Evening Star Newspaper, March 3, 1922, Page 26

Beautiful Detached House Saul’s ‘Addition Just Finished 1232 Crittenden St. Open Sunday, 2 10 5. Week Days, 7:30 to 4:30. OWNER, C. S. BATTISTA. 9 rooms and bath: 6 bedrooms, parlor. dining room, reception hall, kitchen, cement basement; garage. Large Lot, 50x145 H.w.h.. electric lights; frame building; hardwood floors down- stairs. One of the Nicest Houses in the Cty. . ‘x BET, stormy weather, exposure, sniffles, and the heavy com on: Dr. King's New Discovery breaks it up quickly and pleasantly. Head cleaned up, cough relieved and you feel better. At your druggists, 60c. 1lq)r. King’s Bowels Begging for Help? Dr. King’s Pills will bring )l'Z)u the happiness of regular, normal bowels and liver functioning. Miid but al- ways reliable. At all druggists, 25¢. PROMPT! WON'T GRIPE Dr ng’s Pills - WARNING! Always say “Bayer” when you buy Aspirn. When you see the name “Bayer” pn‘tai)lets, you are getting genuine Aspirin prescribed by physicians ovet 21 years and proved - safe by millions for Colds Toothache Accept only “Bayer” package which contains proper directions. Handy “Bayer” boxes of 12 tablets cost only a few cents. Druggists also sell bottles of 24 and 100. - A i mumflmflmmawflw et BY PHIL S. HANNA. Special Dispatch to The Star. DETROIT, March 2.—With Febru-' ary, always a cruclal month, safely past, bankers here are satisied the jupturn in business will continue steadily throughout the year. The demand for money is still strong, ibut the supply is becoming gradually more abundant and rates are going down. Building ef stores and busl ness edifices, which provided employ ment here all winter, is giving way to home construction. This is stimu- lating the demand for lumber and yards here are buying finishing woocds in fair volume, although the cheuper jgrades are chosen. Many manufacturing lines outside {the automobile and accessory trade jare making up for lost time. The Detroit Solvay chemical plant is op- erating at capacity, and the same | true of the Michigan Alkali Com- pany. . Production at the automobile plants shows no signs of abatement. In fact, the volume of new orders has surpriscd even the most enthusiastic of the automobile boosters. If the present volume of business is main- tained, Detroit's output of manu- factured products will exceed the 8y e b m m la total of 1921 by 331-3 per cent in 1t r Business Location ! 13th St., near F Two stories and basement. Building in splendid condition. Possession immediate or de- ferred, as may be desired. First Trust, $40,000 Easy Terms McKeever & Goss 1405 Eye St. Main 4752 N Read)) to Give 8 Instant Service {gon Plumbing L % 1 Skilled mechanics always your home, store or shop, thus saving labor costs. TAlso reasonable on Tinning and Heating. MAURICE J. COLBERT Heating—Plumbing—Tinning this my local Atlanta in bullding i Thiy record Price, $70,000 - | Commer longed strike. { WILL CONTINUE ALL OF YEAR| Conditions in Detroit Are Far From Dis- couraging, Bankers Think—Money Sup- ply Increases; Loan Rates Falling. tonnage and at least equal the rec- Jord of last year in dollat value. Real Upturning Point Expected Soon in Atlanta BY pecial Dispatch to The Star, ALPH SMITH. ATLANTA, March 3.—The real turn- iz point upward in retail and whole- xpected this month. was expected. ess decreased less than ney value in the etter inquiry and naterially and plent February proved a was slightly gures f slle trade throughout the southeast is Retail showed a decline in the early part of the year as compared with 1921, but Wholesale b per cent early Wholesa'ers and jobbers now report a | e are cxpected to increase steadily from now on. banks have reduced their of money to be had for legitimate business en- | terprises, trade n period. The loans s now anner month for onstruction. totaling $1.045.000 were issued. n advance of the d for January, and combined Per- The._co- Holders are looking for better prices, gations. level and there is little tendency to dispose | of cotton except to pay pressing ob- ! Return of the price to the twenty-cent-a-pound would soften the spot cotton situation. iRecord Latent Buying probably Power Seen in St, Louis BY J. N. FINNING. Special Dispatch to The Star. March 3.