Evening Star Newspaper, September 3, 1921, Page 13

VFIN HIMENT WILL ! 12 Yictory - Notes, Stamps and Short-Term Issues Mature in’1923.: A. FLEMING. BY L Senate financial authorities now ad- mit that the sovernment will kave to refund'the outstanding victory notes " and war savings stamps, together with the three-year netes recently issued in lieu Yot certificates, and also some short- by the Treasury Department term eertificates. This means that in addition to the heavy taxes that must be collected to of government moving the pecple cf the United States between keep the machinery will be asked to provide bet $7.500.000 and $8,000,000 fbr this re- funding operation. Efforts were made Hurden, through making some colle tions from our debtor nations. this plan_was abandoned when it be- came evident that partizl en account of interest were cred impossible. Holders of victory notes will asked to consider taking new securi- ties, and as these notes are to avoid thi: par value—from $: to $98.94 will not be a severe loss to the gov- ernment to sell in the open market. As for the war savings stamps and it will be neces- other maturing pape: sary to make cash payment therefor. enator Smoot is reported as say- no way 3 expenses and obligations. refund the 1923 obl i will not be enough even if we keep the heavy burden on the American people that they are now yaving.” hwving financing to do in 1923 to re- mber that the government mus supplied. when ready to ask a: ance from the people, and to advan iheir own corporate financing a #i least in order mot to come competition with the government. e competition. Moreover, the mone. time is decidedly ea so after market at v and crop thi v b ¢ven more o the corner and is for! continued betterment. helieve heduled many remaining around the low rates urrent. The present ease is due in large part to the disposition of bankers to prevent speculatioin and hz pansion. Ropert V. Fleming. vice president and fcashier of the Rigzs National Fani. has returned from a month spest at Cape May. The executiive forfe of the Rizgs National bank returnend from vacations. a / Doutkle Holiday. All stock exchanges are closed over today until Tuesday. _— ALY WHTEHENS LD NG 0BSERVED Scottish Pioneers Settled in Nova Scotia Before May- flower Came. ¥ the Associated Press. ANNAPOLIS ROYAL, N. S., Septem- Ler 3.—Sixteen years before the May- flower with brailed sails cast anchor | Some of the nations wish to retain an! off Plymouth Rock, the Sieur de Monts | sighted the Annapolis basin from the stern deck of another ship, Acadie, and landed to form the first settlement of white men north of the ! trusting of one another. Now, in the | Charles D. Winters, a Baltimorean. Gulf of Mexico. The Nova Scotians celebrated the 30uth anniversary of th ing of the charter of land) Nova Scotiz. by K 1 d 1, a the sturdy Scottish i the foundations of | 3 to Sir William Alexander, in 16 paid tribute vioneers who settlement and governme province three centuries a ntrepid French adve < ing and seitlement in 1604 1his town second only to St. Ausus. a., in point of age, in North America. . as well blet Unvelled. A tablet was unveiled by the gov- ernment of Nova Scotix commemorat- iug the grant to Sir William Alex- d i foundation of er honoring the 3 the establishment and sitting of the first court adminis- tering English common law in what is mow the Dominion of Canada. A third tablet is in honer of Thomas Chandler Haliburton, the Nova Scotia statesman, jurist and humorist who, as creator of “Sam Slick,” the Yankee clockmaker, won fame as - the er of American humor. Judge Haliburton was admit- ted to the bar of Nova Scotia a cen- + tury ago. and his famous book. “The Clockmaker, or Sayings and Doings of Sam Siick of Slickvilie,” appeared in 3837 The Annapolis singular! impressive ceremonies. old e roval, for the beauty of its environ- ment, but_ later valley afforded ion readily con- a three-masted, el with square main- of Champlain and de Monts and followers in their weather- ublet: \ 01d Powderhouse. The old French powderhouse, lined with stones brought from France es: pecially to keep the powder dry, still stands inside the fort Sieur in 1 among ihe flrst erected on American soil. With first the fleur- Leir Leaten dot «e-lis and then the British lion flying | from the peak, the fort was the scene &f thirteen sanguina !!ll._“flNS Shortage in Savings but payments consid- be selling in the open market not far from their as a result of the operation ky if we et enough revenue to meet current We mustje There . |level. might be well for dorporations nce their refunding diate future to improvement has really there will be small chance for eminent | appropriate setting for the! The quaint, { world town perched on the bluffs ! ed by de Monts, Port Royal, le port named Annapolis icholson in honor of battles during ANCIAL IMANY ENCOURAGING FACTS HELP THE ENTIRE SITUATION Cottoxi Strong Resist BY STUART P. WEST. NEW YORK, September 3.