Evening Star Newspaper, January 28, 1922, Page 15

; .. FINANCIAE. = . 4 LOOKING BRICHTER - Action of m York Commit- i tee Reassuring to Local Logal sharehohlers ' of *Columbia Manutacturing Graphaphone -Com- Pany stock were gratified at the ac- tion taken by tife committee in charge of the handling.of the peyment of February 1 interest on the $6,000,000 “of outstanding five-year, 8 per cent notes O the company, which were offered yesterdhy. to holders who de-' Pposit their notes on or before Febru- ary 15 with the Guaranty Trust Com- pany of New York. weekly at the pay windows. This announcement was made byl Tuis added activity by manufac. the committes, headsd by Harold|turing plantseis due not only to or- Stanley, president of the G L," ,mmg‘ recelved, but to th nowl uaranty Company of New York, which has rders must be forth been inted to represent the note- | coming f. or. nounced have made it sure that a appol Mldnn in working out a plan with the bank and merchandise creditors|certain . amount of mnmtteulrul products will be used in th: to readjust the company’s indebted- Stookhol e = ““. i BY J. C. ROYLR, Special Dispatch to The Star. NEW .YORK, January 2§.—The chanting wheels, the “slapping belts, the squealing line shafts and clacking looms of the mills and factories of the United States are -mounding s Jouder and a deeper note i the sym- phony of business activity. Smoke is Delching in increased volume from the stacks of the industrial pldnts of the |y, country and longer lines are forming ' ness. months and (hd mills and. ucmrl . “The oommittes has made. ar-|are busy preparing to supply those rangements” the statement said, | needs, although in some instances the “whereby the February 1, 1922, coupon | definite orders have not been placed. on notes deposited on or before Feb-| Many orders have besn placed, how- ruary 15, 1933, will be acquired by |evar, 'and the rallroads, which are the ~committes representing bank -mnn! the largest buyers in the coun- creditors and held for such disposi-{try, “are in the m-rlut' ll!ln for tion under the plan or otherwise as|supplies, new equipm repair all be equitable.” m-r:lt.-lm'rlhnyh-yri. ;""‘""{c:';‘"ii’;‘.t ““Thi ment assures to note- | an eir buying has T, and tight, it has been in big volume. The buying power of the farmer still is extremely limited by the manufa turer, who is virtually carrying farmer \mlJ'z uch a time as he cures the money for his next summer’s crops. That' is, the manufacturer knows that the farmer must buy and that he can and will pay when he re-. ceives the money for his produce. Therefore, the manufacturer is pro- viding for these needs in.advanceg is laying up stock:for future ‘usinéss. Metal Condition Improved. The basic conditions in the metal trades are showing a decided improve- ment. - This trend is plainly shown in dispatohes from various manufacturing centers within the last twenty-four and is noticeable in pig Irom, jots, tin and copper. as shown a more actlve ten- denty than for some months. This been due not only to the cold weather which ‘has led, but to the fact that manufacturers are preparing for any eventuality which mAy come from wage disputes in the local trade. Fas- wry owners in general do not anticipate holders who deposit thefr notes gn or before February 15, 1922, the imme- diate receipt of the $10 uprnom.od by the February 1 coupon.