Evening Star Newspaper, September 11, 1921, Page 26

“By the Assoclated Press. CHICAGO; hair, concealed ears, short all the other fads and foibles asso- clated with modern women' to the mute story told by the mum- September 10.—Bobbed irts and a bf! the womar' aj moved .away. B " Simlar. nnu.. more then than the styles old ag the pyrymigs, dccording mies of both Egypt and Peru in‘the Field Museum.- s Wrapped in their pitched. shrouds and encased in- sarcophagi, covered ‘with curious paintins . and hiero-. glyphici in colors still - bright after three thousand years And more, these mummies, -all that was mortal of a 'h:mhn being of ages ago. today link e dea The daily ‘center of thdusands of curious eye: hold a strange fascination for every visitor to the museum, they are stlent spectators of the passing throngs, but the paintings, which adorn-their reat- ln:rdp aces, tell of a forgotten age. “Why. ma, they're dresséd just like the girls we sece on Michigan boule- 'lfllln ren:h o mlhl many arts at xrmlll to a civilization long since most sunk into. barbarism. Alden Mason, - a Mexican _a Strangely Faseinating:. the mummies seem to the Peruvian mummies. more plainly than |and made.in some cases of styles, customs and manners artisans. Their pottery ‘vard,” exclaimed an. .‘.d visitor to M- wife, as he gazed at the strange llllu adorning the sarcophagi. appears: like-they did not wea: ey do now, mud, as _the pair rq.lons lying_almost each other now, but in_life unonnt of each- other's exist- ence, phic . evidence of - the rity and proficiency in time when the Norse- men were ravaging all of southern Europe and the old . world thd n.l'- r. J. stant curator of South American an- thology. at the museum, has prepared an outline of the known history of Both wove cloths in every weave known fo the modern textile artist finer than are duplicated today by the best me- chanical means and the most skilled is unsur- passed even today Jn its type and ‘THE their work in Eold and copper chal- lenges the modern craftsman. Un: like the Egyptians, the uvains uged no process of embalming, but 80 dry were the sands of certain of their deserts that the dry bodies with their wrappings around them have been preserved perfectly to this day with the objects placed around them. - Large Cemetery Found. Near the towh of - Ancon on the coast of Peru was found the greatest cemetery of these people. A great desert waste, no evidence of occupa- tion'+is' seen on the surface. Even whux the first Spanish conqueror this way in 1533 every ves~ tage of human occupation had en. tirely disappeared and. the location of the town was.quite forgotten. It was not until about seventy years ago that the first graves were di covered and for half a century they have yielded fortunes to treasure seekers who despoiled them to re- cover the golden ornaments left be- side the bodies. And now the mummies of both of peoples tell of strange similar- fties in catyle, adornment, manners and industries to those of the present generation. It is" a linking of the past to the present, which holds a peculiar attraction, for the mummie lymg in silent state, are the most ular exhibit for the thousands of v|ll(orl who daily crowd the museum. Beef pound, 6a?; medium, 3a5; oxen, as to ca; 30 00.40 00. on choiee veal, veals, 9al0; head, 10.00a15. head, 6.00210.00. Hogs—Stralght, da. quality, 7a8 Recelpts, mostly steady. weak BALTIMORE, September 10 (Spe- clal).—Live cattle receipts are only 2,00 lower: s moderate on the wharf; but are am- ple at the stock yard: mand- centered on top grades only ordinary -astock moves slow. tions today at Light street wharf: cattle — First quality, 3a5; cows, choice to fancy, 4a5; common to fair, 2a3; thin teau. quality, milk hoice to Xlni!)'o per head,’ 50 00a common to fair, Calves—Prices are well sustained per pound, 113%al2; heavy fat veals, 10%al heavy smooth fal 15.00220.00; heavy and rouxh. rough commen thin, Lambs and sheep—No. 1 sheep, 3a4; common, 1%a2. Lambs, spring, choice, 9a9%; fair to good, 7al 10 - ags and boars, 4a6 pigs, as to size and quality, 10al. shoats, as to size and quality, %all. CHICAGO, September 1 5,000 head; compared with ‘canners ‘and cutters, weak to 26 ind with de- Quota- per head, fair to good —Cattle— , up most; veal k() (0 100 lower; heavy calves, 1.50 tockers and feeders, st s, 1 to-25 to rplu 25 to 50 lower t6_26 lower. to 10 lower than Yellerdl grades show 28, bulle IEhie and Tight buto t- | bulk 3,000 head. —Receipts, Bhuv— eipt e pared with week around - 1.00 _highe! fat mflln , 60 to 75 higher; 5 to 50 higher. W —Reeceipts, 540 head. No trading. Calves—Receipts, 