The Bismarck Tribune Newspaper, February 8, 1932, Page 7

AS A THE BISMARCK TRIBUNE, MONDAY, FEBRUARY 8, 1932 Tribune’s Grain, Livestock and _ Market Report for Mon., Feb. 8 DOWNWARD DRIFT IN | VALUES CONTINUES ON STOGK EXCHANGE Several Prominent Issues Re-| gister New Low Levels For Bear Cycle New York, Feb. 8—(#)—The down- ward drift in share values was resum- ed Monday after a brief upturn in early trading. Several prominent is- sues registered new bottom levels for the bear cycle. Offerings were light, but with week- end business and trade reports unin- Rete spiring, nothing appeared to check bd decline save occasional short cov- ering. A ripple of covering passed over the market in the first hour, causing |B8l several upturns of a point or so, but thereafter, the trend generally was downward. Tobaccos, coppers, farm implements and rails were notably heavy. J. I. Case common dropped |B: 3, and the preferred about 10, to new lows. The American Tobacco and {Canadian Pac Liggett and Myers class “B” shares lost about 2 points. Santa Fe declin- ed 2, and Chesapeake and Ohio, 1, to new bottom prices. Other shares off a point or so to new lows includ- ed International Harvester, Dupont, American Smelting and Howe sound. a U. S. Steel rose 1, then slipped back. General Motors was about steady. Transfers’ aggregated 1,200,000 shares. i. ee ee Livestock d SOUTH ST. PAUL South St. Paul, Feb. 8—(7)—(U. S. D. A)—Cattle 2,400; slow, weak un- dertone; early sales steers and yearl- ings 4.00-5.25; some good heavy|Cream stzers and yearlings held above 6.50; beef cows 2.50-3.00; butcher heifers |1,, 3.00-4.25; cutters and low cutters 1.50- 2.25; medium grade bulls 2.50-3.00; bidding lower on stockers; calves 1,600; medium to choice grades most- iS ly 550-750, Hogs 17,000; fairly active, 10 to 20 lower than Friday; good to choice |i 160 to 210 Ibs. at 3.70 to 3.75; 210|Fox Film to 250 lbs. 3.40 to 3.70; 250 to 300 Ibs. 3.20 to 3.40; most 140 to 160 lbs. 3.35 to 3.75; pigs largely 3.00; pack- ing sows mainly 3.00. Average cost | Ge! Saturday 3.62; weight 216. For the week: weight 3.60; weight 210. Sheep 10,000; nothing done early; packers talking 50 to 75 or more lower than Friday; extreme top Sat- urday 6.85 paid by shipper; bulk 6.25 to 6.35. CHICAGO A.)—Hogs 67,000, including 30,000 direct; slow, 10 to 20 below Friday; 170 to 210 lbs. 3.95 to 4.05; top 4.10; 220 to 250 Ibs. 3.70 to_3.90; 260 to 3.65 to 3.90; pigs 2.88 to 3.25; pack- ing sows 3,15 to 3.25, Light lights good and choice 140 to 160 Ibs. 3.65 to 3.90; light weight 160 to 200 Ibs. | J 3.75 to 4.10; medium weights 200 to 250 Ibs. 3.65 to 4.10; heavy weight 250 to 350 Ibs. 3.45 to 3.75; packing sows medium and good 275 to 500 Ibs. 3.15 to 3.35; pigs good and choice 100 to 130 Ibs. 3.00 to 3.50. Cattle 15,000; calves 2,000; very slow; few fed steers and yearlings sold to shippers about steady; better grade HEE heifers steady; cows dull; bulls strong; vealers opened 25 to 50 lower; prospects still low- Slaughter cattle and vealers: steers good and choice 600 to 900 Ibs. 6.75] Neer to 9.75; 900 to 1100 Ibs. 6.75 to 9.75; 1100 to 1800 Ibs. 6.75 to 9.75; 1300|N; to 1500 Ibs. 6.75 to 9.75; common and medium 600 to 1300 Ibs. 3.50 to 6.75; heifers good and choice 550 to 850 Ibs. 5.00 to 6.50; common and medium 3.00 to 5.00; cows good and|NY. NI choice 3.00 to 4.00; common and medium 2.50 to 3.00; low cutter and|N' cutter 1.50 to 2.50; bulls (yearlings excluded) good and choice (beef) 3.00 to 3.75; cutter to medium 2.25 to 3,35; vealers (milk fed) good and choice 7.00 to 8.50; medium 6.00 to 7.01 Stocker and feeder cattle: steers good and choice 500 to 1050 Ibs. 4.25 to 4.50. Sheep 25,000; few sales 25 to 50|Put lower than Friday; quality consider- ed; good to choice lambs 6.25 to Re 6.50; closely sorted kinds held at 6.75 to 7.00; quality rather plain. Slaughter sheep and lambs: lambs 90 lbs. down good and choice 6.25 to 7.00; medium 5.25 to 6.25; all weights common 4.50 to 5.25; ewes 90 to 150 Ibs. medium to choice 2.25 to 4.00; all weights cull and common 1.50 to 2.75; feeding lambs 50 to 75 Ibs. good and choice 5.00 to 5.50. SIOUX CITY Sioux City, Iowa, Feb. 8—(P}—U. 5 S. Dep. Agr.)