Evening Star Newspaper, December 10, 1921, Page 16

AL. FINANCI PROBLEMS THAT WERE MENACE WORKING OUT OWN SOLUTION Unemployment and Housing in New York —_— LOCAL SECURIIES WERE LESS ACTIVE had dropped to less than a third of the total of a year ago. Good exrort demand for corn did & od ds to steady corn and oats. rike troubles tended to res! RAINS AND RECEIPTS SEND WHEAT PRICES DOWN/ CHICAGO, December 10.—Rellef from drought in the southwest has brought about a mnaterial setbick in wheat prices this week. Compared with a week ago, the wheat market Stock Market Shows Notable Absdrptive d triot trad- ing in provisions and to make quo- tations irregulai ' UNIQUE DRAWING BOARD. NEW YORK, December 10.—A de. this morning was down 1% cents to 51 cents a bushel, with corn un- changed to % lower, oats unchanged and provisions varying ts decline to 37 cents ad- to oft from 35 cen vice attracting great interest as a child’s gift 1s being shown in the form of a large drawing board, to which is attached a mechanism by, which a child may reproduce in en- vance. Increased offerings of wheat from southwestern sources became quickly apparent after reports arrived telling of rain and snow over parts of Kan- ®mas, Oklahoma and Texas, states in which lack of moisture had of late Leen persistent. As a result July. a new crop months, w: bearishly af- fected in particular and touched a new low price record for the season. Meanwhile, gossip about heavy Jap. anese buying failed to stimulate val and the market proved un- ponsive also to assertions that Germany would obtain a respite from | cash_indemnity payments. Poor de-| mand for wheat and flour at Minnea- polis and Kansas City and a big bank fallure in Germany acted as a fur- ther weight on values. but were sub: larged size any picture which he may desire to copy. The pictures may be reproduced in pencil, crayon or water colors on paper and on_ blackboard. The drawing to be copied is attached at the top of the drawing board and by means of three different lengths of wood attached to each other an ex- act and enlarged reproduction of the picture being drawn can be made on the paper attached below. SECOND DROP THIS ¥EAR. RICHMOND, Va., December 10.—The board of directors of the Federal Re- serve Bank of Richmond have author- ized a reduction In the discount rate from 53 to § per cent. This is the sec- ond reduction this year, the 6 per cent rate, effective the first of the year, hav- ing been reduced to 53 per cent about three months xport demand and sh stocks of wheat 115c a Day and 5c¢ Sunday The Star delivered by regular carrier to your home every evening and Sunday morning for 60 cents a month costs you about 1% cents a day and 5 cents Sundays. Telephone Main 5000 and “Delivery Will Start at Once ~ COLONIAL HOMES INSPECT Price 13TH AND SPRING ROAD N.W. Take 14th Street cars to Spring Road and walk east one square or phone us for auto. $1,000 CASH—BALANCE, $75.00 MONTHLY INCLUDING ALL INTEREST Six Rooms and Bath Hot-Water Heat Electric Lights Large Lots to Alley Large Porches, front and rear Window Shades Side-Oven Gas Ranges Plenty Room for Gardens, Garages and Flowers OPEN SUNDAYS AND EVENINGS A New Woodley Park Home 2701 Woodley Par Open and Lighted Sunday and Every Night Until 9 P.M. Beautiful Semi-Detached House in Exclusive District—Opposite Wardman Park Inn This house was built by W. C. & A. N. Miller, recog- nized as one of the best firms in the city. It was planned and built in a particular way for par- ticular people. *Brand new, and just completed, it is ready for immediate occupancy. Eight large rooms and two baths, equipped with latest bathroom fixtures. A feal open fireplace in the living room and side_wall lights. Best grade oak floors ‘throughout; inclosed breakfast and sleeping porches. Two-car garage. ; CKEEVER ¢GOS .”M 1405 Eye S¢§ NW. Main 4752 Members of the Washington Real Estate Board ervica Power and Offerings Are Taken Readilye Bonds Still Hold Center of Stage.. BY STUART P. WEST. Special Dispateh to The Btar. NEW YORK, December 10.