Evening Star Newspaper, February 20, 1921, Page 24

t v rwees . THE. SUNDAY STAR, WASHINGTON, D. C, FEBRUARY 20, 1921—PART T. S o FINANCTIAT. ¥ MUSICAL MENTION [ = ===l %25 & 5xROAD TO RECOVERY IS NOT | RANGE OF MARKET AVERAGES both public and priyate entertain- ments of the week in honor of Wash- Ington’s birthday anniversary, ahong “the ‘more important being the annual celebration at the Qovernment Print- ing Office tomorrow at noon, at which Public Printer Fore will preside and Representative W. D. Upshur of Gacsgia will maky .an address. Tke music, urider direction of Benjamin ¥. Lineback, will be rendered by the Government Printing Office chorus o® thirty voices, with Richard P. Back- jng. tenor, and Alfredo Guaragna, saxophonist, supplying Solo numbers. The chorus, with Miss Margaret as accompanist, will render utiful,” “Red, White ar Spangled Banner,” k to Old Virginia” and 2. )iss Gertrude McRae will accompany Mr. Backing at the piano. The twenty-fourth concert by stu- dents of the Washington College of Music will take place tomorrow even- ing in Central High School audi- torium. Several attractive numbers will be rendered by the college or- chestra, directed by C. E. Christiani, among them the overture to Mozart' “Don Juan,” “Evening Sounds.” by Kriene; Strauss’ “Blue Danube” an a composition by Robert Cary Stearns, entitled “Contemplation,” for strings alone. Solos will be given by Mrs. Gertrude Reuter Miller, Margaret ,Christadoro, _Tillie Kravitz, Clara 'Young. Mitchell Bliss, Lois Stuntz, Arsenio Ralon, Sara Becker, Raymond | Expert packing et our_estimate and save money. Franklin 2¢ W B, MOSES & SONS, 11th AND F N.W.— Modern fireproof storage. MODERN FIREPROOF STORAGR LARGEST VANS ON THE ROAD — SAVE MONEY, TIME. WORRY IN LOCAL AND LONG-DISTANCE MOVINF;. CRATING, PACKING. SHIPPING: Your furniture insured for $2.000 while i* anr 3500 small WINTER BUILDING STOR 80,000 sq. ft. 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Katharine Floeckher, Mary Isabel Kelly and Harry Howard gave a most enjoyable program last week before the Friday Morning Music Club, among the numbers being Mozart's “Sonata, No. =3tti); encore, “The Nightingale Has a Lyre of Gold” (Whelpley), Mrs. Reed; iano solos. “Gavotte” (Giuck-Brahms), “Etude in F Sharp' | (Hewitt); encore, “Kitty of Coleraine,” Mrs. Gawler; duet. “Quis. Est Homo," from “Stabat Mater” (Rossini), Mrs. Gawler and Mrs. Reed, with Mr. How- ard at the piano. i } Next Wednesday a recital in |Lenten series of the Church of the | Epiphany will be given by G. Thomp- on Williams, organist of the Church of St. Michael and All Angels, Balti more, Md. Mr. Williams wiil pla | “Toccata and Fugue in D Minor | (Bach), “In Paradisum” (Dubois), | “Scherzo in D" (Capocci), [torale” (Guilmant), ~ “Abenddied (Schumann), “Allegretto in D Flat” ! (Lemmens), “Cantabile” (Tschaikow- sky) and “Toccata” (Crawford). The recitals for the remaining Wedn lday afternoons during Lent. com- mencing at 4:45 o'clock. will be given by Louis A. Potter, jr. organist of Calvary Baptist Church; Edgar i Priest, srganist of the Washington Cathedral, and Levwls A'water, or- awniet of All Sovis’ Unitarian Church aqd o the Kighth Strest Temple. Adiph Torowsky, organist and }foir director of the Church of the olis, where he was heard in concert at the Circle Playhouse, on State Cir- cle, giving the following piano num- bers before an audience that demon strated its approval of h “Rondo Capriccioso” (Mendelssoh (Sgambati), Rubinstein’s t of Beetho: “Prelude, C Sharp Minor’ (Rachmaninoff), “To the Spring” (Grie pring. Breezes” (George | Boyle), “Impromptu,” “Ballade, A Flat” and “Fantasia, C Sharp Minor” Easiest method Steel Guitar Ukulele Instructors from Honolulu Monmouth Hotel Fr. 5630 HAWAIIAN MUSIC STUDIO PIANO SCHOLARS —Lessons at_pupil beginners preferred. Address Box 56-P, offce. PROMI. 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Studio, T8 R. I Ave. N.W. Phose North 2711. 'llu{b. DANIEL B e ! Mr. Wm. Shakespeare { The eminent vocal i London, England. Studio Apt. 32 [1632 S St. N.W. Phone North 8361. | Interview by appointment oni teacher of & TOURS. Suommer 1921 . An exceptional opportumity to make an ex- tensive tour under an expert and interesting director, with splendid accommodations. at an extremely moderate cost. Sailing June 23 the magnificent White Star Liger *‘Olympic" it British Steamer) and returning via line about Sept. 10th. Price, includ- o i2g all expenses, $340. The Beaux-Arts Tours 2308 G St. N. — = STEAMSHIPS. WALTER T. HOLT Established 1804, Fraokiis 211! Schoot of Mahdotia, Gonta: and b 3 ., Guitas Hawiian Steel Guitar Playi rl:l l:.,lhhm Wosbly ‘practice with the Nordies Cian. VIOLIN LESSO! ALICE MORGAN, graduate Tthaca, N. Y. e ks o0 peivats Raif hoes jonciar fodt iin or private Balf. | semiweekly, at $1.50 per bour; downtan 8. M. FABIAN, piano pupil of Lisat Balow, Moszkowsk!. _ Studio, 522 13th s | Teiephione_Frankiin 5110. OTTO T. SIMON, volce culture. pupil of Behoke of London: collaborated with Aircheat ¢ Paris aad Itallan masters of Milay. Voa a.w. (Arensky), *‘Spring the Epiptany, has returned from Annap-| The Playhouse was filled with an enthusiastic gathering of music lov- ers Friday afternoon to hear the recital by Elsa Louise Raner, one of the most talented ‘of Washington's younger musicians, Miss Raney played, with beautiful tone and much feeling, Tartini's “Sonata in G Minor,” the first movement of Vieuxtemps' ~Fantasia Appasionata,” “Air for the G String” (Bach), “La Chasse” (Cartier-Kreis- ler). ‘Andante” from “Symphonie Espangol” (Lalo), “Passepied” (Mosz- 9" for violin and piano; “Vogel's|kowski), “Meditation” = (C t Brophet” (Schumann-Auer), Mrs. Dickes | “Phe Bee” (Sehaborty MDer Nasmmint and Miss Kelly; contralto solos, “O Mio | (Schuman-Auer), and eibesfreud” Fernabdo,” from “La Favorita” (Doni- | (Kreisler), Adele Robinson Bush as- sisted at the piano. Mrs. Frederic E. Farrington and Miss Edith Goode and Mrs. Imboden added to the pleasure of the occasion by their presentation Breeze” (Boyle). “Staccato Etude” e | (Rubinstein): encore, “Romance in F | oo 0" o, RI4YS; “Mannikin and Minni- Sharp” (Schumann), Miss Floeckher: | 794 Kremborg. —cor o Poth by Al- soprano solos, “Is It Rainy, Little ! 