—The capital now ready for investment in this sec- tion reveals what is probably the larg- est latent buying power on rg(‘ord hergé‘. conomic readjustment toward pros- perity through pric the construction industry. {1s growing among the building trades for wage reductions, but lack of ac- tion is laid at the doors of some lead- ers, who are alleged to have shifted responsibility for counsel to that end to members in the ranks. ST. LOU only awaits acceleration and cost liquidation in Sentiment Contractors and manufacturers also ave been halted by * Commission. ially s 3 X say —Repairs _and Installations. 5! créait maximum and : anywhere in suburbs as well@| further. as in city. | pected. iare agitating for lower freight rates {on fuel and building materials. Re- cent petitions by the Frisco road for lower rates on sand, gravel and coal the Interstate m coal mining loans of Tlli- ates miners are not finan- ted to engage in a pro- Retail merchanfs there they have already reached x cannot expand | Nevertheless, a strike I8 ex- the Better prices for farm products have Commodity Reports resulted in increased receipts at local “on the job.” and our own(|stockyards. Current wholesale and motors to hustle them ¢~ retall business remained unchanged s week. From Various Sections Paint. CLEVELAND, March 3 (Special).— i i | . 621 F Street ™355, 07 ! The local Glidden paint plant is oper. , s ating with a full force, and with two- 9 thirds of the employes working over. i time until 8 p.m. The Sherw n W FLORIDA BY SEA JACKSONVILLE (Via Bavannah) From BALTIMORE Tuesday, Friday, 6 P.M. $30.96 ¥e, Top $55.73 Meals and stateroom accommo. dations included. Extrs for Promenade Deck Rooms. Tickets good to return ustll May 31 utomobiles carried. (Closed cars sxcepted.) Merchants & Miners Trans, Co. Pler 3, Foot 5. Gay. Iolnholo.. ul 690';. Heada.che Neuntis 'S Ready About floor and basement. throughout. cation. plys THE F. H. SMITH COMPANY 1414-16 Eye St. N.W. Temporary Location Neuralgi e March 1 812 17th St. N.W. Handsome, new offices on first ut. Very desirable lo- For full particulars ap- Modern Rheumatism’ Pain, Pain the ! * the two months were the largest ever recorded here. operative pian for marketing cotton is making splendld headway in the state. An average of 2,000 bales a day has been signed up in the last week. lams and Benjamin Moore paint com- panies report Increase of business.,, Furniture. PHILADELPHIA, March 3 (Speclal). —The largest department store here asserts that its annual furniture sale Just concluded the most success- ful in the history of the store. Coal. \ KANSAS CITY, March 8 (Special).— Coal sales and production in the Kan- sas field have been Imcreased by the possibility of.a strike next month and by recent cold weather. manufacturing interests \are in reserves. laying N Fish. NEW YORK, March 3 (Special).— | Advices from Vancouver Indicate that British Columbia canners arc antici- pating somewhat lower costs for their 1922 pack of salmon. They are getting their tin from England at prices said to be 50 per cent under those paid American makers last year. The salmon market here slowly, but steadily advancing. Automobilen. I BAY CITY, Mich., March 3 (Special). —The body plant of the Chevrolet Motor Company is working a night i shift of 100 men in addition to its full day crew. | Wools. PHILADELPHIA, Ma —The textile 'vinlnu_v are stro: longer skirts. If s ened several inches, they declare, the demaund for additignal material will caual 25 per cent of present mill pro- uct ch 3 (Special). manufacturers of this 5 advocates of ts are length- on, Cott MANCHESTER, ness in cotion goods ave not been ve s prices obtained are not remun- erutive. Fruit. TTLE, March 3 (Special). —There is keen comp.tition to handle the 19; terop of Washington