—In both investment and speculative mar- kets & noticehble slackening of in- terest has occurred this week. Trad- ing has fallen off in volume and prices have moved about unevenly without any general tendency one way or the other. The reasons for the slow-down in bonds are quite different from those in stocks. The bond market, after its 10-point rise of the autumn, feels that a good deal has been done toward measur- ing the fall in interest.rates and the generally comfortable outlook for the money market. It is stopping, moreover, to digest the large capital flotations which investors have been called upon to absorb. It will be re- called that these new issues were at their record high in 1919 and that the 1930 total was scarcely an; During the first six months of 1921, however, when every nepve was being strained to prevent the threa ened banking crisis, would-be cor- porate borrowers were discouraged quite as much as individual appli- cants.for credit. As a result, new security offerings ‘were comparatively small during th! period, but some idea of the magni- tude of new financings from July on may be gained from the fact that, notwithstanding this. the total of new flotations for the ten months ended October 1 was very little less than that in the two record-breaking years befor It was $3,311,000,000 for 1, as against $3,502,000,000 for 1920 and $3,630,000,000 for 1919. This indicates the unusual strain upon the investment resources of the country which has been occurring in recent months. Market Absorbs Readily. As yet the stage of saturation has not been reached. In fact, nothing has been more impressive than the the market took this week the $16,000.000 Oregon Short Line bonds put out on little better than a 5% per cent basis. But the fear is that later on even the enormous supply of in- vestment capital will be overtaxed, and the check to the risin§ tendency in the bond market this week un doubtedly, reflects some such premo- nition. With the stock market the case is STOCK TRADING EASES; REACTION IS MODERATE NEW YORK, December 10.—Trad- ing in stocks and bonds eased per- ceptibly this week and with the slow- ing down of operations came an ir- regular but moderate reaction of prices. Steels and equipments again were sustained on the prospects of a mer- | ger of several of those companies, | but the industrial situation as a !l whole disclosed no material change from the recent period of inertia. Investment conditions retained all of their strong undertone, however, as evidenced by the successful flota- | | tion of various new underwritings |ihe low level of November 12. If there has been ahy change of sentiment as which in the aggregate absorbed large amount of fluid capital. The turn into December occasioned a temporary tightening of money rates, call loans rising to 6 per cent. Tais was neutralized by more liber: offerings of time funds, including commercial paper, in which conces- sions were'made on prime collateral Developments in the Irish and Ge: man situations were reflected in al- most all European exchange rate: British bills Tose to their best quot: tion in over two years, the Swiss rate resumed its pre-war parity and | persistent reports of a revision of | Germany’s indemnity payments con- | tributed to the firmness of rates on that country. & NEATER GLASSES FAVORED. NEW YORK, December 10.—An in- creasing tendency toward an appre- ciation on 'the part of the public for neater appearing glasses is rapldly displacing heavier shell glasses, ac- t is sald to be tention being giv- in style with the place where and the time when being worn. One authority states that it is Just as improper to wear one type of glass in the theater, to business or at a reception as it would be to appear in evening clothes in the afternoon. One dealer reports that the rimle style is emplacing heavy shell v, rieties. I | | i | Wide awake young man as Manager of In- surance Depart- ment in large Real Estate of- fice. Must be ex- perienced. Address = I Buy and Sell High-Class Houses Apartments and Business Properties What Have You to Sell Real Estate Insurance Main 366 Dr. Teeple Charged 34 Dis- | ments difterent. _Speculative sentiment has ‘because of the extent of the nce the first week in September, 150 because of the reminder that t half of December has often t been & period of d.cllmln X n rh and al the fir in the pas prices. The reaction, however, whi professional Wall street b Eredlclln‘ for nearly as not yet come. There are thre underlying factors in the market s! uation, each of which afferds a solid ground of support. One is the invest- ment overflow from the bond marki The second is the most abundant time money supply at the lowest rates in recent years. This is enablinx specu- lative cliques to go ahead with con- fidence, since not onlr is credit easy, but more is taken in on dividends than goes out in the shape of inter- est at the banks. The third is the quietly cheerful feeling regarding the trade outlook for 1922—the belief that in most lines it will be a year of fair business volume and moderate profits. Foreign Exchanges Recover. This week's further recovery in the foreign exchanges has been in- fluenced by the favorable outlook for a final settlement of the Irish ques- tion. But still more has it had to do with they negotiations going on behind the scenes for a new method of effecting German reparations