™ ‘The company’s ¢ per cent bonds rose 5 points to- 38% on reports of the arrangement. The common stock also advénced 13 to 2% and the pre- Terred 5% to 12% points. Francis S. Whitten, chairmah of the board of the graphaphone compeny, yesterday denied a report, said -to have originated in Bridgeport, Conn., that the company would be taken over by the American and Foundry Company. He further denied that Tepresentatives of banks holding notes . ot the company, dus April 1, would = eo-oyenu in the management of the 'I until & liquidation of liabili- tle- had been effected and that there . wWas any indication that the company would go into the hands of a re- celver. Virginia Charter o)ul-n. A charter has been granted by the Virginia state corporation commis- sion to the Wardman Real Estate and Investment Corporation. The Dut thi purposes of the company, as stated, ng-drawn-out coal =trike, but they 2re’to conduct a general real estats foot e, usiness o the upwasa path, they capnot afford to be held up for a single day and are taking steps to build up a reserve fuel supply in con- sequence. . Buying Power Increases. The purchasing power ot salaried peo- business. Officers named -are Thomas P. Bones, president; James D:. Hobbs, vice president, and Harry J. Robb, secretary and ‘treasurer. The board of. directors is composed of the offi- cers _and Daniel Thew Wright and|ple is increasing as more workers are Harry Wardman. ing given sob-.m In ‘llomau lnTunlc:- Has Lewest Reserve Ratie. workers are s Rg rectly in e prosperity which is coming to employ- ers. The Endicott-Johnson Shoe Com- pany announced today that $3,000,000, half the sum “earned by the wmpnny last year over dividends and '2°“m b.kdlltflbuwd among n.m lo ors. m sales already made by the American Woolen Cammy in lines of fabrics lor ‘women's wear, whlcn _The reserve ratio of the Richmond reserve bank for the first time in months reported yesterday be- ‘Jlow that of any other reserve bank. New York had the highest reserve ratio, 80.6 pen cent, as compared with Richmond's 46.7 per cent. The aver- age reserve ratio during the past ‘week rose from 76 to 11 2 per cent. 100 power dam, and will u L2 were ope! s few days b hfl , and will dou- | De Beers Mines. .. H Traicate that the company would seif | DI that number as the work Dro- | Del & Hudson.. 19 19 Washington Stock EXchange. | ore: soeds than the. machiery ‘ai- | Sresses. Del & Hudson - o 1o 111k BALES. ‘olmi lfltfli‘fiullfi }lx;:n|un produce be- ———— Blec Stor Battery. 141 l:l“ M_;“ . m. ore mnex -Johnson. 3 SRR £ P ST 1t 9% |orders win have to GIVES DEPRESSION CAUSE. fi?&'““ 2 0 oy isbingien Ratiway ang Electric como-{ Retail clothing pri e Erie 1 Sk 1% 1% 3 a8 ",fi B A B A B |2 mer e e re Rotres of ‘tne|@dv. Cooper Sees Mistake in Paris Famous Playery.. W T o 5o at a8k Je at - ry Goods Associa- Treaty Fai Famous Playrs Df 8 o = po- ma#:::;:u'-'—n*im rom widely sep- ty:Baltpre.. ! :: 1% ions indicate that the nub- | AUGUSTA, Ga., Jahuary 28.+-De- U8 1% e Ui is responding well to bargain in-| claring that if-the worid belleved in @)% €% 684 28 at S8, 25 at 3& Py e son m.. ucements. Asmerica today as it did in 1917, cot 2 1k us E:" “§ e s Lumber Demand Advances. vna|ton would be selling for 35 cen i 8% 8% - 8% Weshington Ges Gey—$1,000 at go Lumber is advancing fn demand and Tplotomis BONDS. . manufacturers are making n:oml‘o:s W“‘l:' h‘o‘“‘ ‘:‘L"‘:fl Teserve system % ‘::K efforts to hol lown ices for fei ‘woul 'unction! raperl. ‘ fhat ‘any. radical incréase will tend | the nation, and the soathland In pers|@reat NorOre.... 3% 814" 41 t0 check buying and construction. ', would not be in tln .rlp ot ; G Leather is in great demand, both in |dem ing business depression, - gy e o mirsuipas Towcr | e “.‘iu,’.‘..c""n.&“ Vening betore tha - ' utpu Wer an evenin, forecast fnr ernAe oil in somo t"Board of camma.rce. J::é:i 1% 1% Deations 1s RAVIRE & tendency towurd Rt It Bie Sdeliberate opinjon that 200% restricting production. American guhlle opinion forced | 1paiahoms. (173 e col eather ali over the coun- | an. Unwilling. Genats o mtir sag | I8 boro Metro.. 