Evening Star Newspaper, March 26, 1922, Page 28

ki - p——— Y.W.C. A LEADERS 00T FOR $5.00 Mrs: Day, New President, An- nounces Big Drive to Be- gin on April 3. JIRS. HERBERT E. DAY. The annual budget campaign of the local Young Women's Christian As- sociation will begin April 3 and end April 8, according to announcement made by Mrs. Herbert E. Day, newly elected president of the associatlon. The estimated difference between in- come and outgo for the ensuing year, which the public of the District; ap- preciative of the constructive good done by the “Y. W. has always cared for and which, it is hoped, it will ‘again wipe out, is $45,000. Preliminary to the campaign there 18 soon to end a three-week educa- tional campaign in which the varied phases of the work have been brought to the attention of the National Capi- tal through speakers and other chan- nels. Whether this campaign was successful the week of April 3 willl demonstrate. Mrs. Harry E. Hull. a member of the board of directors, is chairman of the campaign executive committee, aided by Miss Margaret R. Fox, Mrs. John Denby Hird, Miss Elizabeth Eastman, Mrs. Chester D. Swope, Miss Mildred Bartholow, Dr. Ada Thomas and Mrs. Frank Casey. Will Open Drive With Dinner. Campaign plans are being formu- lated under direction of Miss Grace M. Axtell of the national board, Y. W. C. A.. New York. The drive will open with a dinner and meeting of all workers, Monday evening, April 8. in the parish hall of the Church of the Epiphany. Noonday luncheons will be held each day of the cam- paign at the same place to report progress in solicitation made. Workers will be divided into two general _sections—home women's teams and business and professional women’s teams. The home women’s division will be headed by Mrs. Swope, and will consist of twelve teams, each with a captain, lieuten- ant and ten members. Business and professional women’'s division working under the direction of Dr. Thomas and Miss Bartholow and will include six teams, having the same organization. Solicitation will begin on_Tuesday, April 4. Each department of the association will in some way co-operate with campaign work. The administration Aullding at 1337 F street, as well as the E street branch, the Elizabeth Somers residence and the Blue Tri- angle House 20th and B streets, will be centers of activity. Hundreds of girls and women of the District will give their time and services to se- curing the funds necessary to contin- ue the work of the association this year. Speakers Pushing Drive. Speakers who will continue the ed- ucational campaign through the com- ing week and_through the week of the drive are: Mrs. Harry E. Hull, at the Women's Federation of Clubs; the Grace-Dodge Hotel, tombrrow at 12 o'clock: Mrs. Frank Edgington, at the Mid-City Citizens' _Association, Thomson School, tomorrow evening at 8 o'clock: Mrs. W. W. Traiey, at the North Capitol and Eckington Citizens' Associations. at the Emery School, Tuesday evening at 8 o'clock; Miss Mignonette Buckingham. at the xteenth Street Highlands Citizens' sciatin, at the Sixth Presbyte- rian Church, April 3 at 8 o'clock. Miss Vera Adams, secretary of health educatfon department. will address the Stanton Park Citizens' Assocla- tion at the Peabody School, at 8 o'clock _the evening of April 3, and Miss Helen McQuillen, girls' work secretary, will address’ the Columbia Helghts Citizens’ Association, at St. Stephen's Parish Hall, the evening of April 4. BOYS’ CLUB SEES FILM. A film, “Little Red Riding Hood,” was presented at the New National Theater vesterday morning for the benefit of the Boys' Club, at 230 C street northwest. A large audience ‘was in attendance. Next Saturday “Cinderella of the Magic Slipper” will be presented at 11 o'clock at the Shubert-Belasco, the last of three fllms. Dr. Frank W. ‘Ballou. superintendent of schools, and others have indorsed the films. MUSIC WEEK CAMPAIGN. Central High _Community Center, Central High School, to- day at 4 o'clock. Doors open at 3:30. “America"—Salute to the Flag, Oath of Allegiance— Everybody. Cello solos: : (a) “Reve Angelique.” (Rubinstein) (b) “In the Boat”....(Grieg) George Lehman, cello_in- structor at_Washington Mis- sionary _ College. Everett Stone at the piano. Recreational singing— “Annie Laurie"— E “Vissi d’Arte,” from ‘‘Tosca.” . ll:\lcclnl) 11 Acqua) Mrs. Hazel Bachschmid, so- prano; George Wilson at. the piano. Recreational singing— “Believe Me, if All Those En- dearing Young Charms"— Everybody. Violin quartets: (a) “Evening Prayer. “Andante Religioso,” (Kohler) (b) “Nocturne”....(Slunicko) Mary Park Clements,” The- resa Pyle, Josef Kaspar, Vir- ginia Heffty. Annquucemants. Harp solos: “Chanson Provenc[l) from 'Fantasi”. (Loukine) - (Pinto) Viola Taubert Abrams, harpist of the Metropolitan Theater. iddie Khorus." Recreational singing— ~(a) “Gozd-bye, My Love (b) O 5od of Earth and Al- i (c) “Star Spangled Banner"— 3 Every8ody. H Recrestional singing directed +| by Robért La: assisted wrence, at the piano by Helen Burkart. Admission free. . § - s 4 ¥ " FINANCIALY ' 3, B irmin, Boston, bl Che; b is | ¥ WILL RAISE $1,500,000. ‘Williams College Men to Hold Na- tion-Wide Drive. Plans for a coming campaign to raise $1,500,000 for a Willlams Col- lege war memorial endowment fund, in which Willlams men all over the were dis- group of college Friday afternoon at the home of Col. and Mrs. Archibald Hopkins. Col. Hopkins has been an enthu- siastic supporter of Willlams since his graduation there in the class of 1862. The fund to be raised in the campaign will constitute a permanent basis for payment of professors’ sal- arles and for physical education pur- poses, including the building of a new gymnastum. THE WEATHER District of Columbla, Maryland and Virginia — Increasing cloudiness, _fol- lowed by showers late this after- noon or night: tomorrow, rain and colder; increasing ' southerly winds, shifting to northwest tomorrow. West Virginia—Increasing cloudiness, followed by showers this afternoon; to- morrow, rain and colder. Records for Twenty-Two Hours. . Temperature — Midnight, 55; 2 am., 51; 4 a 0; 6 am., 48; 8 am, 61; 10 'a.m 66; 2 pan. 70: 4 pm., 71:'6 pm. 68; 8 p.m., 64; 10 p.m., 60. Higaest, 71. 