Evening Star Newspaper, December 26, 1921, Page 18

= ¢ - . THE EVENING STAR, WASHINGTON, D ' _MONDAY, DECEMBER 26, 1921 ‘!SAVEI]BY(}REBII-SL‘“ S _Philivsborn et Pages ‘608 to 614 ELEVENTHST, - All Furs have been given special reductions E‘ * War Finance- Corporation’s Report Shows Largé Sums -| Used to Revive Trade. L] NATION-WIDE AID GIVEN. Our Annual After-Christmas Sale - Begins—Tomorrow—Tuesday Board's Help Broadened to Include ‘Wheat, Fruit, Tobacco and Meat Exports. The fourth annual report of the o e e e A An event .wllich has become an institution at PhilipsI)an’s—and in.to which we gather the residue of seasonable e stocks—making sacrifices in price that would not be justified nor possible at any other time; nor under any other con- ent. The corporation was originally ; ditions. Hundreds of the highest grades of Dresses—Coats—Suits—Furs—are included—and you’ll find we’ve dealt created “to promoté commerce with radica}]y ‘vitll t]]e l‘eductions. g . foreign nations through the extension of credits, and to aid in the transi- tion from the conditions of war to the conditions of peace; to make ad- not exceeding $1,000,000 to n exporters and American hauking institutions for the purpose of financing the exportation of domestic products.”” This authority was exercised until May. 1920, when | activities were suspended., i cay In January, Congress adopt a resolution directing that the a tivit of the corporation be sumed “with the vie of assisting in of portation of a products to S More Than: 2000 Street and Afternoon - Dresses The models have approval of the best fashion authorities—as they are the productions of the leading makers. Cantbn Crepe Crepe-back Satin Poiret Twill Georgette Duvetyne Tweed 7 Crepe de Chine Tricotine Serge Embroidered and embellished in new and exclusive effects. Smart designs; artistic applications of ribbons, beading, flowers, tinsels, etc. Enormously Reduced to | is our greatest : product, attention changed. ere no longer buy on credit. be volved in exchange fluctuations. To meet this situation the corporation ; offered to make advances to finance carry of stocks of American illing or ause of the risk in- gn warchouses. It was sted that it would be de- advances on cotton which was under e to foreigners; and tion agreed to render such stored In Ameri contract fo the corpo assistan Cotton Trade Stimulated. Early in July the corporation agreed to make & Vi co-opera to carry lated con able 2 vances w made to co-operative associations in . Oklahoma and Arizona, as well as to banking insti- tutions in the south. to assist in financing large quantities of cotton for export in a similar manner. In all, i the corporation agreed to finance ap- | proximately a million bales of cotton | 1 and it w a_marked i situation the ot long before there was t But the im- ded bevond the south. d buying power was nat- in other producing manufacturir. and " the report ndicated its re: agricultural ¢ hope industrial centers The corporatio mess to finance othe modities intended for export in ac- cordance With the »ds that had been devised for findncing cotton. | uthorized to co- { wheat, dricd its and vegetables | and to cxporters or banking institu- tions on tobacco, condensed milk and meat products. ' Loans for the ex- portation of raliroad equipment, cop- per and sugar mill machinery were approved. Board’s Seope Broadened. “Soon it became necessary.” says the report, “that provision be made for the carrying of our commodities in Large advances we operative assocato Over 500 Plain and Fur-trimmed S Coats | fruit and canned larger quantities for a longer period of marketing. Not only ‘was the mar- keting abroad slow. but our own mer- chants and manufacturers were oper- ating on a basis of the lowest possible stocks, and were buying only to meet current nd The War Finance Corporation was amended, broadening the powers of the corporation so as to advance not | only to exporters and banking insti- tutions, but also to dealers in. and agricultural products, until these products could be sold and exported. Loans could then be made These are the Coats that have added -~ famously to the Philipsborn reputation for value-giving—and fashion essaying. The:- Weaves— A The Furs— Genova Bolivia . Normandy Veldetta Beaver Mole Australian Opossum Seal Pollyanna Malita Velour Saxona Squirrel Wolf Raccoon Fox As you prefer—flle free, full drapery; the form-fitting—-the belted—or Sport modeb—embroidered and braided; or plain tailored— @ for not to exceed three years. The N _? 