payments. The rise, within fort- night, of rly a cent in French francs is the most significant move- ment of any. It cannot be set down to any imprgvement in the French foreign tradl; on the contrary, the first time in nearly a year Fi imports are now running ahead of exports. What it means undoubtedly is that there s no longer the same fear of a German default that there was up to a few weeks ago. Doubtless the rise in sterling to around $4.10, the highest in over two years, is g reflection of the Ger- man negotiations quite as much a it is of the Irlsh development. The threat of a German collapse, with its inevitable recoil upon the rest of Europe, has long been the most formidable uncertainty overhanging the foreign markets. The sugges- tion that this danger may be pass- ing, through remission of the obli- gation for Germany to pay in gold, has been quite as important a rellef from the British financial viewpoint s from that of the other allies. (Copyright. 1921.) COTTON PRICES RULED HIGHER PAST WEEK NEW YORK, December 10.—The cot- ton market has been higher during the past week. Earlier week advances were not fully maintained owing to reports of a continued poor trade de- mand and realising or scattering liquidation. No southern selling pres. sure of consequence, developed, how: ever, and the market firmed up later the week on reports of a more active business in goods and a better demand for spot cotton in the south. January contracts. which had sold oft to 92 December, sold at 17.87 during today's trading, compared with 50, the high price touched on the advance -of late last month. and 16.08, to the size of the crop, it has reflected a slight upward revision of estimates, according 10 local b oF ina ae advancing tendency of prices has been attributed to a more optimistic view of export prospects and reports of increased activity in the domestic goods market. The possibility of a hitch or delay in the Irish settlement has been recognized, but the progress in that direction has made a favorable impression on sentiment. The firmer ruling of foreign ex-; change rates and a possibility that the time for German reparation pay- may be extended after the January installment, together with the favorable progress of the Wash- ington conference, have also con- tributed to the more optimistic feel- ing and shipping interests have re- ported sales of spot cotton both to the far east and Europe. The siness reported in the domestic goods market is supposed to have been largely for spot or mearby shipment. According to reports from Fall River there have been more inquiries for goods to be made, but at prices too low to be con- sidered by manufacturers. | [CAI.I.S CASH STATUS STRONG. NEW YORK, December -The cash status of Chicago, Mi uke and St. Paul is strong. It has no bank loans and funds are in hand to cover its interest requirements for several months ahead, H. E. Byram, president of the company, declares. Referring to maturity March 1 of the $25,345,000 borrowed from the government, Mr. Byram said: at loan is well secured, as well and even better than bankers require, so that there is no occasion to anticipate that the Interstate Commerce Coms» mission, which administers the re- volving loan fund, would refuse to refund it if borrowing the money elsewhere involved paying a higher interest rate than the 6 per cenmt which it bears. We are not worried about that.” PAYS OFF ITS LOAN. NEW YORK, December .10.—The New York Central Railroad Company, it is announced, has paid off a loan of $17,500,000 borrowed from the War Finance Corporation in January, 1919, The funds were drawn from general treas@ry assets, consisting in part of resérves for maintenance, which are not being currently used. Payment aves 6 per cent interest on the amount repaid. TO BUILD SIX OIL BURNERS. LONDON, December 10.—The Cu- nard Company announces that it will build six ofl-burning steamships of an aggregate tonnage of 100,000 and ex- tend the séfvices which lapsed during the war. There alse w!rl be a re- sumption of direct service for all types of travelers between England and Canada. N It is sald by spring there wiil be weekly . seryjces between Liverpool and New York and Southampten and New York. 10. Iwaukee | Office ,, | | NEW banks tributers Signed Contracts Betraying Americans. By the Associated Press. NEW: YORK, December 10.