'Lowest, 46.9. Relative humidity—8 a.m., 60 per cent; 2 p.m., 33 per cent; 8 p.m., 48 per cent. Rainfall (8 a.m.’ to 8 p.m.)—None. Hours of sunshine—12.3. Per cent of possible sunshine—100. Temperature same_date last year — Highest, 79 ; lowest, 51. 2 Tide Tables. (Furnished by United States coast and geodetic survey.) Today—Low tide, 12:57 a.m. and 1:20 p.m.; high tide, 6:43 a.m. and 7:11 p.m. Tomorrow—Low tide, 1:39 am. and 2:03 p.m.; high tide, 7:38 a.m. and 7:52 pm. The Sun & Today—Sun rose 635 pm. morrow—sun rises §:02 am.; sota 626 pems = Moon rises 5:01 a.m.; sets, 4:54 p.m. Automobile lamps to be lighted one- half hour after sunset. Weather in Various Citles. Precip- Min, itation, uriby. miglt. g D ay. night. 8p, Asbury Park, b i "l ¢ Asheville, .68 40 60 Atlantic Cit 3o a4 timore, Md...... 88 50 Baltimore, Md. 80 50 Birmingham, Ala... 74 52 28 16 46 38 64 84 66 38 76 o4 yenne, W 42 k- Clevcland, 38 Davenport, 48 Denver, 28 Des Moines, 52 Detroit, Mdich. 8 Duluth, Minn.... 28 El Paso, Tex. 42 Galveston, Helena, Mont. Inclanspolis, EPER R I I R R EE R Marquette, Memphis, "Te Omsha, Neb... Philadelphia, Phoenix, Pittsburgh, nd, ' Ms PR ERSERRTPINNNABENI 252NN USRS RIARLERYES Miss.., WASH'GTON. D. n —_—. FIFTY GA3 LONS WHISKY TAKEN; TRIO ARRESTED Alleged Boofleggers Caught by Po- lice and Revenue Men After Chase. Three alleged bootleggers were ar- rested Friday night after a chase start- ing in an alley back of Plerce street rorthwest and ending in a garage at 8th street and Florida avenue. Lieut. Davis, Policeman Mansfleld and Revenue Agents Evans and Ruby woticed the men, it was declared, un- foading sacks from a machine into a shed in the rear of 52 Pierce street. ‘The lfents were observed and they hopped into the machine and tore off to the west. The police and revenue men fol- lowed and cornered the trio in the garage at Florida avenue and 8th street, where they were arrested. Those arrested gave their names as ‘W. F. Hamson. thirty, of 52 Pierce street: S. F. Marshall, twenty-nine. and I R. Marshall, twenty-nine, of 53 Pierce street. Fifty gallons of corn whisky. al- leged to have been in the sacks. were confiscated. Each was charged with fllegal transnortation of liquor and held under $500 bond. —— GRAIN AND PROVISIONS. CHICAGO, March 25.—A broad mar- ket. with wheat prices fluctuating ranidly and the close near the low point, marked the short Saturday session on the Chicago Board of Trade. Wheat closed with net losses of 13 to 2: corn was off 1 to 13: oats finished 1% to 1 lower: lard from 121; to 15 higher, and ribs 30 to_321% up. In the wheat pit eastern bears at- tacked the lay option at the start and were helped by some local trad- ers. There was sorge excellent sup- mort for July whén these tactics brought the later month to around 1.17 and the first and subsequent de- clines were checked. May received support at around 1.31. and the local shorts menerally scurried to cover when this developed. The source of the buying was obscure. but it evi- dently had its limits, for when local longs tried to unload toward . the close thev found no takers, and a decided slump marked the final thirty minutes. - Corn was weak from the start and the May went into new low eround for the present movement. Txpor:- ers bought corn at Omaha. but domes- tie industrial denland seemed shut off, and one bearish renort was that plants at several midwest points would be shut down because no feed was being sold and starch was pil- ing up. Oats merely fluttered up or down in_the wake of corn. Provisions were considerably higher early, but realizing sales checked the advance. Higher yards prices for live hogs and improved conditions in the Liverpool provision market were the chief news factors. NEW YORK. March 25.—Wheat. —Spot. easy; No. 2 red. 1.39%:: No. 2 hard. 1.46%: No. 1 Mrnitoba, No. 2 mixed duram, 1.243; i. 1. track N. Y. to arrive. Corn—Spot, easy; No. 2 yellow and No. 2 white. 7315 and No. 2 mixed 723 1. Y. all rail. Oats—Spot, barley, steady; 2 white. 46%. Lard—firm;: middl 11.25a- » L HALTS LIQUOR DUMPING. Prohibition Leader- Would Avoid ‘Regret and ‘Anger’ of Onlookers. CHICAGO, March 25.—Ten minutes before 350,000 gallons of beer, wine and whisky were to be dumped into the Chicago river today by federal prohibition agents, Federal Prohibition Commissioner Roy A. Haynes at ‘Washington ordered the wholesale unloading stopped en the grounds that it was needless and harmful publicity and that it “incites the cnlogker (o hoth regret and anger.” N THE SUNDAY STAR, WASHINGTON, YESTERDAY:S NEW YORK BOND MARKET [BETTER (Quotntions Furnished by Redmond & Co.) U. 8. LIBERTY BONDS. Low. Close. High. _Tow. Close, 2914 96 9178 9794 2 30 98:20 104% 24 9704 108% 9810 98.02 5 ) ‘9802 97.54 1 General Electric_6s 05 105 (9040 9040 2 Granby Mining 8s .. 9y 9 91 99.42 99042 34 Goodyear Tire & Rubber 85, 1031, . 915 99! 90! 40 98.32 9 Goodyear Tire & Rubber 1st 8a, ifdi 148 114 14 .30 22 Grand Trunk of Canada deb, 65 L102 1017 101 % .78 13 Grand Trunk of Canada deb. 7 oy Lok 104 X Northern 5%, 081, 95! 5 FOREIGN B0} at Northern Int 43 89 8 8 4 Argentine Government B3 83 82 83 28 Great Northern 7s 101 1071 107% 45 Argentine Government 78 100 995 | 24 Hud. & My 3 T8 8%, 103! 