Evening Star Newspaper, December 4, 1922, Page 25

NEW ERAINSTEE- MAKING PREDCTED $1.000,000 Plant in Detroi Expected to Cut Auto Pro- duction Costs. BY J. C. ROYLE. tch to The Btar. W YORK, December -4.—Detroit w1 roll its own—not cigarettes, but ~teel sheets for fenders, hoods and nodies of autmoobiles. Automotive manufacturers are among the largest purchasers of those products. That nouncement ls significant. It indi ates a trend.of policy which is aweeping from one end of the country 10 the other among manufacturers to- ward making each industry at least sartly independent of fluctuations in aw and semi-finished materials. Keen competition Is forcipng the: declarations of independence from the domination of freight rates, unce rainty of supplies and fluctuations in This competition has com- led manufacturers to rely for .rofits and pre-eminence on reduction ¢ costs through quantity production id careful management rather than ) price advances. New Era in Steeimaking. Construction is under way on the new milllon-dollar plant of the Michl- san Steel Company in Detroit which will roll steel sheets. The best in- ‘ormed industrial experts declared to- Jday this was but the beginning of an era of steelmaking in the automobile venter. Thelr opfnion has been rein- forced by the fact, the significance of which has been at least partly over- 190ked, that Henry Ford already h: +cquired some coal lands and is nego- tiating for several thousand additional scres in Kentucky. Added to that Is knowledge that the Ford Tallroad will be double-tracked, straightened and eventually electrified, and the prospect that the big manufacturer ill sell coal to working-men in Detroit at or near cost. With cheap Ford coal, cheap Ford electric power and cheap Ford gas r commercial uses, added to the ad- antage of the Detroit waterway: nzing ore from the Lake Superior “i&jon. experts declared developmeht f Detroit as a steel center was only & guatter of a brief time. {s"a" result. manufacturing _sites orx the Detroit water front are heing snapped up, and the Pennsyl- vania railroad. whose line into De- trolt has just been completed. has scores of new plants going up along Seck Lower Production Costs. ilar_developments are in prog- 1ess in many other sections of the ountry fn many different lines. The iz strel companies are not a whit bchind in following the trend. They are preparing to cut costs of manu- sale and transportation by new plauts and development ransportation facilities. This endeney {s fully as marked in the ntermountain and Pacific states as in e country east of the Mississippi. | The first real touch of winter has iffened coal prices and quickened ovements. Production both of bitu- inous and anthracite continues at a gh rate. Non-ferrous metals are in cllent positlon. Zinc has advanced, copper is strong despite increased oroduction at the mines, and lead m splendid demand from paintmakes plumbing supply manufacturers and oattery builders. Demand for Shoes Active. Demand for ehoes §s much more ac- 7ive and the buying done recently for =pring delivery has been of unusual ~olume. Ofl production continues to Tesist all efforts toward reduction and mrices are still soft in consequence. Textiles continue to reflect excellent Tequirements. The Amoskeag Mills. Jarge makers of cotton goods, have atarted night shifts and are bringing wproduction back toward capacity a fast as it is possible to secure work ars. Woolen mills are running only alightly under capacity. The demand for both raw silk and finished prod- wucts has slumped slightly, but this slackening is believed to be seasonal It has not been attended by any se- ‘vere price declines. New England Business Good. . BOSTON, December 4 (Special).— Fusiness conditions continue gen- ~rally satisfactory throughout New ngland. There has been some slight ~lo’ % down in the rate of improv ient in recent days, but this is at- iributed to temporary or seasonal in- fluences. Tn generali manufacturing s at the highest rate of activit since the depression first made it- seif apparent two years ago. The majority of cofton and woolen mills are running full time and conditions will be materially better by resump- *lon in full at the Amoskeag Milly. Heavy Cattle Shipments. "ORT WORTH, December 4 (Spe- cial).