Evening Star Newspaper, September 25, 1921, Page 34

/rke Women's City Club will hold its board of directors meeting tomor- row evening at & o'clock, at which plaits will be made for the celebrat- ing of the second anniversary of ac- quiring the clubhouse. The use of the club and the co-operation of its mem- bers during the coming armament conference have been offered to the State ‘Department: Mrs. Swormstedt and Judge Mary O'Toole have been appointed as members of the citi- zens' committee for the conference. Minor alteratfons and improvements are going forward rapidly—the din- ing room will soon be kept open for the service of luncheons. A card party under the auspices of the entertainment committee will be held Saturday evening at 8 o'clock, the proceeds to be used for the enter- tainment committee. Tickets can be obtained at the office or from mem- hers of the entertainent committee. Mrs. Mary C. Dasheill Johnson, chair- man. The monthly forum luncheon Saturday, was a declded success, there being more than one hundred present. Amitje Club accepted the invitation from the Daughters of Isabella to at- tend thelr dance Wednesday evening. Applications for eleven new members were approved. Adoiph J. Fugitt, Ed- ward McDonald, Albert Reley, Agnes Driscoll 4nd Catherine Harrington were appointed on the commitiee to arrange for weekly games of the bowling teams that are being formed in the club. Games will be plaved at 0 NEWS OF THE CLUBS regent 48 peai i New Englan guests included national and state officers and chaptes regents. . pfiu“:u ; ; The Mis, Ellen Spencer Mul met Monday. There wery the pertormance, | dates for initiatlon. - Rosdlle McKoe ;| Shelton was elgete rioti¢ instruc- “Cathleen Ni Houlthan prosented 4| soc o seive fhe Fomatnadr ot the the Central High Community Center. year,Mrs.Shelton has bedn eledtéa dele- Miss Margaret Costello, vice president Yate to the-national tonvention to bs of the club took an active part in the im at Indianapolis. Next meeting rlly. which was being produced by|will be October 8, at whith time re- he Dramatic and Musical Guild,|ports of convention will be read. Washifigton District Council, National « Courncil of Catholic Men. Abigail Hartman Rice Chapter, D. A. R., met at the home of the vice Wednesday the club will hold_its Ser!emher dance in St. Peter's Hall, 31 regent,. Miss P. Slaughter Monday evening. Planis were made for'a bene- E street southeast. It will be for fit card party ‘to be given the last the benefit of the club. & .}I eon::n::lu-e has been arranged for all activities. week of Octobef. Arrangements were President Francis McCann -has been| made for the completion of the chap- honofed by Carroll Council, Knights| ter vear book, which is to be pub- a{ xCulumhun, by being elected grand|jighed in November. After business the knight of the Councll for the coming | following program was rendered: year. [This is the highest office in the |Songs, Misa May K. Little; piano solos, 2 lhlluu goénllhy lj(mg: mi:g!' Mrs.‘ Wil- inter. ] i m P, Doing, jr. A gaime was played. Our Flag Ohipter, D. A. R, at its| \oe “Horothy *Burns - assisted Miss recent opening meeting unanimously Slaughter in entertaining. indorsed Mrs. Ellén Spencer Mussey as 4 member of the advisory council of the limitation of armaments con- ference. It was also decided to em- body a study of our international re- lations with the nations to be. rep- resented at the conference in the pro- gram of winter study. Exercises in honor of the Constitution were held. A paper on the history of the Constis tution was read by Mrs. Edward M. Weeks. Mrs. L. D. Carman; regent, gave & sketch of the signers of the Constitution and exhibited autographs of many. Mre. Mussey spoke on so: clal welfare under the Constitution. Mrs. Howard L. Hodgklins read appro- priate selections. Mrs. Clair, wate The Was) ;nsat at the :College. Women' 8. I _street, Tuesday evening at 8 o'clock. The ¢club is returning to its old héadquarters, where it ‘will hold its eight regular meetings for the year. The theme 7ha t which the pflg?lm will center oetry of ‘18 Never Dead:" Thé paper of the even- ing will be an appreciation of Dante, given by Prof. Charles S. Richard- 86n. Some of Dants's ‘sontiets will be given by Willey O. Ison, and seles- the Recreation bowling alleys every Friday evening. - The club_attend cduntries than Italy will bg{xlve a8 follows: England, Mrs, Eva