Evening Star Newspaper, December 1, 1922, Page 29

FINANCIAL. LOGAL SECURITES SLOW BUT STEADY Capital Traction Leads at 101 1-2—May Pay Bank Taxes to December 31. BY L A. FLEMING. Trading in local securities continues siow. with very little indication of im- yrovement in the volume of business. Prices, however, seem to hold well, ind where there have been price con- cessions, as in the casg of Lanston, very little stock has been brought out by tie reaction to 76 bid and 77 asked. Railway common was nominally a Yittle firmer, one lone share being sold while one share of the preferred brought 76%. ‘The asking price for the common in quotation lots w €apital Traction steadied at 101%, with suflicient demand to absorb 78 shares in lots steady at 97, Gas 3s, 95, ver cent notes, 1043, Federal Bank Bullding. ‘he old home of the Federal National will be turned over to Postmaster | nce to be used as an_emergency t office preceding the holidays. The 1 location mukes the site espe- ¥ desirable. Tt is also the intention of the di- rectors of the recently merged bank, to install in the old offices a new siness departmment, which will re- in there uniil the definite pur- se of the bank as to the old build- ng has been determined. Personal Mentlon. « Joshua Evans. j in St. Louis on busi and wil return unul of 2 corge O, alson of the Liberty National, was at his desk this morn- ing after & week's illn Frame Finds Fault. Andrew J. Frame of Waukesha, Wis., prominent In the councils of the ‘American Bankers' Association, has taken exception to the large amount of idle cash in the vaults of the regional banks of the federal reserve system, to the extravagant buildings that have been erccted in reserve cities and also to par check collections. lany bankers will agree with Mr. ame on the first proposition. whiie supporting the second., but not the Third. He claims that at least $1.000.000.- 090 of the cash on hand should be returned to the banks ow the money, that they might employ it in caring’ for the demands of business. This great fund is part of the re- serves of member banks. carricd_on time and demand deposits according fo law. and can only be changed by an act of Congre: On these funds the banks do not re- celve any Interest whatever, and this fact has driven many member banks of the system. t is claimed that non-member banks can use their funds to much better ad- vantage than m-mber banks, while en- Joying all the privileges of member banks through affiliatlon with a bank that Is a member of the system. May Pay Taxes Later. Bankers who 4id not pay taxes for thelr institutious during the month of November may pay before December 31 without penalty If they =o desire. Thus they may wait to the end of the year, and then, if thev deem it advisable, make payment and take advantage of tax reduction from income taxes. BANK PURCHASES BONDS. Bethesda Institution Takes One Entire Montgomery County Issue. The Bank of Bethesda has pur- chased the entire issue of Montgom- ery county 433 per cent Street im- brovement bonds, the purpose of which issue is to provide funds for improving streets in the section of Bethesda known as Woodmont. NEW PIERCE-ARROW HEAD. NEW YORK, December 1.—M. E. Forbes, formerly vice president of the Plerce-Arrow Motor Car Com- pany, has been elected president. Col. *harles Clifton. who has been both vresident and chalrman of the board, remains as chairman. S. O. Fellows lias been eiected treasurer to succeed Mr. Forhes, who has been acting f treasurer. Washington Stock Exchange SALES—AFTER CALL. Washington Gas 7156—$1,000 at 10415. at gasbington Rallway aud Electric com.—3 Washington Gas 53—$300 at 95. Capital Traction 55—$1,000 at 97. n‘saly.smu Ballway and Electric pfd—1 pital Traction—10 at 101%, 10 at 101%, 101%. 10 at_101%,. 1 1013, 10 at 1013, 8 at ;‘mxl: Sk aval Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. & and Potomac gn: . and Potomac Telephone and P_Teephone of pital Traction R. R. 5 ¢ity and Suburban Georgetown Gay 1nt B Metropolitan R. R. s 58 tomac Electric 1at Potomac Eleetri Totomac Elec. Tower . mi. 6x.. ot Elec. Pow. g m. & ref. .. Alex. & Mit. Ver. os h., Bait MISCELLAN. D. 0. Paper Mfg. 6s. Riggs Realty 5s (long) Riggs Realty bs (short). Becarity Btorage & Safe Dep. Ga Wash. Market Cold Storage Bs.. ‘Wardman Park Hotel €s.. Terminal Tax! pfd. ATION District =3 Farmers and Mechanics’. Federal-American - 165 200 283 288 Continental Trust. 