—Germany haa seised ocontrol of the American pot- ash market, virtually wiping ‘out all American competitors in the first im- portant clash of the “new commercial war,” Dr. John B, Teeple, president of the New York section of the American Chemical Soclety, declared In an address t. |at the Chemists’, Club. The new potash industry in America, he declared, was “betrayed by thirty- four American distributing companies, which, he said, had signed secret con- tracts waich eliminated all possibility of competitoin with the German mo- nopoly. | Sees Attack om All Industries. “I have in my possession,” sald Dr. Teeple, “a copy of a new form of con: tract framed with the devil's own in- genuity to evade all existing American laws. This is a contract between the Deutches Calysindikat of Berlin—the German potash ly—and the thirty-four American distributers. provisions of this contract, with the change of a few words are ap- plicable to almoet any industry in the country, and if this form of alliance is to be s 1 then there is nothing to prevent the utter wiping out of one industry after another in this country and the transfer of industrial supremacy to Germany. Germans to Be Kept Posted. “The contract provides for the amounts to be purchased by each one of the compariies. The price feature eftectually prevents any American concern from meeting the German terms, for it provides that if any of the buyers is offered a lower rate than the cut-throat price agreed upon the Germans are to be advised and given an opportunity to meet it be- fore any outside purchases are made. The German seller also agrees to p. any tax or duty affecting deliveri under the contract which may be { posed.or assessed by, the United Stat. government under the anti-dumping act of 1921 or any amendment thereof. Te Buy 73 Per Ceat. “The contract also provides fhat the American_potash mixers and distrib- uters shall purchase not less than 75 per cent of their requirements from the German monopoly. It is reported that by arrangement the French otash monopoly is tc get the other 5 per cent, so that nothing whatever |is to be bought from any American producer. “The Germans have won their first victory in the new commercial war. We are the sufferers. If they can hold their spoils for a year we are out of the business forever. Upon that the Germans depend, for then the can raise their prices and in one season easily recoup losses systained by their present cut-rate contract.” ———— HINES SAYS ROADS MUST SPEND BILLION A.YEAR Former Director General Opposes Changes in Transporta- tion Act. American railroads must spend more than one billion dollars a vear in prop- erty improvements “for some years to come™” if the country's transportation facilities arz to be maintained equal to its needs, Walker D. Hines, forrer di- rector general of railroads, declared yesterday in discussing the railroad problem ~before the BSenate interstate commerce committee. Mr. Hir expressed opposition to proposed cnanges in the transportation act on the grounds that such alteratiol would destroy possibilities of bette: ments by the carriers. With respect to the money require- ments for improvements, Mr. Hines told the committee that practically every road had need of line construc- tion work, additions to shops and of- fices, Increased terminals and facili- tles and “an urgent need for more equipment. Mr. Hines sald repeal of the rate- making, as urged by agricultural in- terests, would offer no rellef. “In fact,” he added, “it seems quite clear to me that agriculture would feel as keenly as any other interests or Industry the bad effects of the sug- gested change.” 3,700-YEAR-OLD BREWERY IS EXCAVATED IN EGYPT Model, Made 1800 B. C., Given to U. of P. Together With Other Relics. PHILADELPHIA, Pa., December 10. —A model of an Egyptian brewery, approximately 3,700 yvears old, wi among_several hundred objects ex- cavated in the tombs at Lahun and Gurah, in Upper Egypt, the last two seasons and recently received by the University of Pennsylvania Museum trom Dr. Flinders-Detric. The model, made about 1800 B.C. shows a dozen employves making beer from barley. A handful of barley also was preserved, but little except the outside hulls was left. Among the other interesting ob- Jjects in the collection were two mo els of small boats filled with rowe and fitted with masts and sails, sup- posed to have carried the souls of the dead across the Nile. There were also some excellent statues carved of wood representing servapts carrying grain, valets and worknien, and a lifelike portrait statue in wood, painted re of a dead man. The man carried a rod and a staff, indicating, it was said at the university, the ancient method of punishing offenders. NEW YORK BANK STATEMENT. YORK, December 10— actual condition of clearing house and trust companies for the ‘week shows that they hold $10,283,010 reserves in excess of legal requirements. This i ~ decrease of $7,704,790 from last week. Rooms New Star Building Most desirable offices for reat at rea‘son- able prices on the 3d, 4th and Sth floors of