Evening Star Newspaper, March 28, 1921, Page 18

STEAMSHIPS. STEAMSHIPS. VISIT EUROPE NO r WHITE STAR LINE 5% NEW YORK—LIVERPOOL CELTIC......Apr. 2, Apr. 30, May 28 CEDRIC. Apr. 16, May 14, June 11 MEGANTIC < .. April 21 NEW YORK—CHERBOURG—SOUTHAMPTON Adriatic......... Apr. 6, May 4, June 1 Olympic........ Apr. 20, May 14, June 4 NEW YORK and BOSTON—AZORES—GIBRALTAR—NAPLES—GENOA CaNoPIC. ..veneenieiieinnnes ApFil 20 Cretic May 11 AMERICAN LINE and RED STAR LINE NEW YORK—PLYMOUTH—CHERBOURG—ANTWERP Lapland ..Apr. 2, May 7, June 11 Zeeland Apr. 16, May 21, June 25 Kroonland Apr. 9, May 14, June 18 Finland Apr. 30, June 4, July 9 NEW YORK—HAMBURG—DANZIG—LIBAU Gothland. ciieiiiie......(3d Class Only)........ D -April 4 AMERICAN LINE—New York-Hamburg (Direct Service) Manchuric ..Apr. 14 | Mongolia. ....Apr. 28 | Manchuria. May 26 Minnekahda (New), Triple Screw, 17,220 Tons....Mar. 31, May 12 (3d Only) INTERNATIONAL MERCANTILE MARINE COMPANY 208 F S Manage: United American Lines e with Hambx;rg-vAmerican Line | TAUGHT IN 30 DAYS Anit Royal Mail Steam Packet Company . il Rertin. Vi val. Lond w0 NE BERMUDA 30-DAY STENOGRAPHIC SCHOOL, 1410 H st. n.w., second floor. Main 2876. \ACCOUNTANCY h S e sl ! HEGISTER NOW FOR | Day and Evening Classes ~ PACE INSTITUTE 715 G ST. N.W.. Corner 8th and G Sta. lexpense 1 “lslands of $131.33 | 2 e 1€ SCHOOL _ OF 4 TOUR S0 Bond Bidg. SPANIS WASHINGTO! Profs. fro 8 Converss Method Steamer Charles Macalester Tth Street Whart L-aves Dally pt Sunday | COLUMBIA 2 smdt | SCHOOL of AND MINERS | Aransportation Com) abisued 1854, DRAFTING | » s Larricd. Not a Life Lest. | qu C. Chflin' Pres. N LA SviroLk. i DO NG i kiivir s 2 (| 14th & T Sts., North 272 PROVIDENCE i jvsroix, — f I SAVANNAH LAY, {] Night Classes—Day Classes JACKSONVILLE ¢ra ! Individual Instruction Meals 4 bLerin in statercom on Main Deex i Course in 3 to 9 Months can uded ST. PACTL 420 or Write for Latest ¢ 1005 American | 100% Service tookkeeping nghly © Washington Business College 1 G N N.W. MAIN # { SCHOOL AND COLLEGE TEXT i books for every school, and miscellancous books UEENSTOWN ttad +Q CFBen pemitied) | Z%ahi Saytects Dounht and sald Hee oo PEARLMAN'S BOOK_SHOP. 633 G st. n.'w. —BOULOGNE—LONDON | I PUvt-Clase Only —Luzurions New 16-Knet SMps ! Shortt “{' 'ZOPT‘I‘\T' c s, OLD NORTH STATE, Mar. 29, May 3| e PANHANDLE STATE, Apr. 19, May T (Pitman or Gregg.) — { Typewriting—é Lessons. NEW YORK-—BOSTON—NAPLES (Touch. | Quickest—Cheapest —GENOA: Cabin and Third Class it i SRR POCAHONTAS. ..Apr. 9, May 19 : CIVIL SERVICE CLERK PROMOTION c 2 | Examination. Fiest zrade. April 1: o !A[lrl 5. & l'ill'ilil'xc!m;n and_women. NEW YORK —BREMEN—DANZIG | Schoor s oo 1hne ¥ o REFARATORY (Cabin a2d Third Clase) MUSICAL iINSTRU! SUBQUERLANSA - . .- Apr. (6. May “lsn:zx. GUITAR. !’Kfll;l cfl?’zfi- N W ROCHELLE, Apr. 9 | A C_ STUDIO. six lessons. HAWAIIAN SIC STUDIO. ANTIGONE May 3, June 15| Mnmouth Hotel. Franklin 5630, Apt. 308, 3 Washington Conservatory of Music MAIN 7858 ALL BRANCHES 1406 N. H. AVE., AT DUPONT CIRCLE. 31+ RAGTIME PIANO PLAYING. 10 TO 20 LES. o Soaranteed; note reading taught: demon: 2 to 10'p.m. ART 8C 3 LAR MUSIC. 1403 B st. n.w. tmm'ifl:“_’ 0w TRADE PROBLEMS o s | TOBE DISCUSSED 2 Encircling the Globe Drafts and Foreign Money Orders For Eatlings and Full Information APSlY COMFANY'S OFFICE, 7 Lith St N.W. Washin MOVING. PACKING & STORAGE FURNITURE RE 1Py nates. R GRANT. and Acconnting, Sarest. Send for cireular. SCHOOL., Stewart Buiiding, Baltimore Phone Calvert 3460 & 45 BROADWAY, N. Y. Passenger nnd Freight Speakers of World Reputa- tion to Feature Meet- ing at Cleveland. T R o 611 ,-‘.%! CLEVELAND, March 28 (Special).— V\’;&lfl&kjfiflbmfi" STORAGE . ft. Figest & City. B Merchandise. Expert Packers, Craters & Shippers City, Suburban and Long Distance Moving. N_ 8845, stimates. 