2% % try has been attended by an almost | treaty of and let the United | IBterboro Uettls - 2% 37 e 1 universal ‘increase in the priceof | States take it appropriato place o Tnter Do e P oy B 8% o eggs, but the prices of flour readjusting the political, economic | Int! C"’““" o & bread show a tendency ‘toward g soctal problems of the world, we | Intl Harv & erally lower levels. The cuts X 14 not be -passing through ' the | Intl )larlhrlnpf . o% « “& prices of automobiles and tractors|financial crisis which is testing the | Intl Motor Truck. o% 2 » manufactured by the Ford company | courage and faith of our people.” It|Intl Truck 1stpf.. 7% 7% 1% 99 are-keeping automobfie- manufactur- 'u lmt a question of making the|yntiTruck2dpt... 8 8 1043 ers on the anxious seat, but produe- or democracy, but for|{yn¢ Nickel. W 2% 12K 2 tion is_continuing at an increased b“lne“ as well, he said. Intl Paper. L% 0 0% 90 rate. .L'l'he tire business is_nearing —_— Intl Paper (sta)... 6% &% 6% g 1 norm BIG DROP IN N. Y. EGGS. InvincibleOll.... M I 10 %84 it e NEW YORK, January 28.—The oy % © Commedity Bopaets, > mSsnE yeriariay | SoneS TSt coiiCo h o o & From_Various Sections | per *&2en " Wholessiors “espistied | Kayeer Guliue).. 6% 2 864 2 Oheasatl o~ | That Heavy express shipments. frew | Kennecott.....- me 1% e ° = the producing centers, made at pre- K"'""“'“" 7 ETROIT, Janusry 28 (Special).— | gold weatier prices, caused the de. | Kresge (88) U7, 1% U The J. B. Ford Company, one of.the | cline. mwm-lunl “ 6 e Lee Tire & Rubber Zi% I 2% FEDERAL INCOME AND B E 4 Liggett & Myers.. 100 160 l: 54, ; LimaLocapf..... % ‘9. EXCESS PROFITS TAXES|iineiiii m i it . Loft InC......ceo 10% o Manati Sugar..... & & & PY Manhsattan Eley.. & & s - = Manhattan Shirt.. 3% 3% ;s Conducted by DR. JOSEPH J. KLEIN, C. P. A. Marland Ofl...... % 2% t:a (Copyeighy, 1922, by Joseoh 3. Kleia. AR rights reserved.) MarkorStRY. .. 2% a% sk (Tax questions should e ' feghi re Juestions should be addrested te Dr. ‘“.:atnunumlur. nm&nvw% l‘?{n?;r,: ::::;t. “‘M mm, "“ Commusleyt signed. | ssswers will c] - Articie XIV. races, etc, arecnot deductible, :‘h:‘;f';:fi:ai," 'm: e 5 i = purposes the forego- | Middle e Recently we discussed certain ex-|ing jtems constitute all of the sxpen. | Midvale Steel.’. - 0k =% penditures which the law permitted | ditures of a taxpayer which are not| MoK & Twi. lii. % 8% taxpayers to deduct from groms in-| Dermmitted him as deductions, in whole llnl{.'l‘utwiu- % % uh e, At -|or in part, from hia gross income. o Pacific. . . 1% 164 16% #§ NnOW necessary to con “% sider . certain other expenditures| ,QGUESTIONS AND ANSWERS. ""P‘“mi“wn'd& iy Which may not be 8o deducted. These ,,,S,.‘52,7"{.,,::3‘}3’,‘;‘:;,,}{“3,.’,".,‘{1' 5:}‘,‘,:‘:’;05’, 208" 30k 6 constitute saction 215 of the law and | lowing questions for your kind an- Natl Biscuit pf. ... 119% have been referred to in the outlime ) SWE: LR R of this serles of articles as: A2 n“;’,".‘""“ Section 208 (b 1 énd e 108 1% D. 1 ded = ) ] fiscal year of a single nrv- o . Items not uctible. prmonnlp began _on February uymrnnuu. 66 634 B8N dtem 27. Persogal Expenses.—We 1, and ended January 31, un. Y Central. . uh TMH BH have already n lhnl personal liv- t are the rates applicable to the Nycnl&sth . 85 56 . 8 - ing and r.mn enses are not de- elenn months_of u’fi and to the Dock pf. W % 5% duceible. 1t is hardly” necessary 6 \?fi“«" of mz;' ) NI RN & Harctd. 1% UK 1K xampl eference. ot ion 212 (b). T 1 10%- Item 28. Capital Expenses.—-Amounts he wording Norfolk Southern. & R DAl Tor the. purchens o Saeh viomes | method smployed doss not SobAy ie | Norfolk & Westrr. noa as new bufldinis ‘or for making ex- | flect the income ¢ & » refer to|North American.. 