Evening Star Newspaper, April 16, 1921, Page 16

WASHINGTON, D. C., SATURDAY, APRIL 16, 1921—PART ABRUPT CHANGE IN FINANCIAL SENTIMENT FEATURES MARKET Shift i; British Labor Situation and Im- proved Local Conditions Are Lifting Factors in Stock Trading. BY STUART P. WEST. (Copyright, 1021, by The Washington Star.) Correspondence of The Star. NEW YORK, April 16.—Seldom has there been so abrupt a change in financial sentiment as that which oc- curred_between the close of business on Thursday last and the opening Friday. Wall street went home on Thursday night convinced: that there Wwas to be a tremendous industrial war in England which would react on trade all over the world, that the plight of the railroads was desper- ate and that the steel trade outlook was. dubious. It came down Friday morning to-find that the triple alli- ance among the great British labor unions had split completely, that the railway and transport werkers had revoked their strike orders and that the miners were left to play a lone hand with what prospect of success was not hard to imagine. It came dowp. also with the sur- prising intélligence that the labor board had acted far ahead of the ex- Ppected time upon the question of ab- rogating the national wage asree- ments on the railroads. and that it had made a decision which imme- diately brightened in a most positive way the chances for a satisfactory agreement upon wage reductions, and with this the whole status of railway investments. Three Considerations Involved. The entire interest of the financial week centered upon this overnight transformation. There had previous- 1y been three comsiderations tending to depress the security markets—first, the threatened British industrial tie- up; second. the railway wage prob- lem. and third, the uncertainty as to whether the lower price schedule put; into effect by the Steel Corporation would acomplish its purpose of stim- ulating business. _Suddenly. of these three restraints, one was completely removed, the second was placed in a fair way to removal, leaving only the third. which, under the new and bet- ter sentiment. no longer seemed as formidable as it had. The preponder- @nce of opinion in the steel trade at the close of the week is hopeful of a revival after a brief wait to allow consumers to' get used to the new price scales and satisfy themselves that these are going to hold Past experience has taught that these waiting periods usually last a fort- night to a month, that the ice is then broken by same ofie branch of the steel industry—in- this case it might easily prove to be the users of struc- tural steel—and that. seeing this one leader begin to place orders freely, other branches join in. = - -TUmign Gomtrel Fading. As to the Iabor. board’s decision, the more it is studied the more reassur- ing it is to the managers of the rail- roads .and their security owners. Months ago the vice president of the Pennsylvania ~came out with 'the charge that the railway unions were aiming to get control of the railway systems of the country. and that the national agreements were the chief instruments by which they hoped to accomplish their purpose. By abrogat- ing these agreements a blow has been struck at any:design of- this sort, or anything savoring of the obnoxious Plumb plan of August, 1919. It is a decisive step away from the |idea of centralization leading event- | ually to government ownership. It is |a return of operating conditions to jthe old regime where each company treats with its own employes and can bring to.bear upon the wage con troversy the special conditions in ¥ own particular fleld. Of course, it will not do to be too optimistic and look for a universal settlement of all wage disputes in the near future. But we may expect to see between now and uly 1 one road after another reach- ng an agreement of a compromise nature with its men. The labor ele- ment are told that they must not de- lay in these conferences under penalty of the time before abrogation being shortened. The carriers are warned on their side that dilatory tactics will mean 4 postponement of the abrogation date beyond the 1st of July. The whole inference from the action of the Board is that it proposes to use its influence to expedite a solution of the wage problem through em- ployers and employes getting to- jBether and settling their differences. as it were out of court. This has meant in the past a settlement by compromise under which each side comes down considerably from its maximum demands. Along with the partial reduction in wages thus in- dicated and along also with the re- moval of the burdensome and un- economical provisions of the national agreements. there will be a down- ward revision of rates in line with what everybody from the President down sees to be a necessity. Situation on the Mend. With the railway wage question on the road to adjustment, with the price cuts so long overhanging the