275 hea veals, - 10.00a16.00; culls, rl’uuu. 5.5026.50. p. and per nu 2.00; 0211.00; culls ‘Hogs—Receipt: mediym weight: heavy ho and pigs, 9.50 roushl 6.00a6.50. per OMAHA, September railroads will reduce freight rates live’ stock, ‘except horses- nounced at the Union Pacific Railro: Company today. F-R-E-E With Every Purchase of $100 or More 42-Piece Set of Decorated - - DINNERWARE. . vltl: mahog- 3 lny finish standard and silic. shade. Ta clase out at this low price— Credit Seat construction, and -Terms, “This Magnifitent Cane Pane Will give you some idea of the remarkable values we are offering right now in our Enlargement Sale. It consists . of three pieces as pictared—Long Settee, Armcb-irmdAmRockerinMnhomyFinish,m- ered with excellent qnahty Tapestry. Velour, Spring includes two handsome pil- lows. - Make your own comparisons tional Suite at our Enlargement Sale price of .. .. ... Easy Credit Terms of this excep- Overstuffed Rocker $16 75 Very eumforhble nnd du- rable; imitation leather covered. E-iuy_ Credit Tcr;lu Fullslze, r.outmum post White Enamel mbnfullmbed,wmyletcmth Easy Credit Terms Drop-Side Couch i Complete With Pad Can be conveniently converted IO Gaaranteed Bargams C redit! Low Prices! Isn’t- This Suite a Beauty? . A’New bining Room Suite, in Jacobean ’ 2o Oak from the period of Queen Anne. It com- prises large Buffet with Mi_rror, large C| Cabinet with grilled panels, Extension Table and Inclosed Serving Table. Specially priced forthe&lhrgementSaleat.............. y ] Living Room by Day Duofold Sulte The suite consists of F-R-EE With Every Purchase of $100 or More 26-Piece Set of Wm. A. Rogers SILVERWARE This l.il‘)rary Table In mabogany finish. Curved legs, magazine shelf md drawer. Special at 31275 Easy Credit Terms ‘Golden Oak Chifforobe Plenty of drawer and cup- board space for hanging clothes. $1050 Easy Credit Terms Rocker—-lmlhhon leather covered OUT OF THE AL FunnumonPAl HICH RENT three pieces—Large Duo-@ 7 5 fold, Armchair and Arm 69. eqy_ CI:dif ]'mvu ) Ml T APy Hogs—Receipts, 3,000 head; steady packing sows, teady; bulk desirable, Com- sheep and feeder YORK, September 10.—Cattle stead: 8.0029.0 Jambs—Receipts, 4.840 Irregular; ewes, 3.00a5,00; culls, ordinary to good state ‘lambs, .300 head; nlendy, LOWER RATES ON LIVE STOCK. 10.—Western nd mules, 20 per cent, effective from September 20 to December 31, 1921, it was an- SUNDAY 'STAR, WASHINGTON D. C, SEPTEMBER 11‘ 1921—PART 1. THE ‘WEEK'S UPWARD TREND: REASONS FOR AND AGAINST Action of the Stock Market Evidently Dis- counts Business Betterments Yet in Em-~ br"yo—s_enfiment Is Much Better. 50 to bs y; BY L A. FLEMING. Sentiment has greatly improved during the past week. A united, con- centrated and yeét not preconcerted campalgn of boost has been in order from shore to shore and from north to south. And it has been effective in turn- ing public opinion into more cheerful channels. What would naturally be looked upom as a serious disaster to the southern cotton-growing states has been one of the chief factors In bringing about the advances in that staple, sensational and startling as they were, but exerting elsewhere an unfavorabie influence, perhaps, as re- ports are already in circulation of the formation of holding companies in the south to retard even the free movement of the promised small crop. Twenty cents a pound for cotton ten ||days ago would have been regarded |§l{as a_godsend by the planters of the south, but today many of them are working for further advances, while the threat to carry much of the crop in storage, if carried out, will leave | millions of frozen cotton loans un-{ thawed, instead of liquidated, as the | bankers supposed would be the case | on_the big advance. Moreover, the “boosting” might carry prices to the point where the spinners would consider it wise to go on a silent strike. Bankers might force the liquidation of long-time | loans. The improvement of conditions in Mexico, 80 far as American industrial Investments therein are concerned, | has been broadly reflected in the New York stock market, which has scored | and held many advances throughout ! {{the list. The action of the market itself has | surprised even its best friends, giv-| ing the short sellers quite a scare: and taking trom them a pinch of their great profits made in nearly a year| of declining markets. Whether the market is discounting | an improvement expected this winter or actual improvement has not rum developed, certain corporations have | ‘[nu!hered the storm; they have cut |down inventories, reduced bank loans | and are operating again, some on more time than others, production