—Cattle 3,000; calves 200; beef steers and yearlings slow, early sales mostly steady; fat she stock steady to weak; bulls 25¢ down; st other classes unchanged; good medi. um weight steers held above 7.00; bulk short feds eligible 4.25-5.75; few fed heifers 5.00 down; bulk cows 2.75- 3.25; medium bulls 2.75 down; fed me- dium stockers up to 4.25. Hogs 16,000; slow; early trade large-|Texas Corp. ly for light butchers, steady to 10c lower; top 3.75 for load around 200 lb. averages; 150-200 lb. weights largely 3.50-3.65; few light lights 3.00-3.50: eee, sows steady, mainly 3.00-3.15; pigs scarce, steady. Sheep 4500; no early sales fat! Jambs held around steady; backers 25-500. lower; feeders ttle |v. talking changed: best fat lambs held around 6.50; packers talking $6.00 down for! U. best; bulk feeders salable 4.25-4.75. ing late January. Choice French combing and strictly combing terri- fine wools in original bags have | W< tory 4 moved recently at 54-55¢ basis. Demand on lower grades of both fleece and territory lines is rath- the previous week. |New York Stocks | nr Advance Rumely . gezeeeee ee J nr PEGRGESEBEEE azz rs PE. 5 2 4 A har) ge =. 4 Tr. raham Paige Mot. aed Saad loud-Hershe! Chicago, Feb. 8.—(AP—U. S. D.|/H Oil Hudson Motor Hupp. Mot. Car Indian Refin. Int. Combus. Eng. 300 Ibs. 3.55 to 3.70; 140 to 160 Ibs. } int; Kroger Grocery Liquid Carbonic May Dept. Stores Miami Copper . Mid-Cont. Pet. .. er close, Early top fed steers 8.75. |M Minneapolis, receipts Monday ; cull and common 3.50 to 6.00.}Penn. R. : Phillips Petrol. Proct. & Gamble to 5.50, Common and medium 3.25 |Bub, Sve. Corp. N. Reynolds Tob. Royal Dutch She! MORMORMOR F mo ramp persne 'S 8 3 : a: Es ‘4 g m0 = Hy moses Bert QBe: & ES : at 3 ~ g B es iS 3 3 ee = :e 3 ES f i 3k: Ey as u a g swmgergess a f 28 RE FOREIGN EXCHANGE New York, Feb. 8—(?)—Foreign er quiet. Receipts of domestic wool |change Britain at Boston during week ending Feb-}mand in ruary 6 amounted to 462,800 pounds |Great Britain 3.45; France 3.93 11/16 as compared 360,500 pounds during |Itely 6.21%; Germany 23,72; Seee ses es meme = 18.79; Sweden 19.38; Montreal BEAR REPORTS FROM |'#03=-~- GRAIN PRICES DOWN 3 World Surplus of 970,000,000 July Bushels of Wheat Sug- gested in Estimate Chicago, Feb, -8.—()—Dominated | y¥— by @ bearish construction placed upon reports suggesting world surplus of 970,000,000 bushels of March wheat, all grain prices went lower A decrease of 452,000 bushels in this! Belties— , | Week's domestic visible supply of May ....... wheat was ignored. k. {Wheat trade was selling of futures here against purchases at Winnipeg. %| Wheat closed unsettled, 1-4 to 5-8!,,007U™— Open High | Lo under Saturday’s finish, May re ‘64 7-8 to 58, July 58 3-8 to 1-2. 1-2 to 7-8 down, May 38 1. July 40 3-4. Oats 1-8 to 3-4 off, and |May provisions showing 6 to 10 cents de-|SULY, Material declines in wheat prices MaY * followed early upturns. tmection, bears laid stre: ington reports showing the United States had 304,000,000 bushels of| wheat available for export, 75,000,000 carlot grain sales: Wheat: No. 2 dark ** bushels more than a year ago. Little heed was given to estimates 2 mixed 657 that the aggregate of wheat available No. 2 mixed durum 66% -74%. for export and carry-over in the four | chief producing countries—Argentina, ed 36%. Australia, Canada and the United States—was estimated at but 970,000,-| 14 000 bushels against 961,000,000 a year! Barley No. 3 48-53. Corn and oats sagged when wheat turned weak. Provisions receded with setbacks of WHEAT RESERVE FIGURES CAUSE OF BEARISHNESS Minneapolis, Feb. -8.