and Oregon com- mercial apples. The Northwestern Fruit 15.000 Exchange ars of apples las the newly which _handled the eping be YORIK, March 3 (Spe ifornia citrus fruits n market are becomir ore ave ¢ been pood and naval } this mar ! snipmenis oranges. KANSAS CITY, March Oil_production in the mi is being maintained at a higher rath than was the case at this time last year, but new development work is lagginz. Hoslery. PHILADELPHIA, March 3 (Special.) —Consumers scem to be well supplied with_hosiery, judging by the lull in de- mand, but the change of seasens with new style offerings is expected to bring DETROIT. rch 3 c — jPrice of milk Detroit has reduced to 12 cents a quart, brou; about by produce crecing to si part of the loxs meries the remaind been 13 cents. P Pints seil for Clothing. PITTSBURGH. March 3 1. Prices of clothing have made so attractive in the stores here in comparison with price levels of a year ago that many people are lay- ing in supplies for next winter. This buying for future use is becoming a definite factor in re‘ail trade here. Shrimp. NEW ORLEANS, March 3 (Spe- cial).—A considerable part of the shrimp stocks in the south have be. cleaned up. The market is firmer at gulf points. Tean YORK. M 3 (Special).— There is a fair demand in this mar- ket for Congou and Java teas Wholesale grocers have been work- ing on light stocks and now are bu ing Japanese te ¥ NEW Steel. CLEVELAND, March 3 (Special).— Prices for bars and plates have in- creased slightly thisx week. Steel men_ relterate that production costs | must be reduced if the business is ! to vield a profit. | CHICAGO, March 3 (Special).—The | Pressed Steel Cay Company has hom lawarded an order for 500 gondolas from the Great Northern railroad YOUNGSTOWN, Ohio, March (Special).—Open - hearth’ production ! has reached about two-thirds pacity, with the Carnexie Steel Com- pany operating fourteen of its fifteen furnaces. More bar and plate - N - Many 1 is| / are operating than heretofore. Heavy scrap steel Is quoted at $15.50 to $15.7, against $14.50 about a week ago. Noten. NEW ORLEANS, March 3 (Special). —The road work now planned in this state for the current year will result in construction and piecing together af trunk lines which will give the state 2,100 miles of first-class roads. PHILADELPHIA, March 3 (Special). —Neither manufacturers nor retall merchants here are worrying over the iability of the public to pay for goods irequired for fall, but the question of price is uppermost In their minds, es- peclally as quantities of foreign-made g00ds are coming into this market. DETROIT, March 3 (Special).— Building permits taken out in Detroit during the past week carried cost es- timates aggregating $968,142, com- pared with $367,415 for the previous week and $357,625 for the similar week of last year. Practically 85 per cent of the work is in residence con- struction. —_— Washington Stock Exchange SALES. , and Electrie , 25 & 25 at 36, glon Gas Light—25 at 49, com.— Lanston Monotype—20 ai 72%. AFTER CALL. Lanston Monotype—2 at 72%;. Mozey—Call loans, 586 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. costia and, Potomae Tefephon y Tel. 'of ¥ Capital Traction R. City and Suburban Gergetnwn Gas dat 1 Metropolitan R. R. 5s. Poton B c 1st 5e. Poton ric cous. 5. Pytomn deb. 6s. C. sud P Potomse ower g. 1 g m and Mt Ralts. mid_Au, b Washinzton Rwy. o, Wash. Kwy. und shington Macket M. Cold Stor Washington Gy and W Cowmerce. District . . Farmers ‘and’ Mechan Federal Liberty Lincoln TRUST COMPANY. ity and Trust Coutine Seyentl Union Savings U. 8. American Arlingion « g National Union Columbia Titie . Real Estate Title M Graphoy rayhiopl Columty Columbia Dutch Market com. Dutcin Muiket pfd. Mooty pe + DIVIDENDS. Stock of Record. Am. Steel Foundries q. Am. St. Found. pf, q, §I Arniour & Co. Df, a, S1. Hush Ter, Apr. Apr. Apr. 15 Apr. 1 Apr. 1§ Apr. 11 Apr. 1 Apr. 1 Apr. 1 Apr. 1 .7 Apr. 1 La Rose Mines, o Apr. 20 Mexicun Petroleum and port Co. pf, q. Apr. 1 Mexican Petroleum and Trans- port Co. q, §3. .Mar. Apr. 10 Natiol Brewerics, q, $1 Apr. 1 Nationai Brew. pf, q. $L.75. Apr. 1 Pan-American Petroleum and Trans. Co., q, $1.50. P Apr. 10 Pan-American Petrolenm and Trans. Co. B, q, $1. Apr. 10 8t. Juseph South Ben erm R. R. Co., = Mar. 15 en a, $2.50.Mar. 10 Mar. 15 Ltd. Mar. 81 Mar. 31 Apr. 1 Apr. 1 Mar. 3 LEAF TOBACCO MARKET. BALTIMORE, ' March 3.