Evening Star Newspaper, February 20, 1922, Page 18

P B 4 A O g e FEDERAL INCOME AND EXCESS PROFITS TAXES Conducted by DR. JOSEPH J. KLEIN, C. P. A. (Copyright, 1922, by Joseph J. Klein. All rights reserved.) (Tax questions should be addressed to Dr. Klein, in care of The Star. To receive attention, all communications must Le signed. Dr. Klein's answers will not “reveal the Identity of iaquirers.) - = ARTICLE XXVIIL | an evil in quite a different way. Sec- 1 referred in my articles of yester- | tion 202 (a) (2) deals with the sub- ject. It does not attempt to reach day to the attempt of the state of|yipy made prior to January 1, 1921, New York to tax donors on the dif-| It provides, hawever, that in the case ference between cost (of January 1.|of any glft'of property, real, personal A or mixed, aequires after lecember 1819, value) and the greater value of 3] 530, the recipient of such gift, the the gift at the time of making the | donee, shall treat the proceeds of sale gift. 1 also referred to the deciulons | or other disposition of such gift as: = _,. () On the same basis as it woul of the appellate division of the 8u-|,,y; pag in the hands of the persons preme court of the state of New York.| from whom the donee had received which denied the right to the con- troller (the official who administers the income tax law of the state of the gift, the donor.. unless (b) the donor himself had atquired the prop- erty in question by gift, in which New York) to so tax the donor. Congress, in the revenue act of 1921, has sttempted to cope with what it would have been if the property were sold. or otherwise disposed of by the first predecessor who had ac: event the basis should be the same as many T ry officlals deemed to be quired the property in question othe; wise than by gift. Congress realized the difficulties which would beset the taxpayer who disposed of a gift in his endeavors to ascertain the proper basis of comput- ing the resulting gain or loss. The law provides that the commissioner shall make every endeavor to ascer- tain the tgue basis in every case. It must be borne in mind that the section of the law under discussion changes past procedure only with ref- erence to such gifts as were acquired subsequent to December 31, 1920, Tt does not change the law with respect to gifts acquired prior to that date. Gifts acquired prior to January 1, 1921, are to be treated by the tax- payer as though they had cost him the equivalent of the fair market value of the property received, as of the timo of the recelpt of the gift. If the property in question had been acquired prior to March 1, 1913, the value of that date must be taken into consideration. The importance of ‘this date will be Yeferred to very shortly. QUESTIONS AND ANSWERS. Q. (82)—It is my daily custom to read your Interesting copyrighted ar- ticles on the federal income tax laws, but have noticed several articles in which you state that a husband living with his wife, or the head of a family deduct $2.000 as a personal e: STAR, WASHINGTON, emption, although the Instructidng printed on the forms.provided by thl government are to the effect that the exemption is $2,500. . Can this variance be hi onized? A. married person, living with husband or wife, or the head of a family may dedtict $2,600, only If his net income is not more than $5,000. It it is more than $5,000, he may’ de- duct $2,000 only. The form you in- closed (1040-A) applies to people with net incomes of not more than $5,000. Q. (83)—(a) Do I have to compute as a part of my income a dividend re- ceived on my daughter’s life insurance, when 1 have always paid the premiums, and thewjividend is cnly a small fraction of the amount paid in premiums? (b) Are ihe fees which a minister re- ceives for weddings to be computed as earnings, or are they regarded as pres- ents? (¢) If we keep a boarder, and what is paid for board goes to my wife, is the amount 8o received, minus the cost of her food and the care of her room, to be computed as earnings? A. (a) The dividend must be re- garded as income, unless it Is not a true dividend. Write to the insurance company if in doubt. 