—()—Official figures on the U. S. wheat reserve caused bearishness and some liquida- 4|tion in the grain market Monday, so effects of good Liverpool cables were 43: Weakness in the stock market was , {discouraging and coupled with the agricultural department report on wheat stocks left little for the bulls Coarse grain futures mostly were Flax ran up 3%c on scattered buying in the face of very limited of- May wheat futures closed %c low- er, July %c lower and September %c Cash wheat receipts were moderate and demand fair for the better types of spring. Winter wheat offerings were light and demand quiet to dull. Durum was in good demand if suit- able for milling and quiet to slow Cash corn demand was quiet to , fair. “Oats demand was a shatle bet- 4 Rye demand was fair to good. Barley demand was good with offer- Flax demand was quiet to good, according to quality. Grain Quotations ‘ MINNEAPOLIS RANGE Feb. 8.—(P)— Open Hig! 68% 683 ¥ 25% 25% » 1.35% 137% 3833 39% MINNEAPOLIS CASH GRAIN Feb. 8. }. — (} — Wheat 143 com Delivered 6% 719% 89%, 72% 68% 71% 67% 10% 89) 2% 68% 71% 61% .70% Monians Winter Wheat Wi 58% 61% STi 59% Durum 88% 92%5 87% 91% t { | One feature of: Corn ‘Sept. . In this con- Sept. 85 on Wash- : .|Standards (90 score centralized March .... May ay + 89% July May Lar 5.27) 5.27 (5.25 5.27 DULUTH RANGE Duluth, Feb. 8.—(»)— w Close M4 65% 69% % 64% | 57 jguly 6 Gi Bt mie | ‘4 43% 43% coves 137 1.391% | RANGE OF CARLOT SALES {northern 71 Corn: No. 5 yellow 3114; No. 3 mix- | Oats: No. 2 white 26%-27%. Rye: No. 2 42%4-46%. Flax: No. 1 1.36, DULUTH CLOSE 79 1-2; No. 1 red durum 57 1-2. No. i rye 44 1-4, medium to good 85 to 40. MINNEAPOLIS FLOUR Pound catton sacks. Shipments 27,046. Pure bran 11.50-12.50. Standard middlings 10.50-11.50. CHICAGO CASH j2 mixed 56. yellow 36%; No. 3 white 34%-%. Oats No, 2 white 2414-25. Rye No. 2, 45-47. Barley, 52-58. Timothy seed 3.50-3.75. Clover seed 8.00-14.75. — CHICAGO Chicago, Feb. 8.—(7)—Butter was y,|Steady in tone Monday arid prices unchanged to 1c higher. Eggs were |unrevised. Poultry ruled firm. Poultry, alive; 1 car due; 13 trucks; hens, five pounds and un- der, 17; over 5 Ibs., 15 1-2; springs, 5 lbs. and under, 20; over 5 lbs., 17. Others unchanged. Roosters 10; turkeys 15 to 20; white ducks 18 to 20; colored 19 to 17; geese 13, Butter, 9,626 steady; creamery, spe- cials (93 score) 21%-22%; extras (92 Score) 21%; extra firsts (90-91 score) 1 |20%-20%2; firsts (88-89 score) 1912- 20; seconds (86-87 score) 1814 lots) 21. Eggs, 8,984 steady; extra firsts 16-16%; fresh graded firsts |15%2; current receipts 14.15. Cheese, per pound: Twins, 12c; Daisies, 12%¢c; Longhorns, 12%%c; . | Brick, 12¢; Swiss, 31-33c. 4 Lard 4. 2; loose lard 4.12; ribs | |5.75; bellies 5.75. NEW YORK New York, Feb. 8.—(?)—Butter 5,034; unsettled. Creamery higher -|than extra 22-22%; extra (92 score) -/21%; first (87 to 91 score) 20%-21%; firsts (88-91 score) unquoted; seconds ‘junquoted; packing stock, current i ]make No. 1, 16%-17; No. 2, 15% Cheese, 259,663; steady. State, whole milk flats, fresh, average to faney special 12-14%; do, held 16%- 1 Poultry, dressed, steady. Chickens frozen 20-31; fowls, fresh or frozen 13-21; old roosters, fresh 10-14; tur- keys, fresh 16-26; frozen 16-25; ducks, frozen 17%4-18%, Eggs 16,645; barely steady. Mixed colors, premium marks 21%; closely selected 21; extras or average best 19%-20%; extra firsts 18%-19; firsts 11-19; seconds 15%-16; mediums, firsts and poorer, 14%; refrigerators, close- ly selected and extra firsts unquoted; firsts 14-15; seconds 12-1312; med- iums, firsts and poorer 11-12. Jersey and other nearby whites, Premium marks 231:-24%; nearby .