesterday the humidity was a2 it viwWifiiiiiflHa1" Pacific and Atlantic. "SCARFACE AL" CAPONE. STOCKHOLM, July 6. (By U. Lieut.

Einar-Paal Lundborg, Swedish hero isolated at the Italia ice camp off Northeastland, was rescued today by his fellow-aviator and close friend, Lieut. Schiberg, the ministry of defense announced. Schiberg duplicated the feat by which Lundborg flew to the camp in a small airplane, landed on the treacherous 600 by 900 feet ice floe, now dangerously thin, and rescued Gen. Umberto Nobile, the Italia's commander. On a second flight, Lundborg's machine crashed on the rough ice.

Since then he had been isolated with the five men of the Italia crew who had pitched camp there. Several planes, all equipped with skiis as was Lundborg's, had failed to effect a rescue. Schiberg started out from a new base at Valoen, near the Hinlopen Strait that separates Spitzbergen from Northeastland. Soon after news of his rescue was received here, Lundborg sent a message to his wife, saying he was safe aboard the rescue ship Quest, at Virgo Bay that he was in good health. Almost frantic enthusiasm marked the rapid dissemination through Sweden of the heroic aviator's rescue by a fellow-Swede.

Swedish planes are now said to be attempting to rescue the five members of the crew of the Italia who were on the ice floe with Lundborg. These five men include Lieut. Tests by French Air Experts Raise Hoax Rumor in Loew-enstein Death. AI Capone Plays. Grim Game of Hide and Seek With Death A.

Underwood ar.d Underwood Pholo. Mrs. Robert Freer, wife of a prominent Washington attorney, who won the roller pin hurling championship of the country when she tossed her trusty weapon 56 feet, 3 inches in a recent contest. MILWAUKEE, July 6. (By I.

N. Sj A young bank teller who confessed he had been tricked into "borrowing" $1,000 from his bank to play the stock market, and then forced to steal $100,000 more to silence those who knew of his guilt, was held in $50,000 bond today following his arraignment before United States Commissioner Kellogg. He is Erwin Voelz, married, and the father of two children. Until the revelation of the shortage caused his arrest, he was a respected employe of the National Bank of Commerce. According to Voelz' confession, made soon after his arrest, he was a victim of two professional blackmailers who deliberately plotted his ruin.

These men, he said, came to him with a "sure fire" tip on the stock market. "I played the tip with $500 of my own money, and lost," said Voelz. "They told me this was 'just an accident' and that I could recoup by playing $1,000 more. They urged me to use the bank's moneyjust for a day or "So I took $1,000 from the bank, and again I lost. Then these men showed me their real purpose.

One came to me and said, 'Now that-you owe the bank $1,000 you might as well take another thousand for us, because if you don't we'll inform jour employers." "Well, they had me. I took another $1,000 and gave it to them. Then I owed the bank $2,000. The situation crazed me. The men kept demanding more.

I kept paying them. Most of it I was obliged to send them by telegraphic money order." Investigators found records of these telegraphic orders, amounting to $96,000, over a period of two years. Voelz system was this: When a customer deposited money, Voelz entered the correct amount in the pass book, but entered a smaller sum in the bank's own records. Since he took all the money from the accounts of wealthy men, the shortage was not immediately discovered. It was revealed when a depositor of the bank who believed he had a substantial balance requested a draft for $11,000.

He was told he had a balance of only $3,000. King of Chicago Racketeers Wants to Quit but Can't Under Heavy Guard Even When He Visits Barber. 64; at 7 p. 71. One man died from the heat Monday, and six succumbed Tuesday and Wednesday.