varying. The evident intention of the gov- ernment to further afd the railroads has been reflected more in the equip- ment stocks than in the rails them- selves. Railroads g8 on ad are reporting better earnings under the new wage scale and will probably continue in these comparisons, but it must be remem bered that the railroads of the coun- try are not in good shape, that they have been neglecting their usual con- sideration of equipment, maintenance i and ‘depreciation charges in order to make the best showing possible from their decreased earnings. Many of the roads reporting for ||July and some for August show a heavy: loss in their gross earnings |;and convert this to a good gain in {{net through saving on equipment, de- preciation and maintenance. Every one understands this, and therefore the strength and activity in equipment stocks is a natural re- sult of cause and effect. If the rail- roads get sufficiently on their feet to care for the real essentials of their |operating condition, the equipment corporations should have all they can do for many months. New cars, new ; |{1ocomotives, brakes, rails, H sadly needed by nearly all roa ' {{. While the lower operating expenses | have been a great relief to the rail- roads, they have yet to cope with the ' persistent and reiterated demand for {{lower freight and passenger rates.' || The latter would certainly repay the !1various operating companies, for the {high rates of fare have almost elimi- |nated pleasure travel, save for short distances and with that particular i class of travelers with whom money | {is in ample supply and coming as well as gomg. Unemployment is not ended, by any means, neither in Washington nor throughout the country generally, as evidenced by the forthcoming na- tional conference under the auspices of the administration. From this it would seem that the big sdvance in stocks and bonds might be taken to mean a very gen- eral discounting of a betterment ex- pected with the winter months rather than the immediate improvement in conditions.. It is satisfactory from any stand- point to find the New York stock market finally turning at the end of the longest lane Wall street has |{known for .fifty years — perhaps longer—from a prolonged, continued ||and appatently endless slump. || "1f stocks go up, the public will come in and go with them—not on a tem- porary rise. The public is in gover: ment securities and in bonds, and a sustained advance, of which they are not by any. means sure, will bring them back from certificates to stocks, |{but their losses have been so severe that their memories are rather long. As to Tax Legislation. |, More prominent American merchants are moving With 2 unaminity of pur- pose against the “American valuation” plan ‘of the Fordney measure, as they feel that it will be a disturbing factor ml the recovery of business. . i James Simpson, vice president of Mar- shall Field & Co., commenting on this | luture of the Fordney measure, has this | "Vhlle the business of the country is settling. itself into a stride that means a return to stability, there are certain dis- turbing factors arising in Congress that threaten to throw it into confusion. Business today is very sensitive to ob- & N Y i€ ——— /i X l"‘ N [SEST i when iis Ll banutine | assembling machines. stacles, and a gigantic obstacle looms up in the Fordney tariff bill, now before the finance committee of the Senate. | “It is a measure that is not only based | on unsound economics, but will inject { injustice and confusion into an impor- tant division of the country’s business. ‘The bill contains many destructive pro- visions that will place upon the con- sumer the burden of higher prices. “Chief among these objectionable fea- tures is the so-called “American valua- tion plan’ Upon many commoditie: particularly textiles, the bill levies valorem duties. These are computed not upon the foreign market value, as in al previous acts, but upon the ‘wholesale selling price’ at which comparable and competitive goods of domestic manufac- ture are sold to the principal markets or| the United States; or, in cases where no comparable or competitive goods are in { the United States, upon the wholesale selling price of the imported article or other like imported articles ““The ad valorem rates fixed in the bill computed on the American selling price would result in greatly increased duties, and consequently advanced costs, taking many articles out of their normaleprice limits and compelling merchants to fix new price ranges, with a consequent demoralizing effect in business. “The Fordney plan means a revolu- tion in our methods