|and nearby westerh Hennery white, closely selected extras 2114-22%; average extras 20; extra firsts 19-19%; firsts 18-18%; nearby marked med- jums 18; marked pullets unquoted; refrigerator whites, 11-15; nearby and western hennery quality browns, fancy to extra fancy 22-23; gathered, extras or average best 20%-20%; ex- tra firsts 19-19%; firsts unquoted; Pacific Coast whites, fresh, shell treated or liners, closely selected ex- tras 22%-23; extra firsts 21-22; firsts unquoted; marked mediums 18-18%. Poultry, live steady. Roosters by express 13; turkeys by express 20 to 30. All ‘others tinquoted. Miscellaneous | CHICAGO POTATOES Chicago, Feb. 8.—(AP—U. S. D. A.)—Potatoes 155, on track 255; total U. S. shipments 855 Saturday, Synday 6; dull; trading rather slow; isconsin Round ites No. 1, Rye— No. 2...... 44% 46% 44% oa Flax— No. 1 135% 141% 1.34% 1.37% re High Low Close s {United Founders 18% Ye 2 's 96.15. | First Bank Stock 10; Northwest “Dark hard ‘winte Hard winter wheat Minneapolis, Feb. 8.—()—Range of No. 1 northetn 73; No. No. 1 hard winter 70%; Duluth, Minn., Feb. 8.—(AP)— ;Closing cash prices: Wheat, No. 1 dark northern 69 7-8 to 79 7-8; No. 2 do. 67 7-8 to 78 7-8; No. 3 do. 63 7-8 to 77 7-8; No. 1 northern 69 7-8 to 79 7-8; No. 2 do. 67 7-8 to 78 7-8; No. 1 amber durum 68 1-2 to 87 1-2; No. 2 do. 66 1-2 to 86 1-2; No. 1 durum 64 1-2 to 67 1-2; No. 2 do, 64 1-2 to 67 1-2; No. 1 mixed durum 60 1-2 to 79 1-2; No. 2 do. 59 1-2 to Flax on track 1.38; to arrive 1.38; May 1.38; July 1.36 3-4; Sept. 1.36 Oats, No. 3 white 25 7-8 to 26 7-8. Barley, choice to fancy 44 to 47; Minneapolis, Feb. 8.—(#)—Flour un- changed. In carload lots family pa- tents quoted 4.30-4.40 a barrel in 98 mostly around 80, few 85; unclass- ified few sales 72 1-2; Nebraska Triumphs 1:15 to 1.20; Idaho Rus- sets, No. 1, 1.35 to 1.45; a few fancy Beker Commercial, few sales 1.05 0 1.10, é MONEY RATES New York, Feb. 8.—(AP)—Call money steady, 2 1-2 per cent. Time loans steady, 60 days 3 1-2 to 8 3-4; |3 to 6 mos. 3 1-2 to 3 3-4 per cent. Prime commercial paper 3% to 4. CURB STOCKS New York, Feb. 8. |Cities Service . 5% Elec Bond & Share 10 Standard Oil Ind. 15 1% GOVERN: BONDS Liberty 3 1-2’s 94.11; Liberty 1st 4’s 98.11; Liberty 4th 4 1-4’s Treas. 4 1-4’s 100.30; Treas. CHICAGO STOCKS (By The Associated Press) ‘orporation Securities 7-8; Insull . Invest 2; Midwest Util. (new) 4. MINNEAPOLIS STOCKS CLOSE (By ‘The Associated Press) Banco 19 1 BISMARCK (Furnished by Russell-Miller. Co.) Date Feb. 8. No. 1 dark norther No. 1 northern... No. 1 amber duru |No. 1 mixed durui No. 1 red durum No, 1 flax No, 2 flax EVERY N. D. CHILD ASSURED EDUCATION Survey By State Department Indicates That Only Few Schools Have Closed A survey of the state department of public instruction indicates that every child in North Dakota is assured of Schooling this year, regardless of the necessity of drastic reductions of ex- penditures by many counties through- out the state. Reports from 44 of the state's 53 counties show that 22 schools were closed this year, but that the children are being transported to other schools. One county reported two schools, which closed last year, wece reopened this year. Miss Bertha R. Palmer, state su- perintendent of public instruction, said county and