Hufd Wil lis; Prance, Mrs. Edith C. Hamllton Scotland, Miss Kate S. Curry; Russia, Prof. Edward C. Townsend, and Iré- land, Mrs. William E. Chamberlin. The ptficers and board of the club are as follows: President, Mrs. Sarah Mor- rison Smith; vice president Claude N. Bennett; recording secretdry, Mrs. William' E. Chamberlin; correspond- Ing secretary, Mrs. Constance Good- man; treasurer, Prof. Edward C. Townsend; program committee. Mrs. Emily French' Barnes, chairman: Mra. Maude Lee Hunt, Mrs. Bthel Randal, Miss Ema A. Jordan, Willey ‘O. Ison. Press committee, Mrs. William T hamberlin. Membership committes, rs. Willey O. Isen, chairman; Miss Kate 8. Curry, Mrs. Edith C. Hamilton. Pettvorth Woman's Clab. The coth- mittee on October festival is going for- ward with plans for 4 harvest suppor ahd bazaar for October 26. The lit- erary committee -met BSeptember 12, when Mrs. Phelps, Mrs. Campbell, Mrk, Créech and Mrs. Beckett read papers on Argentina. Mrs. Knox gave a sum- tary of current topics. September 13, the music committes met ‘with Mrs. Wood. September 19 the educational committée met with _Catholle Fraternity: The supreme convention committee met Wednesday with Mrs. Rose Lingeback. It was an- nounced that members of the local as- emblies will meet at the achool hall, th and N streets at 9:30 am., Octo- ber 12, and march to the Church of the Immaculate Concéption, where mass will be celebrated at 10 o'clock, Rev. J. Hurney, as chaplain, will deliver the germon. As chairman, ‘Father Hurmey has promised to secure for the dramatic éircle the services of the best coach of amateur theatricals in the city for its first play. Miss Stella Simopton is chairman of the dramatic committée of the St Rita Assebly and Georg With Every Purchase of $100 or More 42-Piece Set of Decorated $29.75 All the made Kitehen Cabinéts included at this remarkably price. Box $2.98 atting Chifforobe apace. Easy Credit Terms Kitchen Cabinet aMor-savirs that Rave famous are Sow Library Table ‘This one is in Mahogany finish— It’s a beauty and only $12.75 Pleaty of drawer and cupboard $19.50 th son wil tlons from the literatures of other| Lod tie,- when Mikd a general review e 4 nt of the District, witl qvornm rélation The home committes Utley September 16, et with . 1i addre; The llolllt. ed.at the home of Tincher tee announees & picn with all members of the invited. the welfare work planned. E_B. Russ. ter Dowey, and hecdlework, Lunch will be served at 12 The “Feanels Wallls” Chapter, Smythe Wallls, Va. Being appropriate exercises Thomas Cherrydale, day, the' b general expense. membership selected. yice president of spots, especially the District F-REE With Every Purchase of $100 or More 26-Piece Set of Wm. A. Rogers WA’SHINGTON. Let us prove it ing Our Enlargement Sale. : ‘ . (a0 FONEEmANE) f S N Junk Aarivid < This New Suite for the. Bedroom Finished in Mahogany Beautifully finished of selected woods and comprising Large Dresser, Toilet Table, Chiff. igr and full size Cane Panel Metal Bed, in $ fifhogmy Finish. If you want Big Value in an attractive suite at a very low price this bar- [ ) A gain will appeal to you. Seeitatonce.......... Easy Credit Terms. = A New Cane-Panel Suite in Mahogany Finish It consists of three pieces as pictured—Long Settee, Armchair and Arm Rocker, covered with excellent quality Velour, Spring Seat construc- tion, and includes two some pillows. Mn!n your own comparison of this exceptional suite at_our Enlargement Sale price of. ... Th%s Qileen Anne Dining‘ Room. Suite Will Add Distinction to Your Home Table. Golden Oak Finish. A beauitiful Of fine construction and carefully match- : S e suite and very specially priced at........ . ; ed woods, consisting of Buffet, Inclosed Server, China Cabinet and Round Extension 'Easy Credit Terms ouT OF THE JOWAL FuRniTuRE ConpAN] HICR RENT an SILVERWARE “The Service we give---the Satisfaction you get---the Low Prices; the Liberal Credit Terms; the Bargains---all combine in FURNITURE VALUE ABSO- LUTELY UNEQUALED IN now Dur- Rugs in a great display of handsome patterns and exceptional values. As an example: 9x12 Tapestry ‘Brussels Rugs $14.75 Easy Credit Terms Drop-Side Crib Strongly constructed of metal, white enamel fin- i.h,. drop side; including spring. ° $7.75 Easy Credit Terms ‘Many handsome styles to select from, all com- plete with mahogany-fin- ish standard and silk shade. Special, - $16.75 1l ts| oh “Search for an Ancestor,” o the federal goverhment. when nutritfon was the subject under discussion. This committee will have charge of the en teftainment of the club.in October, and 1 ip expected that Dr. Bdwin B. Blos- the meémbers October ality committes antertain- M Bep- tember 15. On October *I the commits c. to Vacatl el ‘ Tuesday afterhoon, September 27, the art committee wiil meet with Mra. 3] ketry, under Mrs. Lys- g under Mts. Carrie Defandorf, will be started. D. A R., met at the home of the regent, Mra. Ellenwood, Dreee ness: meeting. 