—A re- view of events since last Saturday would not overstate things If it said that this has been the most encourag- ling week for the business and finan- {cial situation for a year. This does Inot mean, of course. that there has been any radical change for the bet- ter in industry generally. Nor does it mean that there has been any great and striking advance in se- curity prices. But it does imply that there have been more signs in the ‘business world than at any time so r that the bottom of the depression been reached. These have been companied by the most convincing demonstrations yet given, that the forces of decline have at length been arrested in the Wall street markets. The Rise in Cotton. week has been the extraordinary rise on the cotton exchange. In barely more than a fortnight prices have risen over four cents in the pound. and are up between six and a half and seven cents from the low of June. in normal times such a cotton re- week, with an indicated shortage of |some four to five million bales as compared with normal, would have been taken as a very bad piece of news. It is one of the paradoxes of ;Jn- economic conditions resulting rom from the war that decreased pro- luction in any line is welcome, be- use it is the only means through which prices can regain a profitable [ Three months ago cotton was sell- ing below the cost of production, and growers were refusing to dispose of their holdings at the enormous sac- rilice entailed. Bank loans, based upon coiton, were frozen solid. There seemed no present hope of their be- ing paid off. The cotton industry. composing the leadiniz source of buy- ing power in the southern states, was debt. 1t was difficult to see how t is understood the Potomac Elec-|it was going to a2y off it bliga- Company and the Washington |tions. and still more diffieult ';nllfii Railway and Electric. Company con lize the development of a new buy £ power. which would start the wheels of business going again. | Shortage of World Supply. taken the most damaging n_history to bring the ¥ n trade, and with it in the whole industrial southern states. of only a little over { 000,000 bales— not much more than half the crop a ortage, of s an aciual searcity of world sunply whereas at the begin- summer there had been a surplus overhanging that was to all 2l purposes unsalable. This tremendous change is represented v by the addition of some- thing like a half billion dollars to the value of the American cotton crop, old | ost vitally interesting ques- tion at the close of the week is how r this incrfase is going to react, st upon sokthern trade, and later upon tae business situation elsewhere. CUTTING OF ARMAMENT. A Peace Program for the Nations a Necessary Corollary. To the Editor of The Star: - The several ‘nations of the world at- tending the conference in Washington in November should come with the sincere ‘determination to do all in their power to bring about general reduction of their own armaments and not simply to see what the other tpowers are willing to do and then re- jduce their military forces propor- tionally, somewhat above the others. An earnest desire on the part of all i the nations to reduce will be success- ful. If, however, it is suspected that advantage over others, will nuilify all efforts. The history of the world has shown that suspicion the i that it has been thought necessary for |each power to be on guard against most others. There has been no real {forthcoming conference, if it be un- iderstood that each nation is resolved {to cut down armies and navies for all except internal police duty the {2doption_of the policy will be easy, i though the carrying out of the details imay be complicated. The adoption of a peace program for 1 the nations will be a necessary corollary to limitations of armament, | and should constitute a material part !of the discussion and action of the conferenc: If there ncere desire to nations—and no with its in- ¥yzing costs— is a ithat purp ated through the doing away with the of meking war. It is the enor- forces kept under arms in the ld which makes every nation arful of attack from others. There no real confidence in the friendli- s and peaceful purposes of the nation whose guns arc always loaded. !Let each nation unload its guns and {turn them into spades and pruning hooks, and the permaylxcnt pea(:ie of he world will be larzely assured. S LE ROY PARKER. i mou The Skip-Stops. + I'o the Editor of The Star: | Referring to Mr. Truesdell's letter in | The Star of August 30 on the skip- | stop_system here, 1T wish to say that 11 believe a majority of the car riders i prefer this system to the old one of stopping at every street corner. I am over eighty years old, not as spry as 1 once was, but much prefer the pres- ent way to that before the war. Our line, the 9th street, is often crowded, to stand. t is particularly | i iso_that many hav Your correspond the inclosed|ypfortunate in his reference to the -ansfer points mentioned. He says: e the tramsfer at th and F reets for a passenger who has come down 11th street. and wishes to go {down 9th. He is carried across 9th inearly to Sth street, gets off there to { walk or run back to 9th and up nearly i to G street to get his car.” Now. I have noticed recently that the 9th street cars going south run inearly to F street before stopping: Ito Sth street, in busy hours, in order ito ommodate two cars at once at the loading platform. the first car has zo to the east end of the platform So the rule is, 1 pre- i i before stopping. thel Freuch 'and . Indian iy i | Dores for hll Gars to g0 to the east srmy_an brigade commanded | ena where possible. . B b Gen. Nicholson s dispatched | The point of transfer on 1lth street 1rom