80 08 ations] Savings 285 820 W 1 o . 306 28 BAVINGS BANE. Cemmerce and Savings. 10 East Washingto) 14 Becurity Bavings sod Com... .l 210 Seventh Btree 160 United States 200 A 240 merican 0 National Tnion Colymbls . Real Eatate ¢olumbia Graphoplione com. {olumbis Graphophone pfd b, (. Paper pi Moerchants’ Transfer and Storage Mergenthaler Linotspe . i Duteh Market com BY WILLIAM F. HEFFERNAN. NEW YORK, December 1.—Stand- ard of Kentucky was the leader of Standard Oils in today's trading on the curb exchange. Announcement over the hollday that directors had declared an extra dividend of §5, in addition to the regular quarterly $1.25, brought active buying into these shares. A special meeting of stockholders has been called for De- cembe to vote upon the proposed increas in the capital stock from $12.000,000 to $17,000,000. If this is approved directors will declare a stock dividend of 662-3 per cent and place the new stock ¢ a §4 basis. Realizing sales in the afternovon, however, brought about a reaction from the highest. More Stock Dividends. Other Standard subsidiaries to an- nounce large stock dividend distri- butions were Prairie Oil and Gas and Prairie Pipe Line. Both companies have called special meetings of stock- holders to vote on proposed increases in the capital stock, and If these are proved, a stock dividend of 200 per cent will be declared by both com- panles. Pratrie Pipe Line ponded with slight advance, while the action seemed to have been discount- W YORK. December 1.—Fol- lowing is a list of today's highest, lowest and closing prices for the most active bonds and stocks dealt in on the New York Curb Murket: Sales in BONDS. thousands Low. 8 4 Am Light 6s....... % 10 Sr:wun Mine: 33 Am Smelt & Retin ‘eck Hugh 1 A Sumatra Tob Tl.s ! opah Divide. 3 Anacons . 1008, 1007 | unopah Exten: 1 103" 108ty | onopah _Mi Cons_Text Cedaby -5 hft 0l cunk 6igs.. Teu¥e 24 Manitoba Prod 8 Mo Fac Ry 6x D 14 Nat Leather Ss ... . T me Tt H&H 5 & H TN fr. igs w0t war Swift & ¢ Tidal Osage. Cnited il Pre To Ryof H'v Vacuum Oft FOREIG: Argentina Ts '25.... King of Netheridx & 3 Russian Gos 2 Swiss Govt s 6 U S of Mexico 45... Sales STANDARD OIL I in units. 100 Anglo Am 0il ... 3 Atlantic Lobos | ... ickese P L. 5300 S 0 Ky pew 7500 S 0 NI new 75 Vacunm Oil . 8100 Vacuum Oil n INDEPENDENT OIL STOCKS. 415 39% 1n bundreds. 10 Allted Oil . 140 Roone O11 . .02 it Serv BB pro Creole Srndicate. 20 Cushi 2 2 Equity Ter pfd 24 Federal 01l 6 Gilliland 0N 18 Glen Rock Ofl 7 Gulf 01l of Pa 30 Hudson 0il @0 Keyatone Ranger 1 Kirby Pet ... 4 Latin Amer Oil. 23 Livingston Pet 8 Lyons Pet .. . 88 Mammoth Ol 14 Marland 2 Maracaibo Oil . 80 Mex Ol .. 20 Midwest-Tex 12 Mountain Prod 4 Mount Gulf 21 Mutual 0il 11 New Mex Las 18 Omar 0il & Ga 1 Pennock 01l @ 8alt Creek new ... 8 Sapulpa Refin . 11 Seaboard Ol 3 3 Shell Union Ol w 9 8imms Pet .. 10 Southwest 01l . 17 Sou States Oil 1 Arnold Con Co w 5 Atiantic Fruit . 3 : . 10% 10% 8 Cox Cash Stores.... 1014 97y 10 5DL&W Coal.... 107 105 107 &g el 628 8 Durant Mot of Ind. 14 14 14 10 Federal Telegraph.. 674 6% 87 @ Fifth Ave Bus ctfs. 8% 8 8 1 Gardner Motor .... 9%, 9% @ 2 Gadtaod Steamallp, 0. a0, 2 2 Goodyesr Tire ..... " 914 9 1 Goodyear Tire pfa. 20 28~ 287 8 Hudson Co pfd..... 14% 14 14 4 Inter Cont'l Ru 5% 4% b 1 Lehigh Val Coal... 80" 77 80 1 Luey Mfg 3 8 8 Mercer 21y o 2 Merrer Mot vot 21, 2 3 Meaabl Tron . FTOGS TEANE T 04 15 New Fiction Pub Co 12 1% 118, % N Y Tele Co pfd... 110% 11010 110, 3 N ¥ Zinc. 160 21 Phillp Morris 20 2 Pyrae Mfg . 10 14 Radio Corp ay 2 Radio Sorp pfd. 24 1 Repetti Candy 17 2 Reo Motor 135 50 Ro O & I 82 3 Btut; 14% 3 Swi 20 1 Tech 2% 170 5 51 3 Toda @ 59y B9i 1 Unit 5% oy 3 Unit By B BUS 1 1A aus 33 3 4 Wa: 2y, 2 11 Winf S TU vt ® oan o [ a8 a7 he %% %% 28 Con 3! (* 30 Ooms Nev Utah ... 