the new Star building. Reservations are now being closed for one or more rooms. Apply Room 101 - STAR BUILDING Area Reports Show Building Picking Special Dispatch to'The Btar. NBW YORK, December 10—S8ix months ago econmists, statisticians, bankers, business men and labor leaders were looking In the back of the book for the answers to two problems that threatened to affect eriously the welfare of the country this winter. Those two problems— unemployment and housing—now have practically solved themselves or are in a fair way to do so. Unemployment no longer is & country-wide menace. The great magnet of busigess resumption has picked up the scattered workers and drawn them back into industry. More are being added to the expanding pay rolls each week and while the army of workers is not yet recruited up to wartime strength, danger of extreme suffering by the unemployed. this winter has been safely passed. Even the weather man has aided in accomplishing this result. For the mild weather has permitted continu- ation of out-door projects for beyond the usual time ang at the same time the nippy nights have been an un- answerable argument to the volun- tarlly unemployed that the time had come for them to get out and hustle up a job. Loungers at Work Now. The parks here, which were filled in the early autumn with hundred: of unemployed sleeping on the grass, are d ted these frosty nighte, but been no added crowds at park loungers simply have gone to work. The success which has at- tended the sale of state, county and municipal bonds has been a decided tactor, for it has enabled the authori- ties to start work at once on high- way and improvement projects, which have furnished work to thousands of men. Perhaps nothing so_thoroughly il- lustrates the trend of improvement, both in morale and employment, than the operations in two lines of the textile trade here. Scores of buyers for overall manufacturers are in the market here buying denims. The de- mand for work clothes from retail dealers {s increasing daily and manu facturers of overalls and work shirts are preparing for an increased pro- duction with the new year. On the other hand and, the silk shirt indystry is almost at a standstill, with fittle demand and restricted production. ullding Exceeds 1920, Dwelling house construction is on the increase all over the United States. The amount of construction in nearly every section already has) far exceeded that of 1920, and next spring promises to develop into a regular building boom. There is still a housing shortage, but it is growing less acute, and the answer to the problem has already appeared. That answer is cheaper mone: Con- tractors now are able to finance their projects at reasonable rates. Loans are procurable at low rates, and those rates give signs of softening still more. Hard times may have been knock- ing at the docrs of America, but they| did not make enough noise to alarm the households in Missouri and Cali- fornia, if the number of automobiles owned in_those stites is a criterfon. Missouri has 50,000 more motor cars registered in the state than were recorded last gear, while the incre: in California has totaled 41,000. Other states -have recorded even greater gains. Tire production is increasing weekly and more tires now are being turned out than before the war. Experts on Inerease Exports to Great Britain and the orient are on the increase. Glass plants are being speeded up, with in- creased bullding in prospect, and there is a probability that the produc- tion period at the glass factories will be extended. Oil production continues to increase, with new drilling going on in a score of fields and new wells being brought in each week. The iron and steel industries not only have improved, but they are holding their gains. The successful way in whieh the railroads have been enabled to effect refinancing arrange- ments in the last week has put a tre- ]menflous amount of money at their dispotal, much of which will be ex- pended for repairs and equipment, with consequent betterment to the steel and equipment plants. The holiday trade is exceeding ex- pectations. and while salesmen no longer dash into the retailer and de- mand that he “sign on the dotted line,” so they can catch a train, they are turning in a satisfoctory volume of dry goods orders for spring de- lUvery. Commodity Reports = From Various Sections Rubber. CUMBERLAND, Md., December 10 (Special).—The Kelly Springfield Tire Company has put on a night shift at one tire-building machine. It is &n- nounced that other machines also will be worked at night soon. The factory is now employing 1,060 workers, or nearly the normal quota. | x Machinery. KALAMAZOO, Mich., December 10 (Special).