of customs adminis- | tration. It is a step from simplicity to complexity. The accumulated experl- ence of tariff students during the past | hundred years is set aside, to be sup- | planted by a ‘system’ that lacks system. Manufacturers and merchants in trans- acting international businés should be able to estimate with reasonable accu- racy, far in advance, what goods are go- to cost them. International trade is founded on ad- vance orders both for import and ex- port. Our foreign trade is dependent on exchanges of merchandise. It is barter on a grand scale. The absence of un- certainty acts as a stimulant to trade between nations. “The merchant, who must buy his wares six months or a vear in ad-! vance and be compelled to make such purchases with no idea of what some American exporter or manufacturer may think should have been paid for the goods, is placed in a precarious position, is actually prohibited from | trading in foreign goods. Any meas- ure that makes the general buunexg] of importing hazardous, that-will cur- | tail our consumption of foreign goods and increase the price of merchandise manufactured in this country, is a menace to business and to the buy- ing public.” Hive Listened to Opinfon. Unquestionably the members of the Senate_have listened to public opin- ion and private criticism of the Ford- ney measure, and no one can tell in what form the measure will finally emerge to be sent to the conferees, but the chances are that its sponsor in_the House will have some diffi- culty recognizing the document, while the chances are also favorable for its being made effective March 15, 1921. Money Rates Easy. Every one is predicting easy money during the fall and winter, and the chances are that the prediction will be fully realized. The reserve banks are all very strongly fortified and in a position to open the purse strings the Federal Reserve Board gives the word, with intent to accel- erate the recuperation. ° Evidnetly the gentlemen who pre- side over the destines of the system consider the pace at this time fast enough. The Rise in Graphophone. The last two days of the week have been attended with a somewhat sen- sational rise in Columbia Grapho- phone preferred. the gain being also reficcted in the common stock. in a and the preferred to these prices seemed un- ainabie a week ago, and both have been made in the last few hours of | trading on'the New York exchange. So far as news is concerned, there is nothing to account for the rise, but it is none the less welcome to tired shareholders, almost ready to take thelr lossen understood that the company ; but by no means to capacity: that the Baltimore !plant is used for storage and that | the Canadian plant is being used for ; The chances for forced reorganiza- tion are said to have passed. Bank Statements of Condition. Just at this time, before the flood of publications of statements in re- sponse to the call of the controller of the currency, this subject, dis- cussed by Joshua Evans, jr. vice president of the Riggs National Bank is a matter 'of interest. Mr. Evans, speaking before the officers of the Marine School, told explicitly of the forms provided by the controller for the banks, and explained at length each item indicating its importance with reference to the condition of a bank. He said, in part, in closing: “Incorporated banks in the District of Columbia not members of the na- tional banking system are required to make reports of condition to the controller of the curreacy from time te time in substantially the same form submitted by and under similar conditions as those imposed by law upun the national banks. State banks and trust companies outside of the District of Columbia are subject to the laws of the states in which they operate, and they report periodically as calls zre made by the head of the state ban#ing department of their cspective siates. Generally such calls are not as frequent as those re- quired under federal law, nor is the information asked for in as much detail. There 15, however, a pro- nounced spirit of co-oreration exis ing between the office of the con- troller of the currency and those of the state banking departments. . . “Simulteneous examinations, when ! ance of heat pliable to - TOLMANIZE! Tolman Laundry F. W. MACKENZIE, Manager Co;ner 6th and C Streets N.W. iment, the anc Yand ‘bears Starch Your Day Ri gh o ITH a starched collar that feels as good as it looks. TOLMANIZED into defi- . Our special process means \ elower wilt and longer life. Just phone Franklin 71 TOLMANIZE! considered desirable, of national and state Institutions and occasional calls for statements