08 .08° .08 10 Cork Province Min .17 17 .17 10 Cotem Bllvr .- 1 1% 1y Cresson Gold ... 2 tH 20 Combination Frac M .02* l\g‘, i 20 Emma Silver 400 Eureka Croesu 200 Fortuna Mines - 100 Gold Deep Mines. 8 Hollinger ... 1 Howe Sound 170 Independence 10 Iron Blossom 10 Knox Divide 30 Loe Btar €0 Marsh Mines 30 McNamars Cres 60 National TiR seecee 24 Dear Cops . Dryden_Gold NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. 2:45. | 5% | centimes. THE EVEN ed in Prairie Oil and Gas. After early firmness the stock receded ter points. The Standard group and the inde- pendent olls gepgrally were again strong. Ohio Oll, selling ex-dividend $3. gained over twenty points at ene time. Standard of New York, old, was removed from trading. Fear Passnge of Dividend. In view of the fact that the time for the dividend meeting on South Penn Ol is overdue it is generally expected that the dividend of $1.25 will be passed and that the company will continue its policy of using its surplus for the pur- pose of buying crude for storage. Mam- moth Oil led the independents in point of activity and moved over a range of about a point. The action of Kelly-Springfield in ad- vancing tire prices 10 per cent, had but slight effect on tire and rubber stocks on the curb exchange. Goodyear issues were only fractionally higher and fo was Intercontinental Rubber. Amal- samated Leather attracted attention Wwhen it advanced sharply to a new high record for the year. Durant Scores New High. Motor shares were less active, but i speculative interest again centered in | Durant common and this stock again {went into new high ground. Stutz Motors, however, moved against the neral market and reached a new low record. New Domin Copper. Y Porcupine. K Sil Horo. I m 260 ) 30 10 20 Weat End Cons ext. Wilbert SHORT-TERM SECURITIES, (Quotations furnished by Kedwond & Co.) ——Noon.— RI0. Offer. 108% 1088 it 1061g | 28 101% | 101 14 10043 | 103'3 . of Amer, . of Amer. Cotton Ol 6y ‘I n Sugar 6e 1937..... n Tel. & Tel. 63 102 | American Tel. & Tel. s 19250 Anaconda Copper 6s 1929, 10355 | g 1041 1011, 0y o xport per Export “A™ 6 1925 ont Tiys 1031....... « Hocking Vallex @s 1 Humble Ol Sigs 103 N | randard Of of Calif. 7 1931.. Tidewater Ofl 6i;s 183 Taion ank Car 75 1930, Vacuum Oil 7s 1934, Weatern Unlon 8l-s 193 Westinghouse E. & M. —_— TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ———Noon.— Rate —Maturity. 3i,m March 15, 1923. 3% June 18, 1923 33s September % % n Tune 15, # September 101 13.18 | 4%s daren 15, 10 IoZ1e 100916 | 4308 December 15, 20% §4%s March 15, 1938, 10316 100 | 4148 September 13, 192¢ LY 2 1hy | B — GRAPHOPHONE’S STOCK ! PLAN IS UNDER FIRE Hearing Held on Petition to Pre- vent Additional Preferred Issue. BALTIMORE, December 1.—Hear- ing on the petition to restrain the Columbla Graphophone Factories Cor- poration of Maryland from {ssulng! additional preferred stock was held before Judge Carroll T. Bond in cir- cuit court Wednesday. Similar proceedings were instituted by Van Horn E a former director of the corporation: J. Sawyer Wilson, jr.: Arthur L. Jones and Horatio I. ! Whitridge, brokers, against the Co- lumbia Graphophone Munufacturing { mpany of New York and the Mer-| ntile Trust and Deposit Company. Request was made by the petition- ers that the company be enjoined from collecting any money expended by the Factories Corporation in the acquisition, erection and equipment of the latter’s plants in Baltimore and Toronto, Canada. Further demand was made that the court compel the Graphophone Com- pany to complete its obligation to in- vestors in the Factories Corporation by erecting the plants, which, they allege, were contemplated to be bullt prior to the time the sale of securi- ties was effected. Restraint of the Mercantile Trust and Deposit Company from certifying any bonds offered by both companies for certification was rought. The t;un company Is mortgagor of the plan ROADS ADD EQUIPMENT. Record of 1921 Outdone by 117,238 New Cars and 866 Engines. Railroads during the present vear have added much more substantially to their equipment for transportation | service than they were able to do in 1921, according to a report of the American Rallway Association. Up to November 1, they put in service or had {n process of manufacture 117,238 new freight cars, which was 47,802 e NG STAR, | haphazard acceptance {they come. { modities to the export. 