—New re- ceipts were 109 hogsheads and rein- epections 15 hogsheads, against sales of 137 hogsheads during the past week. There is a good demand for cigarette types, but very few offer- ings, ard unsold stock is all low grades and mostly inferior quality. Prices per 100 pounds—Inferior and frosted, 3.00a5.00; sound common, 6.00210.00; good common, 11.00a17.0 medium, 18.00230.00; good to fine red, 31.00245.00; fancy, 48.00a50.01 onds, common to_ medium, 5.00a; seconds, good to fine, 18.00a30.0! tobacco, fire-cured, 15.00a55.00; upper country, air-cured, nominal; ground leaves, new, 2.00a23.00. Stock in _warehouses—Maryland, 15,586; Ohio, 3,897. Total, 19,503. Ground leaves to date, 636 hogs- heads. FEDERATION FOR WHEAT. DENVER, March 8.—A national federation of wheat-marketing asso- clations operating on the 100 per cent Dool basis is forecast in a decision here by a conference of state associa- tions covering practically the entire wheat-producing _ territory of _the United States. The conference unan- imously appointed a committee in- structed to make preliminary arrange- ments for the national organization which is to be put in effect as soon as the state societies of the middle west have actively entered the field of co- operative marketing. ‘WOOL UNDERTONE STRONG. BOSTON, March 3.—The Commercial Bulletin will say tomorrow: The final wool auction held by the gov- ernment here Thursday was the focus of all attention. The eastern mar- kets otherwise have been dull and rather on ¢he easy side if anything. The wool auction, with prices par to 5 per cent up, as compared with the February sale, showed, however, that there is underlying strength in the wool situation still. The goods mar- ket and the clothing market are, still in sharp contrast with the strength in the raw material. In the west buying continues to drag, growers being very strong inftheir ideas of value, while the dealers are less eager to pay the-high prices to which the market has risen so suddenly. —_— The discount raté of the Swiss Na- tional Bank will be reduced from 4 per cent to 3% per cent and the in- terest rate from § per cent to 4% per cent effective from 5 It was announced \ . THE EVENING STAR, WASHINGTON, D. C. FRIDAY, MARCH 3, 102 SATISFIED BUSINESS UPTURN FINANCIAL. FEDERAL INCOME AND - EXCESS PROFITS TAXES Condueted by DR. JOSEPH J. KLEIN, C. P. A. (Copyright, 1922, by Joseph J. Klein. Al rights reserved.) (Tax questions should be addressed to Dr. Klein, in care of The Star. To receive attention, all communicatious must be signed. Dr. Klein's answers will not reveal the ident inquirers.) Article XXXVIII. Section 202, one of the most tm- portant as well as one of the most complicated sections of the revenue act of 1921 was analyzed In the pre- ceding six or seven articles. It w: seen that ordinarily, when property is 3014 for cash or its equlvalent, in order to determine loss or gain it is necessary to ascertain the cost of the property disposed. If the prop- erty in question was acquired prior to March 1, 1913, its value as of that date must also be taken into con- sideratfon. The speclal provision with respect to gifts, made after December 31, 1920, was specifically discussed in article XXVIIL The basis for de- termining gain or loss, resulting from the sale or other disposal of property acquired prior to March 1, 1919, was_ discussed in_article XXX. Articles XXXI and XXXII concerned themselves with the situations creaf- ed as a result of exchanging prop- erty for similar property. The sub- jects of reorzanization, of transfers to a successor corporation, and of the involuntary conversion of prop- erty were