1438 U st. n. riety are to be handled by men of in- ternational reputation at the coming convention of the National Foreign to 7. ‘While the program has been ment of subjects for discussion to date has marshaled an imposing ar- porting in general and the many Questions that are constantly arising in_export trade. The program as outlined by topics covers practically all of the more im- portant lines of industry contributing. STORAGE H. BAUM & SON d R gt We Also Buy Furniture 2 - Phone. F. 5302 B. MOSES & SONS, 11th AND ¥ o Modern fireproof storage. “SAFETY FIRST” ABSOLUTELY FIREPROOF STORAGE MOVING—PACKING—FREE ES: to ou export trade. The first an- - S TIMATES | nouncement of speakers select 2 UNITED STATES STORAGE CO.|fjtaten that tne disessmon: woédyin- 418-420 10th St. N.W, the export ficjd both from the view- P Main 4220 or Franklin 2423 | point of the American exporter and PADDED MOTOR VANS FOR LoNG.pis | the foreign buyer. The latter feature tance and Jocal haulinz. packisz and cating | Will prove particularly interesting to dome U5 Cpericncnd “meni storage 1 per| the exporter. and especially to the EXPRESS co 208 11 TICUT, STORAG ._;-“’ manufacturer who is just about to embark in the export trade. Speakers and Toples. In the general sessions these speak- ers and their topics have been an- nounced: Wednesday PH FRANK NIGHT CALL M. 7978, I'ransfer Co., w Foreign Trade,” ers’ Trust Company, New w. Phone Main 1252 “Frozen Credits—What They Are and How to Thaw Them,” W. P. . Hard- ing. Federal Reserve Board. After- noon session—"Value of Long Credits to the Exporting Manufacturer,” Meyercord, llinois Manu- iation: “The Lum- Ill:Bl; 4 Transfer Co.; ln;., 1125 14th Se. N.W. F 2054 pecialties,” F. H. Tay- R. Phone Ma Long-Distance Moving | ———s- s AuCE LNOVIng ) 8. S. White Dental Manufactur- Hupp Motor 1 - COMPANY i g poration and chairman of the National Siiip o By Careful Men. Rat Heanonabl dustrial life. ATLAN or N. J. r Exporter's Machinery,” J. J. Donovan, Bloedel- Jonovan lumber mills; Specialists in e ing Company. S UN Tl Thursday, 10 "a.m— - f ' ION vice to Foreign Trade, ¥ | STORAGE /{5t Mari A time Policy,” James A. Farrell, presi- dent of the United States Steel Cor- N Foreign Trade Council. t =, - Group Sessions Attractive. SEP, TE R sl Menits | Preliminary announcements for the ARA' 00MS, Lical aad Long Distance MOVING P |8chedule of addresses on many sube ln‘ S 1 cts :nrl!nflé\l ;n ll)olh foreign and P A"('KINJ. EXPERTY 'omestic trade by leaders in our in- North Z0ss FraFave N.W, R in the asignment of foreign s ESORTS. which 1o expeated. to be aapcakers | "EaE s Raxe You Feer o "Gty of Hobust Healtht > 00 ' Hotel Morton Oosea End Virgiaia Ave. Capacity, 300, . Private Baths. stc. i G. BELT acd AL M. o completed. FOREIGN BONDS. Quotations furnislied by W. B. Hibbe & Co. Prices at noou: Berlin 4% Greater Beriin 4% Bremen 4%u. German gov. 4x.. 13} German gov. bs.. 15 Krupp 4s. Cobleoz iad. Aniline 41,n Fresh and sea | Cologne 4y.. AL Bl Gen. ths: ruGning water in rooms: elevator, | | Danzix 4». Mein 17 table. Spring rates: Coaeh W.R LAYT( EDONIA :=8s THE HOTEL THAT HAB ADVERTIZED ATUAR AT rOR 2D YEAl MAINE Darmstadt 4x Tiank 4x Preuxs Bunk 4x. . 17 17 i Frankture i furt ambark = | Hambars 3%, Hamburx x . Hamburg 4';s CAMDI Koenigsbers ‘a.. 13% War loan 4 fow frutclase covages for reot. Comden. | Lefpzig 41n. 00 175 Tualian 5o Sa, ity Write for particulars. | Leipaig 5a....... 1835 ltaiian notes i9: ol el 4 German gov. 3. 