8= Flower? p (Wiliam Blair), “Bessie| Martin Richardson, tenor, will be ook from manuscripy by BdEal| Washington's birthday musicale at ara Lee Phillips. the home of Mrs. Miss Beatrice Goodwin, soprano, and George Harold Miller, baritone, will present ~the song cycle,” “Jhelum River, _by Amy Woodford Finden. next Friday moxning at the Cosmos Club. before the Friday morning Music Club. Miss Mabel Linton will be at the piano. The Department of Labor musical group, consisting of Misses Janet Lambdin, Barbara Cronin, Prudentia Woodward, Florence Hanford and Messrs. J. H. Sheppard, Robert C. tarr, Arch D. Monteath and Charles A. Bell, contributed to the entertain- ment of a large gathering Monday e C. nging Little Mother of Mine” (Nevin), ‘Good Night, Beloved” (Pinsuti), en- core; medle “From the South” { (Harry Hale Pike). Martin Q. Dowd, planist, played “Kammenoi-Ostrow” (Rubinstein) and “iommmes” (Sibeli- us). Charles S. Wengar?, bariteme, sang the “Toreadors Sonz” f™mm “Carmen” and “Little Irish Girl” Lohr. A patriotic service will be held this evening at the First Baptist Church, when the solo quartet and chorus choir will be assisted by Mabel Dun- can, violoncellist, who will play “Prize Song” from ‘The Master Sing. ers” (Wagner) and “Melody” (Gems- heim). The other numbers will in- clude ‘the processional; “Ye Sons of | Freedom™ (De Lisle). by the chorus, ith cello and _organ; anthems, “Praise Ye King of Nations (Gounod), “America the Beautiful (William Arnes Fischer), “To Thee, O Country” (Eichberg): soprano solo, “Recessional’” (De Koven), Mrs. Flor- | ence Howard. At the Church of the Covenant this afternoon at 3:30 o'clock the musical program will be rendered by the double quartet. In the evening at 8 o'clock the choir will give the pro- gram. Both rvices are under the direction of Sydney Lloyd Wright- son, with Harvey Murray at the or- gan, and in the evening with Claude Robeson at the piano. A special fea- ture of the evening service will be the singing of “Flanders Requiem” (Frank lLa Forge) by Herman Fak- ler, baritone. The programs follow: Afternoon—Organ prelude, “Verset de Procession” (Rousseau), anthem, |“I Will Sing of Thy Power” (Sulli- van), incidental solo, Mr. Backing; tenor Bolo, “If With All Your Hearts,” from “Elijah” (Mendelssohn), Mr. Backing: anthem, “The Lord is My Rock™ (Woodman); offertory anthem, t Thy Footstool” (Broome), and ‘Organ Postlude, in ¥ (Pollerity { Evening—Organ prelude, “M®che | { Religieuse” - (Claussmann): anthem, “Beautiful Isle” (Fearts). Miss Eolln and the choir; baritone solo, “Flan- ders Requiem” (La Forge), Mr. Fak- ler; anthem, “God Shall Wipe Away All' Tears” (Fleld); offertory anthem, “At Rest” (Wesley), ~and ‘“Organ Postlude, -in G* (Merkel). i Dr. Tom Williams gave 2 short talk last Sunday evening at the semi- monthly musical tea at the King- Smith studios on “The Effect of the Emotions on Mental Fitness" The musical portion of the evening's en- tertainment included: “How Sleep the | Brave” (Wild), “There is a Garden (Proctor). “Boat Song” (Ware), Miss Anna Breitenstein; ‘aro Mio Ben” | (Giordani). “Would God 1 Were the| | Tender Apple Blossom, (0ld Irish), Mr. Preston Haynes; “Winds in the South™ (Scott), “Si Mes Vers Avalent Des Ailes” (Hahn), “I Love You 80" (Mana Zucca), Miss Josephine Houston; “To Spring” (Grieg), “Etude in A Flat” (Chopin), “Reflets Dans I'Eau” (De- Bussy), Mr. King-Smith; “L'’Amour, Viens Aider,” from “Samson and Delilah” (Saint-Saens), Miss Bess Cline; “Flower Duet,” from “Lakme” I (Delibes), Miss Houston and Miss { Cline. H i | August King-Smith will have charge { | of the music this evening in the Red i Cross house at Walter Reed Hos- | pital, when the George Washington | Glee Club, under his direction, and a chorus of girls from the King-Smith { studios will give the program, among those participating being Anna Breit- | i ‘Washington. | tenor. | soloist at the recent meeting of the sary, (Nevin), Miss Finckel, Mr. Flemmer, Bazarova. Franceska Kaspar Lawson is ex- pected to return Tuesday from a fort- night’s trip through Pennsylvania and Ohio, durlni ‘which she has met with more than her usual success in nine concerts, several of them being re- engagements from last season. Miss Viola Schippert, soprano, was the assisting soloist Tuesday evening at Central High School, when Edith B. Athey, organist, was heard in the semi-mofthly recital given under the auspices of the general civic center of the public schools. Miss Schippert was supported at the piano by Mrs. Howard Blandy, accompanist of the Rubinstein Club, in two groups of songs, among them ‘Snowflakes (Cowen), “The Valley of Laughter” (Sanderson), . “The Fairy Pipers” (Brewer), “The Blackbird's Song" (Cyril Scott), “The Lass With a_Deli- cate Air (Dr. Arne) and “Stolen Fruit” (Godfrey Nutting) and Miss Athey's contribution to the program, made up of works of English com- posers. which included “Concert Overture in E Major” (William Faulkes), “Fantasia (Best), “Can- tabile” (Wessley), “Spring Song" (Hollins), “Torch Dance” (German), “The