steel industry an accomplished fact, with the worst possible railway earn- ings statements a matter of record, and likewise the worst of the quar- terly industrial reports no longer in | doubt many dividend reduc- sings out of the way, Wall street can reasonably feel that the bad news is pretty well exhaust ed. This does not imply an immedi- ate sustained advance, but it does fit in with the indications of the stock market itself that the low prices h been seen and that the situation is on the mend. The continued heavy inflow of for- eign gold—a most remarkable move- ment because it arises from all parts of the world—is a feature of con- stantly increasing importance. It is adding rapidly to bank reserves and is an even more potent factor than loan reduction in driving upward re- serve ratios. There is no idea, of course, that this enormous accession to the country’s gold supply will force the hand of the Federal Re- serve Board, which does not propose to make it easier to get credit until deflation has to its mind been thor- ough. But this much is certain that the reserve ratio of the federal sys- tem cannot go on mounting week by week the way it has been without making the present scale of redis- counts look altogether artificial. Some saw in the reduction of the ;Bo.lon rate on commercial paper to 16 per cent this week a prelude to similar action on a broad scale. This may or may not be a correct infer- ence, but the time in any event for a general lowering of federal reserve rates cannot be much further off. FRENCH ALL 1. 5. |PRESIDENT PRAISED OFFICERS THIEVES| ~BY TALIAN PRESS Chérge Much War Material Invoiced for France Was . Sold by Subordinates. By the Associated Press. PARIS, April 16.—The question of the . liquidation of American war stocks in France again came up yester- day in the discussion in the chamber of deputies. During the debate Deputy Charles Vavasseur, represen- tative of the department of Indre et Loire, charged that American officers submitted the American camps to veritable pillage before turning them oveér to Fréach efficers. “The Americans,” said M. Vavas- seur, ‘had given an undertaking to 1 ‘nothing from their stocks after rch 31, but between that date and August 1, the date of the signing of the contract, the Americans never ceased selling at retail and whole- sale. I do not incriminate the Amer- ican government, but I do accuse the American subordinate officers.” M. Vavasseur said that at one camp. where the invoice called for 72,000 sutomobiles, there were only 34,000 machines when the French took charge. **At one camp.” M. Vavasseur con- tinued, “the French officer sent to take possession was virtually de- tained in barracks while American officers sent away carloads of mate- rials—loaded lorries and entire freight trains. Ode American officer alone sent out more than 1.500 automobiles. “At the Gievres camp alone more than 6,000,000 francs' worth of mer- chandise was pilfered or lost through fictitious Invoices presented for goods.” Emmanuel - Brousse, former under. secretary of finance, intervening in the debate, said: “I called the attention of the French government at the time to the situa- tion, and asked the government to call upon the American government for reimbursement. But nothing was ever done.” M. Vavasseur, continuing, said: “The American stocks were bought for $400.000,000, when the dollar was worth 7 francs. The government is now paying at the rate of 15 francs to the dollar. . The interest zlone amounts to $20.000.000 yearly, which is nearly 300.000.000 francs. for goods @ large percentage of which were never received.” ANNUITY BILL UP-AGAIN. Measure Prohibits Withholding Salary of U. S. Employes. The measure; which Chairman Lehl- bach sought o have passed. in . the closing days of the hibiting any L Congress, pro- officer of the govern- ment from withholding any portion of retirement annuity or salary to gov- ernment employes recalled into the wervice for temporary work, has been reintroduced by Representative Merrill Moores of Indiana. The controller of the currency has! ruled that it was unlawful to pay the annuity and a salary at the same time to any beneficiaries under the retirement act. Representative Ben Johnson of Ken- tucky has reintroduced his bill to re- | peal the charter and lease of the ‘Washington Market Company. Repre- sentative Johnson has been urging this legislation for years. His bill was passed by the House in the last eession of Congress, but wa not reach- ed in the Senate. SENT TO BATTLESHIP. Lieut. Commander George W. Hew- lett has been detached from duty in the office of naval intelligence, Navy Department, and assigned to duty on the new battleship Maryland. Lauds Straightforwardness of Message to Congress. Sees League’s Doom. By the Associated Press. ROME, April 16.