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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 04, 1926
Page
1
Financial writers react favorably to a sharp stock drop linked to artificial value, noting potential quick rally if oversold. The Nickel Plate merger disapproval dominates sentiment, with analysts weighing rail consolidations and future mergers as Wall Street seeks stabilization.
Bishop Penick will deliver the address at the noon-day Lenten service at St. Mary's Episcopal church tomorrow. The service begins at 12 30 and lasts 30 minutes with public invitation.
A northwest wind fueled a daylight fire that destroyed five houses occupied by Black families and damaged two others in Elizabeth City before firefighters contained the blaze. The alarm arrived as seven structures were burning.
A Tibetan expedition carrying English built electrical machinery to Lhasa, capital of the Dalai Lama, was reportedly massacred high in the Himalayas. About 300,000 dollars worth of gear vanished over a precipice, with Tibetan authorities cited as responsible. The Daily Mail notes implications for future Everest attempts and leadership by Brigadier General Charles G. Bruce.
Washington March 4 AP Secretary Mellon says the stock market break is not alarming. He calls it the natural reaction of speculation and a wholesome corrective. Slumps and booms follow each other until a normal level is reached, with no lasting disturbance to fundamentals or prosperity.
Sidney Z. Mitchell, president of the Electric Bond and Share Company, was credited by the Atlanta Journal with forecasting a regional super power system in the eastern United States. He denied charges of forming an electric monopoly, noting interconnections could link Canadian border stations to Gulf of Mexico plants, aiding cities from Pensacola to Atlanta.
Welfare workers in High Point issue an urgent call for baby clothing and gowns for a sick mother. They report a history of community support and urge residents to donate at the city hall office to provide needed items promptly.
Passaic New Jersey March 4 AP The woolen mill strike in Passaic Clifton area grows tense as police clash with about 3000 strikers using night sticks and water hoses. Reporters and photographers injured as cameras valued at 4000 are smashed amid rioting. Union organizer Albert Weisbord threatens renewed picketing with women and children present at the boundary line.
Mrs. W. O. Spencer of Winston-Salem was elected vice president general of the Daughters of the American Revolution by the North Carolina society in Raleigh Charlotte March 4. Mrs. Ralph Van Landingham of Charlotte was the defeated candidate. The nominating committee also submitted state officer nominations including Mrs. W. Murphy Snow Hill recording secretary Mrs. Hugh Murrill Charlotte librarian and Mrs. J Talbot Johnson Aberdeen registrar.
Detroit Americans pitchers endure a cold Augusta wind while batters continue limbering up. Kenneth Holloway's arrival is delayed as he seeks a contract acceptable for the coming season.
Tomlinson Chair Manufacturing of High Street begins excavation for a new two unit addition to the existing plant at an estimated total cost of 200000 dollars. Unit two expands the mechanical department and unit three provides offices and display space. Completion is targeted by July 15 with about 1200 employees expected after the expansion.
The Fifth District Federal Reserve Bank notes High Point led district cities in January 1926 building percentage gains at 270.9 percent, with Parkerburg, W V the only city higher. North Carolina cities show top gains including Wilmington 220.2 percent, Durham 142 percent, Winston Salem 124.2 percent, Asheville and Salisbury also up. Total new construction permits in Winston Salem reached 657 886 dollars, Asheville 350 375, Raleigh 261 900, Charlotte 261 925, with High Point at 219 050.
A Washington dispatch to the New York World speculates President Coolidge may have signaled the Interstate Commerce Commission's Nickle Plate merger decision. News of the decision reportedly came after a stock market decline, fueling leak theories tied to Harvard economist William Z Ripley and concerns over non voting stock in railway consolidations.
New York March 4 AP reports the National City Bank of New York and the People's Trust Co of Brooklyn will merge. The combined resources total $1,291,000,000 with deposits of $989,430,000, strengthening National City as the nation's largest bank location.
Havana March 4 AP report says an anti smuggling treaty is signed here by Gen. E. H. Crowder the American ambassador and Secretary of State Cespedes.
London March 4 Sir Austen Chamberlain the foreign secretary said Britain would not oppose a unanimous League council decision to grant a permanent seat to a nation other than Germany. He added British policy on council enlargement would aim to protect Locarno and ensure Germany can join the league when she presents herself.
Theaters present American The Midshipman with Norman Corden in a bari tone newsreel and comedy at Capitol Feature. Broadway offers The Mystic comedy. Orpheum shows miniature musical comedy. Broadhurst presents The Wedding Song and Aesop's fables.
Washington reports Rep. Hill led modificationists to form a five member temperance board to draft a bill revising the Volstead act. Hearings set for March 31 will hear from Congress and citizens before shaping the proposal for the House.
The Countess of Cathcart will surrender to immigration authorities an hour before the habeas corpus hearing. The decision followed a pact between Assistant Secretary Risley and her counsel Arthur Garfield Hays. Her ten day liberty bond expired last night and she has remained at her hotel awaiting transfer to the federal building for court. Federal Judge Bondy will hear the habeas corpus case.
Washington reports federal prohibition agents expect the Havana anti smuggling treaty signed today to boost efforts against illegal liquor imports to the South Atlantic and Gulf states. The move aims to curb cross border shipments and enforce federal prohibition laws.
The Newport News Shipbuilding and Drydock company of Newport News Virginia won the contract to build the hull of the new coast guard cutter Bear. The deal totals 585000 dollars.
Washington March 4 AP President Coolidge marks one year in the White House in his own right and his overall health remains strong. He notes two major enacted goals World Court adherence and tax cuts and hopes for more laws this session. He faced senate resistance on several nominations and continues his routine of long handshakes and short social outings.
The National Geographic Society withdrew its invitation to Roald Amundsen after his January remarks on Cook and Peary. Dr. Gilbert Grosvenor said no contract or lecture announcement existed, noting Amundsen claimed the interview was garbled and a Times telegram was not a retraction.
The Haggard Evangelistic Club will hold its regular monthly meeting at the Baptist church in Mechanicsville tonight at 7 30 o clock. All members are urged to be present.
Ben C. Sharpe prohibition administrator for the 8th federal division resumed work in Charlotte after a Washington meeting with Assistant Secretary Andrews. He declined to discuss the topics of the talks or confirm reports that extra federal agents would be hired to replace those recently dismissed by orders from Washington.
Governor McLean will attend the March 11 Post Officers conference in High Point with national commander John R. McQuigg and Virginia official James A. Leonard. Officials aim for 250 paid members and expect 300 plus attendees for the event.
Hearing before the North Carolina corporation commission considered W A Watkins request to run Pullman buses between Raleigh and Charlotte and between Raleigh and Wilmington. Opposing bus operators argued no public demand exists yet. they would start service if needed by the public.
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