13 2 ISRV wig P TR “A‘ | icountry c |for the opening of work on farms, | ment. ! dex of local conditions, in which, how- ray of authorities on financing, ex-|reassuring and this morning’s mal ced for Long Credit { rounded. Credits and | from the The program is lacking particularly | be: shortly and is only about two-thirds | convincing fashion. Belglan Heat, 8e. 70% jtinct trade revival has followed. BRISK EASTER OUT IN CHICAGO, BUT TRADE IN THE MAIN IS SLOW Price Level Continues the Most Interesting Economic Factor—Bank Rush for Loans. Situation in Other Sections. (Dispatches marking the progreas Justment the of of the deflation and re: process In business throughout country, giving the conclusion: upecinl correspondents, who hav structed to present condition: d y renlly exist, are rinted daily in The Star.) BY A. D. WELTON. Special Dispatch to The Star. CHICAGO. March 28.—Brisk Easter buying in retail stores brought joy to the merchants and such charges of profiteering against florists that| they made public denial and explana- | tion of costs It was a straw, how- ever, showing the direction of the wind of public thought, The tanking situation has been very little improved. i. @ lemand for loans continues without .oatement and the larger banks teel the pull from their rrespondents, who are un- der_pressure trom the reserve bank to force liquidation by farmers. The warm weather has made the farmers busy for the season and indifferent about selling what they have to get funds to pay tieir bills. Liquidation will, however, continue, because the movement of prices downward must continue until tne readjustment is complete. Some Hopeful Signs. There is a decided movement of goods trom producers and whole- sglers. A manufacturer of catsup and preserves, who says he could sell nothing 4t any price in January, has sold Y0,000 cases in the last six weeks. Taere 13 hoperuiness along wutomo- dve row not diminished by the re- port that there are 100,000 men unem- ployed in Chicago. It must be ex- plained that Chicago is & great labor market and this season always brings together here an army that wails roads and northwest is railroads through the| The extent of unemploy- not therefore a correct in- no marked improve- ever, there ment. Conditions Abroad a Fnactor. The price level is toe mcet interest- ing cconomic factor, and the most im- portant thing is tnal prices are not level. It is the leveling process which causes the present troubles. Business men talk eagerly of the European sit- uation. Conditions abroad affect every line, directly or indirectly. Failure to settle wage disputes in England's coal mines will have an effect in Chicage as well as in Europe. A big steel cor- poration here is Keeping in as close touch with that English conference as with the conditions of business re- ported by its salesmen. Never were the banks and business houses giving so much attention to analytic work. “Care and conservation in business is the lesson we are l.enrn- ing.” said a bank president. “We are coming down slowly but surely to a level of sanity and everything will be well as soon as the new level is reached.” New York’s Easter Trade in Excess of Period of 1920 BY JAMES ALLERTON. Special Dispatch to The Star. NEW YORK, March 2 A census of the chief stores in New York at the close of the Easter season shows that the volume of trade was materially in excess of that for the corresponding period of 1920, whether for the last full week in March or for the week preceding Easter, P In stess ere statistic - pnriu‘i’r&”w E‘;nsflhle the increase was esgimated at from 10 to 25 per cent. Most of them reported a jump of approximately one-fifth. On a ‘unit basis this was not only most satisfactory, but unexpected. On a price basis, however, the showing was not so gratifying, for not only were prices substantially below those of last year. but the margins of profit were still narrower. If profits should be figured on replacement costs, it is probable that this margin would be wider, for in most instances actual costs have been employed, and the high production costs of last fall are represented in most of the stocks now on the shelves. Buying Activity Contin more signifiant aspect is that ail indications are A of the situation Foreign