1t was decided to glve an entertainment shortly for as the firat $50 for has ‘been pledged for a student loah fund. It was voted to give a gold medal f6r the best his- forical essay on a revolutionary sub- ject in the schools at Cherrydale. A committee was chosen to co-operate with the District In its Americaniza- don work, and other committees were Miss Blanche §. Torreyson, second Fairfax County Chapter, and guést of the evening, told of the work of marking hl-u;lrh: mile- I’ 13 ‘The - philanthropic committee met with with Ms. Grifith Evans, Septems ber 20, when garments were cut and nice B + and an lflllll? 3 i completed half =& rs, and illlam Dotiglas Topley, rogram, gll- this chaptér is onl ar 0ld, it has twehty mem Illl have ten or more ready Zor ac- cpptance at: the next board meeting of the Natlotial Soele((. rs. Wallls, regent, state chairman oF ‘internationsl relations, will rep- résént this néw chapter at the twenty-fifth Virginia staté conference ap i’uupoke, October 5 and 8. ! W. ©, T. U—The state executive of the. union met at 622 6th street, Wednenday in an ali-d; sion. Isabella W. Parks, president of 1fne Unlon presided in the abserce of the, president, Mrs. Emma Sanford Shelton, It was voted to hold the annual election of officers early in November, ! Thé program commiftee appointed were: Mrs. Francis A. 8t. Clair, Mra. 1ds-M. Brimér and Mrs. . 8. Henry. Mra. B. B Clark, was given the right 19 organize a union in-Chevy Chase. Mrs. T, A. Willlama stated the need for 'a membership drive and it was vbted to hold & meeting of all the nrehidents of the unions to arrange for )| the drive; Mrs. 8. H. Willey reported on thé third anniversary in com- memoration of the battle of Belleau Wood, which was heid at Marine bar- rachs. The Tekakwitha Club, an auxiliary of the bureau of Catholic Indian Mis- stons, ga¥e its fifst dance Thursday evening. at §01 E strect. The next én- tertainment-{s -announced for Hallo- ween, at the same address. HEADS FIRE MARSHALS. Rutledge of Michigan Elected President of National Association. CHATTANOOGA, Tenn., September 24—Homer Rutledge. fire marshal of the state of Michigan. was elected president of the Fire Marshals' Asso- clation of North America at the con- cluding session of the annual conven- tion here today.- Other officers named were Newman T. Millet of Indiana, vice president; L. T. Hussey of Kansas, secretary and treasurer; former President J. A. Tracey of Jowa, and W. M. Van Kamp, insurance commissioner of South De- kota, members of the executive com- mittee. Selection of the next conven- tion city was left to the executive committee. ——— MURDER TRIAL OPENS. COOKEVILLE, Tenn., September 24. —Ben Austin, charged with Kkilling Domerfco Malener, former young | lian soldier, near Ravenscroft, last | ebruary, Is on trial in eclrcuit court here, and the case Is expected to con- tinué for several days. It is the theory of the state that the motive for the Kkilling was robbery, Maleneri having been known to have a larme sum of money on his_person when he disappeared. COFFEE MARKET. NEW YORK, September 24.—The better tone which has been apparent in the market for coffee futures since it was reported that Brasil was buy- ing Victoria coffees under the valori- zation plap became more pronounced this morniag. The opening was 7 to 9 points higher, with active months later showing net advances of 8 to 18| points, and with December contracts selling at 7.86 or into new high ground for the season. This made an advance of about 113 points from the low level of last August, and appear- ed to attract some realizing, as the iclose was 3 or 4 points off from the best. Trade Interests were credited with buying against the improved de- mand recently reported in the spot market. The market closed 5 to 11 points net higher. Sales were estimated at about 40,750 bags. September and {October, 7.54; December, 7.8: ary, 9; March, 8.01; May, July, 8.29. ° A — NEW YORK BOND LIST. NEW_YORK, September 24. coupon. | Panama s, registered | Panama 3s, American Smelti | Atchisda gen. 4s. H Atlanuié Coast Line 1st & R. L. and Pacific Ry. ref. 4s. Chicago aad Northwestern gen. Os. Chili chll(r col. trust 6s. . T3% City of Paris 6. 