Three persons collapsed and died yesterday afternoon, when, with a particularly high humidity resulting from rains the night before, the thermometer soared to 91 degrees. Those who died yesterday were: Mrs. Emma Young, 20, years old, collapsed at her home, 2435 South Second street, and died at the City Hospital at 5:30 p. m. Charles Voss, 47-year-old tinner, 2518 South Broadway, collapsed at 2:45 p.

m. while he was working at the International Shoe Company branch at 3400 South Broadway and died at Barnes Hospital at 9:15 p. m. Thomas Hussey: 74 years old, 2626 South Ninth street, collapsed at noon in a store at 901 Victor street. He was dead when City Hospital physicians examined him a short time later, Steve Duncan: 24, negro laborer of 3505A Laclede avenue, collapsed Monday while working in the wheel department of the American Car and Foundry Company.

2800 De-Kalb street, and died yesterday afternoon at the People's Hospital. Frank Siefert: 65, laborer, 162 Sidney street, found dead In his room. Was last seen on July 4, and is believed to have died yesterday. NEW YORK THRONG I ITALIANS SAFE IN GIVES OVATION TO i BRAZIL FOLLOWING AMELIA EARHART i FLIGHT in First Woman to Fly Atlantic Be- Previously Reported Lost wildered by Crowds and Storm After Setting New Receotion. Distance Record.

fJEREWITH is presented a day with "Scarface Al" Capone, a leading figure in the machine gun and bombing war for control of Chicago's gambling, racketeering, vice and liquor traffic. BY JAMES K. MARTIXDALE. Copyright. 128, bv United Press CHICAGO.

July 6. It is midnight. Chicago's famous "boui' Mich'" is not yet deserted. The raiii-beaten gray of a stone structure at Michigan boulevard and Twenty-third street is mingled with the darkness of the structures on the edge of Chicago's "Black Belt." An electric sign suspended over the doorway of the stone building announces the Met-ropole Hotel. A "for hire" taxicab serves as a leading pole for three men, dimunitive of stature, whose careless posture in no way conceals their furtive, ever-watchful glances up and down the boulevard.

These are the outposts of "Scarface Al" Capone's stronghold, wherein resides the lord of Chicago's gangand, whose death long ago was decreed by his rivals, but whose cunning and power of organization has retained for him a dominant position in gangland. Viglieri, who was placed in command of th group after Nobile left, and Natale Ceccioni, engineman on the polar dirigible, who was injured when the dirigible crashed May 25. The Soviet ice-breaker Krassin, which was making good progress through the ice-floes toward the encampment, has been blocked by the masses of solid ice and there was small chance that the ship could reach the men today. It was also reported that the ship's propellor was damaged by the ice and that immediate repairs would have to be made. NEW YORK, July 6.

(By U. Amelia Earhart came home in triumph today. Up through lower Broadway, where New York shouted its acclaim to Lindbergh, Chamber-lin and Byrd, rode the young Boston woman who joined the select band who have conquered the Atlantic by air. With her were her John Gaydek: 50, engine hostler, companions on the flight from Tre- i passey Bay to Wales Wilmer Stultz, the pilot, and Lou Gordon, mecha- nician. The heroes were met by LIGHTNING KILLS FIVE AS STORM HITS SOUTH employed by the Manufacturers Railway, collapsed while working at 2100 South Wharf and was taken to the City Hospital where he died at 6:30 p.

m. Philander Loker: 69, was found dead in bed at 111 A South Sixth street. He had been complaining of the heat for several days and had been ill. All city parks have been crowded with persons sleeping there to escape the stifling air of then-homes. Many have slept in automobiles in the parks.

Others have spread newspapers on the ground and on park benches to form temporary beds. 'Big Tim' 'Murphy, First Had $1100 at Death CHICAGO. July 6. (By U. Although known to have made fortunes in his vast ventures.

Big Tim Murphy, the original racketeer and labor leader, left an estate of only 1,100. It was his desire to get into higher-paying "rackets" and regain his former prestige in the underworld that was believed to have caused Murphy's death. He was shot and killed in front of his home June 30. ATLANTA, GA July 6. (By U.

Five persons were killed and five injured by lightning during sharp electrical storms in North Carolina and Georgia. Three New Orleans boys and a 45-year-old man were killed near a Hendersonville, N. camp "yesterday when lightning struck a tree. Two others under it were shocked. A 6-year-old boy was killed at La Grange, and his sister badly burned.