—Newspapers of policies announced by President Hard- ing in his message to the United States Congress, and declare it served notice on entente nations, as well as former enemy countries, of the course to be pursued in future by America. “With Mr. Harding's message,” says the Tribune, “political literature re. turns to its just traditions of simple Dprose, clear exposition end precise thought. There is no more theolog- ical and doctrinal language; no more personal omnipotence nor vanity in political superposition nor the_ folly of spiritual domination over® the world. ““The republican party, having ar- rived In the White House. declares lhf pact of the league of nations non- existent without much ceremony. It is not participating in the meetings at Geneva, and proclaims the neces- ulty_ for the United States to build up its military defense, reserving the question of disarmament until all na- tions are ready to follow such a course.” Realties That World Needs. “Thus Mr. Harding abandons the field of the ridiculous and speaks of realities, of which we feel the need.. Mr. Hard- ing’s address is as useful to weak minds as a cold shower to the spinal column, It shows that idealistic adventures pass, while historic_realities remain.” 8 JcoThe Jdea Nazionale declares it wel- comes President Harding's message as a_ ‘“program of American nationalism against Wilsonism.” % Death Sentence to League. “The acclamations occasloned by Mr. Harding’s message to Congress, - ‘:-r» serts the Messaggero, “appear in reality the death sentence of the league of na- tions on the other side of the Atlantic. It is evident that in the absence of the United States the league lacks one of its chief bulwarks, and its existence and force will not be able to continue long without drastic modifications of its plan. The league, as today constituted, is one formed almost exclusively by the allies. The English are predominant, and the chief offices of the league have | Th message of Mr. Wilson's successor es the policy of the United States toward Germany and toward the en- tente. 1t may be defined an admonition. There s no”doubt that Mr. Harding's program may settle important points, not only for America, but also for Eu- | rope.” | WAR HEROES CHANGED. |Historic Portraits Back in Office | of Secretary Weeks. | Secretary Weeks has approved a re- arrangement of the large collection | of historic portraits in his offices at {the War Department. All the world war paintings, including portraits of {Gens. Pershinz, Bliss and Petain and Admiral Benson, which have graced the walls for several months, have heen sent to the Army Staff College |#t Washington barracks. The por- | traits of former Secretaries of War, which were removed to other parts of the War, State and Navy bullding to room for the world war por- ts, have been restored to their for- mer places in Mr. Weeks' offices. For display in his own private office Secretary Weeks has selected oil por- traits of President Washington, Gen. Knox, the first Secretary of War, and Secretary Stanton of civil war fame. The Washington portrait has been in the office of Gen. Pershing since he was installed in the War Department. this city give high praise to the| been assigned to British functionarics. | D. C. Bank’s Mail, . Narrowly Mjsdes Dead Letter Goal Somebody in one of Washing- ton's banks came . very mear sending the institution’s mail to the dead letter office today. If 1t had not been for the vigi- lance of employes at the Wash- ington city post office the letters might have been delayed for weeks and the postal service “cussed out.” v Somebody placed the bank’s mail together in a neat package, wrapped the letters ia manila Paper and sealed the whole with wax. Ordinarily such a parcel re- ceived at the post effice, amd bearing no address or other writing. would be sent to the dead letter office. But something about the pack- age, probably the veéry large quantity of wax used to seal it up, led to the opening of the parcel by postal officialx.” There- in they found the bank's mall, properly addressed and stamped. TAKING OF GANS HALTS THE UPTURN Oils, Gas and Smelting Shares Show Better Strength. BY S. P. WEST. NEW YORK, April 16.—In this morning's briet business period. the markets generally held their gain of yesterday and went ahead a bit fur- ther. There was @nother sharp up- turn in grain options, a perfunctory response at length to the emergency tariff measure. Sterling exchange and cotton options moving as usual together, and both reflecting the prospect of an early defeat for the British miners, now that they are left alone in the fleld, added moder- ately to the improvement of the pre- vious day. Stocks opened up rather sharply, as a rule, then ran into a heavy profit- taking, which was quite natural after such a rise as yesterday's. This sell- ing, after the first hour, checked the forward tendency and brought about some shading of prices with a return to_comparative dullness. Railway shares had done most of the responding to the welcome