8 {ensions or Improvements 1o exiating | the _method of accounting and|North Americanpt % 4o% <S4 buildings, er changes Which increase | does it mean that the accrual method { Northern Pacffic.. 7 77 - 7% the value of the. prvuny. or for ma- have.to be used for computing | Nova Scotia Steel. 2% 5% - 2%, chinery and such other items, are.not taxable income? The. business{ Ohio My&mov- uN UM RN deductible. If dpreciation has been [I have in .mind has heretofore al- [ T dedicted as an éxpense, the amount | ways used the cash method and never 5 5 8. spent to restore the property to its{yet taken inventory of a 1% 1% 1§ conamon before depreciation is not | come and exp: nu- for wmu-ung lu 120 - 1% 120 a0 allowable deduction. Nevertheless. | net pront and 1o 0% 10% 'ven where depreciation is taken, as, m Socuon 218 (7). ™ ‘3 % for example, on buildin, lht Awnt the Amrlun ‘Telephone .and T w% Uk MK 5 @pent for. ordinary -rep any to be eon-ldenc o% 6% 8% . e it aonin Mdopm ’r';fi“n eeompt Toorh Lavation '}'" L, ¥ - 3 ‘om TRADE CONDITIONS. .| Been taken as a deductlon, the m'f' 7@ Reforomee: Baction. 113 (9. Y UK UR NEW . YORK, January 38—Dun's|nary every-day smail repair expensos| This paragraph exempta “pensions R review of trade says: “Expansion of | MY al80 De deducted: from ¢ cnfi ted States for service of ® & Item 2. Life Insurance Premiums. ry ‘o another In the mill: N 0 0 business, if not wholly lacking, stil —Life insurance premiums paid on ury or n“nl forces of the United B % 8 develops -lofly. ’A‘ho coldest weather [ one’'s own life insurance policy are|States in time of war.” How about the Phil 3% BN 8% of the winter at different points has[not deductible. If the taxpayer is an ( lon of the widow of a -United Hu %8B augmented a.mna for heavyweight{ employer and -he ma the insurance Army officer who has only ®» ¥ B , apparel and fuel, yet there is a ‘ premifums of an ove. } amount nrv in the United States-Army. in # C 18 ! position now to watch _closely for | go.spent is not dedumlb f “the tax- | time o: peate? ll such nunflon ‘Sub- g g gains which result from other-than s. yer is directly or indiréctly a bene- | ject. Il it nnm ity LR R Barely seasonal infidences.” Basio in-{ Bolary under ueh polley.” o o ateraat on vestod| 9% 9% SK dustries have held most of the ad: xun 30. T which are lnshulu- (net w-m.h MK Nl WK 73300 of recent monthy and in_some tased ~agaiom Toomt Demente of o | o Dasiy s in any way to Soarusa 8 58 have mad. {arther recov- ind tending. eo ngrease the value of | shown {n the income tax reture, of {8 8 - % 7% tr!. nt 'ld reovi at manufactur- | the property” agal ‘which' assessed | it excluded as, for .instance,. pro- 1% 112 - Mm% mtnu remalm the con- | are not fladuonblo on tne ground tiat| prietor's salary? - Pun 0% % -| they do not.constitute & real expense, (-) e-muu the fax M“’i 3% % 3% but_an sdditionsl ‘investment. 'This rates, and then take 11-1: WL [ % matter. was. referred-to in oouuug: ol the lblflltrflrna to be due. k A i % with - item 20, whers 1l the tax fi ‘ny ‘Tut ‘that seréin taxes-paid - : to l;n countries and to. posses- Y Shons’ ot the United Bintes, While wot | ehn ot N Bk deductible, were permitted as & credit. u% uk n This.matter will be referred to again X oL m(. uen n wot unnmatorally a]under u:o upuon '-s—cnam m & . hesitant attitude in ERemp! Teom Bi 1 resulting m unlawful -ndemklnn. for mm 'ventures in “boouu- Mnl;q largest nunu!lc(nren of reports that production ‘- ’.u Ta the firet throe weaks OF nuary than in any montn of mt year. Apples. ‘ SEATTLE, January 28 (Special).