—After a.year's interruption, H Grain, Produce and Live Stock WHOLESALP MARKET REPORT. It is, yet too early te forecast Christmas prices on turkeys. Dealers expect, however, that the prices will be about what they were during the Thanksgiving holiday season. The condition of the poultry market was reported this morning as being dull, with last week's prices pre ing. Butter prices advanced & cent & J d the market was very firm. No advance in the price of eggs was reported. Meat pricesewere the same an last week, and there was no change noted in prices of fruits and vexetables. 60: average r ; southern, 63. Cold storage poultry—Roosters, per 1b.. 14: turkeys, per ‘Ib.. 40: epring chickens, er 1., 22a33: keats, young, each, 65a70; fowls, each, 20, ) Dressed poultry—Fresh-killed spring chickens, per Ib., 27828 hens, per Ib.. 23a26: roosters, per Ib., 20; turkeys. per Ib. 40a45; keats. young. each, 7 : Live stock: r 1b.. ‘5*; medlum—.c-lv.r ehln,iumlfl Green frut: or bdL. 58t b0 ! u—A%nhn. new, Pt 175a7.50; per bual . n 2 100325 elicionm No. 3¢ por bbl 150 alifornia ‘oranges. per crate, Florida, 3.50a4.50. Lemons. 0027.00.° Grapefruit, 3.00a3.75. ., 3.0023.50. bles—Potatoes. per bbl 00; per sac 0a2.25; No. 041.00. Sweet potatces. North Caro- lina, 1.00a1.50: nearby. 1.50a2.25. Let- tuce. per crate, southern, 2.0083.00. Ro- maine lettuce, per crate, 50a1.25; beeberg lettuce, per crate. 5.25a5.75. Cabbage, northern, per bbl.: nearby cabbage, 1.26a1.5 E plants, 3 !er Florid: bfl:s.oo per basket. et. Peppers, per crate, 3.00a5.00. Kale per bbl, pinach. per bbl.. 2.0023.00. 0z., .28a1.50. .5026.00. Tomato: 3.0025.00. Bean: Peas. 3.0024.50 pe; Florida, .00a1.60. rate, 1.00; California, per crate, 6.50a GRAIN AND PROVISIONS. * BALTIMORE, December 4 (Speciai) Potatoes, white. 100 pounds, 40al.l 150 pounds, 75al1.85. Sweet: 1.0022.26; bush Yams. barrel. 1.50a2.00: bushel, 65a75. Beans, bushel, 3.00a5.00. Beets. hundred. 8.0024.00. Broccoll, bushel, 25a35. Brussels sprouts, quart, 15a20. Cabbage. ton. 12.00a18.00. Savoy, bushel, 40a50. Carrots, hundred, 3.00a 4.00. Caulifiower, barrel, 3.0026.0Q Celery, dozen. 50a1.00. Cucumber: crate, 4.0026.00. Horseradish, bushe: 3.00a4.00. Eggplants, crate, 4.00a5.0¢ Lettuce, bushel, 25a75. Kal 25a35. Onlons. 100 pounds, Oyster plants, hundred, 0 0 Parsnips. bushel. 90a1.00. Peas, bui el, 4.00a5.00. Peppers, crate, 5.50. Pumpkins, Spinach. bush 3.00a4.00. Tomatoes Turnips, Bushel, 50a60. Apples, Packed. barrel. 2.00a5.0 bushel, 30al. loose, bushel, basket. 23240: box apples. 1.25a2.2 Cranberries, barrel, 11.00a14.00. Grape- fruit, box, 2.00a4. Oranges, box 3.00a5.00. Pineapp) 0a7.00. angerines, strap, 4.00a7. Selling Prices at 13:30. Wheat—No. 1 red winter. spot. no quotations; No. 2 red winter, spot, barrel, .293;;" No. 3 red winter, spot, 1.27: No. 3 red winter, garlicky, 1.19%: December. 1.29% Sales—5800 bushels sample grade winter garlicky at 97: 350 bushels sample grade winter garlicky at 103. Corn—Cob corn, new, 5 per bar- rel; contract, spot. 783 per bushe! N+ No. 4. no quotation 2, old or bet- ter, 84 per bushel. ales—None. Oats—White, No. 2, 5313 per busiel; No. 3. 53. Rye—Nearby. 85290 per bushel; No. 2 western export, 8pot, 9 per bushel: No. 3, no quotations. - Hay—Receipts, 82 tons; market for top grade of timothy and light clover mixed, 17.00a20.00 per ton, and for 860d mixed, 16.00a17.50. Straw—No. 1 tangled 16.00; No. 1 wheat, 1 oat. nominal, 12.00a12 CHICAGO. December 4.