Boston in 1710, and for the last|above s being half way to H time the 1 of Louis of France w Street, is also exaggerated somewhat bauled down. Tha huge iron key by Mr. Truesdell, it beigz opposite the v hined in the lock for the last time, entrance to Palais Royal. +7d now reposes in the collection of| It _may be that some improvement 1. Massachusetts Historical Society. e ns were taken to England ¥ nt-nosed - old that _ still e their ugly rom the moss-grown ramparts arracks, built “by the ent, Queen Victoria's father, been converted into a museum re the idle tourist may gaze on that would—if they could but k—tell mzny a fine tale of adven- 1ve and romance of the early days: hen America’s history was told on v pages. Z 1AJ. DRYSDALE RELIEVED. j. Waiter S. Drysdale, infantry, ; been relieved from duty as mili- tache at Peking and assigned d Infantry, at Camp Travis, rds t e ! can 6 made in skip-stops where very ilong blocks are concerned, but as a {oaral thing 1 belicve they are well | planned. Pl NATHANIEL FREEMAN. MOCKING BIRDS NOT ABSENT. To the Editor of The Star: In your article on the various birds | we have with us at this season. it is istated the mocking bird is an ab- |sentee. This is not true. If the writer 1ot the article would ramble through i Lanham, Md., in the early morming |not a ‘l,ew but mgny mocking birds ! would be seen and he: ' C. W. BENTLEY. | CAPT. WELLS DETACHED. | Capt. Chester Wells has been de: {tached from duty at the Naval War {Eollcge. Newport. and ordered to I 1 | command tae Atlantic submarine flo- tillas on the cruiser Savannah. Crop the Chief Influ~ ence—Will Rehabilitate the South. ance to Bears. The only tangible piece of testimony so far was the statement on Wed-~ nesday by the Iron Age that, because of the increase in exporis and the improved outlook in the southern states, Tennessee Ccal and Iron—the rrincipal southern subsidiary of the United States Steel Corporation—had raised it3 active capacity to nearly 56 per cent as against less than 30 rer cent, the nverage generally. ‘Wheat Exports Heavy. Is the wheat miarket facing tha fame recovery as cotten? This is an- PARTIAL PRICE RECOVERY AT EXPENSE OF SHORTS NEW YORK, September 3.—Partial recovery of prices in the stock mar- ket thise week was affected largely at the expense of the shorts, that element evidently taking heed of gradual improvement in many lines of trade and industry. Olls were the outstanding feature, kowever, the corfusing course of the Mexican group being accompanied ty conflicting reports respecting the outcome of regotiations now in prog- resa. Rails were only modorately respon- sive to additional favorable state- ments of earnings_and several of the investment division, nctably the Hill group, were under pressure arising from_ their doubtful dividend status. Stecls and equipments of the more seasoned types shrew off much of their recent torpor, although advices from steel centers reported slow re- vival of activity. 1In trade circles, however, the belief prevailed that large contracts for railway would roon be awarded. Crop demands prompted interior Lanks to draw heavily against local The most important incident of the | port as the government put out this | o.her leading question. Wheat ex- iports, like those of coiton, are run- ining heavy. and. now that the pro- {sTam of. Russian relief has heer reserves causing call loans to hold at 5% per cent. There were free: purchases of mcrchants’ paper, ban! acceptances also being in_ better de- {agreed upon, thcy are likely to con- |mand. !tmue heivy for thc rest of ihe sea-| Marked improvement was mani- son. It has been a bad crop vear in|fested in the investment marke! the northwest, how bad is soon to be revealed when the government pub- [1ishes its report for Sept.mter. The difference between the two situ- ations Is that the outside world is Jliot dependent upon American wheat to anything like the extent it is upan |American cotton. There is no idea 1ot any shortage. Still it is conceivable that when the present movement of the Canadian wheat crop to market is over prices will reflect more than they have so ‘fnr the comparatively small harves: at home. It goes. without sayving |that “if the wheat farmer were put lin the same position as the raiser jof cotton now, where he could pay {off his debts and begin to buy again, recovery in general business would be the speedy sale of $25,000,000 of Bra- zlian government bcnds, together with smaller domestic and foreign cfferings. REACTION IN COTTON, FOLLOWED BY ADVANCE NEW YORK, September 3.