Evening Star Newspaper, April 29, 1921, Page 30

e ) 30 U. S. STABILITY UPHELD. Beveridge Says Changes Should Not Be Lightly Made. NORFOLK, Va., April 29.—Predict- ing that the next ten years will see another attack on the constitutional | power of the courts to_declare acts of legislatures unconsfTtutional, as enunciated by John Marshall, former Senator Albert J. Beveridge express- ed the convictoin that American insti- tutions should not be lightly changed or quickly altered. Mr. Beveridge delivered the annual address before Virginia State Bar A lnc|al|on BIG Q. LOAN A SUCCESS. NEW YORK, April 20.—J. P. Mor- gan & Co, and the first National Bank, acting as syndicate raanagers. have informed participants in the Chicago, Burlington and Quincy rail- road financing that subscriptions to the $230,000,000 bond issue will close at noon tomerrow. This bespeaks the success of that offering, the largest | domestic financlal undertaking since the close of the war. _— FOREIGN EXCHANGE. Quotations furnished by W. B. Hibbs & Co. , Selling checks: Dollar value— “It is a tremendous fact.’ Budapest Total deposits, 3, | that in a world of present uphe Prague . Federal reserve motes in actual cir- and approaching chaos, our American A | culation, $741.549,950. institutilons are today functioning Christiania. . Ratio of total ‘reserves to deposit | (; more steadily and our government is Stockholm jand federal roH(‘rh note liabilities more st ahlo":h.m t:';‘ “flhar:xcfl;)?,;r Amsterdam | : combined, 55.5 per cent. country in the worl - sible; exception of J LEAF TOBACCO MARKET. | | “BALTIMORE. April 20—For the| past week receipts on the market | ® ganization make possible the prompt and satisfactory handling of all business en- trusted to it. ) 2% paid on Che€hing and 3% on Savings Ac ounts UNION OF THE DISTRICT OF COLUMBIA Cor.15th and H Sts., Northwest EDWARD J. STELLWACEN. PRESIDENT WONDER CLOTHES BEST VALUE IN AMERICA-- WHAT FORMER PRICES WERE MEANS NOTHING TODAY suit I WANT AND NEED TODAY What you are interested in is, “what will the ||; COST?’ ’ ! ‘WE have the Suit you want in the style you want and in your SIZE—at the PRICE YOU WILLGLADLY PAY. We have men’s and young men’s WON- DER Suits of tested worsteds, cassimeres, flan- nels and the new pencil stripes. Suits that are worth_and priced elsewhere $30 and $35 HERE ! $1975 In blue serges, worsteds and the NEAT HERRINGBONES — Finest ALL- WOOL FABRICS—every one. Suits that are worth and priced elsewhere at $40and $45 HERE 247> HOW CAN WE SELL FOR SO MUCH LESS A very natural question and very simple an- swer—WONDER Clothes are sold DIRECT TO YOU BY THE MAKER. WE SELL FOR CASH ONLY—NO credit or charge accounts for you to make good for. OUR VOLUME OF BUSINESS is the largest in America—that lessens unit sale ex- pense. Our actual net margin of profit IS CONSID- ERABLY LESS THAN ELSEWHERE; THAT'S WHY WONDER CLOTHES COST YOU LESS. TWO STORES IN WASHINGTON 14th and New York Ave. 621 Penn. Ave. THE EVE \h“’ YORK' RE: W YORK, Apr mcnt of condition of the federal re- serve bank of New York at the close of business April Total gold reserve: Total rescrves, $7. Total earning asse Uncollected items, Due to members: Reserve account, s $6° were 21§ hogshea totaled 495 hogsheads, part of which were old crop. 10 Cans Due 13-0z. Can Ready Prepared COCOA, 124c Can 20 Cans for . ..$2.25 10,000 0. D. ALL-WOOL BLANKETS NING ERVE BANK. ! TURB STOZKS. il 29.—The state- l Quotations furnished by W. Lxplosives ... A 78| Qlied (m " 35.216. | . Bills dfscounted sccured by govern- | r\"""’ Y 3 nfent war obligations | e B % 510 For members, $313,659,444. 1% 1% All other: For members, $253,742.318. e Bills bought in open market, 828,687, Total bills on hand. § ts, § $114, f.h ds, while sales Federal oil | Gittilana i u -, to foreign de- | Y% CONVENIENT LmATIoN mand, prices held firm at last week's 515 advance for all Holland grades. 