1b) Fees for weddings are to be re- garded as earnings. (c) Report ds income the balance left after deducting from amount received worn away. . WARNING! IT 1S A DOUBLE ACTION DENTIFRICE: (1) Loosens clinging particles. (2) Washes them away. ¥ . Sensible in Theory. You can’t beat common sense when backed by modern science. Healthy saliva is practically neu- tral, sometimesslightlyalkaline. Colgate’s Ribbon Dental Cream is mildly alkaline, practically neutral, and cleanses without disturbing nature’s balance. Avoid dentifrices that are strongly alkaline or appreciably acid. Colgate’s helps to Colgate’s cleans teeth thor- oughly—no dentifrice does ‘more. A LARGE tubecosts 25¢—why pay more? Enamel thoroughly. false claims maintain the right mouth conditions. Correct in Practice. Today scientific dentists know that harsh drugs aad chemicals harm mouth tissues. Colgate’s Ribbon Dental Cream does not contain them. Authorities agree thata dentifrice should do only one thing—clean teeth possesses any other virtue, but it does possess this one in the highest degree, and in a higher degree than any other kind of dentifrice. the cost (1) of food supplied, (2) wear and tear of linens, etc., furnished; (3) fair rental of space occupied by boarder (if you pay rent), (4) fair proportionate charge for servants(if tiere Is a servant in the house). Q. (84) (a) The 2 per cent tax paid at source on corporation bonds. Does this mean that all Interest received on bonds of corporations must be reported and 2 per cent of the amouht 8o re- celved is deducted because the corpora- tion pays that at the source? (b) I bond interest taxable on in- comes of less than $5,0007 (¢) When is the yellow bond interest blank used (form 1001) and when is the white one used (form 1000). A. (a) Yes; deducted as a credit against tax. (b) Yes; except interest’on exempt bonds, like municipals, liberty 3%s and victory 3%, and on bonds the intere from which is subject to surtax only, 14);(‘-; liberty 4%4s and 4ls and victory (c) See later article in this series, Q. (85) (a) May I deduct dues” and “charity donations’ come tax report.” If 1 may (b) Must T first report my entire in- come and then make a special item of ““church dues” and “charity donations™ at the end of the income tax report? “chureh from “in- (c) Should the two items be kept separately, o should the “church dues” and “‘charity donations” be added to- gether? A. (a) Charitable donations to or- ganizations and contributions (includ- ing church membership duer or pew rents) 1o vour church are deductib] Save the Life of Your Tooth “Wash”— Don’t Scratch or Scour Teeth Gritty, soapless tooth pastes may show quick results. If you scour away your skin, nature can replace it. But even Nature will not replace tooth enamel once it has been The most effective and trustworthy method of keeping your teeth bright and smiling is the use of a gentle, “washing’ non- gritty dental cream. COLGATE'S CLEANS TEETH THE RIGHT WAY “Washes”— Doesn’t Scratch’or Scour Colgate’s does this. No are made that Colgate’s 2\ CLEANS Truth in advertisin, implies honesty in m-nu’ cture Always say “Bayer” when you buy Aspirin. When you see the name “Bayer” on tablets you are getting genuine "Aspirin prescribed by physigians over 21 years and proved safe by millions for Colds ; Toothache i H&Jache v Neuritis Nk Lumbago Rheumatism Accept only “Bayer” package which contains proper directions. Handy “Bgyer” boxes of 12 tablets cost only few cents. Druggists also sell hottlesof 24 and 108, © - dplas 3 W Gl Lask W Sayer Masuischus of Meucsscimeidester. o Naliagliessid \ up to 15 per cent of your net income | (before subtraction of personal credi (b) First calculate net income, the subtract donations before deducting personal credits. ‘(c) Ttemize all donations. T think you will find Form 1040A, the one which you must probably file, v simple to prepare. / e Washington Stock Exchange SALI Washington Railway ge Capital Traction—1 at 9 Lanston Monotype- 1 6s—$300 at 97 jnoticeable. D. 'C., MONDAY, FEBRUARY 20, 1922, ' UPWARD TREND IN BOSTON AREA GIVES HOPES FOR BETTER TRADE Plants Now Operating at Greater Per- centage of Capacity—Strikes Menace Cotton Mill Production. BY EDSON B. SMITH. in future deliveries. without being Special Dispatch to The Star. Sai) Jetito Rcuciiex SaCRZ0Rcents F BOSTON, February 20.—Predictions | of New England bankers that 1922/ Citrus Fralts. would be a yeas of slow but steady| NEW YORK, February 20 (Spe- improvement are apparently being | ¢ and for California naval < continuecd active today, with fulfilled. Business Is undoubtedly | getting better, bank clearings are in- creasing and unemployment is less | Manufacturing plants as a whole are operating at a greate mons - showed slight ruary 20 (Special).