6 | Colorado and Southern ref. T | d Rio Grinde consol o wen. 4. General Electric 3s. Great Northern 1st 415 Tilinals Central ref. 4s. Loy erborough Bapid Transit 5% Mercantile 8 361 £3% | 6414 ! lg% 51% | . 104 85 o884 | | '.’!al *37 S 1 Dol Doeng Republic St. Louis and San Francisco adj. Beabonrd Alr Line adj. 5s. Southern Bell Tel. Unlon Pac! United Kingdom Uni " States . Virginia-Carolina Chemical Wabash 1st. Wilson & Co. cv. 6s.. *Bid. Up to and In Bales. 12,000—C. and P. Telephope 1st Gs. 214,500—Capltal Traction t 5 2,000—City and Suburban Ry. 1st 58 73,000—Georgetobwn Gas’ Light 1st 53 24,000—Metropolitan R. R. 1st 5 44,000—Pot. Elec. Power 1st 58 110,000—Pot. Elec. Power cons. bs. 32,000—Pot. Elec. Power deb. €s 158,900—Pot. Elec. Power gen. §8. 3,000—Wash., ,Alex. and Mt. Ver. &s. 133,700—Wash. Gas Light gen. Ss... 267, . and Elec. con. 10¢ 162,000—Wash. Gas T%s. A 5,000—Riggs Realty (long) bs.. 100—D, .658. . . Shar STOCKS. 3730—Capital Traction B teamboat i Niash. Ry, 'and Elso. ¢o ‘ The Year 1921 to Date on the Washingto: Stock Exchange : Furnished by W. B. Hibba & Co., Hibbs Bullding. uding Friday, September I3, 1821, BONDS. 18,000—Ana. and Potomac River R. R. 58. #x BANKING DEMANDS A i AND UNQUESTIONED HONESTY No Royal Path to Wealth and Ease. Shareholders, Depositors, and Com- munity Must BY Y. A. FLEMING. Capital necessary to the opening of a bank has been subscribed by a 8roup of men and perhaps some Womeén—maybe there has been a rush for the stock, as there certainly was for one or two of the successful banks of today when they were in the stock-selling stage. In any event, when the money for the capital is subseribed and paid in, a location selected, officers agrecd upon and nll ready for the doors to open, bank officials should give much thought to their shareholders. The latter have suficient confidence in the bank’s officials to trust them with the needed cazh to give it the réquired capital. he management of that capital requires caution, prudence and a fecl- ing of personal responsibility on the part of every man authorized to lend a dollar of it. As a first lesson in finance, purchase of a poor note at any price is a mighty poor bargain, even if you have a chance of collec it. Equally important bank officials realize that of personal aggrandizement consideration for the accep note, even if is the beginning of a many a sad e wuch action 3 the loan was “iaking no chanc Men with high credit rating, men with collateral or known and actual market value, do not h, to put their hands behind their backs when asking for accommodations, nor add plus to the regular going rates of interest. Bympathy has small place in the banking business. It may have large place in the heart of the bank official, but on general principles policy to be generous with other peo- ple’'s money. This does not mean that a worthy debtor should not be treated with due consideration, that every possible aid within reason should not be extended to a customer in the cur- tailing or liquidation of loans, but in the making of loans eympathy should not be a factor. The good business man wants actual dollars or certified checks from the man who has slipped. The banker who will take chances with a borrower who has put it over on aenother bank or banker will re- ceive a small meed of sympathy should history repeat itself. That he will receive what he is en- titled to for taking a dangerous chance—a more or less serlous loss— is_more than probable. When a bank has opened its doors and is taking in the dollars of the public and of its friends and the friends of the officers, bank officials have another sacred duty, that of caring for the money of their de- positors. Laws have been made for the treat- ment of part of this money and good banking methods dictate other rules that will go further than the legal requlrements. Clearing house privileges are needed to glve good standing to checks, else would they have to be paid over the counter, not a pleasant way of doing banking of a commercial character. The member bank through which the new