— ‘ommercial boxed vlnnr-lnmg pu; are practically clesned up. .8 a pack of 29,000 cars In thé Wenta- chee and Ylklml districts, growers have less than 3,000 cans.on hand. Cold_storage smce in ships thro h the Panama canal cannot be obta! routes, WENATCHEE, Wash., Januar: (Special).~The unprecedented (’ in the California citrus belt have unt rices of commercial n Washington apples up 35 cents a box. oil. ORANGE, Téx., -January 28 '(Spe- cial).—Recent deulo'pmcnu in the ofl fields in this section andfin south- Wwestern Louisiana have stimulated de- velopment work, and e€ven the marsh lands around the gult are being leased by large operators. —swt trading in the rice m very quiet here, and the between farme! d mills {s breken. The moderats b lonlm rices has been dono cesslons. Shoes. ST. LOUIS, Jlnull‘v 28 (Special).— The shoe ind t4 contlnu& to )ut the pace for other manufa this section. The In!arnnlonll gnoo Company reports its western factories made ,000 pAirs of shoes: 1ast year, a gain of 20 per cent over 1930. The company has on hand orders suf- ficient to run its factories at capacity for the next five months. Other report similar condi- rei tione in the lines of priced shoes. t: medium and low ATLANTA, Jlmnr 28 — Fresh candled eggs glvo .fl:sv?ffii:'a’ as the cold wave struck: this section, and :oh:l:.r:}sla"{ngdlte 50 cents a dozen a 70 cents at retail. ey iene elusing t Iren and Steel. CHICAGO, January 28 (Special).— Iron ore production in the section north of thia territory in 1921 was | SO only 44 per cent of the amount mi in 1920, acoording to figures J’I:lt o‘:l;e rll-d here, but the deman Notes. ST..LOUIS, January 28 (Special). Vigorous steps are being t(ak’en t‘o)u- cure the lowering of costs in bullding construction here by the St. Louis 51‘:1;.;‘%6!5-. XL'& lbo leved that wage ns prol in the next two we’ek‘:m Devshiestad ATLANTA, January 28 == The Georgia mfi;’ (!:c Fow Company has put 501 'MRY pu Om nwrkon (@) Yo S o e g t the language of the Jaw be lmnuy construed. " Ce) Yed; it Is excluded. It nmv THE. EYENING STAR, WASHING HUM OF MACHINERY TELLS OF INCREASING BUSINESS ACTIVITY F“R GRAPHUPH[]NE Mills 3!“1 Factories Busy Prepanng for iR Prospectwe Trade—Dehipite Orders Placed—-Condxtmhs E]sewhcrc. ' and shlwnam is restricted to ull‘ NEW YORK. S’I‘OCK EXCHANGB Reodvedbql’rlvleuDM(ofl'&nolee. Ifi a Al% ll X ili!"é =s:=z‘=;a§;s:i4§§a=s'- 0w . 8% “ B o 8% 9% - UK 1% Am Car & Fdy pf. | 118% 118% 118% Am Chicle Co % 8 Th Am Cotton Ol 1% 1% 1h Am Cotton Oll aw as 6% ' % B .y 0% 8% ue e 1% % W% % % o 9 s, 31 8 105% 1084 300% Am Safety Razor.. &% 4% % AmShip &Com... %% ;;‘/- ':* s 0% “h Am Smelting. Am Steel Fdy. .~ 8%0% 81 Am Sugar. . % 66 Am Sumatra . ®w W Am Sumatrapf... 5 55 o8 Am Tel & Teleg. .. 110% 116% 1 Am Tobaceo...... 152 18 . Am Tobacco (B) .. 178% 1B8% 128% and | Am W Wks6%pt. 21 2 2 Am Woolen....... si% & 8% AmZinc & Lead... 18% 1% 134 Anaconda. ... 4T% Asso Dry Goods Atchison. .. 3 s Atchisonpf...... Atlantic Fruit Co. AtlanticQulf..... Atlantic Gulf pf. British EmpireStl #% 9% BritEmStl istpf. 66 6 Bkiyn Rapid Trn..” 9% Bklyn Rap Tr ctfs. 8% &% Burna Bros (A)... 116% 118% 1 urns Bros (B)... 29 tte & Superior. 25 Butterick. . California Pckg. ® & ge-gexaziggagesiy zi*§i§§‘5§$§!“:§!‘=§!'§"“‘;i?;fi Chi & Estn 1l So3zas. yuuesisgs ChiGreat W pf... u% ChiMil & StPpf.. 0% Chi & Northwn... 63% Chi & Northwn pf. 103 108 Chi R] & Pacific.! 82 = 22 ChiRI&P7%Dt. :2 ;“ W Columbia Graph.. 2% %% CimbiaGraphpf.. 12 1% 1% Comp Tabulator.. 6% &% €% Cond Cigar. .. n =z o= Cons Gasof NY Lo ConsIntiCalMin. 6% 6% &% Cons Textlle...... 18% 3% 18 Com A i o 1o o Corn Produc ey Cuban-Am Sugar. 18% 18% 18 Cuba Cane Sugar.. 