1zed AMERICAN EXPORTS LARGEST SINCE 1321 The rising tide of American ex- ports appears to be under way, ac- cording to a statement today by Dr. Julius Klen. director of the bureau of forelgn and domestic commerce of the Department of Commerce, who the factors entering declared that into this country's foreign trad “portend a most favorable future. The director added that the total of $372,000,000 in exports in October, the largest since March, 1921, marks a progressive increase’ and shows the trend definitely upward. The importance ef foreign trade to the country Is more and more widely recognized as a national asset, Dr. Kleln declared, and called attention to the forthcoming foreign trade con vention to be held in Cleveland, De- cember 5, as an_indlcation of the awakened Interest occasioned in an industrial city. A strong contingent will be sent to the Cleveland meet- by the department, Dr. Klei I PTonts winl Tnelude, with depart- mental experts, some of it8 repre- gentatives who have lately returned Europe. from 050.(2)0 Trade l!fllllfl?I “At present.” Dr. Klein =aid, .”‘e bureau of foreign and dom .iu (nlr:: merce is handling inquiries conce s ing foreign trade conditions at the of 950,000 a year. era in our commercial and Andustra‘l development, an era whose polic 2 : based upon s=pecific facts, groun u( on studious preparation. instead of The transition from ex- materials and bulk com- ation of special- ting more in- tensive salex campaignk i more specialized knowledre has av !o business generally to the \ltallm cessity of co-oberilion wmoni all terests concerned with foreign tra New Trade Sources. roving conditions in Latin Amer- port of raw products dem l("xnlylpt'nun(rlw. the far east and in Africa forecast increased business With those quarters of the world, Dr. Klein sald. In all of these, he explain- ied, the American exporters are seek- ink to eularge their cperations, as v e trade Inguiries. s’:(‘;”;u:"y]-g\l;rn[ Dr. Klein declared that the imports by most countries there had reached an irreducible minimum and any change for the| better meant more purchases in America. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PHILADELPHIA, December 1.— pless hosiery mills here are to- day booked ahead for deliverles run- ning through Janu March. F well booked ah strong I «t. vances. ST. PAUL, Dec of the principal Twin Cities wholesale paper n over the St. Paul houses have tak branch of the Whitaker Paper Com- pany of Cincinnati. The branch will he discoutinued when the stock is sold PITTSBURGH, December 1.—M during Decemb .—hwm“lm the same rice as in No er. 14 cents aq price as in Novem nisa quane and & cents a pir ) i p rmers will t for first- These prices we conference of re intérests. SEATTLE from Alaska will abso cess butter production in this coun- try and stabilize pr Butter is now quoted firmly at 34 cents a pound here. SAN FRANCI High-grade apples from 1. b all the ex- SCO, December 1.— the north- west are in strong demand here and| sell readily today at good pric Common California gtock {8 slow, an better packing methods arc advo- cated. NEW ORLEANS, December 1.— Orders for lumber at southern mills amounted to 81.000,000 feet for the last week. or within a few thousand feet of normal production. Prices for most grades of lumber have advanced. CHICAGO, December 1.—The acute car shortage is aiding the situation of the stesl producers in this district. The Paul railroad has ordered 5,500 cars and is_inquiring for 2,000 more. Demand for structural steel also continues heavy. HOUSTON, December 1.—Tomatoes grown in hot houses for fall and winter consumption now are being gathered In east Texas. The cultiva- tion of this vegetable is an experi- ment in this section. HOUSTON, December 1.—Gas oll prices in this section are holding firm and giving some indication of ad- vances. All refiners in this district are running about normal capacity or at the rate of 40,000 barrels of crude a day. ADELPHIA, December 1.