103% 103 38 Hud. & Ma 0’ 60 801, 001, 109 108 11 Tilinols Central % W 1081 1081, 1083 1 Nilinois Central bl ol » 10035 108 1003 | 15 Illinois Steel 5., 1040, uy 9 91 1167 118 115% | 60 Interboro-Metropolitan 4%s ¢ 12 1 1 861 881 86); | 188 Inter. Rapld Transit Ist ref. bs, 1 60y 50y b9 1057 1043 108 18 Inter. Rapid Transit 1st ref. 5u, ) 6’ e 9875 s 4 International Mercantile Marine 8. F. 6s.. 95 o5 100 1 1 International Paper Os, Beries B. D sy 887 i 1 lowa Central 29 BB By - i o B o . 1 Cheistiania, City of. 8 100% 1 08 1000 Copenhagen, City of, 5ijs o 9y, 99 001 ~15 Cuba, Republic ‘of, 414n ki oA 841, & Denmark, Kingdom of, s . 97% s, &4 sy 31 Denmark. Kingdom of, 8 . n2 T Tk T 10 Danish Mun. 8s, Rer. A 110% 1L 92 91 92 11088 Lehigh Val 041, 9el 9iL Foe] @ Leligh V. 0 semd 1030 043 1 Liggett & Myers nie o4t 14 103 % Lorrillara Co. 53 95 o 95 107 2 Loulsville & Nashville Iat ref. Gigs . 1028 10215 10215 94 C N. (N. Orleans & Nash. Div.) 1st 65 1088 1035 108% 747, (So. Ry. & Monon) 43 . 8y ey T8 iy 990. . & @ 89 883 881, 88 881, 5 25 5 of, sty 86 i 104 1081 104 Mexico, U. 8. of, "4 4715 48 2 Michigan Central D. 4s 90 90”90 16 Mexico, V. 8. of, bs . 5714 oA 67ip 3 Midvale Steel cvt, 53 so% 8a%, 8ok 21 Mexico, U. 8, of, 53 53 531, 8 Minneapolis & St. Louis Tat ref. 48 401 0% 0% 85 Netheriands 6a .. 94 94 {3 2 Minneapolis & St. Louis ref. ext. bs. 29" 39 14 Xorway. Kingdorm 5 Minn 8t. P, & 8, S5, Jat cons. 43. 8 15 Sso Paulo, State of, 88 11 8s0 Panlo, City of, Bs 61 Relne, Department of, Ta 100 Sweden. Kingdom of,’ 6s . 49 Switzerland, Government of, 8s 139 U. K. of Great Bnit. & Ireland of Great Brit. & Ireland 5 of Great Rrit. & Ireland 5 18 Uruguay, Republle of, 8s 12 Zurich, Oity of, 8s . .. OTHER BONDS. s, 1 Int 5. 45, 2000 . of S322ANBRABR2Z3R AERERRR FERRRR ooy . Adams Express 81 45 Aax Rubber 8 ..... o7 22 Amerlean Agricultural 44 19 American Smelting Bs . a8ty 63 American Rvgar Refining 5 58° 1 American Tel. & Tel. col. tr. 4%, 1930 5. Bs 8 5 American Tel. & Tel. col. tr. 5s . Tel. 1st & gen. 4%: o2 8 American Tel. & Tvi. 6n, 1025 . . Tel. ref. 6s, 1941 . 1027 1 American Writing Paper st Gs 10835 & Anaconda Copper 6a . 422 1 Ann Arhor 4s . 87 17 Armour & Co. 4 1073 22 ‘Atchiron, Topeka & a2 3 Atchison, Topeka & Santa Fe ad) 106, & Atlantic Coast Line col. 43 805 1 Atiantic Coast Line 414s 107 26 Atlantic Fruit evt, Ts 98 18 Atlantic Refining 6%s =% 2 Atlas Powder 7348 814 4 Paldwin Locomotive 2 8 Raitimore & Ohfo 3: 9 & Raltimore & Ohlo 1 97 20 Baltimore & Ohlo cvt. 414s 881, i A g & ::lck-rdnll;:‘tw Bs 1028, 'enna. . R. cons. 5. Ser. A, 1965. B8R X Raltimore & Ohlo (8, W. Dir.) 3 Penna. R. T, geh: 5%, Ser. B, 1063 S0 oas ® Baltimore & Ohlo (Tol. & Cinn. Penna. R. R. 6l3s, 19838 1081, 1061, 4 Rell Telephone of Pes 1 1930, 2 Rethlehem Steel P. 98 FeSauielsvas - B 7 8t L. & 8. F. My 4 9 Seaborrd Atr Line 7 Central of Georgla 6s 2 Seaboard Air Line Ry. ref. 2 Central Leather 58 12 Seaboard Air Line Ry. adj. 10 Seaboard A. T. R. e 99 Sinclair 0 z 12 Chesapeake & Ohio cvt. 5, 112 Sinclair Oil 17 Chicago & Alton 1st 8l3s 4 South. Bell Telepl 3 Chicago, Bur. & Quincy gen. 4s. 1938. 17 8. Porto Ric. 7s. 18 Chicago. Rurlington & Quiney 1at ref. Gt 21 Southera Pacific ref. 43 . 130, B, & Q. (¥, N.) foint 614s..... 1 4 Southern 80 Chi. & E. Nlinots it cons. gea. 5i 1 Southern » 6 Chicago Great Western 1st 4s 7 Chi., Mil. & Puget Sonnd 4s i1, & 8t. P: Routhern 26 Southern Railway 138 Southern Railway 2 Southern Rallway en. deb. 1 Steel & Tu ref. cvt. s, B. hir 087 2 3 2 Tidewater Oil & Pacific re Public Service Corp. Reading gen. 48 .. Republic Iron & Steel 5 Standard 0il of California be of America 3 Third Avenue ref. 4s 0 Ave, adj. 5 ) 2 Tobacco Producfs 8. inc., Ser. A. Ry. g. 43, 1950, at E. 45, 1959, s, 1949, 1st'& cons, 6s, 1943 con, 58 . gen. 6%: (Moblle & 3 Chica ation 4136 1 Toledo, St. 4 Cricagn ana Western Tndlan 3 Polon Bacifie Ta g 3 . Tnion Pacific 1at & ref. 3 h 6 C. 0. O. & 8t L.'ref & imp, 6s, A. 1929 . 8. Hoffman 58 . 1% 1% 1 Colorado & Midland 55 25 United States Realty & T. bs 0413 947 8 United States Rubber 1st & 87" 87 92 4 l:'n“’d States Rubber 7s 1011 101% n nfl?‘; IG\.;. e '4% X oL Zg "._\‘Illie.g States Rubber 7' 105Y, 105 18 Cuba Cane Sugar cve. deb. §6, ata. . & 10 Urah power & Ligne b ) 14 Cuba Railway lst Bv, 1852.. A01 4 Virginta-Carolina Chemical cv. oy oty 4 Cuba Ry. st llen & ref. 7%s, 103 1023, 22 Virginia-Carolina Chemical 738 - %% 98" 15 ,‘;:ll"‘; l‘ !Lo;:rlnfll T ::‘»6 l‘ :'P!terll ;ll‘lfic :‘? :?h s Moines 15 Vestern Pacific tem, 4 A n 2 nion Tel 2 Diamond Mateh deb. 73 1073 5 Westcrn Unlon 0146 v 100 101 44 Daluth Ioa = & 29 Westinghouse 7s 106% 108 . : 103% 108 102 3 Wickwire S. Steel 965, 065 o 18 Wilson & Co 1ot 6a.2 8 98 3 3 son ‘& Co. cv. 6 5 27 Efls 1st cons. gen. llen 4s. 1996 451, 17 Wilson & Co. m;'V 7 b :'?:,: COTTON MARKET SKIPS FROM BULLS TO BEARS NEW YORK, March 25.