—The Wilson Foundry and Machine Company has received orders for tire molds sufficient to keep its tire department busy untl spring. The company, whigh will hereafter manufacture all Willys-Knight en- gines, 1is receiving carloads machinery from Elyria, Ohio, for new work. ‘ . Fish. PORTLAND, Maine, December 10 (Special).—The lobster season is on, but the greater part of the canners have refused to open their plants for the short season, which last but six weeks. The Nova Scotia canners are 'he | putting up some lobsters for export. Vegetable Olis. SEATTLE, December 10 (Special).— Cocoanut oil from Manila is arriving Here at the rate of 800 tons a month, displacing_importations of soya bean oil from Japan since the duty of 2! jcents a pound on tna Japanese pro- e The Manila ioil is sold wholesale at 7% cents a pound, as compared with 18 cents in 1920. I PHILADELPHIA, (Special).—The bituminous ket in this section is quiet, as many large consumers stocked up heavily in anticipation of a rail strike, De. {mand for anthracite continues to be satisfled on a hand-to-mouth, one-ton- time basis. Coal 4 Fiour. KANSAS CITY, December 10 (Spe- cial).—Figures just compiled show that the flour mills of this district ground more gra!n in October than in the same month & year ago. The mills in this city operated at 30 per cent of capacity. 5 Equipment. NEW YORK, December 10 (Spe- cial).—The Delaware, Lackawanns and Western railroad has asked the General Electric Company and the ‘Westinghouse Electric Com: to prepare estimates for the electfifica- tion of forty miles of track near ton, Pa. The cost, it is belllllvllod, Vast Improvement. Up Everywhere. time basis h: given employment to 250 iron miners h gk ere. Livesteck. ST, LOUIS, December 10 (Special).— Notwithstanding the strike in the acking plants, receipts of livestock n this market were 'ge this week and new prices show stability. Notes. ST. LOUIS, December 10 (Special).— Relative prices between this year and last year are strikingly shown in the bid received by this city for supplies for city institutions for the next three months. Food staples show a decided decline this year. Lard was offered the city at $9 a hundred pounds com. red with $11.90 last year. Ham cost 17.60 a hundred this year compared to $23. Pacon is offered at $14 a hundred com ‘with $18.50 in 1920. Eids for beef loins were $15.35 & hun- dred as compared with $19.75 for sim- {lar cuts a year ago. Pork loin is $13 this year and was $20 last December. Mutton §s high this year, the price be- ing $8.35 compared to $7. 80 are spare ribs, which sold a year ago for $8 and are now $10,70. Veal is un- changed. ROCKVILLE. ROCKVILLE, Md., December 10 (Special).—At the annual meeting of the Montgomery County Chapter of the Americaan Red Cross, held in the auditorium of the high school build- ing here, presided over by the vice chairman, Mrs. John R. Henderson of Rockville, and largely attended. offi- cers were chosen as follo: Chair- man, Dr. George E. Lewis of Rock- ville; vice chairman, Mrs. John R. Henderson of Rockville; gecretar: Mrs. J. Somerville Dawson, Rockvill treasurer, Paul Brunett, Rockvill executive board, Preston B. Ray. Wil- llam F. Prettyman, Mrs. George H. Lamar, Edwin W. Broome, Miss Alice Brooke, Miss Anna Farquhar, Miss Martha Poole, Miss _Olivia Myers, Frank B. Severance, Mrs. Vernon Dyson, Mrs. Atherton, Mrs. W. W. Skinner, Mrs. J. Frank Wilson, Mrs. Russell, Walter Tuckerman, Mrs. Wal- ter E. Perry. Mrs. Fred Keplinger. Thomas D. Darby, Dr. George H. Wright, Mrs. E. Brooke Lee. Mrs. Frank L. Hewitt, Mrs. H. M. Clagett. Mrs. Fred Hays and Mrs. W. B. Barnsley. 7 It was reported that incoraplete re- turns from the re: membership !drive in the county indicate that the enrollment for the new year will be around 1,500, or something like 500 less than that of last year. It was also reported that approximately 1.000 pounds of clothing of varlous kinds, much of it made by members of the varfous Red Cross organizations of the county, were exported for near east relfef. The report of Miss Martha Poole. chairman of the home service sta. tion, showed that thirty-five former service men of this county, who are wholly or partially incapacitated, or their families, were given substantial ald during the year. Harry R. Hilton of Washington, gonvlcted in the circuit court here a a option law of the county, was today sentenced by Judge Peter to three months in the Maryland house of cor- rection. It was charged that Hilton permitted and aided In the sale of in- toxicating liquor at a house con- trolled by him on the Conduit road near the District line. The fall meeting of the public school teachers of the county was held at the | high school building