— FIK“:II:LCPOIW in Pennsylvania next summer will be extremely short un- less there are heavy and continuous rains before the earth freezes this winter, or heavy snows throughout the winter, according to John Mac- Farlane, professor of botany of the University of Pennsylvania. NEW ORLEANS, December 1.—The scarcity of foreign raws is proving a great boon to local sugar growers. The domestic raws have advanced 34 cent in the last week, selling at 5.65. with plantation granulated at 575 to 7 or 2 cents more than a year ago. ST. PAUL, December 1.—Lumber- men today estimated winter opera- more than were procured during the entire year of 1921. On the same date this year they had installed in service 866 new locomo- tives and had 1,232 more under orders with manufacturers. During 1921 the entire number of new engines install- ed and ordered was 1,382, —_— BAR SILVER PRICES. NEW YORK, December 1.—Foreign ‘har silver, 643%; Mexican dollars, 9% LONDON, December 1.—Bar #ilver, 32 3-16 pence per ounce. Money, 1% per cent. Discount rates and short three-month bills, 2 7-16 per cent. PARIS BOURSE FIRM. PARIS, December 1.—Prices wers firm on the bourse today. Three per cent rentes 59 franca 30 centimes Exchange on London, 64 francs 15 Five per cent loan, 76 francs 15 _centimes. The dollar was quoted at 14 francs 23 centimes. TODAY’S WOOL PRICES. BOSTON, December 1 (Special).— ‘The Sumner street wool market continued to mark time today, al- though prices were firmly maintained at the figures prevailing earlier in the week. The trend was strengthen- ed by activity and firmness of London and Australian sales. ERIE HAS $6,000,000 CASH. NEW TYORK, December 1.—Fred- erick D. Underwood, president of the Erie rallroad, stated yesterday, fin reply to reports of a receivership for the company, that the road had suf- ficient funds in banks to meet ob- ligations due January 1, 1933. “The Erie raliroad will not go into the hands of & receivership January 1,” he sald. “We have cash in hand of about $6,000,000, and biils due at that time amount to §3,737.41L" = - tions in Minnesota, Wisconsin and upper Michigan will be double those of last season. Wages are from 25 to 60 per cent higher than last year, and there is a shortage of men. PITTSBURGH. December 1.—Inde- pendents are following the American Sheet and Tin Plate Company in book- ing orders for the first quarter of next year at $4.75 base price on tin plate, $3.36 for black sheets, $4.35 for galvanized and $4.70 for auto sheets. YOUNGSTOWN, Ohio, December 1. —Thirty-thrce blast furnaces out of forty-seven in the Sharon-Youngs- town district are active, with monthly production on a 500,000-ton basls. Before the end of the vear one or two more furnaces will be fired, and the output is now at high record for about two years. FOR IN DENOMINATIONS S00 DOLLARS WASHINGTON, D. C., Such interest | of things as| 1307 Connsctiout Shhewns REPRESENTATIVE MANN DIES; IN CONGRESS FOR TWENTY-SIX YEARS (Continued from Firat Page.) of strength has fallen and lles pros- trate, and in this place affection has its way. Dry the tears that no other hand can touch and give comfort and hope to those who suffer. Bestow that peace that brings light when night would distress us, that fllls the void of the grave and conquers death. At the last for us, may the Jordan be dry, the wilderness carpeted and the way made as beautiful as the gardens of heaven. In the name of Jesus, Amen.” 1 Committee Named. Speaker Gillett announced the fol- lowing committee to represent the House at the funeral services in Chi- cago on Monday: Cannon, Madden, Rodenberg, Copley, Britten, Sproul, Chindbloom, McKenzie, Sabath, Gr: ham. Moore, Ireland, Funk, King, of Iilinois; Cooper, Wisconsin; Stai ford. Wisconsin: Knutson, Minnesot inrrett. Tennessee; Sisson, Missis- sippi: Mondell, Wyoming; Montague, Virginia: Byrne, Tennessee; Garner, Texas; Pou, North Carolina; Langley, Kentucky: ‘Oldfield,” Arkansas; For v, Michigan, and Crisp, Georgla. . Dr. James E. Freeman, rector of the Church