Bee,” “The Cuckoo” and “Even- ing"” from sSummer Scenes” (Edwin Lemare), “#he Lost Chord” (Sullivan), “Gavotte,” “Salut d’Amour’ and “Pomp and Circumstance” (Sir Ed- ward Elgar). The next recital will be given by Miss Athey the evening of March 1 and a quartet, composed of Mrs. B. H. Smart, soprano; Miss Marian Larner. contralto; Herbert F. Aldridge, tenor, and Elijah Kinsella, bass, with Mrs. Aldridge accompanying, will assist in giving the program which will con- sist of the compositions of Americans. Charlotte Klein was the soloist Wednesday afternoon at the Church of the Epiphany, at the first of a series of Lenten organ recitals to be given there, playing with fine effect the following r-umhexs: “Prelude in JI Muner” (I. S. Bach), “Sunset” (E. H. Lemate), “Fifth Symphony” (Widor), “The Curfew” (Horsman), “Scherzo” (A. Hollins). “The Swan” (C. A. Stebbins) and Caprice Heroique” (J. Bonnet.) The second Lenten organ recital will be given by G. Thompson Wil- liams, organist of St. Michael and All Angels’, Baltimore, Md., Wednesday, February 23, at 5 p.m. Charles Trowbridge Tittmann_has been re-engaged for the New York Oratorio Society festival at the Man- hattan Opera Hguse, New York, on March 29. This Wwill make his fourth annual engagement with the society and the third in the Bach St. Matthew Passion. Walter Damrosch will con- duct. Sydney Llovd Wrightson, baritone: Richard Lorleberg, violoncellist, and Jewell Downs, planist, will be the assisting soloists at this afternoon’s vesper service at the Mount Pleasant Congregational Church. The pro- gram, under direction of Claude Robeson. organist, will include bari tone solos, “O God, Have Merc: from the oratorio, “St. Paul” (Mer- delssohn); “God's Love for His Chil- dren” (Holman), with 'cello obbligato; “It Is Enough,” from “Elijah” (Men- delssohn). and All in an April Even- { BOULEVARDED ENTIRE DISTANCE Many Great Corporations Need Financial Assistance—Some Comment on Hcyday of Prosperity—Bond Market’s Need. BY L A. FLEMING. | Every one is hopeful for the best, but in business, at least, the road is by no means boulevardéd for the en- tire journey to prosperity. There are numerous rough spots and where decided improvement is noticed in one direction an adverse happening {is reported elsewhere. So many great corporations require financial treatment, expensive and not wholesome to the shareholders, that one may well wonder what has be- come of the enormous profits that piled on top of each other in the hal- cyon days of high profits, high wages and high cost of living. 1t has appeared to many during the past week as if all this great war prosperity, all the -big profits and the taxes that they resulted in, were more . or less the result of fooling ourselves. | Every one knew that our allies were! large borrowers from the one great lender, but the fact has been brought home With nude plainness during the week just past, through twe airing in Congress of our financial relations with important and non-important, more or less, participants in the world war. It has begun to dawn on the Ameri- can people that we, as a nation, used our entire energy for several years in production, and bought the product of our energy with the money we paid into the government either in sub- scriptions to liberty bonds or in nor- mal and excess profits taxes, glving our production to other nations. To date $9,580.823,677 has been ad- vanced to foreign governments. Nor does this great total, almost beyond realization, include the immense senount of money lent and credits extended through other than govern- ment channels. This is estimated at $4,000,000,000, which, with the $700,000,- 000 interest owed by foreign nations on their direct debt, actually makes a staggering obligation. And manufac- turers and merchants put up prices and the American people settled the bill. Scores of corporations, managed by optimists, seemed to consider that it was to be a case of never-to-be- forgotten prosperity, lasting and therefore warranting the issuance of millions of new stock, given away as stock dividends, upon which they hoped to pay the same dividends they had previously been distributing. A decision of the United States Supreme Court paved the way for these stock dividends, and very many of the cor- porations that made these enormous presents to their shareholders are to- day seeking assistance trom sellers of credit, expensive and impera- ative, while passing dividends well. And then the Federal Reserve ing” (Dyack): 'cello solos, “Album- leaf” (Henriques); *“Evening Song” (Schumann), trio for piano. organ and ‘cello; “Air” (Victor Herbert), and offertory, quartet, “Awake Up My Glory” (Rogers). The Mount Pleasant Chorus will sing at the morning services. Mrs. Joaquin De Sigueria Coutinho, gold medalist in music from the Conservatory of Music, Lisbon. and formerly chamber pianist to Queen Pia of Portugal, gave a recital at the home of Mrs. Fred W. Pearce, Takoma Park. last Tuesday evening. She was assisted -by vocalists from For the Thursday evening services during Lent at Christ Lutheran Church special musical programs have been arranged. The choir will be assisted by the following soloists: February 24. J. F. M. Bowie, tenor March Miss Mary Beisser, con tralto; March 10, Miss Blanche Bolln, soprano, ahd March T. J. Quinn, Miss Grace Neidig is the or- ganist. f Arthur Chester Gorbach, bass, will | be the assisting soloist next Saturday | afternoon at old St. John's Fpiscopal Church at the Lenten recital by James Dickinson, organist and choirmaster of the church. The program will in- | clude the organ solos, “Marcia Fts-‘ tive” (d’Acosta). “Il