here yesterday with practically all of the two hun- dred teachers in attendance. Prof. Edwin W. Broome, county superin- tendent of schools, was in charge. The teachers were separated into groups and each group considered topics sug- gested by the county superin.end: nt. Prof. Klingman, principal of the high school at Belair, was in charge of the high school group; Miss.Simpson of Baltimore presided over the element- ary school group; Miss Mary C. Breen of the Washington Normal School led the discussions in the primary school group, and Miss Nettie Brogden, su- pervisor of the one-room schools of the county, conducted the delibera- tions of the one-room teachers. An interesting feature of the day was a “kitchen shower.” given by the principals of the one-room schools to Miss Margaret Creighton, principal of the school at Oakdale, whose marriage to Mr. Frank Bready of the Oakdale neighborhood is soon to take place. ALEXANDRIA ALEXANDRIA, Va., December 10.— The Alexandria motor bus line an- nounces that, beginning Monday, the | fare between Aléxandria and Wash- ington on its buses will be increased from 10 to 15 cents each way. This concern again will put on eight-trip tickets for $1, and they announce that about January 1 they expect to put on a commuter's ticket of fifty-two trips_for $5.20, good for one person for the month only Raymond O'Dwyer, a resident of Washington, in the police court today was sentenced to serve six months in jail for an assault on Policeman George Nalls, which took place Sun- day afternoon, November 13, near the corner of Lee and Gibbon streets. O'Dwyer noted an appeal to the cor- poration couwrt, and subsequently fur- nished a bond in the sum of $500 and was released. The appeal will be heard .n the corporation court. The accused was arrested in Washington yesterday by Policemen Laurence Padgett. Welker and Nalls and De- tective Fitzgerald. the last named of Washington. Policeman Nalls testi- fled that -he had two men under ar- rest, and while proceeding with his prisoners he was struck and knocked down. Arthur Sisson identified the accused as the man who struck Po- liceman Nalls. According to O'Dwyer, he did not know Nalls.was a police- man, saying Nalls was not in uniform. p"ll".h:n&:ls:r‘lllallnml’llhen last night eville show Lo ey ow at the L, The original Relief truck and engine company, No. 1, at a meeting held last night at the old Friendship engine house, elected these officers to serve for the year: J. Edward Shinn, presi- dent; N. L. Reynoids, first vice presi- dent; W, H, second vioce gallden(; secretary: A. Fal, 8. B DQVlll'.hlhv CRUCIAL STAGE FOR SILK. NEW YORK, December 10.—In the be reach: ed, it Japan- ese importers of silk. uwr:h(n ,I;:! time manufacturers must buy for their .Ynmnrg. February and March supplies or- definitely decide to stay out of the market. Only buying for immediate requirements is. evident, manufacturers holding off from plac- ing orders with the hope of a fall in the market. According to the im- porter there. is_little likellhood of prices of raw silk falling to any ap- preciable degree. —_— A new restaurant in New York is or two ago of violating the local | Prices Remain Finn-NeV(? Bank Is Launched—Extra Dividend—Local Notes. BY I. A. FLEMING. There was# another let-up in the trading on the local stock exchange, probabdly nothing more than the usual breathing epell after the activity of yesterday. Within a few days Investors will begin to consider employment for their dividend and iInterest payments due from now on to January 1, and the local mafrket is likely to feel the &ffect of their buying. Potomac Electric general és were firm at 98%, while the 7s of the same for which temporary re- ipts have been issued, were nomi- nal at 104 bid and 104% asked. Gas 55 ensed off u little to 90%;. Capital Traction shares, 93; Ralii- way preferred, 62. Commercial National Bank stock strengthened to 130 after an opening sale at 12 New Bank Opens. Washington's newest financial in- stitution, the Banking, Trust and Mertgage Company, opened its doors i for busine: this morning at 140% H_stree Percy S. Foster, president of the institution, and A. H. Fowle, head of the Premier Finance Corporation. which successfully launched the com- pany, were on hand with the full personnel of the bank's officials and directors to welcome shareholders and others calling on business or 1o inspect the remodeled banking rooms and extend their good wishes. Artisans, skillfully directed, have turned the one time old furniture store into an up-to-date banking in- stitution. The second story floor was removed, giving the rooms a much larger appearance, and the paneling of ceiling and side walls in walnut has given the banking