institution would clear will look after its own welfare and the clearing house will guard its members. Generally speaking, the bank that hae been in business many years has a large number of questionable loans and_investments, perhaps gradually working out, or it may be that the bank managemert, If aggressive. has depleted its surpius to clean its slate, relying o nfuture efforts to salvage what it may from the los This Policy Frequently Pays. New bunks have or should have a clean slate, no debts, no promises to do this or that, and now that the investment situation is more normal they should not run easily into the losing stage through bad invest- ments. Watch your loans. Better that the annual returns should not be as large, and that the principal and in- terest should be safely secured and gathered hLome occasionally. A bank has & third duty to the community in which it exists, in which it gathers in deposits and does business. The furtherance, if possible, of every sound enterprise in the location, some one possessed Of needed information on financial and o understad se- rnment financial operations, etc, and to have good connections at home and cities for his customers’ use. Speculation is the last thing a banker should think of, even with his own money, on a “sure thing” or therwise, for it leads to temptation nd is the friend of defalcation. In banking a reputation, long lived up to, is an asset worth while. The banking business is no broad highway to wealth and ease. Some of our good citizens have walked the paths through to success after years of effort, but to the most conservative, the most able, there come times when the question of policy is hard to solve and other times when the actions of others, for which they are in no way to blame, fiiva them sleepless nights and worrled days. i Any one recalling that night in No- vember, 1913, when the former United States Trust Company passed from its stockholders' control, will realize that the banker's pathway is frequently narrow and rough, and the same k:“d of a memory will carry one over the many panicky days of the last half century, now probably gone forever, the 95—Firemen’s Fire Insurance.. ' §—National Union Fire Insurance. 4 7 7 7 23—Real Estate Title Insurance. 90 7 90 @ af- B : $30—Col. Grapho. pfd. c2 1,182—Mergenthaler Linotype ... 122 17 118 '100—Old Dutch Market pfd.. 7 1 8% 71 72 213 212 2 28 ” 28 it is poor| in other|1 Be Considered. thanks to the federal reserve banking ac! D. Crissinger, controller of the currency, has taken a laudable stand in the matter of the granting of char- ters to new banks. If the field is occupied, if there is palpably no need or demand for an- other hank in a city or a neighbor- hood, he refuses to give a charter to an applicant. He has refused a large f applications, generally tak rord of the bank exam: rict rega: for additiona ani under &tate charters ad 1ib. and the C! of the currency has nothing v regarding them. In Washir ton, fortunately, the controiler has surveillance of all bank tional and t there are ngton, but ns need not worry of taking a worth count from one b: to not performed every da eck, and the other kind not suficiently pro arrant any serious attemj of bank must go far Lefore it sends shafts of sunshine the windows, with profits worth wh A few fixtur nd es. a desk. typewriter, bookkeeper and a ro- ing teller do not make ceivi anl. Brains, character, a record for mplishment, ence in minor gradual e and pi N e a the estublishment of & reputation for upr ghtness, ability with the proper bus and the needed capital, m: time for a mecasure of succese. A banker should be trained to the business. May Lonm on Real Estate. Under section 24 of the federal | serve act, national banks may ma loans of real estate for one year up to 50 per cent of the assessed valua- tion of the property. This section of the reserve act will enable a property owner to make & tmoocrary loan on property, when necessary, or when the going interest rates are likely to come down within a year or less and a long-term loan does not look expecially inviting. The Payment of a Check. Arguments, pro and con, have ber going on for many days on the ques- tion of pavment of checks hefore an:l after bLanking hours. Frequently checks given for gambling losse have been paid just ahead of the ap pearance of the maker with intent to stop payment. Not Infrequently the payment on checks