Natale a Settino | Vittone” (Pietro Yon). “Rhapsody” (Silver). “Ave Maris Stella” (Jean Titelouze). “In Venice” (Gally Sellers) and “Laudate Domjnum” (Charles A.! She!sdon). % Marv Helen Howk. soprano. was the St. Amnes €lub program of sons raniad st the piano by Ma Garziglia. whore she gave a arfas. aceom- » Howe | — i Charles T. Titima ' A1l Soflls’ Unitarian Church. will sing this evening_at Tngram Congrega- enstein, Miss Josephine Houston, Miss Bess Cline and Preston Haynes. Mr. King-Smith will also contribute one | piano solo. z ! ’ This evening at Trinity Episcopal Church, Stainer's “Crucifixion” will be sung by four quartets. * The following musical program has | ! been arranged for tonight at Trinity Episcopal Church, which service will be under the auspices of Harmony Masonic _ Todze, being its annual { George Washington birthday service, An organ recital will be given from 20 to & by Mrs. Helen Calhoun ! ouch. The service will be opened | { with a processioral hymn by the dou- | | Ble quartet of Trinity Church, fol-} Outing Trip by Water to ‘Tidewater Virginia OLD POINT, NORFOLK, VIRGINIA BEACH, OCEAN VIEW. ALL-YEAR RESORTS y service. Modern steamers, City Ticket Office, 731 13th St. N.W. NORFOLK & WASHINGTON STEAMBOAT (0. To LAN voyage thru tropical, romantic seas. steamers of the U. S. Shipping * PHILADELPHIA ' CHICACO ST, dravel in WINTER MIUNSORN '/ STEAMSHIP LINES ‘OWHERE in t%c world is Winter so gloriously Summer as on the . Last Coast of South America—Rio—Montevideo—Buenos Aires. The colorful, gay life of these Spanish-American capitals, in their verdant settings, is in full swing sew. The trip itself is a fascinating particulars of any Travel Agency or at the offices of the MUNSON STEAMSHIP LINES 82-92 Beaver Street, New York Studio-ball, 1517 H st. n.w. Telepbone h7. Puplis’ reciais and coneects . 4 NCES Ded 2 permanent studl Washington at > 1407 * Mueachusetts sveans Dorthwest (overicoking Thomas Cirele), where be ta prepured to tench a limited suinber of pils in plano a cory.” Personal instruc- Dioa. ‘Seud” for booklet and rates. T Telephone : Franklin 3235, Residence Clacotand 11 DS of SUMMER Every comfort is provided. Fine Board. Frequent railings. Full Louis BALTIMORE MOBILE {1owed by so'os by Mr. Fred East, bari- tone, and Mr. Lewis Brown, tenor.{ There will be two selections by the | Masonic Band during the service. The ! offertory anthem will be “Praise the | Lord” (Randegger); by the double quertet. The music at the morning service will consist of “Te Deum’ (Stephens), and the offertory 111 be hese are Thev.” from Gaul's “Holy | { City.” by Miss Bernice Calhoun. The | | 010 quartet consists of Miss Bernice i Calhoun, soprano; Mirs Nancy Still- { well contralto; A. J. Bell, tenor, and { G. H. Lambert, baritone. ! H 2 i ! The fourth students’ recital of the as- ! sociated studios of S. M. Fablan and - Otto T. Simon took place Friday even- ast_at the Studio Hall of Mr. Si- rumbers presented “The Lark " (Glinka-Balakirew) ; rabesque” (LeschetiszKy), Miss | Jeanette Howard octurne, G Ma- | i jor” and “Valse and C Sharp Minor Miss Cora Gatineau: “Lie- | hestraum® (Liszt). “Minuet” (Mozart) Miss Maisie Nothnagel, The voca rumbers rendered were three songs of Massenet, “Elegie.”, “Good Night"! “Open Thy Blue . Miss Anna Pat- terson: “The Snirit Flower” (Camp- bell-Tipton); “The Blackbird” (Cyril| {Scott), Miss Mary L. Meyer. Dewdrop” (Lehman): “Love Like the Dawn - Came Stealing” “Sheep and Lambs” (Homer), Miss Mildred Hoge: aphic Ode” (Brahms), In Summer Fields” (Brahms) of India” (Rimsky-Korsakow Hazel Hughes. accompaniments. The fourth in the series of organ recitals of the 19 -I!)Z} season, under the auspices of the Disfrict of Colum. Lia Chanter of the American Guild of Organists._will be given tomorrow evening by Louis A. Potter, jr.. and Walter Nash, at Mount Vernon Place M. E. Church South. Habitues of the Y. M. C. A. were entertained Wednesday evening by a recital having one unusual feature in the singin~ of Bazarova announced on the program as a male contralto, who was heard with Constance Finc- kel, pianjst; George E. Flemer, violin- ist, and Holland, accompanist, in the following numbers fon Coeur S'Ourre a ta Voix' “Habanera” (Bizet). (Balakirev), Miss Finckel Butterfly -Seiler), “Chanson Indou” (Rimsky-Korsakofr), ceuse” (Grieg), Mr. Flemmer; * Bye!" (Tost!), “Glanna Mia"” (Friml), Bazarova; “Rhapsodie No. 11" (Liszt) Miss Finckel; “Indian Lament’ (Kreisler), “Ave Maria" (Schubert), Chopin). { !stork, with all common to ordinary “The |Beef cattle—First quality, ner 1 jto 8; medium, per 1b, (Cadman). [as to auality, per 1h,’4 to & jto quality, per Ib.. 3 to 6. Song iper 1b., 4 to Miss | fancy, head, £0.00 £0.00; B Mr. Simon played the mon- o fair p 000t Foor Calves, veal, choice, per 1b., 13 to 13% commo 2 to 3. to good, per Ib., § to per 1h.. 5 to 6. Sows, Stags and boars, per lb.. 6 to 7. 12 to 15, Common to Mr. Flemmer; “I-Hear You caulnglmm 8.25, tional Chureh, and at. this: morning's service the choir will be asisted by Mr. and Mrs. B. Hackenberger. who will be heard in a saxophone duet. Earl Carbauh, ba: soloist of the Central Presbyterian Church. will be the soloist Saturday evening at Rauscher’s. sing “The Pauper's Drive” (Homer). “Duna” (McGill). and “I'ncle Rome" (Homer). with Mrs. Carbauh accom- panying at_the plano. Flizabeth Wineton =stnrned dyrine the week from New Vork. where she won enthuciastic apnlauss fo- her arntictic poeformance at a recital at Aeolian Hall Martin Ric¢hardson Wil hat the eolnist at this musfen 2t the Arts Club, with P2+l Whitney Fichbangh at the plano, He will sing (Curran). “Duna” (MeGill), V Canl T8 the Vallev Now" (Koem ™enjehy, Page's Ro~d i (Novel'n) - St arin fro Manon H Vision” (Magsenat): “Si Mos Vers! Avaient Des Aajles” (Hahn). “Re ceuse” (Godard), “Mamma, Mia Che{ Vo' Sane?’ Neanolitan (Nutile): “O | Rimba. Bimbetta" (Sibella); Cavatina from “Faust.” “Salve Dimora" and three sones from of Life” (Ronald): “Prelud the Forest” and “Love, o Down 1 Have LIVE STOCK MARKETS. -RALTIMORE, Md. February 19 (Srecial) —The general live dattle! market if easy, with amnle receints. at the stock vards. Wharf receiptsi lizht, but demand only for top-zrade | attle of uncertain value. Prices today at Light street wharf: 5 to 6%%. Bulls, Cows, as Thin steers, Oxen, as to quality, Milk cows. choice to per b, 3 to o fair, per head, 30.00 to 50.00. ordinar heavy, a to medium, per 1h.. 10 to 12; smooth. fat. per head, 20.00 to 00; rough. par head. 15.00 to 18.00; thin, ‘per head, 8.00 to 10.00. | Sheop—No. 1. per 1b. 5 to 6. Old! bucks, per Ib, 4 to 5; common, per Ib.. Lambs, choice. per Ib., 10; fair commion, 'thin, Hogs—Straight. per 1b., 10 to 121, as to quality, per Ib., 8 to 9. Live DigS, as to size and quality, per Ib., Shoats, as to size and qual- ity, per Ib,, 10 to 13. NEW YORK, February 19.—Cattle— Receipta, head. No trading. Calves—Receipts, 230 head; steady. prime’ veals, 10.00a16.50; 8.0089.00; little calves, 6.00a. culls, 7.00. Sheep and lambs—Receipts, 2,100 head; firm. Common to.good sheep (ewes), 3.00a5.0 cuils, 2.00a250; yearlings. 00a7.00 lambs, 7.50a 10.00; clls, 6.00a7.00. Hogs—Receipts, 3,440 head; weak. Light to medium weights, ' including pigs, 11.25; heavy hogs, 10.25210.50; {could be | Fesults in failure at an_ entertainment by [ | the Golden Glow Club. when he will Board called a halt, recognizing, long before the average business man, the feverish pulsation in business. Ploneers of Recovery. It is more or less of a positiv statement. Many corporations have paid the price and put their houses in order. Many retailers have cleared their shelves and pocketed their losses; many investors have gone through the clearing house also and charged off losses, offsetting credits to_experience. These are the pioneers of recovery. Out in Chicago the other day the bankers of that city considered how best they should proceed in a large advance of credit to aid building— not business, but housing, so that familles might have homes and cover- ing. Material men were willing to meet them part way, but labof de- manded war-time compensation and the promising housing plan fell through then and there. Further out west, some banking heresies led to gnany small financial failures, the buying power of the community was reduced, the lessened buying power of the farmer and planter, helped along unfavorable conditions. Rebabllitation Slow. Of necessity the rehabilitation of business is at a slow pace. The gov- ernment must be maintained and the material and expensive departments in the various activities conducted. hence taxes must be continued and business must produce the needed in- come. In time we will recover from our generosity. If we were sure of our interest, an- nually, on the big foreign debt would’ help materiaily and the load rried much easier. Fa'lure to mect business obiigations nd bankruptcy. t'onal insolvency is not desirabl though sometimes it may seem un- avoidable. In time we shall coliect in large part of our foreign credits and when this time comes there will be a surcease of taxes, until then taxes will be dependent more or less on na- tional economy. In the meantime orderly tion is steadily progressinz. Profita of Reserve Bamks. The federal reserve regional banks made $180,000,000 net last vear. Under the law, 6 per cent dividends must be paid on the stock, all of which is held by the member banks in ratio to their capital stock. The law pro- vides that one-half of the profits up to 40 per cent of the paid in capital shall g0 to the regional bank, while liquida- the balance of the earnings shall be | ipaid into the ited States Treasury. The $180,000.000 was net profit. It has been suggested by some bank- ers that herein is an opportunity for ithe reduction of the funded debt of | the liberty bonds. Of course, the net, profit was but a little more than i per cent of the total issue of liberty bonds outstanding. Most of the re- gional banks have accumulated ex- cessive surplufes now. ere permitted to retain their entire profit for a few years, using it as | capital, they would then be able to make a great reduction in the debt, while one banker suggests that the purchase of liberties to the extent of | $180.000,000 & year, with the normal in- vestment demand, would go far to- ward stabilizing the market for the| issues. A little federal assistance in the bond market of today would be a help to the liberties, which are do- ing well. Will Office Be Aholished? Local bankers are asking these days whether the office of controller of the currency will be continued after March 4 or abolished. The chances| favor the continuation of the office for some time at least. Eventually it may be merged with the Foderal Re- serve Board, which seems amply en- dowed with powers for the conduct of the official duties of the office. It has the power to examine mem- ber banks and federal reserve banks as well. In fact, it has the power to 1. oo Gar this year $454,000.000 face value honds have been sold on the Npw York Stock Exchange. this in forty business days. In the list are| bonds of the Chinese railway, citles of Bern. Copenhagen, Paris, Lyon, Mars, Tokio and Zurich; of Denmark, Dominion of Canada, France, Japan. Switzerland, Belgium. Cuba, United Kingdom