discussed in articles XXXIIT and XXXIV. Subdivision (e) of section 202 deals with the situations which arise as a result of receiving, in an ex- change for property disposed of, cash or property having a “readily realizable market value” and other property which has ‘“no readily realizable market value.” Ordinarily. the extent to which the money (or property having a “readily realiza- ble market value) is in ‘excess of the cost base represents the taxable incom The other property is not taken into consideration until it has been converted into cash or its quivalent. So far as concerns the items discussed in subdivision (e} (1), (2) and (3) of = . any money or its equivs connection with the exchange re- basis referrcd to in such dpces th, ok Subdivision (f) is the final subdi- vision of section 202. It deals with installment sales and specifically provides that the profits carned mas be taxable during the vear in which an installment payment, “represent- ing gain or loss," is received. QUESTIONS AND ANSWERS. Q. (130)—Some twelve weeks ago 1 opened a small jewelry and repair and sales counter in another man's place of business and I want to know if any allowance, is made for cases and safe other than the ex pense place. Also fire insurance, adverti; ing and postage, depreciation tools. A. All necessary business expenses deductible. (121) —1 would greatiy the benefit of your advice are Q. ciate appre- in the foliowing cre ty criminal or ont in- 10 do be any for me to fill ends w Would th vil liabi event they at figures, . 1In information. knowing! me false URGES STATE INSURANCE. Carl Hookstadt, compensation ex- pert of the United States bureau of labor statistics, asserts in the Amer- tcan Labor Legsislation Review that insured employers of the Un ed States could save $30,000,000 a year if a1l were insured in ftate funds ex- clusively for workmen's accident in- surance. 1~ also emphasizes the periority of state fund and security after inv in twent cne states and two Can: gian provinees. The expense ratio, which means the proportion of earned premiums to adminisgrative wexpenses, determines the cost of com pensation insurans employer: Mr. Hockstadt points He show that under an exclusiye state fund the cose to employers is 30 per cent less than under stock insurance and 1212 per cent less than under mutual insurance. MIDDLE STATES OIL DROP. NEW _ YORK., March 3.—Middle States Oil for 1921 shows a surplus of $6,133,891 after charges and fed- eral tax on §$10 par value capital stock. This compares with $7.663,730 earned the prece rorry , $160,000 was set aside and $3,983, was distrib- uted in_dividends, including $20. dividends paid to the minority inter- est in Dominion Oil Company, Texas Chief Oil Company and Ranger Texas 0il Company. < _——— FOR CO-OPERATIVE PLAN. TOLEDO, Ohio, March 3.—Repre- sentatives of the National Live Stock Producers’ Assoclation at a meeting in Toledo discussed plans for the forma- tion of a co-operative commission company to be established at the Union stock vards at Buffalo, N. Y. A similar company is reported being formed to handle the business of the association at the Chicago stock yards. PARIS BOURSE IRREGULAR. PARIS, March 3.—Prices moved irreg- ularly on the bourse today. Three per cent rentes, 57 francs 30 centimes; ex- change on London, 48 francs 3§ cen- times; 5 per cent’ loan, 78 francs 95 centimes. The dollar was quoted at 10 francs 921 centimes. NEW YORK RESERVE BANK. NEW YORK, March 3.—The state- ment of condition of the Federal Re- serve Bank of New York at the close of business March 1 Total gold reserves. $1.087,313,188; total re- serves, §1,122,444,003; bills discounted secured by government war obliga- tions, for members, $61.530,345; all others, for members, $28,793.41: bills bought in open market, $32,034,366: total bills on hand. $122.358,123; total earnings assets, $284.543.373; uncol- lected items, $102,606.160; due to mem- bers, reserve account, $674.042,820; to- tal deposits. $707,946,828; federal re- serve notes in actual circulation, $626,673.146. Ratlo of total reserves to deposit and federal reserve note liabilities combined, 84.1 per cent. CAPITAL STOCK INCREASED. DOVER, Del, March 3.