—Large world shipments, together with a liberal increase of the amount of wheat on ocean passage and a de- cline in Liverpool quotations, had a bearish effect on wheat today during the early dealings here. Sellers, how- ever, were cautlous, being deterred by advices of further rains in Ar- gentina. Some uneasiness over Eu- ropean political conditions tended algo to check declines. The opening. which varied from unchanged figures to % lower. with May 1157 to 116 and July 107% to 107%. was followed by a slight rally and then by anoth- er sag. Corn and oats, although relativels firm, were influenced by the weak- ness of wheat. Western demand for corn was said to be less urgent. After opening unchanged to % high- er, May 69% 1o 69%. the corn market underwent a little setback all around. Oats started at % off to a shade advance, May 42% to 42%, and later showed slight losses. Lower quotations on hogs weakens The movement of Texas cattle into)ed pruvisions. +Mexico has been resumed on a heav. scale. Shipments in® the last week liave been the heaviest of this sea- son and were 80 large that inspectors of the Texas and Southwestern Cat- tle Raisers’ Jaiy “doRN-- WHEAT— High. Low. December. 118 5 1.16% 1.16 1.13 1073 Close. R o8y 1 December. Association made spe- | May. «ial reports of them to the associa- |Jaly. Tion. Over 3.000 head of cattle went rough El Paso alone. These ship- ments represent s big source ‘of rev- enue to Texas stockmen. $20.000.000 in Building. ATLANTA, December 4 (Special).— OATB— July. May. R Fuilding operations in this section |Janus 12 vontinue brisk. Inditations today point to a total of more than $20.000.. 000 expended In construction in At. anta alone in 19 Lumber and ma- 7erials are firm, with orders exceeding suppl. *ittshurgh's Fire Loss Increases. PITTSBURGH. December 4 (Spe «ial).—Pittsburgh’s fire loss’ for ten months of this vear was $2,500,000 in escess of the recdrd for the whole of 1921. In October there were 229 fires, involving a total loss of $217,725.83. X campalgn will be inaugurated to reduce fire losses. Big School Bond Issue. ST. PAUL, December 4 (Special).— St. Paul is preparing a new school building program to be financed by a mew $5,000,000 bond issue recently voted. The first $1,000,000 of this sum %s expected to be made available xhortly. (Copright, 1922 " ANOTHER BIG STOCK DIVIDEND PROPOSED Du Ponts Would Increase Capital From $80,000,000 to $100,000,000. My the Associated Press. * WILMINGTON, Del.. December 4.— Stockholders of the E. L. du Pdnt de Nemours and Company today ap- proved an increase In the authorized mmon_capital stock from $80.000,- 00 _to $100.000,000. This will be accomplished by issu- iug 200.000 additional shares of a par value of $100 a share, a part of which issue it is intended to distribute as a 50 per cent stock dividend. This ace tion will capitalize a part of the com- pany's surplus, which has already been permanently invested in the company's business. The directors will meet tomorrow to uct-on the proposed declaration of the dividend. 300 PER CENT MELON VOTED. NEW YORK, December 4.—Stock- holders of Vacuum Oil Company have approved an__increase in stock Amounting to $55.000.000. from whiclr 2 300 per cent stocl: c:vidend will be declared on the $15,000,000 outstand. ing stock. Reduction of the par vllu; of the shares from $100 to $20 also was authorized. " y DAIRY PRODUCT: BALTIMORE, December 4 (Special) Live poultry—Turkeys, pound. 40 5: poor and crooked breasts, 30a35: spring _chickens, 21a23; legh 20; old hens, leghorn: 18; 14; ducks. 19a24: emali 18; geese, 20a28; Bigeons. old roosters. and poor. 1 pair, 0. Dressed poultry—Turkey, pound, 42a48; old toms, 40; poor and crooxed asts, 34a35; chickens. 22a25; old roosters, 15; ducks, a28; geese, 25a30. Eggs (losy off), native and nearby firsts. dozen: 56: southern, 53a5¢. fancy. pound, 5; pI nearby creamery, 45: ladles, 35a36; rolls, 32a36; mtore- packed, 32; dairy prints, 33a35; proc- ess butter, 38a39. CHICAGO LIVE STOCK MARKET. CHICAGO. December 4.—Hogs— Receipts, 64,000 head; market 15 to 20 lower; bulk, 18Q to 240 pound aver- ages, 8.05a8.10; good and .choice, 210 to 270 pound averag .16; top, 8.15: butk, 140 to 160 pound averages. 