mdhuexico. and an ample supply of each. S'fhe’ demand for bonds has been exoellent and prices have been suffi- | ciently high to permit of some mark- ing up of book values. Evidently the bond market needs a rest; it has acted splendidly and has demonstrated again and again that the general public has money seeking investment with interest around 7% per cent and § per cent. Columbia Graphophone. ! Action in the common shares of the Columbia Graphophone Company on the New York market during the past weck has been very active, thousands of shares being traded in dafly. Informatfon as to the condition of business with the ' corporation is greatly restricted. The selling of the stock has been- heavy, but there has been a buyer wherever there-was a-seller.. Ona thing alono-seems oer- [ R as | it | Na- | 1f the bankst la tain, and that is that those who are still _carrying the common stock— and Waghington has a big load of it —are not trylng to average their losses, as the price movement has | been too narrow to encourage that. Just where the big buying comes from is another quostion. The price was a little lower at the close yester- day than a week ago, but nothing to what might have been looked for with tens of thousands of shares be- ing sold. Al in all, it has given a &00d account of itself. Dividends will be considered by the directors in the near future. One thing seems certain—wisdom inspired by facts andgconditions. by danger in stock dividends, will in aill prob- ability cause the directors to aban. don the long-continued dend on the comimon | thereby help the market. Ixsh:.r:; T;g;lfllr dividend of 25 cents S e 0 e clared ”l? stock should Local Securities. The feature of the local stock and Other secu#ltiew on tha lonal mar- union was here, and it was : Killed off before fairly x::r?e:!l‘.mp.i'l)- tkough the Washington Utilities Com- pany is still in existence, it is today rot strong enough o & ugh to undertake the iy Expert Comment on Stocks. omson & McKinnon of New and Washington have this to u}to;: technical position of the market: We have had a week of decided ir- Tegularity in the stock market. There Was a fair degree of strength at the beginning of the week followed by a period of dullness and weakness to- ward the end. In analyzing all that has transpired, we can find no change in general conditions, but in 2 few in- dividual issues, special conditions have developed that created a founda- tion for tho liquidation that occur- red, such, for example, as the reduc- tion of the dividend by Bosch Mag- neto; the reduction of the price of paper by 'the International Paper Company, and the difficulty of arrang- & necessary financing b: - tic Gulf and ‘West Tndjes.” ¢ AU2% “This company has been Ject of discussion in market circles for fome time. The stock has been under pressure for many weeks and toward the end of the week a new wave of liquidation resulted in estab- i lishing a new low price on the pras- ient decline for this stock. The liqui- | dation that occurred in other groups, such as the rubber tire companies and leather companies, was based entirely on the poor financial showing made in recent ~ statements. This. -however, could not possibly have been a sur- prise to traders, since all have been familfar with unfavorable trade con- ditions that prevailed during the lat- ter part of last year and, as a matter of fact, was then the cause for the heavy liquidation and sevcre loss in quoted values. Reading was one of the disturbing elerhents of the week and we have each day a moderate amount of liquidation due to the fact that the dissolution’plan is far from | what traders have expected. There has been great disappointmant be- cause of it and some organized oppo- sition is now taking form, and as it {Is still subject to approval of the court, there is really no certainty at this time that the dissolution plan will be completed in accordance with the present outline.” OYSTER PRICES DROP. ;Best Grades Now 50 and 60 Cents in Retail Market. BALTIMORE, February 19 (Special). —The large reduction in the p oysters at the eastern shore canneries and packing houses, due to the re cent mild weather, has been reflect { «d in the local retail price. the figure for the best grades dropping from {60 and 70 cents a quart to 50 and 60 cents in the last three weeks. . These prices, the highest prevail- ing locally, are asked for Patuxent {river oysters, which are considered to be the best. Lesser grades may | bo bought for as low as 80 cents a { quart, having been dumped on the | local market recently in large quan- tities. 1 —_— N. Y. RESERVE BANK REPORT. NEW YORK, February 19.—The I statement of condition of the Federal Reserve Bank of New York at the close of business February 13 shows: Total gold reserves, $431.681,143. Total reserves, $591,146,360. Bills discounted, secured by gov- ernment war obligations: For - bers. $375,282.087. L gl:lolheb F'o;members.slk'» 5. bought in open 1$18.193.356, > Total bills on hand, $888,732,745. Total earning assets, $949£68,988. Uncollected items and other deduc- tions from gross deposits, $144,589,613. Due to members: $656,664,128, Total £ross deposits, §769.284,649. ederal reserve notes in act ir- culation, $791,990,630. stual e Ratio of total reserves to deposit nd federal reserve note liabilities combined, 41.7 per cent. —_—_— NEW YORK BOND LIST. EW YORK, Febru .8, 23, registered. .S, 25, eoupon 45, registered . 3. 