—A certifi- cate was filed with the secretary of state today increasing the capital poration, of Flint, Mich.,, from $5, stock of the Michigan Finance Cor- 100,000 to $64,500,000. — NO SLOSS STEEL DIVIDEND. NEW YORK, March 3.—Sloss-Shef- field Steel and Iron has passed its quar- terly dividend of 1% per cent on prefer- red stock. Directors said it was deemed advisable to conserve its cash resources in view of existing conditions in the pig iron markét: —_— CHICAGO LIVE STOCK MARKET. CHICAGO, March 3 (United States bureau of markets).—Cattle receipts, 4500 head; veal calves steady to weak; other classes generally stead. top beet steers, 8.90; bulk beef stee 7.4027.65; bulk fat cows and heifers, 4756.25; bologna bulls largely, 4.15a 4 s Recelpts, 23,000 head: fairly active, mostly 10al5c higher than day’s average: 1’;31!;?;; {mck: top, 11.35; bulk, 11.00a 11.25; pigs slow, 15 to 25 lower; bulk desirable, 100 to 120 pounders, around 10.00. Receipts, 6,000 Fead; open- lnsgh:f:;v- fat lambs about 15c higher; top _early, Montana _clippers, 13.25; fail shorn Texas yearlings and twos, 13.00; not enough matured sheep hers to make a market. of transporting and putting in | on, or $1.15 a share earned | { it to local merchan i reputation for y of otherwise, could I be held responsi- | ble In any way, even though I have no knowladge whatever of the wrong- doing? T do this for said friends s a matter of accommodation, receiv- ing only a very nominal fee for my time. I find that many people hesi- tato going to internal revenue of- fices, and & small business man can- not afford to engage a competent “C. P, A" A Your consclence seems to trou- ble you. Don't prepare returns un- less ‘you are reasonably certain that the data submitted to you is correct. Never fail to attach tq the return a full disclosure of all relevant facts if you are mot positive that the in- formation given in the return is based upon reliable record. The rev- enue department is entitled to the Cco-operation of every good citizen. There 1s no reason for hesitating to call upon revenue officials for aid In & long experience with them I have always found them courteous and anxious to-assist taxpayers. Q. (132)—Are the following seccurl- ties subject to the federal income tax: {2) Stock of local fire Insurance companies, national banks, trust companies: Atlantic Refining pre- ferred, also. 1 | (b) 'Notary fees. A. (a) Dividends on stock are not subject to normal tax, bul they are subject to surtax. (b) N Q. (133)—(a) Kindly !nform me through your valuable paper wheth- one er a young man under twenty years of age is legally compelled to | pay federzl and state income taxes, if his income is more than ¥1,000 per whether luxury tax. cted from tax to be pai Also. (L) Yes. ) Li Q. (134)—Ma returns patient who was (And what is { in case such | A Had ¥ the hospital (unless it were one) atribution would Gedu Charitable and sin donations are deductible up to 15 cent of the taxpayer's net income ‘fore reducing such net income b amount of donations. Q. (135)—Kindly advise if I ma ¥ guct hospital, doctor, and dex from my income de a donution to a priv A. No. Q. (136)—Kindly favor me by swering the following question reference to state and federal in Two partners fn ousiness draw Salary of $100. At the end how a profit of § lury ha a led as an expense to the | answer this yuestion and inform r 2% to the proper way of filing a re turn AA par the firm’s profit (utable to showi return. No tax must be paid. must file an i uual returs 2 ng hi lary, his share of profits. etc.