quar- ters a finished appearance. accen- tuated by &pecial fixtures and desks of walnut. There is ample room for customers and the banking force. ‘The bank which has an authorized capital of $1,000,000, and 1,200 share- holders, wiil remain open all day. and this afternoon and evening a recep- tion will be held. The opening of the new institution also marks the return of H. W. Rob- ertson to the banking business. The new bank will clear through the Riggs National. Amnacostia Bank Dividead Directors of the Anacostia Savings Bank have declared the regular semi- annual dividend of 4 per cent, and in addition, an extra distribution of 1 per cent. both payable January This institution, under the manage- ment of its president, Maurice Otter- back. has made great strides during the last few years. covering its ai- lotted fleld in a satisfactory manner and growing with that section of the city. Walter Pitman Ramsey, for many ears connected with the Treasury Department and for the last few 3 the Commerc ational Bank, representing the lat- ter institution in transactions with | the Treasury, died at Garfield Hospi- i tal Friday of pneumonia after a short { fliness. 4 Judge Ramsey, as he was called by his intimates, was well known in the banking business, a kind and ge nial man, whose passing is regretted. May Delay Opening. The accident this morning that cost the life of M. L. Dinwiddie, secretary and treasurer of the new Ci Trust Company, mi ing of that promising he was practically the one man with | practical banking experience, and was counted on to manage the affairs of the institution Opening day had been planned for next Thursday. \ Personal Mention. Milton E. Ailes, president of the Riggs National Bank, was yesterday designated as the representative in ‘Washington of the commerce and ma- rine commission of the American Bankers' Association, to co-operate with Secretary Hoover of the Depart- ment of Commerce in furtherance of American trade. Francis M. Savage, president of the Northwest Savings Bank, has gone to Gary, Ind., to look after personal in- terests there. | 35,000,000 IN RUSSIA ISTARVE DECLARES GORKY iUrges Broad Relief on American i Plan for Many + Survivors. STOCKHOLM, November 19.—Maxim Gorky. Russian novelist and formerly head of the Russian relief commission, told the Associated Press correspond- ent when he passed through this city on his way to Berlin that he beileved the deaths from starvation in Russia would aggregate 35,000,000. He heart- ily praised the support which the American people were giving to the starving people of Russia, but said the only way out of the serious sit- uation would be through the establish- ment of international relief founded on the American plan, broad, eflicient, complete and well controlled. He doubted, however, whether the nece: sary relief would arrive in time to avert disaster. He expressed the opinion that Mr. Hoover’s relief was somewhat imper~ fect and lacked organization, because sufficlent safeguards were not taken to prevent the stealing of the food by gangs of soviet officlals, from the time the commodities arrived in Petrograd until they areé consumed. . ky said Mr, Hoover had placed too much confidence in the soviety He deplored the passivity of France and excused Germany for not coming to the support of Russia. Sweden's contribution to the famine he thought: was but a drop in the ocean. On the question of Russian interior politics, Gorky said: “Unrest is as common as dinner is here, but nobody takes any notice. Quite recently there was a fierce riot in Petrograd, which wh.:fi only quelled after much blood- —_— REPORTS ON ILLITERATES. Census Finds There Were 10,500 in Washington in 1920. Out of a total population ten years of a and over of 377,205 persons, Washington had in 1920 10,608 {l- literates or 2.8 per cent of the total ten years of age and over, the cengus bureau announced yesterday. Native whites in the city ten years of age and over number 254,522, and of this number 640, or three-tenths of 1 per cent were illiterate. Percentage of illiteracy was high-- est among the negro residents of the city, the bureau announced. Out of- 93,782 negroes ten years of age and 053, or 8.6 per cent were il- ite: . ‘There were 28,292 foreign- born whites ten years of age and over in the city in 1920 and of this num- hntl,'lzl. or 6.1 per cent were illit- erate. TWO LINES TO BE OPENED. SAN FRANCISCO, December 10.— Expansion of Pacific port trade lines is Mndicated in statements that the Los Angeles Steamship Company in sixty days will have instituted a direct passenger and freight servico from Los Angeles harbor to Hawai- ports, in addition to the new Matson freight service im o) about two months.