school officials have employed good business methods to bring about economy without denying children of an education. Forty-three graded or consolidated schools, the survey shows, reported a Chicago, Feb. 8—()—Wheat No. 2} The 44 counties reported reductions red 56%-57; No, 2 yellow hard 57; No.'in teachers’ salaries ranging from 2 to ;30 per cent, with an average reduction jof 10% per cent. Corn No. 3 mixed 3314-34%; No. 210 |? ? ej! Produce Markets ! jGecreased teaching force. While 108 jschools report shortened terms, three |counties reported that 11 schools have lengthened their terms. a ee oa aa, | Today in Congress | MONDAY Senate Continues debate on unemployment relief. Territories committee opens hear- ings on Philippine independence. Interstate Commerce Committee continues hearings on motor vehicle regulation. Judiciary committee considers nom- inations. House Continues consideration of interior department appropriations. Agriculture committee votes on farm hoard wheat relief legislation. Interstate Commerce Committee continues hearings on the railroad re- capture clause. Urging Elimination Of Manchuria from Scope of Document (Continued from page One) whereas the nine-power pact is based on the principle of avoiding foreign interference in China. The centers it would be proposed to demilitarize are Shanghai, Canton, Hankow, Tsingtao and Tientsin. All of Manchuria would be excluded from the proposal. The scheme, the spokesman said, would run counter to the spirit of the Washington naval conference of 1922, but this he attempted to justify. “The Washington treaties, signed a decade ago last Saturday, had a 10-year test and were found wanting,” he said. “The Chinese revolution had been given 20 years and has failed to pro- duce peace and stability. It is high time the powers did something. Jap- an, as a foreign power, is suffering pf RE SS | Aids Jobless | ee Henry L. Stevens, Jr., above, com- mander of the American Legion, is touring the country, taking charge of regional meetings to work out details of the Legion campaign to increase employment. most from the Chinese turmoil. It is right that she take the initiative.” Japan, he said, intended definitely and permanently to demilitarize Man- churia herself, CHINESE EXHIBIT NEW SPIRIT IN CHAPEI AREA Shanghai, Tuesday, Feb. 9—(7)— The terrific bombardment of Chapei by the Japanese and the furious reply of Chinese guns, came to a stop early today with little apparent change in the position of either side, The battle around the Chinese na- tive quarter before midnight had at- tained unparalleled proportions and the property damage within the in- ternational settlement was heavy. Chinese shells aimed at Japanese headquarters in north Czechuen road fell repeatedly within the settlement and their explosion inflicted constant damage until the engagement stopped before 1 a. m. So numerous were the shell hits around the settlement police station near the Japanese headquarters, the Police were forced to retreat into the basement and sandbag doors and windows. Fighting with a spirit they had not hitherto exhibited, the Chinese army today repulsed a Japanese attack on the forts at Woosung and renewed the bombardment of the enemy Blue- jackets holding Hongkew. ‘The Japanese already had occupied @ part of Woosung village, 16 miles down the Whangpoo from the city, but when they tried to extend their holdings the Chinese threw them back. ‘Thereupon nine Japanese destroy- ers opened up from the river and dropped shells in the village. Over in Chapei, where things were quiet in“the morning, the Chinese unlimbered their trench mortars and began shelling Hongkew. The Japanese replied with their