- FINANCE AND TRADE NOTES. The state bank of Stratford Ok! | has closed its doors, according to in- jformation received by Roy Walcott, state bank commi es in the Osaze Sale of 216 oil le ! ction Indian reservation, offered at : a, Okla.. under suj rought § ‘obacco has declared 1% per cent per cent o cash April 1 14 R. I R quarter jon preferred stock and common stock, payabic Tuscarora Rubber, with a capital .000. has been piaced in rece 5 v Judee W. A. Whi Adams and Henry Krantz we to care for the iuter stockholders. largely West. Virginia. amed of the 1.600 in Ohio and A contract for building 500 automo- bile cars has been awarded the Puil- man Company by the Burlington road. ippi Barge Line in 1921 car- Miss ried 443.267 tons of freight and earned $1.779.036, according to official report. In 160.702 tons were carried and s $695,138. the revenue W Belding Bros.. who recently author- ized increa 1 capital stock from | £2.000,600 to $16.000.060, has voted to distribute the new issue in the form of a stock dividend. Declaring German competition fs wrecking American toymaking, Bobby Toy Shops. a Rockford, lil, corpora- tion. has filed a voluntar: bankruptey. GOLD MADE OF LEAD. German Chemist’s Recent Claim ‘Was Reality Back in 1883. IOWA CITY, Iowa,*March 1.—The recent claim attributed to a German chemist that he had perfected a proc- ess for making gold from other metals has_brought forth a state- ment from Dr. Charles R. Keyes, D Moines geologist, that Dr. avus Hinrichs of the faculty of the Uni- versity of lowa demonstrated in 1 that lead could be changed into gold by removing two atoms of the lead molecule. 2 Dr. Keyes states that the prob was worked out mathematically by Dr. Hinrichs and that at a later time the success of the project was actuai- 1y demonstrated. It was found, hov ever, Dr. Keyes states, that the proc- ess was so costly that tne artifiiial gold was much more expensive than natural gold. JAIL FOR BUTTER THEFTS. ‘Waynesboro Man Developed Trade in Stolen Creamery Product. Special Dispateli to The Star. STAUNTON, Va, March 3—Albert Bush of Waynesboro was found guilty of theft in circuit court and sentenced to spend sixty days in jail and pay a fine of $300. Bush, according to the opinion of the jury which heard his case, was guilty of having stolen 100 or more pounds of butter from the Waynes- boro Co-Operative Creamery. Evidence tended to show that he would remove the wrappers and cartons from this butter, bring It to Staunton, and sell devéloping a handling unusually high-grade “country” buiter. Bush was arrested, with Philip Mor- ris, in December. Morris at the time was an employe of the creamery. At the magistrate's trial Morris assumed all blame in connection with the but- ter robbery, and admiited his guilt of having actually broken taken the goods. He is now serving sentence, but was a star witness in Bush's trial. BUYERS’ STRIKE ACTIVE. NEW YORK, March 3.—The manu- facture of better products to restore public confidence was advocated as cure for present national ills by Secretary of Labor James J. Davis in an address to_advertising men. ‘The buyers’ strike is still in existence, |Mr. Davis said, adding that its dissip: | tion would point the way to normal con- ditions and_prosperity. | “The most important thing you can big packers do is to break this buyers strike said. islone against high prices, but agains he “This buyers’ strike has not been poor quality. We've got to get the workman aroused to putting out his best work, and the manufacturer de- termined to put out the best product in his power. Honest wares, at fair prices, will restore confidence, and people will buy again. The restoration of confi- Each partner | petition in | in and | EAPECTNEWU.S - FIVANCIG SooN Bankers Forecast Issue of Short-Time Certificates by the Treasury. " The United States government will do further short-time fin g In the v according to the expectation of bankers, who are con- fident that soon announcement to this eflect will be made by Sccretary Mel- lon. t is quite likely that the govern- ment will offer a large block of new certificatcs of indebtedness bearing 4% per cent. There will mature on March 15 gov- ernment Treasury bills anounting to over half a b Three issues mature that date as fol- low o Total .. The . .. $320.964,000 government will probably is- Suc new certificates o take care of the above Marc| the initial | ]cuunl of 132 deral Reserve Board's March zeneral business says that month improvement conditions in several basic indus- | tries has furnished a more hopeful | prospect for the trade of the coming months, The board points out that the textlla indu. b ffered somewhat as a result of labor troubler and the fluc- ions in the price of raw materials. 