of the Epiphany, will conduct a simple service tomorrow afternoon. There will be requiem hymns by a quartet. but no speeches o7 eulogies. Arrangements are being | made for the funcral in Chicago on | Monday. The funeral party is to leave here at 6:50 p.m. tomorrow. President Expresses Sympathy. President Harding today addressed ia note of deep sympathy to Mrs. {Mann. in which he not only expressed a sense of personal loss in Mr. Mann's untimely death, but in which he sald the nation had lost an able, fearless jand devoted publie servant ! In the Senate Senator McKinley of iTlinois. in presenting a_resolution ifor adjournment, declared the death ‘of the Illinois representative was a “shock to legion of his friends and {a distinct loss to his countr: Sen- jator Underwood of Alabama, the {demacratic leader, also pald tribute 'lm h!lv'n as & man “loved 'and admired by all.” Returning here two weeks ago for the opening of the epeclal session of Congress, Mr. Mann. who had served his people for upwards of a quarter of a century, took part in the pre- liminary work of the House. A week ! a0, however. he was forced to stay at home because of a cold, which he | tatied to shake off. His condition at first was not regarded as serlous and it was not until yesterday afternoon. {after pneumonia had developed, that lit became alarming. Early In the evening he rallled, but thers was a change for the worse as the night wore on. Shortly before midnight, with his wife and his physician at his bedside, the veteran of many a | congressional battle dled peacefully. Death Comes as Shock. News of Mr. Mann's death was a shock to the House, for few of his most intimate friends knew of his iliness, beyond the statement that he had been confined to his home by a cold. During the thick of the fight last week over the shipping bill in the House Mr. Mann, then confined to his home, sent word to Representative {Mondell, the republican leader. that it he was needed he would go to the Capitol at any cost. Mr. Mondell r plied that while he was needed, espe- jcially because of hix abllity to deal with any situation likely to arise in |a bitter partisan contest, he ought not leave home unless he felt physically able. ’A‘ he watched the battle from a nce, Mr. Mann on the eve of the House vote, Wednesday, again com- municated with Mr. Mondell and ex- D d a desire to get back to his oid job, hut he was dissuaded. Mear While republican leaders arranged 1o have Mr. Mann's vote for the ship- ping measure count, so_they obtained a pair for him with Representative Sabath of Illinols. Regarded Best Informed. But Mann's thoughts were constant- Iy on the work of the House, where his record of service through thirteen consecutive terms, or twenty-six years, had earnied for him the reputa- tion among friends and foes of the best informed man on the detalls of gov- ernment that ever sat in either branch { o Congre: long career as @ member of the | House of Representatives—extending over a perfod of more than a quarter of a century-—were absolute courage and independence and knowledge of legislation, pending and past. There eyve; there was no man or measure he ed to attack. ‘caYrol by his own direction the record of his distingulshed service was sum- med up in less than a line and a half of the Congrsesional Record: “Republican of Chicago; was born in 1856; was elected to the Fifty-fitth and each succeeding Congress. Re-Elected in Fall That meant thirteen continuous terms, or twenty-six years. He was re-elected this fall, and, indeed, it has been said that the people of his dis- trict wero determined to keep him in the House as long as he lived. Minority leader in the House during the eight years of democratic control, Representative Mann saw the speaker- ship go to Gillett of Massachusetts when his party again came into power there, but if the faflure of his party in caucus to select him as speaker left lany tinge- of bitterness with the vet- eran member his friends never saw any sign of it When Gillett was named speaker Mann was offered the place as leader of the party, then in power, but he declined. Thereafter