of condition by the rational and state officials as of the same date are distinct evidences of the operation of this policy. “Simultaneous examaations are made with a view of correcting or preventing practices which frequentiy would jeopardize the funds of de- positors and cause loss to the stock Lolders. Simultaneous calls for re. ports enable the czollecting of ac curate statistical data with the minimum _of labor. “State banks and trust companics which are members of the federal reserve system are required by fed. eral law to make three reports an- nually to the Federal Reserve Board, each report to be made not later than two days from receipt of the call. Such calls are usually so timed that the report is of the date for which the state authority issues a call, S0 that little additional work falls upon the bank. However, failure to make such reports within ten days after the date they are called for subjects the bank to a penalty of $100 adsy Soreach Oy jthat 1t falls o nsmit such report; such penalty to be conlected by the federal reserve bank by suit or otherwise. “While the scope of the business done by a banking institution is gov- erned by the laws under which it obtains its charter, the statement of a national bank to the controller must be made not less than five times a year. Bank Tramsit Item: In the same course Robert V. Flem- ing, vice president and cashier of the’ Riggs National Bank, handling a subject with which he is very familiar, paid his compliments to the collection system of the federal re- as follows: mately thirty thousand banks bankers of the United States, roundly twenty-eight thousand are on the par list of the inter-district collec- tion system, which leaves approxi- mately 7 per cent of the banks and bankers of the United States on whom checks cannot be collected at par through the federal reserve banks. The majority. of these outside banks are located in the cities of North and South Carolina. “In addition, the funds of the coun- try under the present system are very much more mobile than under the old systems. Cifies arc brought closer to- gether, and in the numerous financial transactions betwecn individuals and which are dail e country e far as ze of our develop- i troubl under the prese .t ments of exj “Improveme: t as distributio’ needs all the e bear upon the for it is of 1 the fruits o fairly. distr’ Mr Flemi lectures b officials th on the fed ~ \D7ISIONS. GRAIN CHICAGO. 10. — Wheat prices turned -ade today after a six-day _-Heavy profit- taking, toe: export call, ¥ siowness of wh to do with the reaction. C quotations were weak, 2% to i, net lower, with cémber 1,321 0 1.32% and May 1373 to 1.35. Corn lest % fo 115 and oats % to %a%. gn provisioms the out- come varied from 10 decline to a like advanoe. At first the wheat market displayed considerable fresh strength, so much 80 that May delivery reached the highest point yet this season. The chief bullish fac‘or appeared to be a new upturn in the value of cotton and stocks. Buying of wh a-, howev less aggressive than of late. and th's circumstance gave imnctus to holders’ €fforts to realize profits. Canadian railroad embargo's azainst grain shipments from Georgian ba to Montreal tended :u'so cert bulls. Then 2 tention shifted to an apparent compl."e pause in ex- port business. and «t the last but It- tle rallying pow r was evidence W v the oppor- tunity to emphasize anew various un- favorable aspects of the financial situation in Europe Corn even more than wheat bearishly affected by the Canadian railroad “embarrocs. Besdrs, coontry offerings of corn were on a large scale. Oats merely reflected the ac- tion of other cereals. Provisions moved upward as a re. sult of demand for lard, but pa selling acted later as something counterbalance. Subsequently. was o % cents net lower, with D 1.32% 1.32% and May 1. Cash wheam mixed, 553 Oats—No. 2 #n 37%a38%,. Ry ley, nominal. y seed. Clover seed, 12.00218.00. inal. Lard, 11.10. Ribs, 8.50a% Offerings of corn from the country were on a large scale. The market closed % to 1%c lower, with Decem- ber 54% to 55. NEW YORK. September 10.—Corn- meal—Dul and yellow Wheat—Spot. : No. 2 hard. 6012 and No. 3, and No. 2 mixed, ten-day shipment. Oats—Spot. steady Lard—Barely steady: SHORT LINE BAILWA_Y SOLD. NASHVILLE, Tenn., September 10.— The Middle Tennessee railroad. a short line running from Ranklin to Mount Pleasant. was sold at the former place today at auction, a representa- tive of the bondholders getting the property_on a bid of $300,000. The purchasers said they had perfected no plans for the road's future. ] > ) . yet soft and the touch. ) 4