143 > Prices per 10;10 )Yfiund:i: Inferior and ';"‘l/. . rosted, 3.00a5.0 und common, 6.00 L. is but one of the many advantages character- 410.00; fzood common, 11.00417.001 me.- | Heriied e G s . dium, 17°00a57.00¢ good o fine. red, | Inan T S izing the service offered by the UNION 28.00a40.00; fancy, 40.00 and over: |Iniercontiental Gubher oo 1L 11 seconds. common to momum 008§ e 2 "4 (4 TRUST COMPANY. 17.00; do., good to fine. 18.00a30.00; | Kay Counts tas 1 1% ground leaves, 2.00a23.00; u]rner coun | Lake Torpedo . % 11 try nominal. Lehigh Coal and ;r: 2 ogege B Sta 2 Its modern quarters, complete facilities, in - warehouses: ‘ifi‘r.,gl...',. B s R - 3 . Magma 4""“"? 21 s up-to-the-minute equipment and efficient or- aib U™ eads. l% 11091/2 H St. Northeast SPECIALS FOR SATURDAY AND MONDAY PURCHASED FROM THE U. S. 3,000 for ...$1.15 STAR, WASHINGTON, RAINCOATS, $1.50 1921. Merritt_0il Midwest Ol Midwest Ol pfd. Midwest Refining . Nevada Ophir . New Cornelia . sbarital Traction ST S000 at sty 500 at 500 at BRL; S1.O00 at 881, B pital Toctiont 10, st s 10 at issing Mines Washington ay PId.—i0 at 61, 10 at th Amer. F. ai 81, 10 at 61. 5 at 61 ; thwostern O Lanston Monotype—10 at 77%, 10 at 771, (!:l:‘;:‘r"kli(‘l."(newi 5 at 7714, 15 at % AFTER CALL. Washington Gas 35—$1,000 at Bid and Asked Prices BONDS PUBLIC UTILITIES, American Tel. and Teiga. 4s. Americ Am. T Perfection Tire Producers and Ttefiners. i Creck Prodncing. Areek (new). Asked. 7 101 Anacostia and Potomac ‘Anacostia and Pot i | Chexapenke and Poton Capital Traction R. R. bs. City_and Suburban’ 3s Swirt International Tonopah Divide . Tonopah Extension . lnmd Eastern . 5. 8. Light and Ies |1 & Lighe vma Heat United Profit Sharing. U. 8. Steamship, United Retail Ca United Texas . Warren Bros. . Waslang oil Wash. Tewy. and Flec MISCELLA EOUS. Riges Realty ort) . Washington Market 5s (1927). Washington Market 5s (1947).. STOCKS PUBLIC UTILITIES o Armonr ptd. Cudahy FPacki Amrrlfln Tel. and lmon Carbide ‘Lx‘dlv. 14. —_— ol Flec. pfa. Snakes of the viper tribe have their | Wshinston-Virglnla My, rfd. poison fangs channeled so that the | American s 180 (‘olumbl. poison is conveyed to the deevest part of,_the wound. coln KGonat Metropoirtan - Itiges .. Second . ‘Washingt Continental, Trust 110 National Sdvings ai 285 Unlon Trust Gommerce and S East W Merchant Security Savings abd Commercial 1 Seventh Street Savings. Arlington Corcoran Firemen's German-American National Union . TITLE Columbia Title . Real Estate Titl MISCELLANEOUS. Columbia. Graphophone com. Columbi: f‘hnphone 14 D. C. P pu fg. Co Merch D Bater and Siorage 100 Mergenthaler Linotype. . 119% 0ld Dutch Market pfd. Lanston Monotype Security Storage . Washington Market *Ex-dividend. —_ OIL STOCKS. GOV'T. Men’s Reclaimed Army Purchased from Uncle Sam Marvelous Values—Perfect: ' rnished by W. B. Hibbs & Co. Quotations fu ¥ e S Anglo-American Oil Co. (new).. 18% 1 NEW ARMY AND NAVY Atlantic Refining Co. 210507 1150 Borne-Scrymser_Co. W 390 Buckeye Pipe Line Co. 8215 831 SHOES e . Continental Oil Co. s 145 $2.25- $5.45 2 Finest Quality—Great Values All Sizes—Black and Mahogany ,Zi 281, 2-1b. Cans Roast Beef ............18c| Officers’ Raincoats .............$4.95 Nerthern Pi k] Sardines, in can (in oil) ..........5¢c| New Lee Unionalls ............$3.00 ?2";;_;’,%“‘,3,,,“‘“,, B & 6-1b Cans Pumpkin. .. .... .25¢c | Summer Underwear (new) 50c Praine Gil tag dus oo gl0 20 1-1b. Can Corned Beef Huh veees..17c | New Silk Floss Mattresses .... Sotar Refning Co.. Tas 4 New Iron Cots ................$3.50 | New Silk Floss Pillows .. fl';‘.‘.‘.{'.'?‘mfi'"finuc'.’f ® : 2:’3 2% Fine Orange Pekoe Tea ......25c Ib. | Khaki Pants ............. mg:,:;'ggf‘t,, %'.’g‘fl"” 7 3:7'% = Standard ndiana. 1% 8-1b. Can “Delmonte” Apn'cot Iam, 75¢ Standard Ol & Romvaciy i e Army and Bilmi O 5 T g i/ ?