— manufacturers here are percentage of capacity. The fact that | sumewhat disquieted over the pos- this trend is apparent in Februsry | 3ibility of longer skirts this summer, as they fear that this will mean a re gives hope for much better trade a turn of demand for boot-length silk month or two hence when the normal hosé, instead of the full-length xilk spring Impetus will help it along. !stockings which the short skirts Sales .at retail during the last year | have necessitated. have been far above production and 5 the point apparently has been reached where jobbers and retailers must! ),:"'I'_"hmm T order from manufacturers to replace ! .. S, S C I S0 Dy e o, manfectro | Gial) —Hundreds' of ~homeseckers 1t 18 considered almost certain that | here _ inspecting . the e tew | BOuSes and apartments in Buckman the cotton mills throughout New |J 4 - England which have not already cut | ik, built by the government to wages of emplo will do so before | o™, 0 o e homes will he many weeks elapse. Manufacturers|y,iy oi" 2uttion on March 18 by the in New Bedford and Fall River are:pyi 1 Goiid SHiDping Board ander apparently awaiting the outcome of § 4y, Jli 0™ DO I T N the strikes in Rhode Island. New | /00 Hampshire and northern Massachu- | . " , but they assert that the lower wages and longer working hours that prevail in the mills of the gouth make it necessary for the New Eng- Many of those who failed to ure homes at the sales of similar wellings 1 to bid in the Buckman sale. ROIT, Februa 20 (Special). AF 01a Dy 4 Money BONDS. Bid and Asked Prices. . PUBLIC UTILITY. Bid. Asked. | American Tel. and Telga. 4s.... & s | Amerfcan Tel! und Trigu, 4155 1 Am. Teletl e B waal o oind el couv. Gs... . U1 111% | E 2nd Potoma cUe TN Ancos ; . and ¢l and P, Capital T City and Suburban’ Sx. e etropolitan K. Potomnc Fleetric R, ist ric deb. Gx. . Power . Commerce. Distrigh ... Farmers and ) Federal 200 American Security and Trust. 240 Continental Trust 981 National Savings and Trosi.[ ] Union Trust . . Washington Loan and Trust.... SAVINGS BANK. Commerce and Savings. . = Seventh treet Union Savings . TITLE INSURANCE. Columbia Title Real Estate Title . MISCE Oolumbia Graphophor 3 Columbia _Graphoph 10% D. C. Paper Mfg. Co.......... 75 ... Merchants® Transfer and Storage 110 Mergenthaler Linotspe 0ld " Duteh Market " com 0ld_Dutch Market pfd Lanston Monotype Securlty Storage Washington Market | *Ex-dividend. _— COTTON MARKETS. NEW YORK, February 19.—The cotton market showed renewed strength during toda early trad- ing, with present crop deliveries making new high ground for the movemant on a continuation of the recent buying movement, There was a good deal of realizing at the opben- ing advance, but it was absorbed by continued covering and trade or commission house buying, with May contracts _selling_up to 18.20 and July to 17.70, or 22 to 25 points net higher. New crop positions sold § to 19 points net higher, with Octo- ber touching 17.16. = Futures opened barely steady. March, 18.25; May, 18.10; July, 17.55; October, 17.00; December, 16.86. The early advance was encouraged by reports that exporters were buying in the soythwest, but there was a good deal of commission house realizing around 18.20 for May and 17.70 for July. These prices represented advances of $11 to $12 per bale, as com- pared with the low figures touched at the end of last month, and the dis- position to take profits was probably increased by uncertainty as to the number of notices likely to be issued against March contracts on Thurs- day. Except for profit taking there was little selling pressure, and after showing reactions of some 15 to 20 points the market held quite and steady around midday. NEW ORLEANS, February 20.— Buyers were aggressive in the cotton market today and they forced ad- vances of 22 to 31 points in the first half hour of the session. The demand was based mainly on the further rise in sterling, spot sales of 20,000 bales in the Liverpool market and private messages from brokerage firms there to the effect that cheaper money and a revival in export trade were lead- ing to a better demand for cotton. March rose to 23 and October to 16.54. Fytures opened steady. March, 17.10; May, 17.07; July, 16.99; October, 16.45; December, 16.33. LIVERPOOL, February 20.—Cotton —Spot in good demand: prices firm. Good middling, 11.13; fully middling, 10.83; middling, 10.48; low middling, 9.58; good ordinary, 8.28; ordinary, 7.58. Sales, 20,000 bales. including 11,000 American. _Receipts, 28,000 bales, including 14,200 American. Futures closed barely steady. Feb- ruary, 10.18; March, 10.22; May, 10.2 July, 10.20; September, 9.94; October, 9.86; December, 9.74; January, 9.69. s —_— BERLIN BANK STATEMENT. BERLIN, February 20.