—A low ba- romoter, with rain over the southwest, furnished a bullish factor in the cot- ton market at the opening today, when prices were 2 to 4 points net higher, but before the day was out it had been turned into a earish item %nd in- duced selling, under which the market closed barely steady at a mnet decline of 4 to 7 points. Early support of the market was based on expectations that the rain area would extend over Sun- day into the astern belt, where it is not needed, and in_ fact would cause further delay to farm preparations. The subsequent change in sentiment was brought about by the arrival of numerous advices clalming that the rain in western Texas and Oklahoma had proved very beneficial and would improve the prospects for an early crop start. Outside of this influence the market was furnished with but very little news either way Trade was small and mostly local, the public interest being restricted by prospects for a_ big coal strike and a_further spread of the New FEngland textile strike. NEW ORLEANS, March 25— Slightly higher prices in the early trading in cotton today were due to the passage of the March position with- out any tenders of consequence. It was at first belleved that no March notices at all had been issued, but later it was discovered that notices for six hundred bales had gone out, but were not allowed to circulate. After advances of 2 to 5 points the market commenced to fall off under moderate selling. ‘Toward the end of the day prices were 7 to 8 ponits under the final quotations of yesterday. The close was 6 to 7 points net lower on the day, with May 16.45, CITY CLUB OUT FOR 150 " MEMBERS TO FILL ROLL Campaigners Plan to Bring in Each One New Applicant, Making Total 2,000. The one hundred and fifty members of the City Club who are conducting a membership campaign will start out this week, each one determined to bring in ome new member. It re- quires but one hundred and fifty new members to close the active rolls af the club, and Chairman Frank P. Wilcox, a2 meeting yesterday, 5000000 SHARES IN MARKET DEALS Price Changes Irregular, Week’s Business Being In- fluenced by Legislation. NEW YORK, March 25.—The recent extraordinary outburst of speculation in the stock market subsided visibly this week, although dealings again were broad and approximated the large total of 5,000,000 shares. On the surface, price changes among most leading issues were little more than irregular, but the undertone frequently suggested a greater divi- sion of sentiment between the oppos- ing trading elements. Higher money rates, presumably in anticipation of heavy April interest and dividend payments; bonus legis- lation in Washington, the prospective coal strike, and fresh economic un- settlement abroad were credited with serving to check the advance. Some Stocks Unusually Strong. l Some stocks in which the short in terest seemed especially extensive again were conspiciously strong. Some other ghares, particularly steels, motors and kindred issues, evidently owed their greater stability to signs of trade revival. Confirmation of these hopeful con- ditions was found in the further gen- eral advance of iron and steel prod- ucts, and in the authoritative state- ment that U. S. Steel subsidiaries had expanded their output to about 65 per cent of capacity. Interest in the railway group con- tinued to center around low-priced or junior shares. The investment division was hesitant at best and the cut. in the Northern Pacific dividend acted #s a deterrent to transcon- tinentals and grangers. Sugars, rubbers, tobaccos, textiles and related specialties reacted vari- bly to adverse developments in most of those commodities. Coppers were indifferently responsive to enlarged exports of the metal, and oils, especi- ally the foreign group, proved an un- certain factor. Bankers_reported the best invest- ment mafket in more than a year. This was borne out not only by the confidence with which new offerings were absorbed but by the keen de- mand for old-line or pre-war bonds. Foreign exchanges held well in the face of the demoralization shown by German remittances. Shrinkage of the mark almost to the vanishing point seemed to threaten greater complications in the whole question of German reparations. NO UNEMPLOYED VETMS[ 3 Special Dispatch to The Star. LYNCHBURG, Va., March 26.—With a view to ascertaining how many former service men needed work here, the Lynchburg post, American Legion, med a committee for & CAmMpAign to ist those who might need work. at pointed out that this could be accom- plished if each member would bring in just one new application. The board of governors recently au- thorized an increase of 500 in the club’s membership, brlnxh_lf the total enrollment up to 2,000. ‘hree hun- dred and fifty new members have been secured in the past two weeks, leaving but 150 more to be secured before the waiting list is put into ef- act. In order to_bring the campaign to 2 close this week, the board author- ized t! acceptance of part-payment applications, one-half upon filing ap- plication and the other half in sixty days. Former members may also b come active members upon payment of a reinstatement fee of $33. 'A‘heunrml!.".hrrdl is tgn i’:‘ n;:c lace Wi new members. to his gredlt; Charles F. Crane second with|The result was that the committee 41 new members; James R. Mayslwas discharged when it reported that third with 31 and C. R. Pardoe fourth it could find no unemployed vetzrans 29. of the world war. l COFFEE FUTURES QUIET, NARROW LIMIT TO PRICES NEW YORK, March 26.—The mar- kot for coffee futures was a quiet af- fair throughout the day, and prices kept within narrow limits. Easier official cables were offset by firmer special cables, and there was 2 little early trade buying while commission houses sold. At the opening the mar- ket was 3 points higher to 1 point lower, with May advancing to 9.42. There was a little selling pressure near the close, and final prices were 1 point net higher to 1 net lower. Sales were estimated at about 12,000 D'..V"C.; MCH 26, 1922—PART 1.