44, coupon. Panami 3s, registered . Panama 3s, coupon . American Smelting and i American Wel. and Tel. ¢ Armour and Co. 43 Atchison gen. 4 Atlantic Const Line lst Ealtimore and Ohlo cv. 415 Tiethlehem Steel ref. 5. Central Leather 5a. Central Paciic 1at the sub- 6.800. market, 0015 *0pi, 5 Firie gen. 48 General ElecY; Great Northern 1st 43 i Central ref. 4s. Taterborongh Rapid Tra International Mereantile Marine ansa uthern ref. Liggett & Myets boo .o l.l;uinl'lill ;‘nd lhlv‘“l.; un. 4s souri, Kansa Miwsonr. Kansas and Texas i 41 New York Central del Norfolk and Western Northern Pacific 4s. orthern Pacifc 3a Oregon ine ref. Pacific Tel. and Tel. 3s. Pennsyivania consolidated 4 Pennayivania gen. 55. Reading gen. 4 Republic Tron and Steel s (i940) St Louin and San Franeisco adj. 6a. Hoarnern heil ‘Telepatue 5 el e Southern Pacific cv. 5 87 ot -es* £ >80 'acific 43 *S13, ingdom 5355 (1937 ubbes ® ) stock divi- | of | actual Reserve account, | | ket for coffee futures was easier to- gl the action of forty repre sentative stocks dealt in on the New York Stock Exchange. covered is the past month. up to and including the close of the market Friday, February 18. The lower section of the chart indicates the relative activity of the market. FEBRUARY ~——JANUARY: 22 22 %425 2% 27 28 3457891011 141516018 The period 8 31 2 = y L $7IVH ¥22 VIS — SIYVHS NOMIN (Copyright, 1921, by W. F. Meyer.) A e s al market High 1920 =iod High 1921 to Date strongth in" the w:::‘:‘ur'i‘l‘l’;vbe:;‘ :'fie | Industrials .. 109.88, January3 | Industrials .14, February 16 Washington Gas Company, which are | R34S - 85.37, November 3 | Rails .......77.56, January 15 Near their high levels of the yea,r.i : Low 1920 | Low 1921 to Date ' Dar cf | e ing above par . Cont Notes are sell- ly,gustrials . 66.75, December 21 | Industrials . January 3 Rails .... 67.83, February 11 | Rails . ) February 11 ket were steady and re:. o with Railway ’pr(»rpr:id‘o:r?:%nn;m& Twenty Industrial Commeon Stocks Used Are: trend toward higher figures. Amcan AmSugar o Centralleather Replrn &Steel US Steel Am Car& Fary Am ‘orn Products Studebak: Utah Goppe: b Talk of Merger of Ronds. Am Locomotive Anaconda Gen Electr Texss Company Weetingaouse desire jusems to be a very general| Am Smelting dwin Loco Goodrich U S Rubber Western Unioa now for the merge of Capital Traction and Washington Twenty Railroad Commen Stocks Used Are: ¥ and Electric. Whether the| Atchison € M & St Paul K C Southern Northern Paci ding shareholders of the former road are| Maltimore&Ohio Del&Hudson Lehigh Valley New Haven e eathets Pacite anxious for the merger is not known. Canadian Pacifie Frie Louls & N; Norfolk & Western Southern Rwy Time was whem the vehicle for the| Ches & Ohio Tilinois Central N Y Central Penusylvania Union Pacifie Daily Movement of Averages: Industrials. *Rai January 20, Thursday. January 21, Priday January January Janvary Tanmry January Januvery January January February r February 98 Friday .. February . T4.34 1410 LIBERTY BONDS AT A GLANCE. e e s 5o Wasey W Liberty 3% ...... 100.40 89.30 6-15-47 93.50 91.04 9122 405 Liberty 1st 4s 9348 8300 6-15-47 88.50 8524 8726 486 Liberty 2d 4s. 9290 81.40 88.10 85.34 *B680 5.00 Liberty 1st 4%s 9400 84.00 88.70 8§40 87.}8 513 Liberty 2d 4%s 9284 81.10 8840 8530 8676 528 Liberty 3d 4%4s. 2 9500 8560 14 8800 9004 59 Liberty 4th 474s 93.00 82.00 8860 85.74 87.00 540 Victory 33s . 99.40 94.60 ‘?ZM :Bfl 97.38 499 Victory 434s . 99.40 9470 97.40 95.86 ?‘Z‘.:O 599 {FEARS FOR WHEAT CROP | AFFECT WEEK’S PRICES CHICAGO, February 19. — Notwitl standing that returning wintry condi- tions promise to ward off crop dam- age by green bugs and Hessian flies, the wheat market this week has | failed to free itself entirely from the effect of misgivings. Compared with |a week ago, wheat prices showed 1 2 to 4 edvance, with corn up 1%, oats 1 to 1% and provisions 5 to 40. Anxiety in regard to the safety of the whéat crop reached a climax when one of the leading field experis of the country went on record as = ‘ing the situation needed careful watching, as the insect pests, which were threatening a disaster, had ap- peared a month earlier than usua and had already multiplied to 2 extraordinary extent. Green bugs. in | greater or less quantity, were report- ed as infesting the wheat belt all the way from Texas as far north as cen- tral Illinois. At the same time, evi- denee of danger from Hessian flies was noted in the various states touching the great lakes. Broadening of ex port demand for corn tended further to strengthen wheat prices. Later, however, probable veto of the emers- ency tariff bill had a bearish influence, and so, too, did snow and rain terday, and predictions that next w would witness the coldest weather of BRITISH MONEY IN LOAN. Planning to Share Sum Wanted by Brazilian State. LONDON. February 19.—Thé Brit- ish share of the loan to be contract- | ed by the state of Sao Paulo, Brazil, will be issued here next week, the bonds to run for thirty years at § per cent Interest. The Amsterdam and New York issues will be on the same terms. It is stated here that Sao Paulo is clear of all short-term external in- debtedness, but hac a certain amount of short-term internal indebtedness, and. it is assumed, the new inter- hational issues wiil enable her to piy off those obligations gradually. Announcement of the loan was re- ceived with satisfaction by British houses with Brazillan accounts, as it is calculated it will facilitate {trade with that country and improve { exchange rates, thus benefiting ex- | porters and buvers. The bonds will be issued here by | Baring Bros. & Co, N. M. Rothschild | & Sons and J. H. Schroeder & Co. nEbara e | NEW YORK BANK STATEMENT. YORK, February 19.