news of the abrogation of the national wage agreements . Some of them went higher at the outset. but in the later trading the disposition was plain to await de- velopments, first, as regards the pro- posed revision of rate schedules; sec- ond, as to the outcome of the wage conferences on individual roads, about to be resumed in compliance with the order of the labor board. Oils and Smelters Firmer. There was another upturn in the Michigan oils, and American Smelting was strong in consequence of reports that fts Mexican plants were starting up again. All the copper group were noticeably firm. Shares of elegtric companies were in demand and so were the gas stocks under the lead of People’s Gas of Chi- cago. Attention was drawn several days ago to the fact that the earnings of this company under the $L15 rate, and with its reduced labor and, fuel costs, will be a very cifferent story this year from what they have been for the last few years. that they will ap- proximate the earnings of the old time, when People's Gas was rated as a standard dividend payer. Cosden Ofl Higher. Cosden Oil responded immediately to the favorable report put out by the company this morning,. covering the 1920 period. Cosden, showed mnet profits after all charges and federal taxes of $13,562,107. The gross in- come for the year was close to sixty million dollars. The amount put into surplus, after payment; Rt $2.230,359 for dividends, was over-$11.000,000. Cosden is one of the high-class minor oils and officials claim it has one of the best refineries in the south- west. An announcement of a favora- ble nature is expected in the near fu- ture. Auto Aecessories Gain, The turn for the better which has come in the automobile trade has been of much benefit to the makers of automobile parts and accessories, according to reports now being made by these companies. One report, which has come to hand, covering the first quarter of thi year, ip that of the Spicer Mamifac- turing Company, which makes uni versal joints, frames and axles. Spicer reports that it did $750,000 of busi- ness in March, as compared with $500,000 in_Febrdary and $250,000 in January. The figures for March show the company. operating at the rate of $9,000,000 sales for the current.year, as compared with a volume in 1920 of approximately $18,000,000. —_— PLANS DIRIGIBLE FLIGHTS. Navy Department Getting ZR-2 ‘Ready for Long-Distance Trips. Long-distance flights that will cover practically every section of the country are being planned by the Navy Depart- ment with the big dirigible ZR-2, which is now nearing completion in England and which is expected to arrive in the TUnited States early in July. The flights will be Iargely experi- mental to determine the feasibility of the use of rigid airships for commercial Your Choice of a. 3ord i Bedroom and Bath, ‘ i Attic and Wide Porches One-half block from 14th St. Cars SAMPLE HOUSES 7329 and 1333 Tavlor St. NW, l Take any l4th St. car to i Taylor St. and walk one-half 1 square to sample house. Easy Terms Open and lighted antil 9 pm. i For Sale By ! Thomas A. Jameson f}' 906 New York Ave. N.W. il Matm 5526 || Ask the Man Who Owns One ! WEEK BRINGS CLEARING SKIES OVER THE FIELD OF INDUSTRY' Dispatches From Every "Section of the Country Tell Story of Improve- ment, Slow But Certain. (Dispatches marking the progress of the defiation and readjustment process in business throughout the country, giving the conclusions of #pecial correspondents who have been inatructed to present conditions and indications as they really exist, are printed daily in The Star.) (Copyright, 1921, by The Star.) Facts, rather than hope, seem un- mistably to point the way to better times in a future almost immediate. The week now ending has brought clearing skies over the field of in- dustry; the coming week will witness still further improvement. Business has quit hurrahing for better times and gone to work in earnest to bring them about . No week since the beginning of our economic crisis has been 8o crowded with tonic incidents. Dis- patches from every section of the country within the past twenty-four hours tell virtually the same story of improvement, slow but certain. Here in Washington officials from President Harding down. have noted with gratification. the trend toward revived prosperity. Message the Keynote. Indeed, the President in his message to Congress sounded an industrial keynote whose vibrations have struck responsive chords throughout the na- tion. Business was walting to hear the first word from the new occupant of the White House. Having heard with apparent satisfaction, business seems to have gone about its busi- ness with heartened efforts. Its ver- dict seems to be that the word Was good: that the President has not changed his campaign slogan of “less government in business and more business in government.” New York answered immediately with the most important industrial