° CONDITIONS ARE EVIDENCED IN BUSINESS ““ S —— 3%22 Plan to Beat the Hold-up Bandits—Me- Fadden‘s Amendment to Reserve BY L A. FLEMING. If we arc to believe the statements of President Harding, Secretary Mel- lon and Judge Gary; the reports of 933 { additional freight cars being used in service and larger daily clearings of the chief cities of the country, then business is getting better. These opinions are given with full knowledge of the threatened strike of an army of coal workers, which is probably looked upon more or less calmly, as the general sentiment of the public, which frequently wins strikes, is entirely opposed to_ them at this time, when recovery is Tairly initiated. The betterment has far to go and as vet is confined almost entirely to the United States and some of the smaller powers that played no part In the 8reat war. % The farmer, one of the greatést buyers and consumers of American manufacturers, is better off, made S0 by higher prices for his products, and is more encouraged to the general helping of the outlook. In the olden days the business in the steel and fron trade was accredit- ed with being the thermometer of actual conditions. If it is still in- fluential, Judge Gary's statement that the Steel Corporation was operating to 70 per cent furnishes much en- couragement. * Money is still in ample supply, with the reserve ratio of the federal re- serve system at the highest point since 1917, which means before the war as far as we are concerned. w Spend Money Here. Some efforts are being made to secure enactment of laws providing all money raised in the United States on foreign loans should be expended in the United States. The great loans to our allies in 1917-1918 were all expended in the United States and were largely re- sponsible for the great rush of in- dustrial activity soon after the decla- ration of war, until Armistice day, ac- celerated by our own heavy expendi- tures. Loans floated here for the rehablli- tating of devasted French cities could not very well be expended here. Otherwise, with the exception of re- funding loans, there might be 2 chance that such action would help business. Valuables Moved With Safety. Needs of the day will be produced. Bandits, hold-ups, all the various types of getting something for noth- ing, without even considering human life in the effort, have induced-the ‘Adams Express Company to install a new service to meet the requirements of the situation. ; The company is now installing a system of armed motor trucks for transportation of valuables under heavy guard which should practi- cally lessen, if not wholly eliminate, the possibility of loss. i Each truck will have a driver and five armed guards, the driver in a bullet-proof glass cab and the guards in a compartment lined, top, sides and Bottom, with armor plate that will withstand .45-caliber steel-nose bul- Jets, with the specially constructed safe anchored in the compartment. the combination known only to the men in the crew. the dial being re movable on the chief of the car leav- ing it % Portholes offer opportunity for jawed-off gun defense. 1t is possible for the guards to stop the car at pleasure. d f course, the car cannot withstand dynamite and heavy numerical ad- vantage with the bandits, but the latter must fight in the open. New York city will receive the first service and extension elsewhere is planned. Chicago needs a dozen of the machines and guards at once. Handling of pay rolls will be facili- tated, also the distribution of them. ‘Two one-ton speed Wagons are now in the service, which promises to revolutionize present methods of banking institutions and industrial concerns in moving money and se- curities. . Another service plans collection of deposits for banks. Loeal Investment«. Bargains. as to dividend returns on investments seem to 1= available in the local stock market. just as advantageous as any offe general market. Net reiul are greater than offered by some of the non-listed private companies. stocks of which are not listed on any ex- change. i Eugene E. Thompson. president of the Washington Stock Exchange. has prepared the following table show- ing date of maturity, price and yield on the most active group of bonds listed on the exchange, and also the return on a few stocks, dividend and price, with dates of maturity. In connection with some of the stocks, reference is made to tax ex- emption features. The lists follow: bags. May, 9.40: July, 9.35; Septem- | o %M 11 of ¥a. 5s.... TS HS0 ooy’ ber, 9.23; December, 9.23. Washington Gas 734 1926 10650 5.96 Spot coffee was quiet but firm at | Potomac Electric deb. €s. 1926 .00 6.30 9% to 10 for Rio 7s and 13% to 14 | Potomac Flectric T . 1941 10830 6.45 for Santos 4s. Cost and freight offers | City & Bub. Ry. Ist 5s... 1945 81.00 650 were unchanged to 25 points higher, | Wash. Ry & Hlec. 45...] 1931 60330 650 Bourbon 38 were quoted at 14, and | Capital Traction 1947 9550 520 part Bourbon 3s and 4s, 13.45 to 13.85, | , Stocks. R e el Rio 7s, 9.76 to 9.85, and Victoria 7s {4 000 600 and 8s, 9.45. e NEW YORK BANK STATEMENT. | “T5 our opinion, these issues are NEW YORK, March 25.—The actual condition of the clearing house banks and trust companies for the week shows that they hold $47,571,820 in excess of legal requirements. This is a decrease of $1,589,000 from 1last week. The statement follows: {otual condition: ans, discounts. eto,, $4,395,635,000; degrease, $10,078,000. Franeas a0 n own vaults, members Fed- eral Reserve Bank, $61,345,000; in- erease, $781,000. i ol serve in federal bank of member banks, §539,283,000; decrease, 312,565, Cash in own vaults, state banks and trust companies, $7,642,000; !1!6‘:,000. ¥ increase, serve in depositaries, state banks and trust companies, $8,888,000; de- crease, $542,000 ! 207 as et demand deposits, $3,831,466,000; decrease, 387,789,000, United States do. posits deducted, $72,227,000. Time deposits, $270,831,000; increase, $2,096,000. $33,768,000; decrease, Circulation, gig::nls reur’v‘e_’. 