trade problems of a wide va- of a continuation of buying activity. Easter is not the “dress-up” time it used to be. The 5th avenue parade yesterday was trivial compared with other days. The audience was hug Trade Councll in Cleveland May 4|but the performers themselves were few. In other words, the weather itself i8 now more of a factor in only partially completed, in so far as|, parade than the season, and this ®peakers are concerned, the assign-|years activity was due rather to the coincidence of the two than to anything else. The consequence, nev- ertheless, was something more than were burdened Wwith restock order: that are bound to have their effect on _trade in general. Outside the apparel field condi- tions continue in a state of flux. They may be hardening about the edges, but the heart of the mass is still molten, and solidification is not o be expected before summer or fall, hopeful prophecies in some quarte to the contrary notwithstanding. Wage Adjustment Slow. Wage readjustments here have not come within sight of the end. In ye 0 the city proper. for instance. they rave not yet affected the building trades, although as individuals hun- dreds of craftsmen have acdepted less than their scales. Afi enfilading movement has just been started, how- ever, and in ewark, the largest of the communities adjacent to the metropolis. the Buliding Trades Em- ployers’ Association %as announced that for ten of the thirteen chief trades with which it has agreements there will be reductions ranging from 10 to 20 per cent, effective May T This movement may be expected to spread until the city has been sur- Then, when nearby places of employment have been eliminated bargaining, the movement may be looked for in the city itself. When it reaches here a good one- fifth of the entire population will be overnment | directly affected. - lIncreased Auto Demana _Frisco Revival Feature BY LYNN C. SIMPSON. Special Dispatch to The SAN FRANCISCO, March 28.—One ons show a very attractive | of the best signs of improving condi- tions in this district 1s to be found in the increased demand for automo- biies. John W. Leavitt, one of the st known distributors in California d: Business has come back in a most After a_period of dullness which lasted for some months there has been a sharp re- vival of demand. Throughout this entire territory this condition pre- vails, although In some sections it s more pronounced than in othérs. Nat- urally in those sections where crops : 18y |are moving slowly the improvement 41% | is not So marked as In other This statement Is borne out by & number of other wholesalers. Trade Still Depressed. A review of conditions by the fed- eral reserve bank of this distric which secured statements from more than 140 wholesalers, showed that re- tail trade as a whole is still somewhat depresscd bécause dealers refus take losses and restock at lowe: pric In some lines, mowever, liqul dation has been completed and a di An announcement by the Southern Pacific railroad of reductions of the carload rate on wool by the Galves. ton route to the Atlantic ports from $1.66'; to $1.25 and $2.16 to $1.50 is construed as a warning that the rail lines are going to make a fight to hold their transcontinental traf- fic against Panama canal competi- ion. Although experimental shipments of apples and oranges and other per- ishables by the canal route have brought good results, there is a feel- ing among the melon growers and other shippers of highly perishable products that the rallroads have a distinct advantage for their use. , Canners' Problem Disturbs. The uncertainty of the canners is | having a disturbing influence on the fruit ° situation, particularly for peaches. With the indications of a banner crop, the growers are in doubt as to their market. It is stated that some of the canners in the interior have announced that they would not operate this season. One concern has offered to lease its plant to the growers, so they may preserve their crop. The growers naturallv are Inclined to think this talk is part of a bear movement to bring down prices. Significant evidence of business re. vival was given here Friday, when the state railroad commission refused to permit an increase in express rates on the ground that the husi- ness of the companies is profitable and getting better. New York Move to Unite for General Sales Tax Special Dispatch to The Star. NEW YORK, March 28.