change within two years—a reduction in prices by the United States Steel Corporation. By that single incident industry received a transfusion of new blood in its veins. The effect of the cut, it is believed, will be so far- reaching and so beneficial that the entire body industrial will pick up health for months to come. Rail Labor Board Action. At Chicago the Railroad Labor Board a few days later almost dra- matically reinforced the drive to bet- ter times by abrogation of the nation- al agreements between the railroads and their men. The carriers claimed the agreements wer. osting them $1 $ “Virginia Highlands” Homes Financed Lots $175t0 $300 Running water, electric lights, 12 minutes to center of city, one car fare. Take car at 12th and Pa. Ave. for “Highlands.” Agents on grounds all day Sunday and every day thereafter. Geo. Wedderburn Henry B. Terrett 631 Pa. Ave. Phone Main 2090 $1,000 CASH Balance Monthly 4 Bedrooms and Bath Large Porches One Block to 14th St. Cars Sample House 5521 13th St. N.W. Per Month Down and Take any 14th St. car to house. Open and Lighte Until 9 O’Clock D. J. DUNIGAN Main 1267 1321 New York Ave. £250,000,000 to $300.000.000 a year; 1f 80, the brakes wero off. Here at Washington. repre tives of the twelve federal r banks met, counseled and took inven- tory. They found the country's finances mended and healthful, the banks in a stronger position than they have been for nearly two years and confidence in the future uni- .versal. On the eastern seaboard. Roston re- ported conviction that the worst had passed and that slow recovery had n. Building Problem. Philadelphia has a buildinz con- struction problem on its hands with workmen preparing to declare th. wage schedules on May 1 for the coming year. The textile strike con- tinues’ there also, causing a slow down. Pittsburgh, heart of the steel industry, anticipates stabilization her basic interests through the cut by the steel corporation. Chic heart from President Harding's dec laration that railroad rates must com down. Prices continued to fall, bu ness supplies were low, indicating a need for replenishment soon, and pur- chasing continued light. Detroit is coming back almost as fast as the speed laws allow automotive industries are in splendid shape. A big season seu to be ahead for the automobi ufacturers. Leaders Marking Time. Business leaders in Cleveland, marking time, count with apparent reason on a big improvement in th, last half of-the year. s City reported prospects for big crops, with resultant decreased prices, but a hold- over, nevertheless, of much 1 grain on farms. St. Paul has spen such an improvement in business that it noticeable to the rank and file. The Georgia peach is on way, 0 took | in bountiful mesure, and, as a result.|good knowledge of sports to handle| properly a customer interested in any one of them. The average store sales- in charge of golf Rood knows nothing of the balance or “feel or “whippy"” Atlanta looks for better business In that section. Southern bankers and business interests have halled with delight the War Finance Corpora- tion’s action in financing a $2.000.000 shipment of cotton to Kurope. New | Orleans looks with confidence toward | a tarifft on sugar, and, as a conse- }'mmm\. better_ business. St. Louls finds f{hat there is a well deflned limprovement in the jobbing lines. Brighter on Pacific Coast. Pacific coast points, generally the last to feel the effects of a general 1 are noting the signs s revi ter times. the coming For week there are & ovents which on industry. The emergency tarift ideration of & new adows of approach mark the ke thelr actment of | business normal— bly N in CN Board to ~ Railroad La- bor y will decide the first of the railroad wage-cut cases. The impor s of 1 fon can hardiy be overstated. | BUSINESS NOTES. I NEW YORK, Apr is not time to sit and wait for business. iness to be had. but t for. according to retary of the Inter- t Manufacturers’ As- he said to- ness men rembers of our association in Buffalo, Cincinnati, Cleve- other centers, good business now in to the general prevailing They are doing it through & ation of their established repu- j duline combi tation for honesty and fair dealing and confidence in their own state- ments and prices to the customers. They have all made keen s their own b have readjusted es to the new level and are their merchandise on its ac- thel ling jtual value and its merits.” | = | CHICAGC —The very 'val- been made by a known professional.golfer that rtment stor could largely in- their sales of sporting goods would put in charge of these tions salesmen who knew some- {thing of the sports themselves. Sell- ing of such goods, it is declared, is | more of scialty than managers of lthe big 2 It requires a is founded on Truth, properly handled. “Maximum Service.” 