8.10a 8.15; packing sows mostly 7.25a7.60: desirable _ pigs, 00a8.15; heavy weight, 7.95a8.1 medium _ weight, 8.05a8.15; light 'weight, 8.00a8.15; light light, 8.00a8.15; packing sows, smooth, 7.40a7.75; packing sows, ;on‘h, 7.10a7.50; killing pigs, 8.00a ttle—Receipts, 25.000 head: fairly active; Killing quality rtther plain; beet steers and_butcher she stock steady to strong; bulk.beet steers, 8.00210.00; Celery, per el 50a65; basket, 23a | 25a30; guinea fowls, each, 40a | RAILWAY GOMMON SOLDATEATOB3 12 Traction Firmer—Farmers and Mechanics’ Plans to ® “Open” New Home. BY 1L A. FLEMING. After many days of insotion to- day's seseion of the local éxchange Was atténded with considerable di- versified business, and for tho firat time In wecks Rallway, common showed on the siles sheet. In the perfod of dullness the bid and” asked price, have been quoted at “the same,” 6113 bid and 67 asked. It was after the regular call that the first, a hare Iot, sold at 64 and then & lot at 631. It had been predicted that the stock would move up. but the predictions were evi- dently wrong. ‘The preferred stock also some weakness, Selling off from opening at 76 10 75%. » In the meantime Capital Tractlo moved up a fraction, selling from 101% to 102% The first transaction in Federal- { American National Bank stock since the merger was reported, the price. 150. American Security and Trust Comipany shares brought 281. Lanstop_was in_a little better re- quest at 76% to T6% ! "Rallway 4s were the only bonds on the local list in which there was any trading and thev changed hands at 74% for a round lot and 73% for a $500 bond. showed an Celebrate December 8, 1922 The Farmers and Mechanics' Na- tional Bank of Georgetown wliil cel- ebrate December 8, by moving its cash, valuables and needful apperte- nances from the old home. where for 108 years it has given faithful and dilligent service to thousands of de- positors without the loss of a penny to any of the many who have trusted “old reliable. After spending more than a cen- tury in the old location on the south- east corner of 3ist and M streets, the old bank wiil now take posses- sion of the beautiful and ornate structure prepared for its use on the northeast corner of Wisconsin ave- nue and M street. and all day and in the evening of the Sth will be at home, radiant and Young once more, with the officers and directors on hand to welcome visitors. It was in 1813 that the organisa- tion of the lenk under the title of “The Presldent and Directors of the Farmers and '‘Mechanica’ Bank" w begun. In that year also the by- laws were formulated and published for four succdssive weeks. The rec- ord indicates that the bank was func- tioning February 14. 181 The minute book of the mesting of the directors held on that date is in the possession of the bank today and perfectly legible. Among the items of business re- corded at this meeting is a record of a resolution, authorizing the inveat- ment of the first subscriptions to the stock of the bank Treasury notes, and again May 17. 1914, the cashier was authorized to take $50,000 of the last loan of the United tates and from that day to this the bank has ever been ready to heed the call of the government for funds. The government was prosecuting a war at the time the $50,000 loan was made, and later on the War Depart- ment requested $50.000, as evidenced by a letter from James Monroe, then Secretary of State, but acting secre- tary of war, requesting that $50,000 be advanced in the absence of the Secretary of the Trearury to meet cer- tain drafts by contractors who had furnished rations to an expedition down the Mississippi river. On March 3, 1817, the bank was char- its title ex- jtended again and again until the na- | tional charter was taken out in 1872 un- i der its present title. “Tioe Farmers and Mech: o During the years of the bank has Tepaid its stockholders fair_dividends; with the same capital | stock, $262.000. has accumulated a sur- plus ‘of $298.000 and has $100,000 un- ‘dlvided profits. Banks have reared thelr heads in [ Gompetition alongside the Farmers and Mechanics National, meveral of them, {for Georgetown was the business cen- ter at one time, while but one com- Detitor remains today—the Potomac Savings Bank. on the opposite corner from the new Farmers and Mechanics National home. The Farmers and Mechanics Nat'onal has lived modestly. It is still housed where it