—The action of the cotton market during the past week centered on the gov- ernment's crop report, which was preceded by a violent reaction and followed by an excited advance in prices. The earlier week was mark- ed by a continuation of the buying on that has now occurred | T ago—raises the possibility of a | do} rgely effectu- | ibrought into much nearer prospect |than "has seemed likely for a,long while past. ‘Wall Street Sentiment Better. The advance in the stock market unquestionably has had some such Ildea in mind. It has differed from jother recoveries that have occurred in | recent months, in that it has had an :appearance of durability which has not been present before. The Wall street “bear party” has, to be sure, badly misjudged conditions and the | covering in of short contracts has | had a good deal to do with the rise iof the past week. But, apart from Ithis, sentiment is genuinely better land this has shown in a good deal of I new buying for both investment and | speculative account. This buying doubtless would be cautious about | following prices up much from the present level, but it would come in freely on any decline. Easier Money Probable. Meanwhile bank reserves, contrary to the precedent at this time of year, continue to gain. If the demand for money makes Itself felt over the mid- September tax period it will only be ja temporary flurry. UJold keeps pour- iing in from all parts of the world, iand the tendency still is toward con- traction of loans and paper note is- | sues. ! Consequently. despite the autumn jcrop moving demands, money prom- ises to be easy, and after the turn of the year to become a real drug. In this outlook there is a stimulus to the investment market, and to all sound business enterprises requiring the use of credit, which constitutes an unu- sual backgwound of strength. (Copyright, 1921.) DEMAND FOR VAN DUSEN. Requisition Here for Transfer of Ex-Representative to Baltimore. Requisition papers for Clarence Dunn Van Dusen, former representa- | tive, wanted in Baltimore on a charge of obtaining $250 by false pretenses. | were brought to Washington yesterday by Detective Lieut. Dunn of the Balti- y more force. Van Dusen Ts being detained at the Seventh precinet upon his failure to fur- nish bond of $5,000 for appearance un- der a habeas corpus writ issued in the District Supreme Court. Following a conference in the office of the district attorney, it was decided that Van Dusen should remain in Washington until after {his hearing, which was set for next | Wednesday, when police will be asked to !show cause why he should not be re- i leased. Detective Dunn had with him & war- rant charging that Van Dusen had {passed a worthless check for $250 on i i H i | OFFER SHIPS IN ONE LOT. |Nine Vesscls Taken From U. S. Mail Company Open for Bids. The nine ships temporarily allocated | to the United States Mail Steamship Company will be offered for sale or ! charter in one lot as “a going-con- cern” it was said at the Shipping Board. Prospective purchasers will be ! required to establish their financial re- i sponsibility before their bids will be | considered, an official of the board said, General Counsel Schlesinger was not prepared to say whether the board would proceed against the United States Mail Steamship Company be- ause of its alleged disbursement of $600,000 collected from immigrant passengers for land accommodation | and transportation. Should it be found that the board has no legal re- course, Mr. Schlesinger said, Congress viill be asked to adopt legislation cov- erlag such situations. OYSTER SEASON OPENS. Maryland fieports Prospects of Good Supply of Shellfish. Special Dispatch to The Star. . BALTIMORE, September 3.—Mfary- lmnd‘s ovster season opens a fairly successful scason, with a good sup- {ply of shellfish 'in excellent condi- tion, is indicated by reports reccived by the conservation commission from deputy commanders of the oyster fleet. The number of tongers is expected to at least equal the number operating last year, when 5,200 licenses were ls- sued. Although reports so far received are *&till incomplete, it appears that the 1 170. movement which had been started by reports of crop deterioration toward the end of last month. When De- comber contracts, which had sold as low as 13.12 on the mid-August reaction, rcached nearly the 17 cent level, however, there was a sudden effort by recent buyers to secure profits. This was not due to any special change in the general news, but to a feeling that the technical position of the market had weakened 2nd that a low condition figure had been discounted. The condition was eix :points below the previous low record for August 25, and rointed to a crop of only 7,037,000 bales, the bullish effcct of which was intensified by many private reports indicating that the deterioration in progress last month had continued. The advance which followed these figures carried market up to above the 18-cent {%i for Dcecember and later months, making advances of between 41; and 5 cents per pound from the low record of last June. Some southern hedge selling has been reported at the advance, but the fcer that cotton will be rushed on-the market has materially diminished, owing to the arrangements that e been made for financing a slow marketing of cotton available for export. Heavy realizing sales were reported, but both Liverpool and the continent were active buyers here and offer- ings were absorbed on comparatively moderate reactions. WHEAT ADVANCE IN WEEK FIVE POINTS; CORN LOSES CHICAGO, September 3.