1405 ~Ey ‘Washington—the Mont “Livable” City in America he Force of “Truth” Is Overwhelm-| ingly Successful —Salesmanship founded on the basis of Facts not only makes quick, satisfactory deals, but the after- math means more clients for us. Your property is salable at its price, if it is One wastes time and money if he puts up with indifferent Real Estate Service. Employ Real Estate mfi...M"KEEVERdeO s Members Washington Real Estate Board “Maximum Service” e Street. NW. FOR IMMEDIATE SALE Houses in the Following Sections: Bloomingdale Woodridge Brookland List Your “Properties for Sale’ With Gardiner & Dent, Ine. 717 14th St. N Phone Main 4884 W. open fireplace; din pantry. ground. Sales Dept. | ] North | man. put of wooden club not know a Stiff one, on a club. nor the made to market braids made in importers on a co-operative basis similar to that followed = by the date. Kansas Most and Benefl of the territory so0il being too dry sian fly is till o nah In the firs Briefly, he could be of no as- sistance whatever in helping the cus- tomer to what he wanted. NEW YORK. April 16.—The millinery trade here is interested in p ,in apan. the product have been r city for the examination of American and manufacturers. braid is made by an association of manufacturers who are marketing it Growers' Association. e s OUTLOOK FOR WHEAT. cannot be fully determined at this complaints _come Tllinots. condition of the crop remains good al rains have fallen over most and bug activity is on the wane, but Hes- in stage. Seeding of spring wheat in the northwest is earlier than usual and some decrease in acreage is indicat- — The Georgla Federation of Business and Professional Women's Clubs will hold a two-day convention in Savan- week of May. Apartments to Let! The Chastleton Inspect Through R Street Entrance The F. H. Smith Company 815 Fifteenth Street N.W. SALES GD HAND-IN-HAND - WITH DISTURBING | o April 16.—Liqu! e by holders of grain ani provisions-has gone hand-in-Mgnd this week with. disturbing econofhic ad- vices, espéclally from Grest Britain Compared with a Week ago| wheat this morning showed a setback rang- ing from '3 cents to 11% centa a ¢ bushel Corn down 3% cents ons. He would shaft from a meaning of loft s being ; wai A e |and 3% certs to 3% cents, hiols; PN ol cents fo 13 cents o 1% cm ' provisions lea nts to 76 cents. receipts of wheat .H i The a mary points indicating an ‘o movement from first hands gave spa- clal impetus 10 the downward swing California Fruit |°f Prices in connection with the British labor crisis. It was aaid also that exporters were trying to resell, and that Canadian wheat was dalng rushed into the United States to fore-. e s il the proposed emergenc I8 CHICAGO. April 16.—"In several | Meanwhile such bulllsh factocs oy o™ sections of the belt,” savs the Mod- |Serious drought in Rumania, ' Humb- orn Miiler, “winter wheat recently |gary and the Balkans wers alshast. frozen back is not responding to pletely tgnored. MISgivings wihieh Erowing weather as readily as ex-|weore expressed that freezing tem pected, and the cxtent of damage |peratures had injured the domestic crop failed likewise to attract much r notice. 1t was only after values had fallen to the lowest level since 1913 / that liquidation gave evidence of having largely spent its force. Later. the market was rallied somewhat by word that railway men and trans-. port workers in Great Britain would remain at their posts. e Corn and oats showed rather stub- born resistance to seiling pressure, * but finally receded with wheat. ' Lower quotations on hogs and grain had a depressing effect on provisions. = " from Reneral The complaints of are few. Green its development Peggy Hyland's first “stunt™ for the moving pictures was to dive into the Thames on a cold February day. Sixteenth Street at R New Portion Now Ready Managing Agent Floor Plans on Request under a tree for another night’s I good, faithful steed, but he gets rheumatism in his . universal joints from exposure to the night air. it's a swell room with private bath and all modern conveniences for Hen (Says Bill the - Builder) —and I’l be gumswizzled if I’ll park Henry = odging. Henryisa - ry, and I saved the pri. : of two new tires and a wash and, polish, because I bought my lumber from GALLIHER & HUGUELY Sherman Ave. & W St. N.W. 486 o] —=c|c—|0|—c0|——o|——|c FIRST FLOOR: Large living room with | ing room, kitchen and SECOND FLOOR: Four large bedrooms and bath. Extra lavatory. All modern improvements. Two acres of I FACING ON BRADLEY BOULEVARD Open for Inspection All Day Sunday FIRST FLOOR : Reception hall, parlor, sun parlor, dining room, kitchen and pantry; two bedrooms and bath. SECOND This bungalow contains all modern provements. IMMEDIATE POSSESSION WILL BE GIVEN OF THESE HOMES TO INSPECT: Take Wisconsin Avenue Car Line to Bradley Lane Representative will meet you Sunday at car line from 10 am. to 5 pm. HARRY WARDMAN 1430 K Street N.W. Telephone Main 4190 North 487 LUMBER IR FLOOR: Two bedrooms. im- One acre of ground. Sales Dept.