—A move- ment has been started here to unite all individuals and trade associations who favor a general sales tax as a substitute for some features of the federal income tax now imposed. It has been organized by the Tax League of America, with headquar- ters at 1270 Broadway. and the pro- gram includes a “campaign of ed cation” in every congressional dis- trict. Hazen J. Burton of Minne: president of the league, said to- ‘“Notwithstanding the complete breakdown of ‘the present system of taxation, the tax experts who de- vised it now propose to continue it in operation, with some revisions and exemptions. But revisions and ex- emptions will not meet the situation. A Dbetter, simpler and wholly new method is required, and the business man must lend his business experi- ence in solving his own tax problem. “Effectively to aid the return of prosperity in this country, we must promptly lift from the shoulders of business the blight of the present method of taxation by substituting therefor a general sales tax. Some Posstbilities Shown “It has been calculated by some of our soundest thinkers that a sales tax of 1 per cent on all business turn- overs would return at least $2,000, 000,000 in revenue annually. This amount. plug that derived from a moderate income tax and other ex- isting sources of revenur. would fur- nish more than the $4.000,000,000 re- quired by the government annually. A sules tax would be paid by the whole body of the people, but in in- | finitely small amounts by each indi- vidual It would abolish the present harmful method of class tasation and would reduce the cost of living with- out reducing the profits of the pro- ducer.” Business Notes. ATLANTA. Ga. March Southern Sash, Door and Millwork Manufacturers’ Association, embrac- ing eleven states, has made public the result of a questionnaire sent Lo fifty-three factories. The replies show that orders run from fair (o poor, but that inquiries are good and the outlook for more building activity is favorable. In answer to a ques- tion as to whether rents, foodstuffs, feed, clothing. shoes and wages had declined in_proportion to the selling price of millwork, eleven cities an- swered yes, and forty-two answered no. As a whole, the questionnaires lead to the conclusion that millwork will show a steadily increasing demand. NIEW YORK. March 28.—Retailers in the jewelry trade report a steadily increasing volume of trade, but the wholesalers have not yet begun to feel the influence of the new move- ment. It is claimed, however, that retailers are not heavily stocked, as a rule, and that orders in the whole- sale trade may be expected soon. No overwhelming purchases are antici- pated. because the retailer is ex- pected to move somewhat slowly. Prices in the trade have tended to harden rather than to recede, al- though in the inferior grades of d monds there has been a slight re- duction. Silversmiths declare that silverware prices have reached the bottom. Interest ofl THE EVENING STAR, WASHINGTON, D, O, MONDAY, MARCH 28, "1921. TODAY’S BOND PRICES. Noon Teported to The Star over directSouthern Pacific 1st ref. 4s. ek Waskiagton wire by Beamond & Co. | Southern Pacific coor. Southern Railway gen. New Olty of Paris 6s 1921 Fré Government of Switseriand 8s. Cnion Pacific coar K of Belgium Ttis. + 98% | Union Pacific 6 1928. U. K. of G. B. and Ireland 5%s 1921.... 