—The condition of clearing house NEW i banks and trust companies for the | the winter. ment port sales of corn and owing to am- of $7.625,150 | The statement follows: ! “Provisions were firmer, in line with | decrease, $20,216,000. ,000. . E SN serve bank of | Variance in Figures, But Total Is $8,207,000. records of the week's commercial crease, $1$9,000. erable variance; Dun's reports 46 crease, $362,000. week, against 389 last week. Both posits deducted. $60,372.000. . i e- ing week last year. ! Circulation, $34,405,000; increase, reported, but the business mortality at I week shows that they hold $11,722,370 | Corn and oats displayed indeperdent This is a decrease sertions that oats were scarce in the Actual condition: { hogs and grain. Cash in own vaults, members fed- Reserve in federal Ahead of 1920. Treserve in own vaults, state banks : failures, as reported by R. G. Dun Reserve in depositaries, state banks this week, against 364 last week | “"Net demand deposits. $3,798.837,000; ! agencies report more failures during Time deposits, $230,941,000; “In this week last year.” says R. G 230.000. 4 51458 000. e | Excess reserve, lum time was unusually modera ireserve in excess of legal require- | strength as a result of liberal e : from last week. | east. ~ i Loans, discounts] ete, $3,001,150,000; | eral reserve bank, $77,652,000; de- member banks, $496,651,000; decrease, NEW YORK. February 19.— The {and trust companies, $8,938,000; de- & Co. and Bradstreet's, show consid- !and trust companies, $9,263,000; in- while Bradstreet’s reports 358 this decrease, $195,000. United States de- the current week than the correspond- | crease. $11,725,000. Dun & Co. “only 124 failures were 1 Aggregate reserve, I 5 $11,722,370; de- | ) ore defaults occurred this week in TR each of the geographical sections into which the statement is divided, there being an_increase over last week of thirteen failures in the east, forty-six in the south, thirty-two in the west and seven on the Pacific coast. The number of insolvencies involving $5,000 or more in each case this week is’ 220, as compared with 177 last week. TRADE BOOM PROSPECTS. Publishers See Little Hope for Early Recovery. NEW YORK, February 19.—The” Summary of state banks apd trust companies in Greater New York, not included in clearing house state- discounts, etc., $581,459,100; i decrease, $445.600. Gold, $6.834,400; decrease, $49.900. rrency and bank notes, $16.766,- 900; decrease, $308,900. Deposits _ with ~Federal Reserve Bank of New York, $51,566,900; in- crease, $975,900. $609,773,500; | Total_deposits, crease, $1,113,900. | “"“Total deposita eliminating amounts {due from reserve depositaries and other_banks and trust companies in New York city and United States de- R 2 4,362 {'33‘_"" BDeEA e Mecroan ) prospects for another boom in trdde Hanks: Cash in vault, $26,887,000. | are small, according to statements Trust companies: Cash in vault,: made by editors of various trade pa- $48,271,200. pers at a luncheon meeting here of jiee e the editorial conference of the New —_————— York Business Publishers’ Association. COFFEE MARKET EASIER. Short statements of conditions in NEW YORK, February 19.—The mar- in- the railroad. coal, chemical, iron and steel and dry goods trades were made by the editors. Dry goods, according o the statements, were more stabiliz- ed than any of the other commodities discussed. The outlook in mining, shipbuilding and the automobile day, owing to realizing for over the week end and the approaching holi- day, while there also appeared to be a feeling in some quarters that de- clines in Brazilian milreis prices might offset the advance in Rio exchange|trades is mot particularly encouraging rates. The market opened at a decline|in the opinion of the editors, and of 2 to_7 points and sold about 5 to 11 | chemicals and iron appear to be head- points net lower, with March rela-ieq toward lower prices. tively easy under scattering Jliquida- it ki air oy 5 tion.” Closing bids: March, 6. ay, $95; July. T40: September, 7.18; Octo-| CHICAGO LIVE STOCK MARKET. ber, 7.90; December, 8.14. CHICAGO, February 19 (United Spot coffee, dull; Rio 7s, 6% to States bureau of markets).—Cattle— Santos 4s, 9% to 10. Cost and freight| Receipts, 1,000 head; compared with offers showed little change. They in- | week ago beef steers 50 to 75 higher: cluded Santos 4s at 9.70 and Rio 78 at| good to choice she stock 25 to 5 €.75 American credits. higher; other grades steady; canners —_— and cutters 25 to 50 lower: bulls - steady; calves 25 lower; stockers and NEW YORK SUGAR PRICES. |0, jers 50 to 75 higher; spots show- NEW YORK, February ~ 19.—The ing more advance. local market for raw sugar was quiet Hogs-—Receipts, 10.000 head: lights and as no fresh business was 2d | mostly 10 lower: others steady to cost and freight, equal to 5.64 for Cuba’s! gtrong with yesterday’ average: coast and freight, equal to 5.64 for cen-| 2504 clearance top, 9. bulk, 200 trifugal. There were offerings at quoted | pounds down, 9.4029.65; bulk, 220 prices, but ne demand. S unds up, 8.90a9.25; pigs, 10 to 15 The market for refincd was steady and | Bizher: bulk. desirable, 100 to 120- unchanged at 7.50 for fine lated. und pigs. mostly, 9.25a9.50. There was only = quiet trade in futures | Pgne. D€L SO 6000 head; mostly an operators were inclined to even up| giract, compared with week ago: fat and await developments In connection | farsba’ and yeariings 25 to 50 higher: | with the proposed Cuban selling plan.| fat gheep 50 to 1.00 higher; feeder It was reported that the committee in 5 to 50 . Cabe would begin operations next week, | 1amb8 23 to 50 lower ‘which led to a little covering and prices vanced sl losing unchanged to| Egypt was the first country to have idmmw & mulitary organization, about 1620 B. 'C. ¢