53555‘313.000. reserve, ,571,320; 3 $1,589,000. cRreas Summary of state Banks and trust companies in Greater New York, not included in clearing house statement: Loans, discounts, etc., $617,060,300; decrease, $4,386.800. : Gold, $5,717,600; decrease, $15,300. Currency and bank notes, $15,236,- 700; increase, $208,300. Deposits with Federal Reserve Bank of New York, $49,804,800; decre; $3,032,200. T Total _deposits, $639,494,400; de- crease, $11,915,800. Do., eliminating amounts due from reserve depositaries and other banks and trust companies in New York an 0 ates deposits, $598,118,- 300; decrease, 357200000 Brise companierCast i vani com| e $4,830.200, R COTTONSEED OIL FRM. NEW YORK, March 25.—Cotton- sced oll was quiet, but firm. owing to covering of rts on the strength yed in hog products. Closing bids were 7 to 13 Eolntl net higher. Sales, 3,000 Tenders, 100 barrels. Prime crude, 1,000 sales; prime summer yellow, spot. 11.65 May, 11 September, '80; July, 11.58; 1156, all hid. v free of District of Columbia personal tax. N.B—The quotations given are asking prices on which returns are Generally actual exchange prices give fractionally greater returns. Some Penglty! How Long? A Washington judge imposed a four- teen-year sentence against a woman for stealing a grafonola, a few days ago. True. the culprit was alleged to be possessed of a bad record, but the| theft in question was the case Om trial. Some shareholders in the corporas tion manufacturing the ‘onola_ have expressed curiosity as to the tength of the sentence the same: jurist would have given the directors thercof for their miserable records in 1920-21. The official sheet of the Washington Stock Exchange still carries on its facq 7 per cent, as the amount of dividend paid by the Columbia Graph- ophone Companv on its preferred stock. Perhaps as a cumuiative and continuing charge against the com- pany, the record may be right. but it will be somewhere in the dim and distant future before the owners of “preferred as to_dividends and as to assets” will be called upon to make deposit of dividend checks from this source. In the meantime the records show that the shareholders gave approval to “all acts of the said directors in 1920-21." A Fortunately the local director, E. E. Thompson, took no part in delibera- tions that resulted unfavorably. Federal Reserve Amendments. There are a score and more of pro- posed amendments to the federal re- serve act, shelved for the present, but liable to be brought up before the passing of this Congress shall doom them to the discard. They are so numerous that publica- tion is not permissible at this time. Probably H. R. 4806, Introduc by Reppesentative McFadden, is the most im; of the many, proposing to abolish the bureau of the controller of the_currency the office at one and the same time, and also suggests an additional member of the board. ‘Branches for National Banks. Senate bill 1835—Amend as follows: “Any national bank association may, with the approval of the Federal Re- serve Board and under such rules and regulations as it may prescribe, €s- tablish branches within the corporate limits of a city, if the capital of the parent bank is at least equal to the i Act—Notes. : amounts which would be required un- der the provisions of section 5138 the Revised Statutes, if each were ol ganized as an independent organiza- tion; plus the amount of capital of the parent bank. No such branch shall be established in any city, town or village in which neither state banks nor trust companies may law- fully establish branches.” The McFadden Measure. House bill 4906, to amend section 10 of the federal reservs act, to read as follows: “Section 10—That the Federal Re- serve Board shall coprist of seven menbers, including 1bs undersecre- tary of the Treasury. wha shall be a member ex officio, and £1x members appointed by the President by and with the advice and consent of the Senate. Each member appointed by the President shall serve twelve years, unless sooner removed by the President for cause; Provided, how- ever, that the term of the present members of the board and any suc- cegsor appointed to fill any vacancy in an office created under the terms of this section as’ jt was originally enacted, shall expire as heretofore enacted by law: and prqyided further, that the additional appoftive member provided for in this section shall be appointed to serve until August 10, 1932, and thereafter his successor shall be appointed for a term of twelve years. In selecting the ap- pointive members of the Federal Re- serve Board not more than one shall be selected from any federal reserve district, and at least three of whom shall be persons experienced in bank- ing or finance; the President shall have due regard to a fair representa- tion of the different commercial, in- dustrial and geographical divisions. The six members appointed by the President shall receive a salary an- nually of $12,000, plus traveling ex- penses. The undersecretary of tte Treas- ury, as ex officio member of the Fed- eral Reserve Board, shall, in addition to his salary as undersecretary, re- ceive for his services as a member of said board an additional salary at a rate per annum such that the aggre- gate salaries paid him shall equal but not exceed $12.000 per annum.” Provision is then made for the elec- tion of officers, housing of the board and assessment for expenses on fed- eral reserve banks, but limits the amount that may be used “for the purchase of a site or tte erection of a building or vaults to $3,000,000. Title 1o property to rest in the United States, but there shall be no ap- propriations in the appropriations of Congress for =uch jfoperty.” An audit of salaries and expenses of the system by a certified accountant and submission of them by the reserve boeard to the Speaker of the House is provided for. “Section 324 of the revised statutes of the United States, creating a bu- reau of the