}nl‘on Tlnk‘u‘l:!ne 10.': 110 astiNeTon SAIVAGE (F B == £ & bo Washington Oil Co. 28 32 933 303-5 Largest Distributors of Army and Navy Goods South of New York 73 . BOTH STORES OPEN SATURDAY UNTIL 10 O'CLOCK New and’ 5th Street N.W. 10th Street N.W. 11094 H Street N.E. The Triumphant New CENTURY Is Now On The News-stands F you have not seen this new and greater magazine, stop at the news-stand today and ask for the May CENTURY. It is the most distinctive magazine on the stands. The heavy rich brown cover with gold stamping is a relief. The entire magazine is beautifully illustrated and printed. But it is the contents that surprise and delight the appreciative reader. A reading section of 160 pages with a wealth of stories, articles and essays by CENTU The Century Magazine was founded by Dr. J. G. Holland and Roswell Smith in 1869. For more than 50 years it has been the leading monthly periodical of America. Its contributors have included nearly all the leading writers of the half century. But never in its history has this leadership been so marked as now—never before, has its contributors numbered so many of the foremost authors of the day. This brief summary of May contents is illuminating. The front- ispiece is a beautiful color-tone portrait of John S. Sargent, engraved for the Century by Davison. THE POST-MORTEM MURDER By Sinclair Lewis An exceptmna]ly stirring short story by the author of “Main Street.” AT HOME IN THE MODERN WORLD By Sir Gilbert Murray A thoughtful article by one of Britain’s foremost scholars and novelists. It discusses some of the biggest problems that engross the world today. THE LATEST THING By Alexander Black An essay by the author of “The Great Desire” which created a literary sensation last year, and whose novel “The Seventh Angel” is just off the press. TO THE STARS By Anzia Yezierska A human, self-story by this remarkable young writer to whom many critics gave first place in the fiction of 1920. Splendidly illustrated. Travel Articles by Harry Franck and Charles Hanson Town: “The Tide of Affairs” E Speech” by Herbert Adams Gibbon: by the Editor of CENTURY. Glenn this most remarkable magazine. The May where at 50c per copy. It has achieved an magazine of the month. Snblmpfionl at COMPANY, Publishers, 353 Fourth A Reclaimed 1348 U Street N.W. 3052 M Street N.W. snue, New Yo 50 cents—at all Newsdealers —_— FILIPINO SENDS APOLOGY. “dmll,l) MANILA, P. L, April 29.—Manuel o Quezon, president of the Philippine (George- senate, has sent a written apology to town) Justice Elias Finley Johnson for criticisms made against Judge John- |son on the floor of the senate here |on two occaslons last December. Expressing regrets, Quezon said he was glad to withdraw the eriticisms which he had made in the belief that Judge Johnson had arrainged the ad- ministration of the former governor general, Francis Burton Harrison. P notable writers. Superb illustrations by tal- ented artists. Poems of literary quality. The May CENTURY is the first revelation of a new idea in magazine publishing. That idea is, briefly, to produce a magazine that for literary and artistic value, vitality and humanity shall surpass anything ever at- tempted before. How well this has been . acconiplished you shall judge. Ask your news-dealer today for R.Y/ér 1ay THE TROUBLESOHENESS OF BULBULS By Edward A. Morphy A fascinating essay-story of lnthan Jungles, ‘wonder- fully illustrated. THE CRYSTAL HEART By Phyllis Bottome Part One of a new serial by the author of “The Dark Tower.” Beautifully illustrated. JULIUS CAESAR'S STENOGRAPHER ] y John R. Gregg 1t will be su?nsmg that shorthand was used to re- port “The Sermon on the Mount,” ‘“Caesar’s Commentaries,” “Cicero’s Orations,” and “Martin Luther’s Sermons.” The aythor is the inventor of a well-known system of shorthand. Quaint illustrations, THE HAIRS OF THE OCCASION By James Mahone; A :hmmcul French story with good fun and swift action. BRITON BLOOD AND GIPSY INSTINCT By Charmian London The opening chapter of Jack London’s Biography, written by his wife. THE MENACE OF MIGRATING PEOPLES dward Alsworth rth Re A brilliant nugy of an important y.r:).blem and also a most fascinating story. % I WALK WlTH A PRINCESS By Frederick O’Bri A'charming fact-story of tfia South Seas, by the author of “White Shadows.” Superb illustrations, “Mr. Lansing’s Plain Forum conducted and a number of delightful poems CENTURY is for sale mnh-le: -::cl::.