—The state- ment of the Imperial Bank of Ger- many,'as of February 15, shows the following changes: Total coin «and bullion increased 640,000 marks, gold decreased 1,000 marks, tfeasury notes decreased 1,158,450,000 amarks, notes of other banks ‘increased 1,739,000 marks, bills discounted increased 7,126,020,000 marks, advances de- creased 48,897,000 marks, investments decreased 3,607,000 marks, other securities decreased 480,893,000 marks, notes in circulation decreased 850,- 481,000 marks, deposits increased 6,331,699,000 marks, other liabilities decreased 15,910,000 marks. Total gold holdings, 695,689,000 marks. A hard -Earicr money conditions are begin- ning to in land manufacturers to bring their working forces into line. The strikes | appear the agricultural have had little effect on the cotton i®€ stion of Michigan. Many of the koods market other than to intensify country s have paid off their the existing duliness. indebtedness to the Detroit hanks but arwr making :nquiries about se- > 5 curing funds around April 1, when Rainfalls in Texas Area the. to need a Tarre amount. Idison Company is pre- paring to spend $3,000,000 in zddi- tional equipment and betterments Many orders for additional light and {power are being received and Presi- * Revive Business Partly BY JAMES R. RECORD. Special Dispateh to The Star. Rent Dove of the = cial Dispat o {dent Dow of the power company de- FORT WORTH, Tex., February 20. 1 clares this indieates: Detron 1don: —Revival of business activity has will he going at good specd by followed the rains throughout north, south and east Texas, but trade in west Texas still continues slow today because of the drought in that sec- tion. The conditions in the extreme northwestern countries are some- what better than on the plains, but still are far from normal for this period of the year. Grass on the cattle ranges is playing out rapidly and the stock raisers are being driven 10 the expensive expedient of buying feed. Smelters around El Paso are com- meneing to show signs of life as the mines in Arizona and New Mexico are resuming operations. The advance in grain prices has materially cheered 1 SAYS ONLY SMALL PART OF SWINDLES DISCLOSED Dlistrlct‘Attorney at New York Be- lieves 90 Per Cent of Victims Keep Facts Under Cover. B the Associated Pross, * NEW YORK, February 20.—Though hundreds of complaints of stock the grain growers of the Texas pan- | swindling throush ih e handle, who still hold large stocks. |bucketshops have bec Flour has made big net gains in all | indict returned the big milling centers within the okers, District Attorne. last week. . . ight expressed the belief The Santa Fe and Frisco lines are | that not 10 per cent of the fraud vie- preparing to make large expendi- | tims hud reported their losses, tures for improvements throughout] 1l said he thought many persons the southwest and this will benefit [with complaints to Indge withheld many laborers now unemployed. Or- ! them for feor of publicity that would ders have been issued at many points | Lrinz ridicule on e A4S “easy on the Rock Island road 10 re-e; v [ marks" 3 forces laid off during Januar: ere should be something done Texas oil production for las : to prevent the conditions now exist- showed a restriction of production of e and to proteet the 9,000 barrels a day from the figures against bucketshops, brokers of the previous week. who trade against customers' orders and trad in worthless securitie he added. Building Activity Grows In Frisco Area; Easy Money BY LYNN C. SIMPSON. Dispateh to The Star, SAN FRANCISCO, February 20.— Persistent rains all over the northern part of California has checked retail irade and delayed farming opera- tions, but the prospects for future prosperity have been increased by abundant moisture. A heavy snow- fall in the mountains, followed by cold weather assures ample water for power plants and irrigation during the summer. Bullding activity 13 on the Increase despite the temporary halt to opera- tions caused by the weather. Capi- tal shows more Inclination to tyrn to building construction as easier money rates are put into effect. Bank re- serves are high throughout the dis- trict and financiers speak confidently of a business revival just ahead. Sharp reductions in retail prices are stimulating _the clothing trade. The smaller profits in many cases are be- ing balanced by speedier turnover. Tha successful automobile show just ended has revived Interest in that line and some agents report heavy sales. The trade as a whole is in better con- dition than for some time. The stock of used cars is being well cleared up. Commodity Reports From Various Sections Banton said he favored federal legislation to forbid use of the mails to advertise or sell securities previously investigated and appro by the Post Office Department PLAN CONVENTION TO BOOM BUSINESS “Truth Week"” Will Intrude Drive for More Accuracy in Ad- *ST. LOUIS, Mo., February 20.