At Macon, two persons were shocked by lightning. A storm of near cloudburst proportions struck Northern Georgia early last night. Streets were flooded in Atlanta. Lightning set fire to the plant of the Southern Iron Equipment Company, causing extensive damage. PARIS, July 6.

(By U. P. The disappearance of Capt. Alfred Loew-enstein. international financier, from his private airplane was plunged into deeper mystery today when experts asserted after tests, that a man alone could not open the cabih door of a plane like Loewenstein's while it was flying.

The tests were made with a Fok-ker plane similar to Loewenstein's and at an altitude of 4.000 feet the same height and at the speed at which Capt. Ronald Ddrew. Lowen-stein's pilot, had said the plane was flying over the English Channel when Lowenstein is reported to have disappeared. In this type of plane the wing propellor caused tremendous air pressure directly on the door leading out of the cabin. Previously there had been two theories regarding Loewenstein's disappearance one that he stepped from the door by accident Instead of entering a similar door to the plane's retiring room; another that he walked from the door deliberately, as the plane sped over the English Channel.

Croydon airdrome officials had said tha tbefore he left, Loewen-stein rose from his cabin seat and inspected both doors with such in tentness as to cause them to remember it. Hoax Rumor Circulated. To the two original theories, a third was left open to the imagination by the Le Bourget tests and the Croydon statements that Loewenstein did not, as had been believed, walked through the door at all while the plane was in flight. This sensational turn in the tra-edy Indicated a hoax. Unconfirmed rumors were circulated that th plane, which was carrying Loewenstein, from London to Bmsels, was seen to make a landing on an delated stretch of coast near the village of Bray Dunes.

According to these report the plane passed Dunkirk and had nearly reached the Belgian frontier when it turned back. It was rumored that certain of Capt. Loewenstein's employes had been arned in advance that he might "disappear." Friends of the capitalist classified these rumors as absurd. Describes Disappearance. Seven other persons were in the plane at the time of the tragedy and all have made statements that throw no clear light on what happened.

In addition to the pilot, there were aboard a mechanic, Robert Little; two men secretaries, Hodgson and Callum, both British; two stenographers, Ethel Clark, English, and Mile. Bu-dalon, French: and Frederick Baxter, an English valet. The clearest account of the trip itself was given by Secretary Hodgson and is confirmed in its essentials by the other passengers. Hodgson said: "Capt. Loewenstein was sitting in the front seat, across from mine.

He had been reading a book. Suddenly he laid it down on his seat, leaving it open at the place where he was reading. He said he was going to the compartment at the rear of the plane, and smiled as he did so. "He then walked to the door of the small cabin in the tail cf the machine. When he did not return after fifteen minutes the valet and myself went down the gangway and knocked at the door of the rear cabin.

There was no response. We went in and there was nobody there. "Then we saw another door nearby in the side of the plane. It was not quite closed, so I became fearful and gave the alarm to the Rains Heavy in Two Counties. The heaviest rain of the year fell early today in the northern part of Bond County, 111., and the southern part of Montgomery County, Mo.

One mile of railroad track of the Nickel Plate Railroad at Ramsey, fifty-five miles northeast of St. Whalen, chairman of the mayors reception committee, wrho went down the bay in the city tug Macom to escort them to City Hall. They were taken off the S. S. President Roosevelt.

Waiting to greet them were Mrs. Stultz, Mrs. Clara Stultz, mother of the flyer, and Miss Anna Bruce of Brookline, who promised to marry Gordon if he flew the Atlanta and who will keep her promise. Harbor craft made a lane of dipping flags and shrieking sirens as the Macom steamed up the bay. On the upper deck stood the crew of the monoplane Friendship, waving si Rain ceased just before Miss Ear-hart and her companions boarded the tug, but the skies were murky.