Department of the Treas- ury, and sections 325-326, relating to the appointment of a controller of the currency to act as ckief of the bureau, are hereby repealed, and all powers and duties heretofore imposed on the controller of the currency or the bureau of which he is designated as chief officer, in respect to federal reserve notes, circulating notes of national banks and federal reserve banks are hereby transferred to the Federal Reserve Board, except that the power and duties heretofore con- ferred or imposed on the controller of the currency, or tre bureau of which he is designated chief officer. in respect to federal reserve notes and circulating notes of national banks and tederal reserve notes are transferred 10 the Secretary of the Treasury. “Federal reserve notes shall be held ubject to the order of the Federal Reserve Board for delivery. Federal Reserve Board may exercise the powers and duties hereby trans- ferred to it under such rules and regulations as it may prescribe through its executive officer, the gov- ernor, the several federal reserve agents or through such other offi- cers or employes as it may appoint and designate for the purpose. The Secretary of the Treasury shall pre- pare notes suitable for circulation as national bank notes and federal re- serve notes form or forms as he may determine, and shall provide for the issue and redemption of such circu- lating notes, and under such rules and regulations as he may prescribe. “All acts of the Federal Reserve Board in the performance of the powers or duties transferred to it under the terms of this act shall FINANCIAL." STEADY INCREASE IN'STEEL QUTPUT Demand, However, Continues in Uncertain State—Copper Market Less Active. NEW YORK, March 25.—Production of steel is steadily increasing, and the percentages of operations com- pared with capacity are being raised in practically all directions. In con- sequence of the better demand prices are hardening, with numerous an- nouncements of present and prospec- tive advances. The demand, however, is still limited largely to orders for prompt shipment, and sorme of the buying has undeniably been inspired by the prospects of a local strike, but there are unmistakame evidences of a more confident feeling relative to the future. The market for pig iron is firmer, with some improvement in the vol- ume of buying. The prospects of an advance in cokeé in the event of a coal strike is a disturbing feature which is having an influence on values. Copper Gemerally Steady. _ Copper was generally steady dur- ing the week, with most producers selling electrolytic at 13 cents deliv- ered nearby and 13% for later ship- ment. Demand was much less active than it has been, and late in the week it was possible to get electro- Iytic at 12% up to May delivery, though it was feit that any material increase in demand at that figure would cause a tightening back to the 13-cent level. Export demand has likewise been smaller. Production is running light, while purchases for wire purposes have been encouraged. Boost for Tin Noted. Tin moved up about % cent during the week on good buying on the part of dealers and consumers and & bet- ter tone at London and in sterling exchange. Statistics, however, make rather a bearish showing. . Lead continues in good demand. The tone of the market is firm, and ore prices have been advanced. Zinc has been a little easier, and in _an effort to move supplies some holders have shaded _quotations. Business, however, is still limited. Antimony is somewhat firmer, with a better inquiry reported. BALTIMORE PRODUCE.” BALTIMORE, Md., March 25 (Spe- cial).—The egg market, under con- tinued liberal receipts, ruled easier at the close, with 23 cents a dozen the prevailing quotation for strictly fresh nearby stock. although some houses showed a willingness to make concessions and Quoted 2215 cents. The lower quotation, however. seems somewhat lower than the situation Jjustifies, as demand is good for both consumption and cold storage pur- poses. Prompt shipments are neces- sary to command top prices, as bu ers demand quality, and held stock is slow to find favor. The general demand for live poultry 1s fair, with receiptslight and demand best for young chickens, especially young winters, two and a half pounds and under, which are quoted at 38 to 42 a pound; large, €mooth young chickens will bring 34 and 35, but rough, staggy and thin are slow sale at 34 and 25. Demand steady for large, fat old hens at 26 and 27, but small and white Leghorns have to be sold at a discount. Season for tyr- keys practically over, but few late arrivals continue to find sale when of small to medium size at 43 to 45 for choice hens, 35 to 38 for young gob- blers; old toms and poor and crooked breasts neglected at 25 to 35. Ducks are being held back for their eggs. hence receipts light and demand good at 36 for Pekins, 35 for puddle. 