9% % 9% er | Cuba Cane Supt.. 2% 2% 2% Davidson Chem... 61% 61% 6% - 1 Tk By 11 G *a3Eacgigepgrannguey, %% | Va Iron Coal ge-pgreziyageneiy n,t Fadgeazasfag: “23%% ik % u % 'a' !’!!: §°§'§§§§¥!§:§i‘i§'§!‘i Bzageeggpeiey: =i -t ] §¥!E;§§§'§E§!§i!=§£'§£§"§§‘§§§;¥ Open.. High. Low. 1:45. Saota Cecllia Bug. 14 e L board Air Line. % % % lunnubuek 25 @ ek SenguCappor. 1% 1% 1% % Sinclair OIL. . 9% % 1% Sloss-ShefMejd. ® o o o Southern Pacific.. 8% 80% 8% W% Southern Rallway 17% 17% 1% 1'% Stand Ollof Calif. & o % 8% 8tand Oflof NJ...118 . 178 78 . 178 Stand OlINJpf...15 115 15 115 SternBros pf.,../ g% 1% 91% 9% Stewart-Warner.. 33 #®% 2 -2 Stromberg Carb.. 28% 329 8% 3 .Studebaker....... 83% 89% 8% 89 Submarine Boat.. €% 0 0 Tenn Copper...... 10 10% 10 10% TexasCompany... 43% . &% &% % Texas Gulf Sulphu 0% 41% 0% 41% Texas&Pacific... 27 2% 27 - 2% Texsh & PCAOCIl. 8% B% 2% % N4 % 2% o% 6% ek 5 15 B 29 7% 2% 0 10 10 1% 18% “18% Union TankCar... 96 . 96 9 9 United Fruit. . 135% 17 126 12 United Ry Invpf.. 2% 2% 24 R4 United Retaf] Strs. 5% K% _ 63% ° (3% USCastIrP pf... 571 ® ® & "8 U8 Food Prod. ... €% 6% % USlnd‘:uAlmhol. ass 6% 0% 8% Va-Car Chem ‘Vivadou. Weatern fid g:n't: ?u. 5 s ckwire Spencer lm W% u% Willys-Overland.. &% 6% %% Woolworth....... u8% M4 18% HOURLY DAI.El OF STOCKS. 1lam..... 116 %0 xzmznm STOCK MARKET CLOSING IS FIRM Storm - Curtails Tradi_rig. ‘Speculative Shares Feature Short Session. NEW YORK, January 28.—Various speculative Shares, including many obsoure issues, were bid up by pools in the ocourse of todays’ short stock market session. American Ice, Na- tional’ Biscult preferred, Remington Typewriter, May -Department Store and Kresge rose 2 to 5 points. Among representative stocks, Mercantile Ma- rine preferred, General Electric, Mexi- l.‘«ln Petrol Il eoples Gas and As- od ds gained 1 to 1% Rais wm neglected exoept for a 2- point rise in Norfolk and Southern. The closing was.firm, sales approxi- mated 250,000 shari Lidertys Irregular. - Liberty issues and most other bonds were irreguiar. , Trading was curtailed by the storm, the wires of many commission houses being out of commission. Columbia anho?hane preferred made a fur- ther gain of 1% on its better financial condition. “The market was important only as’ it showed.that, with all the talk in professional circles during t about -impending reaction, v stock has been bmtht out. se ing has been largely for short ac- count. The rally was conspicuous in the oil stocks, in which the short in- terest was particularly heavy, owing to the. widespread idea that crude oll priges were about to be cut again. Selling of the steel and copper shares was checked, and typical speculative favorites, such as Stude- baker, Baldwin Locomotive and Mexi- can Petroleum, rebounded sharply. HOSIERY MOVING wn.’t. NEW YORK, January 27.—No mat- ter what msy be the condition of business fn other lines, make’s and Iel]lrl of women’s fine silk hosiery to_be having npo difficulty in l ting rid of llmlr products. Sales conzlnue active, despite the tendency on the part,of some buyers to wait Hees as a result of the raw silk sitaation in Japan. Agsinst this, however, it is asserted that there will bave to be a considerable break in ‘the raw material before the pres- ent costs of the finished goods can be affected. JOBBERS GETTING BUSY. YORK, .hmnry 27.