5 corporation was authorized to loan to Ne—— —L] i 1 : silk Dersons or firms or corporations out- k\‘;\:fi__&—gé and full an half lined with durable silk. side the United States. on certain N—— g conditions of payment. This privilege RNe—+=— was extended to loans i to cattle and live stock broe exceptional cases the corpo uthorized to buy p and authori Enormously Reduced to flt ‘& domest As lustrated. ¥1300 und pape ing institut pces were limited to $1.- ny one time. Agricui- < were established and live, stock districts. Thirty-three agencies were established. The managing -di- rector of the corporation visited all the large cities of the west to make a personal inspection, and to canvass the needs of agriculture. The co- operation of state bankers’ associa- tions has been sought and obtained. 824 Applications Approved. Tp to November 30, 1921. 824 appli- eations from banking and financing institutions for advances for agricul tural purpeses. involving AapEroxi- mately 34 by the bo number. agenc 125.000, had been approved rd of directors. Of this 90. involving approximately §38,726,000, were acted upon during the month of November. Large advances have been granted to_co-operative associations on_ rice. | wheat, cotton and canned fruits. From August 24 to November 30, 1921, the advances granted by the corporation to_co-operati cultural purposes total $39,597,000, and the advances granted for export pur- s to banking institutions and ex- aggregate $3%.847.000. Within the past few months new agricultural and live stock loan com- panies, with a total authorized capital of more than $5.000,000, have been formed_in Utah, Wyoming, Colorado, Texas, New Mexico, Montana and Ne- braska. Liberal advances are made to them on the same basis as loans to other financing institutions. Early in November a corn belt ad- | visory committee was formed “to aid ! in devising method= for meeting the situation_in_the most effective way." Warren T. McGrady. Governor of In- diana, was chairman. This commit- tee has been active and has brought about “a noticeable improvement im the corn situation.” Noteworthy Results Attained. Tho work of the corporation “is strengthening the banks with slow assets to carry their old agricultural Joans,” and helping stronger banks “into a situation to do new business.” “Considering_the magnitude of fits task,” savs the report, “it is felt that noteworthy results have been achiev- ed. Its very existence has tended to inspire confidence. The right meth- ods have been adopted.” | The Secretary.of Agriculture was added to the corporation by the ag: cultural credits act of August 24, 1 Advances granted for export and ag cultural purposes to November 30, 1921, amounted to $133,54%,215.39. Of this amount $51,524,209.34 was to as- sist in financing exports, and $82,02 00505 for ‘“agricultural purposes.” Cotton, grain, live stock and railroad equipment lead the list of commod- ftles assisted. ” GIVES UP FOR DINNER. NASHVILLE, Tenn., December 26.— Jim Bohannon, negro, escaped from the state penitentiary here fourteen years ago, after serving all but six months of a four-year sentence, re- turned Saturday and gave himself up. One reason given for the action wul . Hundreds of Plain and Fur-trimmed Of such distinctive designs as to create fashion types—strictly exclusive -and original—appealing with their graceful lines and characterful tailoring. : : g The Weaves— The Furs— Veldyne i Duvet de Laine Squirrel ¢ Australian Opossu Moussyne i Tricotine Mole ; Wolf ; Llama . Poiret Twill . Kolinsky Squirrel Fox 5 Elaborately ‘embroidered; effectively braided—or in refined plain tailor-finish. 'Enormously Reduced to assoclations for agri- ’ that he wanteqd to be sure of a Christ- mas dinner. ." . v