Miss Earhart was dressed in a modish gown and a small, trimly-cut hat had displaced the leather flying helmet. An escort of several thousand police met the flyers at the Battery at 10:30 a. m. and preceded them to the City Hall, where they were officially welcomed. Miss Earhart seemed bewildered by the crowds that lined lower Broadway and the interest that her Altogether, there are perhaps ten men, members of Al Capone's gang, "planted" about the entrance of the Metropole Hotel.

Entering the hotel, one faces only more furtive glances, and shortly the curt questioning of serious appearing individuals, who brush close and ask your business. Preparing for Bed. Four flights up, Al Capone is preparing for bed. In a suite of rooms, off a wide areaway Al enters his room but only after his trusted bodyguards have inspected every opening, have fastened securely the steel sheetings at the windows and the steel sheets against the door. The lights are dimmed, and Capone dons silken pajamas and gets in bed.

In the bedroom are more armed bodyguards, never far from his side. He is awakened after the day is well along and goes about his toilet in princely manner. Capone is a gentleman in appearance, meticulous and even old-maidish in his habits. Breakfast is brief and the food is carefully inspected before it reaches the table. Capone, eats heartily.

His 6-foot 1-inch frame carries nearly 200 pounds of bone anfl muscle. Guarded at Barber Shop. After breakfast, still surrounded by the bodyguard, he goes to a nearby barber shop and, with the bodyguard still near him, takes a seat in his accustomed chair. The barber, a tried and trusted servant of the gang master, is ever watchful for the jumpy nerves of his distinguished patron. There is a wide scar on the left side of Capone's face the mark of a knife duel in Brooklyn which must be treated carefully.

At the slightest move of another customer, Capone sits upright and his bodyguards move close to him. Louis, was either washed out or made too dangerous for travel and RIO DE JANEIRO, July 6. (By I. N. being reported "lost" for hours, word was received here today that the Italian aviators, Maj.

Arturo Ferrarin and Maj. Carlo Del Prete, who made a record non-stop flight from Rome to Brazil, landed at Touros, on the Brazilian coast fifty miles north of Natal and 1,500 miles north of here, at 10:10 o'clock last night (7:10 p. m. St. Louis time).

Gov. Lamartine of the State of Rio Grande Del Norte telegraphed that the flyers were safe and had spent the night at Touros. Owing to the inability of radio stations to get in touch with the airmen, it had been assumed at first that they spent hours flying over the coast in storm and fog before landing. Ferrarin and Del Prete had made their first landing cn the beach ten miles north of Natal at 7:50 o'clock last night (4:50 p. m.

St. Louis time), completing their flight from Rome in 51 hours and 59 minutes and setting an aviation distance record. After a rest of an hour and twenty minutes they hopped off again for Rio De Janeiro, Storm Grows Violent. The weather was bad off the coast with storms sweeping some sections of it, but the flyers said they would risk it. But when they failed to report their location and the storm on the northeastern coast had increased in violence, the Brazilian seaplane "Lactecoere" hopped off at Natal at 6 a.

m. today to fly up and down the coast in search of the Brazilian machine. A seagoing tug, with the commander of the Natal port aboard, set cut to hunt along the beaches. When the flyers were reported down at Touros today Lamartine left immediately for that place to give what assistance he could. Immediately a caravan of motor cars set out for Touros from Natal.

The two flyers now hold two of the most sought after aviation records. Recently, they established the world's endurance flying record of 58 hours and 36 minutes in their Savoia-64, the same plane in which they crossed the South Atlantic yesterday. Now they have broken the long distance flight record made by Clarence Chamberlin and Charles A. Levine, who flew 3509 miles to Germany from New York last year. Flyin? Conditions Not Best.

The gray Saciot-Marehetti monoplane, capable of 150 miles an hour, had been prepared secretly for the great test. Tuesday evening Continued on Page 3. Col. 1 trains were routed over the Pennsylvania line. The track was expected to be repaired late today.