—Although buying on the part of the lobbln' trudu foHowing the t""m‘ of sev- eral important lines of cotton goods. has not assumed anything like hdom rofortlunn. there iz now enough business on the books or in prospect to keep the mills engaged for some time to come. At the moment hams appear to be in the lu-nn est position, with one of the ls-d!n' withdrawg and the withdrawal omer important one not far dhunt es also are being taken well, 'n‘h Lha reduced ‘high-count con-~ structions sought quite actively. MONE’ ATLANTIC DISCOUNT com-&n‘rlon Monsey Bids. Tol. William M. President: Seifiaty gs Brgtn: Jr. Teamirezo In nectiond 1 and * in other cities enable us:to fur- nish Tn“" in any. ‘yr Seepriton 3 Stone & Fnirflx— 4 N. Y. Ave. Andlyzing Your Conservative v..lnnlon- !n‘vcilhc Rate —If you put some mon: e stch md‘; 7o will be ..,:,.:é §'Ge with the results Railroad Bonds / Send for Bond Circylir 601 Redmend & €o. 1516 K Street, ‘Washingten, D. C. New York Philadelphia Not Through Favor But by Diligence = ¢ Any person may obtain for himself, . through a living trust or an agency, or for his ‘heirs and_dependents, through naming this Bank as Executor, Trustee or Guardian, all of the protection, the reliability, the strict ac- countancy which the Trust Department of a big and successful Bank like this can give to the care of property and investments. ,This Bank, from a small beginning, grew : great through the confidence of depositors, large and small. this Bank' for administration, receives all the care, the courtesy, the consideration whichis - : given to larger estates. . HOME SAVINGS -~ - ‘FINANCIAL, " 18 First Mortgage e STMENTS” can cured now in amounts of SZSO Up to $10,000 The , only -N-my -I\ form d iavestment yielding such of interest. The™ same courteous. prompt sad t consideratios gives to all is- Certited_Certincaten of Jutle 2o ‘without cost te is- 821 15th St. Main 3100—3987 No Lot Too Lirge No Lot Too Small Direct Private Wire to oriz B Bl £ . (Establiahed ) K New York clv Full Service ACOOUNTS CARRIED ON MARGIN. This Is Innpowtant to You The NATIONAL MORTGAGE AND INVESTMENT CORPORA- TION, of which Mr. H. Rozier Dulany is president, has been in successful operation for four months. It is meecting in a practical way the building and housing ‘needd of the District of Columbia, and is making very attractive carnings on the money employed in its ‘operations. Washington ha's heretofore been without an established discount- banking institution to standardize discounts and provide a ready agency dor dealing in real estate securities based upon second as well ag first trust mortgages. The National Mortgage and Investment Corporation supplements the splendid general banking facilities of Washington. Other business as well as that of the builders is benefited by the release of- money tied up and dormant in second trust notes. Institutions doing a general banking business will be benefited by a stimulation of business through building operations, which multiply and give activity to’ bank’ accounts.- Investments in the National Mortgage and Investment Corpora- tion are sgfe and profitable. The character oi the management insures cominued and growing success, with stealy increase in value of the investment, which accrues to the benefit of the stock- holders all alike. I A portion of thn Stock of the Natfonal Mortgage and Investment Corporation is being offered at the same price pald by the officers and directors. Subucriptions are recelved by the Hughes le.ne. Corporation, 1418 1 Street Northwest. Phones. Main 853 and 8 AGES The Safest Security on Earth ges are all for less value of the property.” Phillips’ First M %% f‘ the ready s l.e'Ayw—hohh S-fety. 2. Reliable Security. 3. Liberal Income. 4. Insurance Against Loss. * 8. Protection Against Dcprecuuon. . 6. Prompt Payment of Interes “" 7. Repayment of Principal in. full at Maturity. Choice First Mortgage lnvestments $190, o 230 B0, 2 A small estate, brought to 3 % Interest on Savings - " 15th gnd Peumylvam Avenue CAI‘ITAL AND SURPLUVS oo S e : A ass Ave. ; Btl}and H Sts, NE. Safety Deposit ques : : 3&7:1: St, sw TG $300 Per ¥