ar- tillery and sent a detachment of Blue- Jackets into action with rifles and machine guns. The firing kept up for three hours and some of the shells fell inside the international settle- ment. ‘lhe British volunteers, strung along the settlement boundary near the Chapei north station, blocked a Japanese flank attack. The Japanese moved along Ranger Read, trying to get around a British “piilbox.” If they had succeeded they could have gone along the Elgin road and fallen upon the Chinese rear. It left the British in a delicate posi- tion, facing the Japanese in one di- rection and the Chinese in the other. Burleigh Taxpayers Organize Saturday (Continued from page One) 1, The object of the association is to keep watchful eye upon the expen- diture of public moneys, the levy and assessments of taxes; the necessity for public expenditures and taxes; to obtain and disseminate information regarding such matters; to make rec- ommendations relative thereto to public officers and other interested organizations and to take whatever action seems necessary or advisable in “promoting and securing economy and efficiency in the administration of public affairs within Burleigh county.” 2. All taxpayers of the county are eligible and there shall be two kinds of memberships. These are the regu- lar memberships at $1 and sustaining memberships for $5. The board of trustees is empowered to reduce or waive membership fees in any one year. 3. Annual meetings were fixed for the third Saturday in October. At these meetings will be elected an ad- visory council, to be composed of as many members as there are voting Precincts in the county, the aim be- [A Capital Sight! l | ACapital Sight! ing to have one from each precinct. The board of directors shall be named at such annual meetings. Must Furnish Bond 4. The board of trustees shall con- stitute the executive committee of the association and shall elect from their members a president, vice president and secretary and treasurer. The latter officer need not be a member of the board or of the advisory coun- cil but shall be a member of the as- sociation. He shall give such bond as the trustees may direct. 5. The advisory council shall meet {just before the annual meeting and Four hundred and 99 other fair con- testants lost when Mabel Lee Akers, above, 20-year-old brunette, was chosen the preitlent girl in Wash- i » D.C. in a recent contest. a pianist and singer, too. may be called into special session on *| CLASSIFIED AD RATES All want ads are cash in advance. minimum charge 75 cents. Copy must be received at The Tribune of- fice by 9:00 a. m. to insure insertion same day in the regular clasgifiec page. Cuts, border or white space used on want ads come under the classified display rates at 90 cents per column inch per insertion. 2 é 8 e & a 8 3 é3 : The Tribune reserves the right to reject any copy submitted, also to re- vise any copy to conform with make- The Tribune Want Ad Department Salesmen Wanted BONDED SALESMAN WANTED— Work for lively, neat appearing ex- perienced salesman with lots of pep. One not afraid to work. Wonderful opportunity for right party with chance for advancement. i ‘725. __Help Wanted AMBITIOUS, reliable man wanted immediately handle Watkins Pro- ducts in Bismarck. Customers es- tablished. Excellent opportunity, steady employment, rapid advance- ment for right man. Write today, J. R. Watkins Company, D-41, Winona, Minnesota. vided that they do not exceed the anticipated revenue for the current year. 10. The association shall be non- Political and any officer who becomes a candidate for any public office, other than a school, township or vil- lage office shall automatically cease to be an officer of the association. 