Shoal and Bear Creeks, overflowed, inundating adjacent lowlands. Telephone wires were down in many places. CORAL GABLES CREDITORS REQUEST RECEIVERSHIP MIAMI, July 6. (By U. Hearing on a requested receiver-Wp for the Coral Gables, one of the most ambitious Florida realty developments, was set today for next Tuesday.

Three creditor companies, with claims totaling: only H.000, asked the receivership in federal court yesterday. Coral Gables, a Miami subdivi-on. recently was taken ever by a froup of New York bankers. Indebtedness at that time was estimated at $29,000,000. Creditors we asked to accept reductions in claims, pending refinancing.

The Petitioners are the Walton and Spencer Company of Chicago. An-nin and Company, New York; Four Seas Company, Boston. MOVIES TO BE BROADCAST BEGINNING AT 8 TONIGHT Washington, July 6. By u. -Movies by radio will be broad-every Monday, Wednesday and da.v, beginning at 8 o'clock fey Francis Jenkins, wire-expert here.

Silhouette plc-resembling cartoons in action, ul be sent, in a few weeks halftone pictures in motion will be Mown, The broadcasts will be on 46.72 ers, with forty-eight lines per sond lnd fUteen Pictures per DOUBLE CAR FARE FROM WOODSON ROAD PROTESTED DRIVER IN A HURRY, HIS SISTER HAD TAKEN POISON A probationary patrolman, Richard Carrol, of the Soulard street police station, was walking his beat at 1:45 a. m. today when he saw a coupe with no lights rush past Thirteenth and LaSalle streets. His call to the driver to stop un-headed. the probationary patrolman drew his pistol and fired three shots in the air.

The coupe was halted and the driver, who had a young woman with him, explained hurriedly: "This is my sister. I'm taking her to the City Hospital. She took poison." The policeman accompanied the driver, who said he was Frank Newman. 29 years old. of 715 South Boyle avenue, to the hospital, where the young woman, Miss Sybil Newman, was treated.

Then Probationary Patrolman Richard Carroll arrested Newman, charged with driving without lights $100,000 MORE BLACKMER PROPERTY ORDERED SEIZED Continued on Page 2, Column 7. A meeting to protest against establishment by the Public Service Company of a double fare from points west of Woodson road to the Delmar loop will be held at 8:15 p. m. Monday at All Soul's Hall, Hood and Tennyson avenues, Overland. The fare increase, effective July 1, represents a 60 per cent increase, according to Tom Crosby, D.

N. Johnson and B. A. Springrose, members of the committee calling the meet THE WEATHER Forecast for St. Louis: Partly cloudy tonight and Saturday, with local thunderstorms: not much change in temperature.

WASHINGTON, July 6. fBy I. N. H. M.

Blackmer. missing Teapot Dome oil witness, was ordered today by Justice Jennings Bailey of the district supreme court, to appear on October 15 to show cause why he should not be held in contempt for failrue to appear at the last Sinclair trial. Another $100,000 of Blackmer's property was ordered seized pending outcome of the case. A similar amount of were taken when Blackmer did not show for the Fall-Sinclair mistriaL Blackmer is a fugitive abroad. ing.

i and operating an automobile with out a city license. Capone returns to the "throne i For Missouri: Partly cloudy tonight and Saturday; local thunderstorms in north and east portions; not so warm Saturday in north portion. For Illinois: Partly cloudy tonight and Saturday; local thunderstorms tonight in north portion and along Lake Michigan Saturday. room" of the Metropole Hotel where, in a high, steel-backed chair, COUNTY GRAND JURY he meets his men. salesmen, col- APAIM IW leagues and lieutenants.

Guards are OLOOiun GLOBE GIRDLERS IN BERLIN FOLLOWING DELAY BY FOG BERLIN, July 6. (By I. N. S. John Henry Mears and Capt.