—The National Retter Business Commis- ion, in which bureaus of thirty-five cities, Including the Better Busines Bureau of Washington, D. C., hold membership, will hold a four-day convention here, beginning tomorrow and closing Friday. “Truth week,” which has as its nucleus the better business conven- tion, will be observed this week, which includes the anniversary of the birth of George Washington, and during which time truth in advertis- ing will be dedicated. Business men will write their newspaper advertis- ing to correspond with the truth cam- paign, and the theme will be discussed before civic and commercial organ- izations and other large groups.. “Truth week” is expected to be ob- served this year in @ number of cities and next year in most of the impor- tant cities and towns in the United States. The week at first was in- tended to be confined each year fo the city in which the Better Business Commission happened to hold its February semi-annual meeting, but the plan quickly assumed national proportion. Complete plans_ have been sent to the Advertising Club of Washington, D. C, for its con- venience in organizing “truth weei” but it has been learned that officials of the Advertising Club in that city have decided to delay the campaign for at least two months, as there is bility of a conflict with other <" campaigns already arranged Flour. SEATTLE, February 20 (Special —d- in Flour shipments to Japan, China the Philippines are averaging about 15 600 barrels a month. From July 1, 1521, to February 1, 1922, 1,110,300 barrels were shipped to the orient from Puget sound mills. Near Beer. READING, Pa., February 20 (Special). —~The public is losing its taste for near beer, according to brewers in this sec- tion. The four breweries making a nroduct containing not more than half of 1 per cent alcohol have reduced their output nearly 50 per cent in the 1ast year, turning out 39,589 barrels com- pared with 73,488 in the preceding twelve months. for. Included in the number of better business bureaus affiliated with the commission and their managers who are expected to attend is the Better 20 (Special).— | Business Bureau of Washington, D. Shoes. CHICAGO, February There {3 a temporary lull in the leather |C., of which F. X. Whelley market here and tanmers report more | head. conservative buying by manufacturers.! The total number of firms in the Apparently the spring season is not yet| United- States which, through the under way with the shoe salesmen, as! thirty-five better business bureaus, the demand for shoes for men seems 1o | are represented in the commission is be falling off. approximately 3,000, it is said, and the number Is growing rapidiy. Most of the medium sized and smaller citles are expected to organize bet- ter business bureaus in the course of the next several years.. is the Automobiles. DETROIT, February 20 (Special).— The Cadillao- company is_ speeding up production in response to demands from dealers. About 7,000 workmen now are cmployec: : RUBBER PROFIT REDUCED. NEW YORK, February 20.—The New York Herald says: United States Rubber had a difficult year in 1921, the product of reduced prices and a diminished volume of orders, as com- pared with 1920. Although its profit, after interest charges and writeoffs of inventory, was only $470,817, against $21,220,983 in 1920, a prelim! nary statement says that all accounts were met when due and financial obli gations, including forward commit- ments for materials, were reduced $40,000,000. Drastic reductions of in- ventories and other charges necessi- tated an inroad of $17,300,000 in ac- cumulated surplus, carrying it down to_$30,031,633. The company’s met sales declined $91,679,762, or 35.8 per cent, from the total in_ 1920, which was a record vear. The management wrote off $10,000,000 as the excess cost of fin- ished goods carried over from 1920 and sharp price cuts reduced possible profits, as estimated on prices cur- rent at the start of 1921, some $18.- 000,000. The company reduced its labilities about $23,000,000. Conl. ST. LOUIS, February 20 (Special).— There is some inclination expressed among the -members of the railroad workers unions in favor of a-strike in conjunction with the mine workers next spring, but there is also opposition freely expressed. AZELTON, Pa., February 20 (Spe- cial).—All colleries here mow are in operation at once for the first time since last winter. Production, how- ever, is only about: 85 per cent of the normal capacity, owing to wet coal freezing In transit to the breakers. Steel. NEW YORK, February 20 (Spe- clal).—Bids will be asked this week for equipping the two liners, South- ern Cross and American Legion, of the Munson line with additional oi tanks and refrigerating facilities. KANSAS CITY, February 20 (Spe- cial).