11. The trustees are authorized to appoint such additional committees as they see fit from among the mem- bers of the association or otherwise, and to define their powers and du- ties. 12. All books and records shall be kept’ under the supervision of the secretary-treasurer, who must make reports to the annual meetings and at such other times as the board may direct. 13. The by-laws may be altered or amended or new ones added at any annual or special meeting of the members, provided a majority of those present vote for it. Coxey in Bismarck With Plan to Aid Business of World (Continued from page one) He would pay the war debts in much the same way. Germany ‘would start its printing presses and run off enough to pay France, Eng- land and other countries to which it owes war reparations. These would then use it to pay their debts to the United States and the United States would use it to pay for merchandise purchased in France, Germany and elsewhere. Since it would be legal tender, he said, they could not refuse to receive it for customs duties or in business transactions. His suggestion for community banks is even more interesting. It would be for the community to or- ganize its own bank and determine how much money was needed to operate the community. The bank then would issue bonds for that amount and give them to the gov- ‘ernment, which immediately. would issue paper money for them on the same basis as for other bonds. To settle the prohibition question he would make an initiative and referendum amendment to the con- stitution which would require that, upon petition of a million votes, any proposed amendment or statutory {law would be presented for vote of the people within 60 days. This, he said, would permit the people to de- cide if they want prohibition or not. DETROIT BANKER’S RISE ENDS IN JAIL Convicted of Embezzlement, He Gets Prison Term. Detroit—The star of destiny, which skyrocketed Robert Moffat Allan, youthful banker, to the peak of Detroit finances a year ago, has fallen, leaving a trail of blasted am- bitions, Allan, who at thirty-three years of age, became president of the American State bank, the city’s largest independent bank, has been convicted of embezzlement. The conviction carries a sentence of from one to twenty years in Michi- Gan State penitentiary, The youthful banker's career war meteoric, He started as a messen- ger boy, and rose rapidly through the ranks to a directorship, Three years ago, in January, 1929, his fel- low directors elected him president. Under his control, the bank grew commission. Write Tribune Ad No. | mode: 702 7th St. Phone 1742-t7_ FOR RENT—An all modern 3 large room apartment on ground floor with 2 private entrances. For in- formation call at 602/3rd St, Phone | 1352. FOR RENT—One large unfurnish- ed light housekeeping room with stove. Write Tribune Ad. No. 738, FOR RENT—Furnished apartment including lights, water, heat. Also laundry with electric washer, Call at 930 Fourth street. ss i FOR RENT—New two-room house. tional Furnished. 307 South Ninth. $20 per month. Call in person at 81115 Second street or at above address. Mr. Sheldon. FOR RENT—Two-room large, very home. Electric stove for cooking. Heat, lights and water furnished., $20.00 @ month. 213 Eleventh St. North, one-half block from Broad- RENT—Two-room furnished apartment and one fiveeroom house. Very close in. Reasonable rent. Call at 323 Second street. _Phone 360-M. FOR RENT—One or two-room fur- nished apartment. Cheap. Call at 409 First street. APARTMENT FOR RENT—Furnish- ed or unfurished. One large room with kitchenette, Murphy bed, pri- vate Frigidaire. Overstuffed living’ room suite. $32.00. Also garage for rent, $3.00. Everts Apts. 314 3rd. Phone 511. ; FOR RENT Strictly modern fur- nished and unfurnished apts. Rose Apartments. 