—The prices for wheat have advanced 4% to points during the week; corn lost % to %, while the figures on oats sho: ed exactly the same that was shown a week ago. Provisions gained 35 to Rep:rts of large sales for export learly In the week started the market on the upward trend. This was fol- |lowed In_midweek by a private crop report, showing 17,000,000 bushels of vhcat less than the government Au- zust report for all wheat. This served '3s a stimilant to the market and a {8ain of 5 cents was noted then. This gain was generally maintained until yesterday, when a closing of spreads between here and Winnipeg weakened the market and it slumped off between 1 and 2 points. The market broadened until 1.28 for December was reached, when a flood of selling took place and the high mark was not sustained. Export demand for corn served as a sustaining influence during the majority of the week, the market displaying a slight weakness toward the end. Oats followed corn through- out * isions displayed a firm mairly owing’ to grains. tone the strength in —_— LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per doz., 37alS8: ts, 3 -Roosters, per 1b., 1 per Ib., 52a35; chickens, sprin; per 1b,, 30; hens, per 1b., 25a28; keats, young. each, 35a50. Dreesed poultry—Fresh-killed _spring chickens, per 1b.. 34a36: hens, per Ib., 28; roosters, per lb., 22; turkeys, per Ib., 3£a40- iears. voung, each. 60a75 Pork—Dressed, small, per Ib., 15. Live stock—Calves, choice, per Ib., 1; lambs, choice, per Ib., 10all; liva ogs, per Ib., 912 Green fruits—Apples, per bbl. 3.00a 0.00; per bushsl basket, 1.00a3.50; west- 5.00; California lem- ons, per box, 5.00a6.50; California oranges, per crate, 6.00a7.00; peaches. per bushel. 3.00a3.50; cantaloupes, per crate, 1.60a3.50. Vegetables—Potatoes, new. No. 1, per barrel, 5.0026.00; Nol. Zz. 026:4&020 sweet tatoes, per barrel. 3.00a4. marhr, per crate, 76a2.00; New Yorl crate, 1.00a2.00; celery, per doz., 50a romaine lettuce, "75a1.25; cymblings, H te, 75; spinach, per barrel, 5 00ag 507 2.0014.50: cabbage, c‘lcll;nnge‘;':. tl.(wn‘l.fiog ggplants, per crate, 1.50a2.00; tomatoe: ;el' box, 75?&.00; corn, 10a25 per dozen; beans, 1.00a3.00 per barrel; 1ima beans, 20a25 per quart. —_———— BOSTON WOOL MARKET. BOSTON, Septe;nber 3.—The Com- 1 Builetin today says m?‘r';‘h‘e demgnd for wool has fallen off rather sharply during the past week, although some houses report a fair volume of trade at steady prices. The goods market, however, has fallen on dull times, according to all reports, and ‘business has accordingly slack- ened up on raw materials. “Foreign markets are very buoyant, jlower parts of the bay and the d sper bay | London having opened fully 10 per / BY BYRON SELLER. Bpecial Dispatch to The Star. NEW YORK, September 3.—King Cotton has dragged his faithful sub- Jects of the south out of the by- paths of depression and set them on the highway toward businese revival. ‘Tmproved conditions in the south found instant response in renewed activity and inoreased’ confldence in other sections of the country, ac- cording to business dispatches re- celved within the last twenty-four hours. Indications point strongly to a somewhat similar improvement of both credit and buying power for the farmers of other sections, and these are rendered more significant by the large demand of wheat for export. Demand for steel products is improving, and, although it is improving slowly, more plants are being blown in and more furnace fires lighted each week. Rallroads Increase Forces. Railroads are increasing their shop and maintenance of way forces. The wave of lumber buying, started by foreign demand on the Pacific coast, {s sweeping eastward in re- sponse to heavy purchases by rail- roads and the demand for building purposes. Within the last ten days railroads have made heavy purchases of ties and car material, and retail yards are buying freely. Freight movements have improved, less idle cars are on sidings und car shortages, reported in grain centers, are disappearing. Oil men are en- encouraged over the increased amount of crude oil being taken daily by the midwest refiners. Buying by re- | tailers is .advancing by leaps andopened bounds in the south and is proceed- ing satisfactorily elsewhere. tivity, while shoe manufacturers in some sections are declining to guar- antee deliveries for the fall months on further business. Textile Trades Respond. The textile trades naturally re- sponded quickly to the advance in cotton. Fears tha: the increased price of the staple and consequent Ligher prices for finished goods may check buying would seem to have lit- tle foundation, when it is realized that probably not more than 20 per cent of the retailers of the country have bought the supplies of these goods which they will require this season. v While the intervening of the Labor day holiday may serve to .slow up business generally next week, its ef- fect will be less noticeable than usual. Meny plants started up September 1, and in some of these, where the char- acter of the work prevents a close- down, workers will celebrate Labor dey by being back on the pay roll after a long absence. 3 The holiday also will give textile men a chance-to review the cm:ton situation and schedule new prices necessitated by the advance. There is no doubt that business is improving in the United States. But it is equally certain that it must im- prove at an even faster rate to wipe out the problem of unemployment be- fore the pinch of winter lays its grip on the jobless. However, far-sighted leaders representing both capital and labor are striving to the utmost to increase employment and each is= sacrificing something in the effore. operated on the narrowest margins of profit merely to hold working forces together and give employment to regular hands. Workers, too, have cheerfully accepted wage reductions in many cases, to enable businesses to continue on a sound basis. There are still scores of adjustments neces- sary, however, and there are thou- {sands voluntarily unemployed, even {in industries where demand prompts {immediate increase in production. These differences, however, are being settled with increasing rapidity. Efforts to destroy the unemploy- ment menace are being ably sceonded by municipal, state and federal offi- clals and there is every prospect that the danger will be minimized to a large extent before the end of au- tumn. Lake Traffic Present Year 35 Per Cent of 1920 Figures DETROIT, September 3 (Special).