he held sway as the free lance of the House and as chairman of the committee on committees, which assigned members to committee seats. His power was Speaker himselt. Did Not Want Speakership. When the republican majority in the Sixty-eighth Congress was cut in the 1922 election from 169 to less than a score, the silent power of Mann was counted on for possible House upheaval. Months before he had declared he never would accept the speakership or the leadership. But his friends set to work quietly in his behalf. Mann heard of it, and re- iterated his announcement. While the talk was running thick, Mann, meeting reporters, was asked about It. “I have said before and I say now,” SALE OF AND UPWARDS FRIDAY, DECEMBER 1, | The outstanding features of his{government could go to Congress and | was nothing too little to escape his |l equal, if not greater, than that of the | 1922, he stated, with an emphatic sweep of the arm, “that I would not accept the speakership or the leadership If it were brought to me on a gold plat- or.” ay we print that?” a reporter asked. 1 “Yes, and I ‘hope you will,” Mr. Mann replied. In = few hours the news had reached all membars, old and new. 1t settled then and there, and settled definitely, the moot question as to whether the veteran leglslator from the second district of Illinois, who first cams to the House in 1897, could be dragged into another fight. More- over, it cleared the party atmosphere, for opinion was freely held that if Mann set out for one of the high House positions it would require a powerful effort to beat him. Sacrificed Health for Work. Like many others who had gone be- fore him, Mann paid dearly for his work, for during his service as ml- nority leader. while Champ Clark was Speaker of the House, his strength failed him. He had attempted too much. Stricken in body, he was forced to leave, and for months he lay fl1. It has been said that his recovery would have been gpeedy, except that he could not keep his mind off his work. But, finally, he returned, ap- parently in good health. and jumped again into the thick of the fray. His intimate friends have said, however, that the long, severe strain, culminat- ing in his fliness, sapped his strength to a greater degree than he might have been willing to admit. In later Years he worked less arduously, but the thing was in him and he slaved because he loved it. Only three members of the Sixty- seventh Congress had served longer than Mann. Cannon and Gillett top- ped him, and 80 did Henry Allen Coop- er of Wisconsin, though Cooper's fourteen terms were not continuous. Mann came before the Spanish war and stayed. Mann’s ability is best summed up, perhaps, In this brief sentence by Rep- resentative Mondell. who succeeded him as republican leader: “Mann was like a general who uses his forces in mass attack, but he went further and took the slightest advan- tage of any break.” Superior Parliamentarian. From the standpoint of knowledge of House rules and his ability to util- ize them to the best advantage in a parliamentary tangle or debate, Mann, according to members who served long with him, was undoubtedly the ablest member of the House in a generation. He had held front rank for vears as a parliamentarian, but he w always alert, forceful and cffective either in defense or attack. Indced, he could fight as hard as either side. His knowledge of legislation, pub- lic and private, often was astounding to his colleagues. Any kind of a bill might bob up at any time, but Mann seemed to know more about it than the man who wrote it or the chair- man of the committee which reported | it. A sort of legislation wizard. Mann, the free lance, was classed as a member of every committee, when in fact he was not u member. But he studled every bill. He knew what it sought. what it meant. Time and again he would take some flounder- ing committee chairman in hand and help him out or with a few harsh words that cut to the bone, tear and rip the bill to pileces, cause its rout and send the man handling it away, with cheeks burning. Victor Berger once told Mann that he spent too much time picking