215 3rd St. F. W. Murphy. Phone 852. FOR RENT—Three room furnished apartment with bath, city heat, gas range. Phone 1063. FOR RENT—Apartment in Person Court. Phone 796. FOR RENT—Well furnished two room apartment. Water, electricity, gas, telephone and frigidaire furnished, Also single room with kitchenette, Garage with either or both apart- ments, Hazelhurst, 411 Sth 8t. Phone 273. FOR RENT—Apartment over New Sweet Shop. Suitable for business or home. Inquire David George at the Sweet Shop. FOR RENT-—Strictly_ modern fur= nished apartment. One room and kitchenette. Laundry privileges. Close in. Adults only. Phone 512-W. Dr. Enge. FOR RENT—Furnishee or unfurnish- ed apartment. Varney Apartments, Phone 773. FOR RENT—All modern furnished and unfurnished apartments in the Rue Apartments with electric stove and Frigidaire. Inquire 711 Ave. A. Phone 1256-W. Rue Apartments, Houses and Flats FOR RENT—Strictly modern 6 room bungalow. Sun parlor, breakfast nook, attached garage. Close in. Phone 751 or 151. FOR RENT—Five room modern house and sun parlor. Newly decorated. Good location. Immediate posses- sion. Inquire phone 981-R. Mrs. Lidberg. FOR RENT-—Furnished 6 room house. Adults only. Mrs. M. L. Shuman, 414 3rd. Phone 455. FOR RENT—Modern 8 room house in first class condition on Avenue B, east. Has an upstairs apartment which can be rented. For informa- tion phone 443 or 1063. FOR RENT—House on South Fifth Street. Call Gussners, pienso RENT—Five room hc modern. Down Gee Sidney Smith. Phone 851-W. ee OS ee FOR RENT—A modern 9 room house next to the Bank of North Phone 206 or call at 217 5th 8t. ____ Rooms for Ren! ROOM FOR RENT — room. Always hot water. Also sewing done at 422 4th St. Phone 1052-R. FOR RENT—Nice warm room, 1 1-2 blocks from postoffice. Beautyrest mattress. Board if desired. 115 ‘Thayer. FOR RENT—Cozy room in quiet home for business woman. Gas heat. Always hot water. Board if een: Call at 406 5th St. Phone ———— For Sale FOR SALE—Five room, 2 story dwell- ing. Three bedrooms. For imme- diate sale and possession. In east Part of city. Ata bargain. Geo. M. Register. FOR SALE—Bronze turkey toms weighing from 22 to 24 lbs. These are well marked birds. Nagel and Strutz, Bismarck, N. Dak. CHOICE CANARY singers: Import- ed Rollers, Harts Mountain and Choppers, native singers. Cages, seeds. Jacob Bull, phone 115-J, Dickinson, N. Dak. SSS Personal WANTED—A loan of $900 at reason- able rate of interest. Can offer best of security. informa- to embrace 30 branch offices in the Greater Detroit area. It was known a8 a one-man institution, with the youthful “Wizard of Finance” the guiding genius. Robert Moffatt Al- lan became a name feared and re- epected in Detroit finance. Allan's star ascended with the “boom” period of 1929 and early 1930, His bank engaged in the pyramiding game of high finance, re- fusing to be swallowed up by other and larger institutions. Allan him- self bought stock in banks, the state charged. Then the crash. Stocks tumbling; disquieting withdrawal nual state banking examination, and the revelation all was not right with the Allan institution; indict- ment, arrest, trial, and lastly con- viction. During Ns ascent to power in the financial world, Allan rose to & position of equal importance go- cially. He joined and later became president of a golf club. He pur- chased a palatial suburban home, *and entertained lavishly. He be- > longed to a yactit, university, and athletic club, as well a8 two lodges. » His friends included all of Detroit's socially prominent, s