- unprecedented sale. It is the most talked-of $5 per ynrk-y be sent to THE CENTURY Washington Stock Exchange REDUCTION IN RANKS OF IDLE FEATURES ST. J Sales and Shipments S Conditions in Other Sections. (Dispatches marking the progress of 82, | the deflation and readjustment process in business throughout the country, ®iving the conclusions of special cor- rexpondents who have been instructed to present conditions and indica an they really exist, printed in The Star.) | BY J. VION PAPIN. Special Dispateh to The Star. ST. LOUIS, April 29.—Symptoms of improvement in general business are not lacking in this district. The principal item of hopefulness during the past week or ten days hasbeena | slight shrinkage in the number of | unemployed. The big shoe, runuv} ture, chemical, clothing and wooden- | ware plants have taken on addition- | al operatives, and the products of these factorics are moving in good | shape. No forward buying to speak | of has developed, but the volume of | hand-to-mouth business is of suffi- | cient size to make it clear that the | public is in need of goods and n-‘ filling its wants. The shoe interests report an urgent demand for fancy stock and wom- | en’s and children's wear, and factor- ies turning out such goods are run- ning at capacity. For the first time in many months furniture in car lots is moving. The grocery trade re- ports that the turning point has been reached, sales and shipments show- ing a steady increase. The flour business has not undergone any im- provement, which fact millers attrib- ute mainly to the zrratic fluctuations of the wheat market during the past tew weeks. Flour Buyers Upset. Declines in grain prices completely upset the psychology of flour buyers. who immediately attempt to cancel orders. The export demand is better to the extent that foreign countries need flour and want to buy, but are not able to convince American mill- ers of the soundness of their finan- cial arrangements. This is true of Cuba and the Latin American repub- lics generally. Those countries are consuming barely half of their nor- mal amount of breadstuffs, judging from what they are taking at present from the middle west. Bread prices in some southern cities have been slightly reduced, but remain stationary here. Spring agri- cultural operations have suffered a serious setback because of deluges of rain over the principal farming sections. Overabundant Rainfall. Fields are soaked and roads are heavy and impassable. There are reports of the necessity for re-seed- ing because of washouts. The over- abundant moisture is aiso affecting lumber production, Wwoods in ' the soft pine of Arkansas, Mississippi and Louisiana being flooded. Despite con- ditions of unemployment, savings continue to increase, the total of all banks in St. Louis on April 1 being $2,451,606, or 3.15 per cent greater than on January 1. Other signs of thrift are the heavy purchases of liberty bonds and fur- ther gains in writings by life in- surance companies. The financial and banking position has undergone no change worthy of note. In the cot- ton sections some liquidation has taken place, but not enough to be- stir any enthusiasm. Move to Cut Money Rate Fans Optimism in Atlanta BY RALPH SMITH. Special Dispatch to The Star. ATLANTA, April 29.