— Lake traffic for this yvear, it is esti- mated, will show only about 35 per cent as much tonnage moved as in 1920. Idle freighters are so numer- ous at present that tying up slips at lake ports are at a premium. There are nine boats tied up at Toledo. some of them forced into slips so short and shallow that the boats extend many feet into the. channel of the Maumee river. At St. Clair, Mich,, idle boats have been packed as far as_they would go into a small creek. It is estimated that shipments from the Lake Superior district, which includes Escanaba, Duluth’ and Ashland, up to the end of August were just about half those for 1920. The normal tonnage for the district is sixty million tons. Notes of Commodities in Various Centers Leather. PHILADELPHIA, September 3 (Spe- cial).—There have been some sales of offal reported for export, but domestic demand is light. Best second heads are listed at 12 to 14 cents, bellies at 18 to 22 cents and double shoulders at 34 to 36 cents. | | | Steel. 'EBLO, Col., September 3 (Spe- chl;}{—A'fl the plants of the Colorado Fuel and Iron Company, except those |Mrs. Charles Burras sustained serious; making barbed wire, nails and irom ;. ;g ghout the face and body in res- ill close today, and about 6000 cying her three children from the rods, Wi men’ will be laid off. Corsets. INCREASE IN BUYING POWER' FOR FARMERS IS INDICATED Large Demand for Export Whest Follows Revival of Trade in Cotton—DBetter Freight Movements. The | about one cent. grocery trade is showing renewed ac- | was followed by a sharp rally on FINANCI - REVIEW BY BRADSTREET. NEW YORK, September 3.—Brad- Street’s review today says: Jobbing trade reports are much more cheerful, especially from the south and weat, and this access of optimism seems to have had a fairly good basis in a larger volume of trading for near- by fall account. In addition, the in- dustrial situation is regarded as hav- ing improved somewhat, several im- portant cities note a reduction of un- ing has been free, with exports heavy, and there is a rather better trend to late crop reports, cotton excepted. Modifying the very generally more ed as to insure a strong demand for finished cotton products. week's happenings, it might be noted that the stock market has continued | employment, there has been a quite EY BLoc. g marked upward surge in prices of raw | MUNSEY B ! cotton and cotton goods, grain market- | Room 915 v cheerful trend of the majority of thei § AL. TAX SERVICE Washington Office Teiephone, Main 8567 Offices in 26 Leading Citios AuDITS—sYsTEMS || Non-Ferrous Metals. . NORFOLK, Va., September 3 (Spe- fal) —Scrap’ brass - salvaged from French battleflelds is arriving in con- siderable quantitiés at Hampton roads. A shipment of 1,000 tons is ex- pected September 6. to display indecision, but foreign ex-i change rates have generally ruled! Conl. NEW_ YORK, September 3 (Spe- cial).—It {s announced here that the closing of the offics at Norfolk, Va.. cof the Kentenia Coal Company is net an indication that the company will discontinue its southern inland business. The Norfolk office is being transferred to Bluefield, W. Va. —_— GRAIN AND PROVISIONS. BALTIMORE, Md., September 3 (Special).—Potatoes — White, bushel. 1.75a2.0 0 pounds, 2.25a2.50; Nos. 2 and 3, 50al.25; sweets, barrel, 3.00a 3.75; yams, 2.00a2.50. Beans, bushel, §0a1.0i ; beets, bunch, 000, secured by first deed of trust on rea’ esta Joseph 1. W, L. & Tru EQUITABLE Co-Operative Building Association Organizea 18579 stronger, and the bond market has! shown a little more lite. Retail trade | Over a s rather inactive, as not unusual at the close of & summer season. - Week: | Quarter 1y bank clearings, $5,392,940,000 of a Century Money to Loan Bk b $50,000—75 futerest, in sums of $1,000 to 85, i aLoss i eller £ "5 Fifteen Reasons Why You Should Inve:zt in Our First Mortgages Reason Two 2a3%; cabbage, head, 4a8; carrots, 41ST YEAR COMPLETED e otte bunch, 3ad; celery, crate "275a300; || Assets .. . .$4.302.838.05 ey gay ,‘1 P r‘atc corn, dozen, 6a12; cucumbers, basket, urplus - .$1,965,322 80 [ interes an any other 35850 eggplant, basket, 15a20; let” ? OF Tobetess A yce, bushel, '50al.25; lima beans. investment ofiering so 75a1.00; onlons, bushel, 1.6021.75; pep- Your Money : S pers, basket, 20a25; squash, basket, and sour self-respect ar high a degree of safety. F 15a20; tomatoes, basket, 35a50; bush- el, 75a85. crease if you weil will in- craave OR A PUE- it that home of sour d + On every dollar invested you receive 7% interest, amy ‘ADDles, barrel, 2.5024.50; bushel, 1.50 || /™37 in view. Join the Equitaile! a2.75; cantaloupes, basket, 50a7 crate, 1.00a2.25; damsons, pound, 7a! Subscriptions for the grapes, common, basket, 1.50al.7. & peaches, basket, 75a1.00; bushel, 2.00a 81st Issue of Stock 4.00: pears, Bartlett, basket, 1.00al.2! Seckeis, 75a1.00; common. 