of this character have been stopped. and many checks are dis honored on the advice of the maker. for diverse reasons. Judge Paton, the very able counsel of the American Bankers' Association, | has decided the question of how and when 4 bank may cash a check, leav- ing it entirely at the option of the banker, g0 long as it is cashed, if presented in business hours, but it imay be cashed at the option of the banker before or after business hours. This i a broad interpretation of the law in the case, although the conservative banker will hesitate to | take advantage of the right to make yment out of regular business {hours, unless there is mighty good ireason therefor. Multum in Parve. When the to-let sign is put up in {the League of Nations headquarters, the logical new tenant will be the Anti-Saloon League."—Exchange. The Rafirond Sicuntion, The Guaranty Trust Co. of New York “city has been facing facts lately and dares to tell the truth on other mat- ters as well In its review of the railroad situ- ation it calls attention to the fact that larger net earnings of the rail- roads of the country for the last few months do not mean that railroads are on a profitable basis, “for they are not. Attention is then called to the fact that apparent betterment is the result of drastic economies in operating ex- penses, reduction in working forces and the postponement of repairs and maintenance. It is estimated “that . the total deferred maintenance item 'amounts on ways and structures to 185 00,000 and on structures to 1§175,000.000. The freight carried by he roads during the first six months iof the year amounted to 780,600, !tens, as contrasted with 1.020.00 itons di the corresponding period Fewer passengers were it_shouid not be forgotten . despite efforts of railroads to increase by every possible means their net earnings, they are not mak- ing, by a considerable margin, the 51> per cent return, as contempiated by the transportation act, on the Inter- state Commerce Commission's tenta- tive valuation of their properties.” The revi suggests as the best vailable to unemployment “funding of the existing indebtc&ness of the railroad companies on account jof capital expenditures while the rail- {roads were under federal control. This would give the roads §500.000.600 1and would materially improve their !financisl position and make possible much needed expenditures for main- {Tehance, improvements and expan- ! sion. —_— :NEW YORK BANK STATEMENT ' NEW YORK, September 24.—The actual condition of L‘l!fl‘rlh“ ho?;z- ibanks and trust companies for ! week shows that they hold $32.658,930 reserve in excess of legal require- ments. This is a decrease of $21,966.- 310 from last week. ‘The statement Actual condition: Loans, discounts, etc., $4,411,753,000; increase. $5,302,000. Cash in own vaults, members Fed- eral Reserve Bank, $70,004,000; in- rease, $762.000. o Raeberi'o in Federal Reserve Bank of member banks, $493,939,000; de- se, $31,579,000. cr;{n;servr‘ in own vaults, state banks and trust companies, $8,826,000; in- crease, $147,000. ¥ Reserve in depositaries. state banks and trust companies, $8,964,000; in- se, $743,000. cr;Petedemm\d deposits, $3.619,843,000; decrease, $68,110,000; U. S. deposits de- ducted, $222,519,000. Time deposits, $217,252,000; increase, 2,008,000 ‘ $32,389,000; 66,000. Aggregate reserve, $511,729,000. Excess reserve, $82,658,930; decrease, $21,966,310. Summary of state banks and trust companies in Greater New York not included in clearing house statement: Loans, discounts, etc., §6 increase, $10,808,700. Gold, $6.669,000; Currency and bank notes, § 800; decrease, $448,600. Deposits with Federal Reserve Bank of New York, $51,627,100; de- crease, $1,539,600. ‘Total deposits, $652,759,000; increase, $15,387,000. ° 5 Do: Eliminating amounts due from reserve depositaries and other banks and trust companies in New York city and U. S. deposits, $395,561,100; in- crease, $4,539,600. Banks—Cash in vault, $25,330,200. Trust companies—Cash In vault, $49,011,800. VERDICT IN LABOR WAR CASE. WILLIAMSON, W. Va. September 24—J. W. McCoy, on trial here in connection with the shooting of Harry Staton during the general firing along Tug river May 12 last, was convicted of first degree murder today. The jury added a recom- mendation for mercy to its verdict. It is the first conviction growing out of the indi ‘wartare in g0 , county. - follows. increase, »