—The impres- sion prevails throughout the south- east that the directors of the Atlanta federal reserve bank, meeting here today, may initiate a move to reduce the discount rates on commercial paper. Under the law, the initiative respecting rates rests with the bank | directors, but such initiative is sub- ject to “review and determination” by the Federal Reserve Board at Washington. B hese sifcumstances, no Inkling as to action by the directors will be- come known until the announcement comes from Washington a week or ten days hence. The subject is taboo by the directors, who decline even to admit_that discount rates were considered. But the impression that the dis- count rate may be lowered N had an unmistakable psychological effect in banking and business circles throughout the gjxth federal reserve district. Predominates All Lines. The belief that lower rates are in sight has improved the mental atti- tude and accounts in part for a spirit of optimism that predominates in all lines of commercial, industrial and agricultural activity. The present discount rate is 7 per cent on com- mercial, industrial and agricultural paper and 5% per cent on govern- ment . securities. : As a matter of fact, a reduction in the discount rates will prove of little or no practical value in “cheapening money” to the borrower, but affirma- tive action by the directors of the Atlanta_bank, subsequently approved by the board at Washington, will be accepted by the public as concrete evidence that the upward trend in| conditions is mnder way. H Michigan Trade Prospect Is Brightened by Surveys BY PHIL S. HANNA. | Special Dispatch to The Star. ! DETROIT. Mich., April 29.—Pontiac is the bright spot this week in the Michigan constellation of industrial centers, as evidenced by the Pontiac Ciearing house report,” just issued, which shows a reversal in the trend of bank clearings for the first time since last fall, and further brightness is added by the report of a building survey of Oakland county, which s.0ws more than $4,500,000 of con- struction is about to be begun in and around Pontiac. Highway work will take $1,500,000,! 9 victory 4% o 4 | ous here and there. LOUIS REVIV AL} how Stea&y Increase. 3 improvements about 31,000~ 000 and construction of several new gOIf courses will cost $600,000. In Detroit the “secondary reaction® theorist is making himself conspicu< He will tell youy that by July 1 all of the autemobile plants ‘will ba closed, but in contrast to this picture is the statement by & committes of Detroit bankers whe spent a day this week making a per- sonal survey of several automobi plants, that the automobile manufad- turing industry is “steadily improving and the outlook is satisfactory to us" Steamboat Outlook Gloomy. Down on the river front there is no hilarity over prospects for steamboat business this season. The Pittsbnreh Steamship Company will not commis- sion more than 40 per cent of i boats. and only class A boats will be started May 1, twenty-one steamers and_twenty-one barges being laid u, A Detroit’ marina reporting agendy says only grain is coming down the lakes and that 15 per cent of the down-bound hoats are without cargo. If the willingness of the Michigan sugar farmer to plant sugar beets is any criterion there will be plenty of sugar next fall. The Michigan Sugar Company has contracted to date near- Iy as many acres as were written year ago ‘and its books are about to be closed for the 1921 season. (on- tracts call for $6 guaranteed per ton, with a graduated advance less than last year, while a year ago the guar- anty was $9 per ton. Both the Michigan and the Conti- nental Sugar companies have about ano half of last year's crop yet un- o Detroit has a plant which produces about one-half of the alkalai cleaning and tanning chemicals of the country, and it is interesting to note, there- fore, how this concern, the J. B. Ford Compay. is finding business. March sales of this company were greater than in March a year ago, and Anr 3 1921, is expected to exceed April, BUSINESS NOTES. ’ PITTSBURGH, April —Dealers in furniture report that the latest cuts in prices have revived trade and d clare this month’s sales will show a large increase. Many new styles in suites are in the stores. Willow and fiber porch, sun-parlor and summer house furniture is in large demand, the early season having stimulated purchases. ] NEW YORK, April 20.