9% | vniods"atabes "Rubher 5a. UL K. of G. B. and Ireland 3iae 1922.... 94% | Uniteq States Rubber To... . K. of G. B. and Ireland 5%s 192.... 8% | United atates Rubber 7is. U 851 | United States Steel S. F. Se i of G B. and Ireland Sipe 1007 Routhern Railwa: Tnlon Paci 4s. 3 . SAY GOLD RESERVE INRUSSIA IS DOWN American Tel. and Tel. co TN | v rolina Chemical Tigs 1932, o2 Armour & Co. 4! { i il 2 ET A | S e as -~ = Economic Groups in Paris et SRR TS = SHORT-TERM SECURITIES. Atlantic Refining Co. 8 0%, s . Biltimers and! Cals sour” Algs 681 (Reported by Redmond & Co.) Put It Now 5200.000.0(!) gfl:flmum xdl (,Ix:n‘i: sfl.“ B8l Rid Offer altimore « American Tel. & Tel paY 9T | Bethlehem Steel refd. Tel b a8y (L‘autnl: ll:llner . h 93! s:.t‘ at the MOSt' Central Pacific 4a 1049) Wt 100k | 3 L SO o Chesupeake and Ohio conv. 43%. > 10015 Tooxs | BY PAUL SCOTT MOWRE Chesapeake aud Ohio gen. 4lys.. American Tobaceo Co 09% 993 | By Cable to The Star and Chicago Daily erapeake u‘ud m“t“d“l"" e :n.:».xfl. Copper 0 ;w_-. san ,mn, Copyright, 1 . Burlington and Quinc: x | Angin-American 01l Tia A > i , - Chill Mil. and St. Paul refd. 41gs. Avmour & Cor 12 1030 961y 'oas, | PARIS. March 28 —Russia’s gold re- Chu MU and St Panl cone 4l Kethlehem $ | serve is nearly exnuusted, aocordin icago Northwestern 7s 1030... ... ... a4 [ ro ¢ conc o 3 = i e Hilto the coonomists of the Rusi cago Union Station Glyx..... = ot d ocratic groups in Connolidated Gax Ta............ Chicago, R 9 | Paris. O - Delaware and ‘Hudson 3¢ 1740 e ] f(:"L:I;: ::‘:;:"‘:‘ ct they make the e general ien 48, e General Electric 6x. % . 2 Tilinois. Central’ 51, pery Nobody at present believes that the Tateruational Nercan 4 oy [soviets have any products to export nter. t 1 3 % |or woul bAIE Lovisvil Nanhiiie 311080 Hoeking Valley f 124" 9l g1 °| o Wwould be capabie of exporting Mo Ka RO i b Kennecott Copper 7s 1980 910 Sl |them. The soviet commissars know :\ai,: {"H"fl.".f,f.’."??'":& 5, | LAEBELE wn ‘4,;_'.'3‘:"': 0' 1921. 93% ¥ ] this as well as do the British. It is New York Central deb. s Pridenc® Qambiaidy) SR also agreed on all sides that the only Ne: o ... Proctsc & Gesbin : thing exportable in Russia is gold Norfolk and Western conv. 6. Beats, Russian money is 0 depreciated that NoHfolkyand Wedterat cons S 1013 Kears! > imports can be paid for only wiit Pennsiivania’ Co. W 103 g ; S e e O e L svivania 7s o S o g « .000.000 rubles Ponnsylvania gen. mortgage 41gs... ... |5 5 > 2 (£200.000.000) at the most Reading General $x.._................ N e . : According to the treaty of Riga. the St. Louis and San Francisco.dx, series A. Swift & Co. Ts 1 . soviets must pay 30.000.000 rubles St. Louix and San Francixco 6s 1929.. ... Texas Co. 7s 1 . ($15.000.000) of this sum to Poland 8t. Lonis and 8an Francisco inc. Gw.. | Unlon Tank e esies: Abo 0,000,000 Seaboard Air Line refdg. Went, a About 20,000.000 rubles ($10.000,000) Sea Li 5 S 45 extern_Electric i have been aband S Neaboard Air Line adj. ? i ey v“lm.n“«:‘n r:mln‘l 1o n;: border ————————————————————————— e e e e, ¥ icl reaties have also buyers in temporarily the leather market seems to have waned, and the {MORE COAL MINES CLOSE. been concluded. Millions for Soviet Propagnnda. gencral conditions may be described B e 00058 rubles (3% 90000 as listless. ~Specialties are in de- |Industrial Inactivity ana Soft |soviet Fovernment and nearls ooonn mand. In the shoe section all orders | o e reauant nd edEly 2 ;fii'mw'" n%\’\w ai': lnlrlv‘ I?,r ""rr;:dl:-' | ‘Weather Deaden Demand. this same gold serves {n.r |T«:1:mf iy elivery. re is little or no buying | s = for the future. yIRg W YORK, March 28 —In review.