Charles Collyer, American globe gir-dlers, who set out from New York to make a round-the-world trip by plane and steamship within twenty-three days, landed here at 9:08 a tne cornaors ana also in uie BAND CONCERT SUNDAY AT TOWER GROVE PARK "throne room." Conferences go forward through TEMPERATURE READINGS. Assistant Attorney General Lieu-tellius Cunningham, assigned by Attorney General Stratton Shartel to assist Special Prosecutor John A. Nolan in the St. Louis County grand out the day, but very often they are halted when Capone prepares A free band concert will be given in Tower Grove Park from 3 to 5:30 p. m.

Sunday, with H. J. Falken-hainer directing. to leave with his bodyguard fcr the jury investigation of alleged graft m. today, after a delay caused by fog over the Hartz Mountains.

They left Paris late yesterday. After vis- residence of his wile and children COnditions, arrived at Clayton today 2 a. i'j 3 a. 13 4 a. 73 5 a.

77 6 a. 77 7 a. 76 8 a. 75 9 a. 77 10 a.

82 11 a. 84 1 1 1.1 iian inn wa.x2 uur ocnur-man they hopped off for Moscow. DOWNTOWN STORES GO ON SUMMER SCHEDULE tlSnin? their summer schedule department stores ard all dIS apparel stores will be closed lr Y0morrow and each succeed- teen Urday August 18- Be" vili elve and fourteen stores coriin effected by the closing, ac-umg to the Associated Retailers VI Louis. '0 NEW INTER-CITY BUS UNES ORGANIZED HERE lhStion of the American Morbus," the Checkerway av tJ, IiT'es announced to-koa c4heckeay lines will run t0 Chicago, Detroit and tte American will ari. Kansas City and west- Midnight ...80 1 a.

79 Rel. Humid. Temp Drv. Wet. on uie sou-nwest side, ne goes io and immediatelv conferred with No-his home, enters and blends himself lan The jury -mquirv was with the home life there and, for resumed following the conference, diversion, may even scrub floors or Yesterday the jurv heard the testi-don an apron and do the dishes mony of Asstarit prosecuting At-while the men of his bodyguard t0mev Charles N.

Noble relating to play with his children in the yard, lhe reCords of Prosecuting Attorney Before dark Capone returns to Muener'S office. C. R. Lutman. the He seldom stays njght chief of poijCe 0f University out after nightfall.

city, and Bert Belleville, a special His Cicero Headquarters. officer, were other witnesses. The Hawthorne Inn in Cicero, 111-, circuit Judge Mulloy, who impan-is another of Capone's headquar- the jury, directed it to inquire ters and the only place he visits reg- ipito official laxity in law enforce-ularly except his home. Here ment. Many of the most notorious another armored room is waiting resorts of the county have curtailed for the gangster.

He sees more lieu- tnejr activities, or have shut dAra tenants, hears reports of his activi- entirely, since the investigation be-Coutiuued wa Page 2, Column 6. gan, THE ST. LOUIS STAR PICNIC At Forest Park Highlands Friday, July 6, 1928 Admit One Present at Main Gate y.in'tc is given to all the school children of St. Louis free with compliments of The SU Louis Star. I PENNSYLVANIA PLANNING $17,500,000 STOCK ISSUE WASHINGTON, July 6.

fBy U. P) The Pennsylvania Railroad Today's Features Film Folk 6 Bridge Lessons 6 Ragged Princess (Serial). 7 Comic Page 13 Cross-Word Puzzle 15 Daily Short Story 17 Woman's 18 and 19 Sport Pages 20 and 21 Radio 22 sought permission from the Inter 12 noon 85 7o 64 7 p. 83 80 71 7 a. 76 74 E9 Stage of river, 17.1 feet, a fall of 12 of a foot.

Sun sets 7:30 p. m. today, rises 4:42 a. m. tomorrow.

Maximum temperature yesrday, 91 at 4 p. minimum, 65 at 4:30 a. m. i state Commerce Commision today to issue $17,500,000 of caDital stock to be offered to officers and emolovea of the road at $50 a share on a monthly payment basis..