32 for Muscovy and 28 for small and poor. Pigeons also in light receipt and under a good demand the market is firm and higher at 45 to 50 a pair. The season for dressed ultry is pretty well over, although for fancy. large capons there is ready sale 43 to 45, and 38 to 40 for medium, five to six pounds; small slips not eo active at 32 and 33. Other lines of poultry will not bring any more than live quotations. With the arrival of new stock the market for white potatoes rules easier and a shade lower, with re- ceipts running ample. Demand only fair for choice, No. 1 stock, at 1 to 2.00 per 100 pounds: 1.50 to 1. for Maryland and Virginia McCo: micks, and 75 to 1.00 for No. 2s. New ! Florida potatoes are quoted at 8.00 to 10.00 a barrel. Receipts of sweets and yams are running ample and have the same force and effect asimarket rules easy with the supply acts heretofore performed by controller of the currency or the bu- reau of which he is designated chief officer.” . Increase Capital Stock. The International Exchange Bank has increased its authorized capital stock from $100,000 to $150,000 and will sell the new stock up to April 15 at $12 a share, $2 a share going to surplus. After April 15 the officials propose to ask $15 a share. Local Issues Firm. The features of the week on the local Stock Exchange have been the strength in Potomac Electric general 6s and Washington Gas, with ad- vances to 88% for the former and 53 for the latter. Other securities were steady and without much change one way or the other. Stock Exchange Dinmer. Next Saturday evening the Wash- ington Stock Exchange will give its annual dinner at the New Willard. Al previous efforts of the ex- change at entertaining will be out- classed and novelties are to be ex- pected. -~ Weekly Debits. The Federal Reserve Board reports the volume of business for tte week ending March 15 by total debits to individual accounts reported for their|g leading _clearing | 3 members by 166 houses. as $8,705,000,000. compared with $8.301.000,000 for the previous week, and $7,676,659,000 for the week of March 23, 1921 7 ‘Washington, D. C.. debits were $44.- $10,000, a5 compared with $41,857,000 for the previous week. and $35.040.000 for week ended December 23, 192 Potomae Electric Power Company. The permanent bonds of the Poto- mac Electric are now ready for de- livery in New York City. Temporary certificates should be forwarded for exchange. —_— EASTER LILIES PLENTIFUL. NEW YORK, March 25.—Easter tilies and other flowers of the season will be unusually plentiful for the festival this year, some florists re- port. Prices will be no higher than last vear. and there is a strong like- lihood of a general reduction, they say. The abundance is ascribed to the late date of Easter Sunday, and to the fact that florists have grown & larger supply. > —_——— GENERAL TIRE SALES JUMP. NEW YORK, March 25.—Sales of General Tire and Rubber in units in- creased 100 per cent in the first quar- ter of 1922, compared with those of the corresponding period of 1921, which in dollars and cents is a gain of 65 per cent. Since the beginning of is present fiscal year the company has paid two dividends of 2 per cent each on its common stock and a divi- dend of 1% per cent on ita preferred stock. —_— AMPLE FUEL NORTEWEST. ST. PAUL, March 25.—The north- west Is in no jmmediate danger of a fuel famine. Reports from the head of the lakes are that there are ap- proximately 4,000,000 3ons of coal on hand: This is_a record supply for this season and ample to carry the large consumers and small buyers|weights. 11.25: heavy wei well into . of choice stock equal to the demand at 3.50 to 4.50 a barrel for the former and 3.50 to 4,00 for the latter. No. 2 stock on both is slow sale at 1.75 to 2.00; bushel hampers in better de- mand at 1.25 to 175, and 50 to 75 for No. 2 With the advent of warmer weath- er and increased supplies of early spring vegetables from the south, the market for native and nearby garden truck rules easly under only a fair demand, and prices in buyers' favor at the following quotations: Norfolk kale, 1.00 to 1.25 a barrel; parsnips. 50 and 60 bushel: spinach, 1.00 and 1.25 bushel, and turnips. 35 to 40 pér 4-8 basket. Spring_onions in demand at 1.65 to 1.75 per 100 bunches and market firm for yvellow omions at 8.00 to 9.50 per 100 pounds; red. 6.00 to 7.00, and 3.00 to 4.00 for all varieties No. 2 stock. LIVE STOCK MARKETS. BALTIMORE, March 25 (Special) The usual Lenten season quiet pre- vails in the live cattle market, hence receipts, which are fair, are ample for trade wants. Inquiry for spring lambs noted, but shipment of lambs under thirty-five pounds not ad- visable. Quotations today at Light street wharf: Beef cattle—First quality, pound. 7a : medium, 5%2a6%:: bulls, as to qual- 4a514; cows, choice to fancy qual- ity, 3a43i; milch cows, choice to fancy, per head. 50.00a75.00; common to fair, per head, 30.00240.00. Calves—Choice, handy-weight veais, pound, 912a10; choice fat heavy veals. 812a9; fair to good, 8a8l:: heavy smooth, fat veals, 7a8; heavy, rougi calves. 5a6. Lambs and sheep—Choice fat sheen. steady: No. 1 sheep, pound, 6; fair 1 good, 31adl;: common, 2i4a315; old bucks, 4a5; fall lambs, choice. per pound, 13al4; fair to good, 10al2; common, thin, 8a9. Hogs—Straight, 10a1l: sows, as to quality, 7a8; stags and boars, bu live pigs, as to size and quality, 1. il shoats, as to size and quality, 10 all. CHICAGO, March 25 (United States bureau markets).—Cattle—Receipts, 1,000 head; compared with a week ago, beef steers practically steady: spots a shade lower; she stock and bulls, 15 to 25 higher; veal calves, strong; stockers and feeders, dull and mostly 25 lower: spots, off more. Hogs—Receipts, 4,000 head: active, 10 to 20 higher than Friday’'s aver- age; lights up most; shippers bought about 1,000; good clearance; 10.60 paid for 34 hogs; practical top, 10.55: bulk, 9.90a11.50; pigs, strong to 15 higher; bulk desirable, 100 to 120 pounders, around 9.50; some stronger weights up to 10.0 Sheep—Recelpt: 000 head; today's receipts practically all packers direct compared with a week ago. killing classes mostly steady, heavy sheep and best grade shorn lambs showing slight gains; shearing lambs nom- inally steady. NEW YORK, Receipts, 640 Liead; steady; no trad- ng. Calves—Receipts, 490 head: steady: veals. 8.00a13.00; culls, 6.00a7.00; lit- tle calves, 4.50a5.00. Sheep and head: steady; sI 3.0024.00: lambs, 9.00a10.0b. Hogs—Receipts, 3.520 head: steady medium weights, 11.14a11.50; light- ights, 10.75: 11.00; roughs, 8.50a9.00. s -