1 ons are reported - ndustry. althou largely confined to in the value of agri- has tended to cre- erially facilitating idation of loans at banks vement of prod riicis” says the board nnaylvania System. vania system for Jan- nings of §is.- £10,542,614, and t ‘deductions, 1 in 1421, or am net op- Statement. the Fidel- f Mary- written ty and Depoxit 1 nt ¢ any miu A reports were re than past year, nei- : S8,000,800, which than $2.000.006. ials of the company state 1lie MOSt Prosperous year of the concern and $600.000 was added to surplus 21, after all claims had been 1 l BELL NET. $67,424,683. i okl i American Telephone and Tele- graph’s Total for 1921 $54,002,703 N YORK. March 3—Tn Telephone Telegraph after or about cd on the cap: t the end of the receding vear. vhole had net 21,683, compared W 785,065 thee year before. AL the end of the year the company had not on 365 cash on hand, but also $ of investments, ich, the re xplains, were tem- 3 stments of cash in United securities. Accounts receivable $5.158,052. The only current he balance ounts pay- a whole had net compared with previous r. Oper- s for the entire m and operating ex- idends of ng a sur- The Bell sys shows cash of States securi- 110. Receivables ag- 20,690 and stocks and 014. Bills pay- 369,665, and accounts 86, while the remain- sheet gregated $i4 bonds owned $1 able totaled §: $39,4 ystem’s liabilities consist- ed of accruals, capital liabilities and | funded debt. 'BREAK EXPORT RECORDS. {Richmond Tobacco Factories Ship | 175.732,000 Cigarettes Abroad. i RICHMOND, M 2.—Tobacco { fac hiond broke all rec- {ords in export shipments during the 1 tir two mon f the new year. ces compiled by the collector of revenue for January and Show that shipments ,of from Richmond to forelgn s far in e ss of that s months in 1921 nd probabl regest in history. ven facto of Richmond sent 080 cigarettes to foreign coun- during the period. in addition to 26 pounds of tobacco. t complete, due ritish-American whioh has a ch Bt ! ton { countries w iplant in th arge quantit { pert on Richmond has been the leading eity of the world in the manufacture of | cigarettes for many years. Although {the export business may seem huge, it is a comparatively smaill part of the actual manufacture of tobacco produets here when the consumption of cigarettes in the United States is taken into consideration. —_— SUE FOR RECEIVERSHIP. Ursus Motors Stockholders Allege Misuse of Fuads. CHICAGO, March 3.--Stockholders {of Ursus Motors, Incorporated at 1$1,000,000. filed a suit for a receiver in the circuit court here. The bill alleges that 4,000 stockholders have been fraudulently deprived of approx- imately a million dollars. According 1o the bill, the company was formed to manufacture tractors and farm implements, and the money received has not been used for manufacturing purposes. of cigarettes for ex- —_— CHINESE LOAN EXTENDED. NEW YORK. March 3.—At the re- quest of the Chinese government the {Pacific Development Corporation has Iexh-nrled until_June 1 next its loan of $5,500,000, which matured March 1. The terms of the extension provide for payment of $160.000 (nterest on the principal, to be made but of cur- rent revenues of the government's ! galt administration. i | TOKI0 EXCHANGES CLOSED. NEW YORK, March 3.—The Japanese stosk and rice exchanges at Tokio were closed on March 1, after the collapse of an attempted bull corner, according to private cable advices received here to- day by Mitsui & Co., importers. The dispatch added that both exchanges had resumed operations. . {