|Propaganda abroad. It is therefore = ing the coal market for last week the | Black Biamond says: evident that the gold reserve at pres “nt is not more than 300.000,000 or 3: ASSETS MANY MILLIONS. | “Industrial conditions still re 000.000 rubles ($150.000.000 or $17 NG, Mich.. March 28, Total [so fabettus s toiboins St o 000.000). But M. Litvinov has de asscts of $384.354941.65, December | duction of coal during the last week | Taanne 120000 00 gy Fes within six 31, 1920, are shown in the annual re- | Of less than 7.000.000 tons. Slight | 000 000) worth of foreign soeds 1t s port of the ¥ord Moter Company DProduction recovery was to be moted | therefore. evident that the gold which p ""Y |in spots. but on the whole there is|remains will soon be spent filed here. Cash on hand. including | no tendency to speed up the output.| ~The Anglo-bolsheviat —treats s deposits in banks, is given as $13.- [because there is no real market in{simply one more proof that any inter 4451, and the value of creditsany part of the United States today. |national agreement, however laudabie owing to the company is placeq at| 'SPot buying is at the minimum in|in itself, is injurious to Russia so $54.498.633.50 Liabilities — of the |31l markets. whether it be for do-|long as the soviets remain in power. oy Son unsecured indebtedness | mestic or steam consumption. Imme- | bringing about the nation's ruin and are shown as $143.025,300.61. The | Giate export business is also dead. so|humiliation. A port Ehows that 93.321 shares of | that mines are closing down in every e the In Queen Elizabeth's reign a tax Henry Ford. 71.911 by Edsel Ford. basis. company's stock are owned by |fleld, and those that are operating B Ford | are doing 0 on a two to three day | had to be paid on every beard of over fortnight’ For Bathing and Massage ALCORUB is the same pure alcohol you used to buy for bathing and v massage, with no poisonous, irritating additions. It has all the anti- \ septicproperties of aloohol, combirred with softening and curative agents that make ALCORUB most soothing and invigorating for the skin. Non-Slip Bottle with the An zalcohol rub, beforz Prohibition went into effect, was a part of the daily lifc of many people. After bathing or exercising, the cool, refreshing sensation was enjoyed by the persons who wished to keep their fiesh in the pink Since Prohibition has been in force, however, all alcohol Thio mekes the former users of " alcohol for bathing and massage hesitate to use medicated alcohol, eapecially as they find that the medication produces an irritating, drying, burning and itching effect on the skin. You can now go to your druggist or toilet counter, and purchase a bottle of ALCORUB, and again experience the pleasant, invigora- tingsensationof aszfealcohol rub. ALCORUB is U. S. P. alcohol combined with softening and cur- has been medicated with poisonous ingredients; in fact, a big red poison labelisqneverybotfle. ative principles which make it ideal for the skin, and is non- poisonous and non-drinkable. It is equally good for ‘bathing children, invalids and athletes. Go to your druggist or toilet counter today, and get a full pint (16 o0z.) botsle for $1.00. Note to Physicians ALCORUBIs 73% U.S. P. 95% Alcohol, combined with U. 8. P. ingredients which make it sooth- ing and invigorating for the skin. Safety Points Approved by Physicians, Nurses and Pharmacists —Never sold in bulk. ~—No prescription, no “red taps,” no trouble to buy. ~—Guaranteed by usunder the National , . Food and Drugs Act. ==All ingredients are of U. 8. Pharme- «~Noo-poisonous, Nan-drinkable, —Contains no Formaldekyde, Carbolic Acid, Bichloride of Mercury, Hydgo- ehleris Acid, Wood Alcohol, Creosal or other polsoncus ingrediente. —Does ot irritese the ekin or znds. ~Full pint (16 oz3.) for a dollas. ¥ U. s. Industrial Alcohol Co. * Largest Producer in the World NEW YORK CHICAGO PRILADELPHIA . BOSTON CLEVELAND ST. LOUTS BALTIMORB NEW ORLEANS PITTSBURGH DETROIT CINCINNATL ST. PAUL . v