—The packh age car idea of freight shipments is rapidly developing. _Through the traffic group of the National Retail Dry Goods Association, announcement has been made of an eastbound pac age car service. This service ates from Chicago, Cleveland, T g do Cincinnati and Indianapolis, m.xing fourth-day deliveries in every case except shipments from Cleveland. Heretofore the package car service idea has been confined to westbound shipments, and from it satisfacto; service is being obtained both by l“e railroads and the stores. One road operating such cars to Cincinnati, Louisville, Nashville and Memphis has so far exceeded the daily mini- mum of 10,000 pounds. panies, bright spots are appearang in the Shenango valley. Sixteen hot n’lllll of the American Sheet and Tin Plate Company’s plant at Farrell will resume Monday. The hot mills of the Mercer plant will resume at the same time. ’ PHILADELPHIA, April 29.—Master builders of this city have formulated a new scale of wages to become ef- fective May 1, and today announced the adoption of a program which in- cludes the following points: 1, reduc- tion of wage scales to natural read- justment following peace, a decrease of 24 per cent under the present scale; 2, the open or closed shop bé- comes a matter of choice to the e ployer; 3, the sympathetic strike plan of the unions, which has been in vogue here for years, must be_ aban- doned in the future. The reduced wages are offered to 65.000 mechanics, most of whom are idle at present. The scale offered is 90 cents an hour for carpenters and $1 an hour for bricklayers, masons and plasterers. NEW YORK, April 29.—Openings of the fall lines of the clothing manu- facturers have brought out new prices which probably require sohe explanation. These prices probably are higher than the retailers have expected to pay, and the ultimate consumer probably is in for a similar surprise. ~Public” announcements of the prices have not been made, but it is said that, while the figures are considerably under those of last fall, they are above those of this spring. P S — FINANCE AND TRADE NOTES. Wells-Fargo Express has declared a dividend of $2.50 a share, ym)df June 20, to stockholders of May This is the first dividend the com- pany has declared since July, 1918. March operating revenue of the Seaboard Air Line was $4,005,534, as compared with $4,111,950 last year, and net revenue was $624,310, as com- pared with $16,587. After taxes and other deductions net income for the month was $474.338, contrasted with” a deficit of $3 Y ot ‘Western .‘\laryland Railway grodsi earnings for the third week in Apri¥ were $349,724, an increase of $54.328a over the same week last year. .Fors the three weeks gross earnings wesrses $981,380, an increase of $96,546. Norfolk and Western has declaf®d the regular quartely dividend of $£T5Y a share on its common stock, pay able June 18 to slockhuld( rs of May 31 nran - LIBERTY BOND NOON PRICES. 1t «u '54; fourth 43, l&‘ Profit by the experience of others CE the war, millions of dol- lars have been lost in worthless oil stocksand -dan- thrown away by “8s B3 inexperienced investors who were lured by the prome ise of big profits. They wanted to get rich quick. A savings account won’t make you rich quick. But nwxllpayymundllyandnntlyammnf And your money will be absolutely safe. CHECKING ACCOUNTS SOLICITED BANKING HOURB: 8:30 A. M. to § P. M. BATURDAYS: On the 1st, 2d, 3d, 15th and 16th and last day of each Month Open until 6 P. M.—Ezcept 30 A. M. to NOON and 6 to 9 P. M. STANDARD Savings Bank YORK AVENUE NINTH AND NEW