—The Kansas City Chamber of Commerce has _ virtually completed negotiations with the Andrews Steel Corporation and the Newport Rolling Mills of Newport, Ky., to construct a plant here which would employ 3,000 men. ALLIANCE, Ohio, February 20 (Special). — Transue & _ Williams, makers of steel forgings, have start- ed a double shift in their plants here in order to care for receg orders. 2 Gratn. SAN FRANCISCO, February 20 (Special).—The designation of San Franeisco as a harley contract mar- ket and of Los Angeles as a contract market for barley and corn has in- creascd dealings § those - emeed’ i Calisormia, as fL permits deniitias BAR SILVER QUOTATIONS, LONDON, February 20.—Bar silver, 33%d per ounce; money, 213 per cent. Discount ' rates—Short and three- month bills, 3% per cent. NEW YORK, February 20—Foreign bar silver, 64%; Mexican dollars, 4%. N. Y. BROKERS SUSPENDED. NEW YORK, February 2 uspen- sion of Kohler, Bremer & stock brokers, was announced from the ros- Consolidated Stock Ex- <3 at Bristol and Camden are | 4 proposed new mill at Sandt's Eddy. WORLD STANDARD ' OF MONEY NEEDED {Controller Crissinger Says the Time Is- Ripe for ! U. S. Proposals. In an address before the New Y« | Chapter, American Inetitu ing, at the Hotel Commodore, Saturd { night, Controller of the Currer | Crissinger reforred th | tems of the world as d ho stated that the | tion is 1 { economic { But he wi | curreney into sounder | worid 1 jcan ultir tial mone ao na ;..."y. linte v sump ’hm): zold i} State 1t oria’s me cent of | this_country {of the wor literally proper us Zocd fo “Senator that we 0 of our a Igpvv e de urren for: us 1o} Owen serve o the redistr to its B a sou ren: ard Inaction Ma If we do not do tl Be Costly. s in time t* stances sult_in “Now is the t { tion for this redistributic the restoration of money Kys the c of the gre me int o to berin D country, our duty nd to the world 2 that we take the 1 by w curr made entir Mr. Cooper in New York. Wade H t Continental 7 ithe m 11b = i the Wi last wook, Agricultural Con Improvement in tions is beginning der! in an o irecent rey Corpora loans for Mey rep! l gene jin_a forn . om Januar clusive, he s has been which 000 ments of loar powers of the o Sum, he added. cattle Joans a and public Repayme: ’.\h\'nr tions and tural and live liguidatic through Repayments tural and livestog -d TLee0, cas repaid by bank live stock loan by co- - aggre repayments before due di Merchants® Trust Company ¥ No sooner had the branch post moved its effects from the floor of the Southern' buildin urday nighps than workmen ente upon the task of rearran, space to accommodate the new ‘“’, tha chants’ Bank and Trust Compan is to make its home there in the vers, near future. Peter A. Drury. president of the | company, £aid today that it would take about a month to have the room in shape for occupancy, and declare that when finished the corner would show one of the most comfortable and tastily arranged banking houses in | the city. ; —_— OIL SUPPLY CONCEALED. Engineers Charge Japan With Mis- representing Resources. NEW YORK, February 20.—Charges that propagandists have concealed the extent of Japan's oil pos {are made in a statement is 'hy the Amer n Institute of and Metallurgical gineer opening of its annual meeting. oil re “Japan possesscs much m that her propagandists have tried to ve she h the make the world belic statement says. At the present rate of consump- tion, according to the statement, Japan has three centuries of supj while the United States has on twenty years of probable oil reserves SOUTH AMERICAN TRADE. | ]mulalud supplies at South NEW YORK, February Accu- mericar, ports pave been pretty weii cleai ¢ away and general cconomic financial conditions in the countries of the southern con give evidence of substantlal recovery, Allen G. Hoyt, vice president of 1) National City Company, reports, fo trip major ent 0 Mr. Hoyt expressed; lowing his return from a South America. the opinion that the United Stal should have little difficulty in con peting with foreign nations in Sout% America, because the goods supplicd Temporarily nst this co were of known qualit exchange rates are aga try, he said, but this s {vide an insuperable I MILL COSTS $500,000 LESS. ALLENTOWN, Pa., y The Bath Portiand Cement Company by walting a year saved half a m: lion dollars in the comstruction of its Estimates a little more than a ar ago totaled $2,250,000. Today, itis e |timaed, the unit'can bo constructed tenders are for $1,750,000, and new asked for- IDLE CARS DECLINE 21,845 NEW YORK. February 20—Ildle freight cars tofaled 467.997 F 8. compared with 4395 at th the last month._a drop of 21.845 cars, according fo official reporix. Of (he total 206,659 repregented surplus cars, or cars In good repair, a reduction 34,022 compared with February The remaining 171.938 cars repre- sented those in need of repairs.