50aT plums, bushel, 3.0024.00; watcrmelons, #elects, per hundred, 20.00225.00; primes, Being Recelved Shares, $2.50 Per Month 8.00a12.60; culls, 3.00a5.00. 4 Per Cent laterest CHICAGO, S by 3.—Wheat Comewhat unsettica)l with EQUITABLE BUILDING prices holding within a range of A small break ecarly 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE. Sec'y. FOREIGN Checks Foreign Currencies buying by strong commission houses, e the selling was scattered in the main, opening at 1.23% to 124 for September, 1.24% to 1.25 for Decem- ber and 129 for May, which was % | lower to i higher than yesterday’s ||| finish. I! The end of the first hour, however." found wheat 1 t0 % higher, with the market taking on a slightly firmer ! tone. Corn opened rather dull and a lriflcl easier. Country offerings were light, ! /| due to some extent to the receat|| break in prices. September opened a shade | to % off, with September at || 5312; December at-53% to 53% May at 57%, but a slight rall ing the 1 hour carried the mar- kel slighily above last night's fin- sh. I 3, | Oats opened dull, unchanged, to 3 higher, with September at 343%; De- cember at 38 and May at 41%. Oats also made a slight gain early and the end of the first hour found prices a shade to 1; higher than the opening. Provisions were steady. A private report stated that recent purchases of lard were almost phenomenal. o REVIEW OF WOOL TRADE. BOSTON, September The Com- mercial Bulletin publishes wool quo- tations as follows: Ohio and Pennsylvania fleeces—De- laine, unwashed, 33a35; fine, unwash- ed. 28a29; one-half blood. combing, 119!-:2!(6!; three-eighths blood, combing. 226, . Why Dig Work is a wonderful Michigan and New York fleeces—De- unwashed, 31a33; fine, unwash- 22a24. Wisconsin, Missouri and average New England—One-half blood, 23a24; three-eighths blood, 21a22; one quar- ter blood, 21a22. Kentucky, West Virginia and Simi- lar—Three-eighths blood, unwashed, 26a27; one-quarter blood, unwashed, 23a25. Scoured basis, Texas—Fine, twelve months, 65a75; fine, eight months. 50255. California—Northern. 70a75; middle county, 65268; southern, 50a55. Oregon—Eastern, No. 1, staple, 78a 80; eastern clothing, 60a65; valley, No. 1, 65a70. = ‘Territory—Fine staple choice, §0a85; one-half blood, combing, 68a72; three- eighths blood, combing, 50a55; one- quarter blood. combing, 36a3S; fine and fine medium, clothing, 60a63; fine and fine medium, French combing. 65a70. Pulled—Delaine A, $5; AA. A supers, 60a70; C supers, 25a. First Mortgage Notes on The Nation’s . ! 28, Mohairs—Best combing, 27a30; best carding, 22a25. 52 Years Without Loss to an Investor payable to you every six months, without any de- ductions whatsoever. B. F. SAUL CO. Mortgage Loans 934 N. Y. Ave. N.W. EXCHANGE Cable Transfers Foreign Bonds WE MAINTAIN OUR OWN ACCOUNTS ABROAD ' The DUPONT NATIONAL BANK Connecticut Avenue at Dupont Circle Franklin 4424 Forever? thing—but so is th: There would be small joy in our work if we thought we had to dig forever. Investment in our improved Washington, D. C., property is a guarantee against that time when you will wish to stop business. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. Washington, D. C. Home Town PARIS, September 2.— France's wheat crop for this year was esti- mated at 87,000,000 quintals (about 319,000,000 bushels) today by Minis- Invest in the 8% Cumulative Preferred | Stock of the National Mortgage and | if t I |l DIVIDENDS DECLARED. . $1.00 Q 15 Oct D Y th F lll' 15624 Do YouKnowtheFull | Q . 15 Sep. 2 | H i 4 @ ser. 13 Au- s” o P b sebesienmn Barning Power of Do. 7% pid. 1% Q Oct. 15 Oct. 1 ’ o pra § Ser 1% B YO u I3 DO l la s WHEAT CROP REPORTED. ter of Agriculture Lefevre. BURNED SAVING CHILDREN | | Frederick Mother, Awakened by Smoke, Rescues Three. Special Dispatch to The Star. FREDERICK, Md., The Profitable Business of Managed by Conservative SAFETY OF I September 3.— .Burras home, wl hich fire completely destroyed. 2 Investment Corporation the Corporation, Which Is and Experiencad Wash- ington Men, Assures Beyond Any Reasonable Doubt NVESTMENT INCOME DEFINITE AND FIXED FOR ADDITIONAL PROFITS FROM THE The blaze, of unknown origin, be- ireaches of the bars in the u are in better condition than ?fli'h‘lfi in shallow water, where mussels are reported to be plentiful, and, in some cases, to cover the oysters entirely. Mature oysters seem to be in good built by the!,nq as to the cars going east nearly | condition and young spat are plentiful. | The dredging season does until November 1. —_— LEPER COLONY VISITED. Mission to Philippines Reports In- | stitution Lacks Funds. i MANILA, P. I, September 3.—¢ Among the last few places in the Philippines visited by Presiden | Harding’s mission of inquiry was the | {1eper colony on the island of Culton, | where about 5,000 persons are under treatment. Reports to the mission showed that.lack of funds was pre- venting the treatment of more than 300 of these with chaulmoogra oil, and a recent development - in com- bating leprosy. s ‘These patients, the mission was informed, are showing remarkable improvement, however. It was re- ported to the mission that the other lepers virtually were ‘medicines. s VETERANS’ REUNION DATE. FORT WORTH, Texas, September 3. -—Confederate veterans will hold not open - |their 1921 anmual reunion at Chat- |37 tanooga, Tenn., October. 