up pins. “Well. maybe 50" the veteran re- plied, with his characteristic grin. “but somebody must watch these in- nocent little bills. Somebody in the Houre must make himself thoroughly 1 disliked by picking up a_pin and sticking it in hundreds of bills carr: ing funds the government of the United States ought never to be called upon to pay.” Friend of Farmer. Born on a farm, Mann alwa: be- | |lieved in the farmer. He was not a jbloc member, but his influence for ! farm legislation was greater, perhaps, | |than if he had been identified with any paticular group. He was grad- uated from the University of Iilinois in 1876; he carned his degree as a lawyer, practiced for somne years, and for a year or two was a member of the Chicago board of aldermen. For four vears he was master of chancery of the superior court of Cook county. FINANCIAL. Announcement | Formal Opening The Guaranty Savings Bank | | | i THE Officers and Directors cordially in- vite the public to attend the formal opening of its new building, 1121 Fourteenth St. N.W. On Saturday, December 2, 1922 From 8:30 AM. to 10 P.M. 3% on Savings Accounts. 4% on Time Deposits.* Dean, Onativia & Co. Stock Exchange Building New York STOCKS and BONDS COTTON GRAINS COFFEE SUGAR MEMBERS: New York Stock Exchange, New York Cotton Exchange, Chicago Stock Exchange, Chicago Board of Trade, N. Y. Produce Exchange. Associate Members_of Minneapolis Chamber New York Curb Association. Commerce. WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 JOHN CALLAN O’LAUGHLIN CHARLES R. ALLEY Manager Assistant Manager Out of the Large Number of People Who Know How to Save, Few Know How to Invest FIRST TRUST NOTES as issued by us, will be found to be a safe and sure method for the inexperienced investor. Consult Our Loan Department ISHANNON - & LUCH 713 14th Street Conservative Investors Know HAT, in buying investments, there is one stand- After his election to the House in 1897 he jumped into his work and never deserted it. His only other thought aside from his home, was his garden and flower yard at Chicago. He | raised and canned with his own hands | fruits and vegetables. With Congress in recess Mann spent his summers there, plucking and trimming a multi- tude of plants. No expert from the| I hope to tell it more about flowers than {Mann knew. And that same intimate {knokwledze of the flowers that! I bloomed and made fragrant the air{ around his modest home extended to every branch of the government serv- Public Service Corp. of New Jersey Perpetual 6% Certificates A non-callable secu- rity wi:.h-n high cou- Ppon rate in perpetuity. A direct obligation of a company rendering essential service to about three - fourths of the population of New Jersey. Price. 984 and int. To yield: 6.07%. GRAHAM. PARSONS % Co. ||| pomacmoma NEW Yomrx | WasHinaron | 408 Himes Bse. 5000 Lits Pelicy, $1385 Ay s, Co-Operative Building Association ©a YEAR COMPLETED Assets Surples’ Systematic Saving A plan to make -vlns‘ F— jul L1 Eon:t accumulated in & sh . Subseriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President T ard that transcends all others in importance— the standard of safety. For over a quarter of a century we have spe- cialized in First Mortgage investments upon im- proved Washington real estate, in which time no investor has sustained loss of either principal or in- terest. In amounts of $250 and up. B. F. SAUL CO. ! 1412 EYE ST. N.W. Main 2100 Marine Insurance THIS OFFICE IS EQUIPPED TO Quote Rates, Issue Policies and Certificates Satisfactory Service and Co-operation Assured JEWELRY FLOATERS MARINE FINE ARTS Inland REGISTERED MAIL Ocean PARCEL POST TRANSPORTATION MOTOR TRUCK CONTENTS PERSONAL EFFECTS SALESMEN'S SAMPLES TOURIST BAGGAGE Automobile Insurance Company " of Hartford, Conn—ASlisted with AETNA LIFE INSURANCE COMPANY AETNA CASUALTY AND SURETY COMPANY Consult Your Broker. JOHN T. JONES, Mgr. A. J. VOORHEES, Asst. Mgr. Branch Ofice, Woodward Building.—Main 1854-1855 MONEY TO LOAN —in any Amounts on First Mortgages. Lowest Rates of Interest and Commission Prompt Transactions Thomas J. Fisher & Co., Inc. 738 15th St. N.W.