5. 26 and | }27. Genral K. M. Van Zanot, com- ! mander-in-chicf of the United ‘without m federate’ Veterans announced today. ! cent higher than the close of the pre- vious sales, while the tendency in the Australian markets is still upward.” —————— DAIRY MARKETS. BALTIMORE, Md., September 3 (Spe- cial).—Chickens—Alive, springers, per pound, 27a30; white .Leghorns, 25a27; old hens, 25a28; old roosters, 16al7. Ducks, 20a24. Pigeons, pair, 25, Guinea fowl, each, 60a65. Eggs—Loss off, native and nearby firsts, dozen, 38; southern, 36a37. Butter—Creamery fancy, pound, 42; prints, 42a44; nearby creamery, 38 ladles, 30a32; rolls, 26a30; store pack- ed, 26; dairy prints, 23a30; process ‘butter, 34a35. _— BAR SILVER QUOTATIONS. NEW_YORK, September 3.—Bar sil- ver: Domestic, %; foreign, - 62%. Mexican dotlars, 433. LONDON, September 3.—Bar_silver, 38% pence per ounce; money, 2% per cent. Discount rates: ort bills, 43 per cent; three-month bills, 414 per cent. —_ MONEY AND EXCHANGE. NEW YORK, Séptember 3.—Exchange steady; sterling 60-day bills and com- 60-day bills on_banks, 3.67%; commercial 60-day bills, 3.67%; demand, 3.72; cables, 3.72%. cs, demand, 7.77; cables, 7.77% francs, de- mand, 7. cables, 7.56%. Guilders, de- mal 31.69; cables, 31.75: Lire, demand, 4.451%; d@mbles, 4.46. Marks, demand, .13%; cables, 1.13%. Greere, demand, 5.62. Sweden, demand, 21.65. demand. 13.%0, £0.25. - Braziliar, d : . Montreal, 931-32 per cent discount. i dNorwly. Argent ecs lemand, NI RK, September 3 (Special). |gan at an early morning hour. Mrs. _.‘l;?pvovrtzofllat a reduction in the!Burras, awakened by the smell of prices of corsets is imminent is denied { smoke, rushed to an adjoining room Just | OPPORTUNITY | OFFICERS AND DIRECTORS COMMON STOCK .ny leaders in that trade. Prices!where her three children slept. B v been reduced from 25 to 35 per cent since January 1. Hardware. SEATTLE, September 3 (Special).— The sales of hardware in this section, as measured in money, are about 32 per cent below the average volume of business done in 1920, but the volume of sales is much higher than that fig- ure, as prices have decreased material- }y. ' Demand is picking up, and'a gen- uine improvement is expected this fall. Ofls. NEW YORK, September 3 (Special). —The linseed oil is practically un- changed with sellers asking 74 and 75 cents a gallon, although a firm bid might bring out business at 73. Crushers are:not pushing sales. 2;“ Paper. ILADELPHIA, September 3 (Spe- u.-ll:lg——wmunle ‘wall paper supply houses have made drastic reductions in prices in the hope ‘of stimulating business when vacationists return to the ocity and reopen their town houses. “Cotton. . in the last weck and a distin miile is that mercantile ocke ol ton goods are g0 nearly exhaust- {COURT- | I . ‘LOUIS, September 3 (Special). | Army. retired, attached to the Army —'l‘ml;ore have been. large purchases !ngd!cgl Muscam and the office of the of cotton at prevailing high prices | surgesn general of the Army, has been ive | ordered relieved from all active serv- {-ature of the purchaszes by American 'ice, cffective November ‘23 next, and as she reached to pick them up flames | shot up from the bedside and badly i H. Rozier Dulany burned the mother’s face-and hair. PRESIDENT Mrs. Burras carried the three ch|l<! Real Estate Agent and Operator dren to a balcony, from which she L. E. Breuni dropped them to safety. made her escape. MARTIAL ORDERED. | oy | A !he! VICE PRESIDENT Contractor and Builder President, Citizens Savings Bank Vice President. Park Savings Bank William D. West TREASURER President, Rudolph & West Co., Hardware and Builders’ Neaval Reserve Lieutenant Faces Trial for ‘Injury to Girl A general coutr-martial has been or- Appleton P. Clark, Jr. President. Washington Hotel Co., 'Cl’l(rm‘lor Equitable Life Insurance Director. Washington Market Co.; Direcmrbm:lsenn Savings ank Fred T. Dubois Former United States Senator; President. Capital Service and Information Bureau H. Prescott Gatley Attorney, Minor, Gatley & Row- land; Director, National Savings and Trust Comp: . Supplies dered by the Secretary of the Navy S mauines for the trial of Lieut E. T. Garvey.|[ll Vicg President, Citizens 52 ne Frank J. . naval reserve force, of:New York - *Savings Bank Prezident, Hughes Finance Corp.; city, who commanded the naval hydro-l Hughes Brothers, Builders, plane, from which bullets, fired fal |l L. Duval Royal Oak, Mich. practice, injured Miss Gtace Buxton at SECRETARY 4 Narragansett bay several weeks ago. ) Retired James The naval court of inquiry which in-1 Il C. Bi DIreeaorTr the Clitising Sase vostigated the affair reported that the irge Ings Bank shoo‘t.lnrfl:'uedlee?::nu\.‘ L:eug g‘tb Real Estate and Insurance vey.is charged w! neglect of duty Ty A. Kite - 2 custom: recau- C. S. Taylor Burke Harry e et e Burke & Herbert, Bankers, Real Estate Agent and ‘Alexandria, Va. Operator SRS G COL. CHURCH RELIEVED. TnyestmescBullce Col. James R. Church, United States directors. Subscriptions are recelved by 1418 Eve Street N.W. Phone Main § will rernme his stitus on (e retired Jist;at his home in this city. A portion of the stock of the National Mortgage and Investment Corporation is being offered at the same price paid by the officers Hughes Finance Corporition, the 33 and Main 854,