has been for over a century: remodeled over and over again, but It had ceased to be up to the require- ments of a modern banking home. After many frugal years, Harry V. Haynes, a modern up-to-date bank president, decided to throw off the old garb and follow trade to the new mod- ern;building on the Wisconsin avenue corfler.” o With the completion and ocoupan of the new home, an expenditira. of 3$300.000 will have been made without encroaching on a penny of the bank's eome L. Nichol eorge L. Nicholson, Robert D. Weaver, J. E. Dyer. Wililam King and J. McKenney Berry, the bullding com- mittee who have successfully “put over” | the new bank building, are expected to jassist Mr. Haynes and his Tellow om- cers an rectors a e - ing on Friday. Erandiioven 40,000,600 OWN ROADS. Lines Represent $20,000,000,000 Invegtment, Executive Says. NEW YORK, December 4.—The rail- i | i i i 17a | ropds of the country represent an in- | % vestment of $20,000.000,000, according {to 8 summing up of the nation’s in- er ecutives, who show that the railroads are owned: by the people through more than 40,000,000 stock and bond holders, bank and saving fund de- positors and insurance policy holders, and spend $5.000,000,000 a year for wages and purchases. ° The raflroads employ, through p: rolls and buying power, probably more than 3,000,000 persons, and their pay- rolls, purchases and construction ex- penditures support upward of one- seventh of the total population, stated. —_— i FOREIGN EXCHANGE. { (Quotations furnished by W. B. Hibbe & Co.) { Nominal Selling checks gold value. today. 1:30. London, poun 4.8665 4.53% Montreal, dollas franc. several loads fat steers fed with show | Stocl cattle held at 13.50a14.00; bulls and stockers and feeders to 15 higher; veal calves largely 25 up: bulk vyalers to packers, early, 5.00a9.25; lers up to 10.00, and above to out- [ bulk stockers and feeders, h 00. b Receipts, 28.000 head; fat Tambs q. %\‘: weak to 25 lower; early top, 1 Mo ‘kers, and city butchers; fa ubles desirable 83-pound fresh fed lambs, 13.00; feeders fairly 53-pound western feeder sheep early steady; heavy fat ewes around 5.00; lighter welght upward to cls. AR SILVER PRICES. LONDON, December 4.—Bar silver, 323-16 pence per ounce. Money, 11 Bires monthe. Dilia, a3 ver oon ree mon NEW YORK. Dcum?cr 'z—nmn b.;‘-nvw. T64%. Mexican dollags, TODAY’'S COTTON PRICES. - NEW YORK, December 4.—After opening steady at a decline of 4 to 13 points in response to rather poor ca- bles, the cotton market stiffened up a few points on local buying and byying of May by brokers with Japa- neése connections. As $0on as the ini- tial demand’ had been supplied, the market eased of” agaln under liquida- tion and a little southern selling, with January selling around to 24.83 and Mareh to 24.90 or about 10 to 15 points net lower on the general list. 11:45 a.m. bids: December, 24.86; March, 24.94; May, J-nua.r.‘y. 24.90; 24.83; July, 24.52. Quiet but steady. NEW ORLEANS, D ber 4.— m_bids: Decembér. 34.48; Janu- , 34.48: March, 34.47; May, :24.35; w2414 asked, Steady. nics National Bank of George- | its existence | NEW:YORK CURB MARKET Rocaived by Private Wire Direct to The Star Ofice. BY WILLIAM F. HEFFERNAN. NEW YORK, December 4.—Operh- tions on the Curb Exchange today were qulet, with the volume of busi- ness considerably smaller than In re- cent sessions. Trading statted where it had left oft at the close of last week and as the day progressed the price movement became very irreg- ular, g Professional operators were inclined to take profits In the Standard Ofls. Among the stocks affected were Prarie '0ll and Gas, which| had quite & sharp run up in the lattgr part of last week on announcements that the compan$ intends to doclare a 200 per cent stock dividend: Crescent Plpe Line and Imperial Oil of Canada. Olis Decline Heavily. Following the approval of an in- crease In the capital of Magnolia Fe- troleur by stockholders at a special meeting, a dividend of 50 per cent !n atock was declared by the director- te. However. this action proved to have been fully discounted by the action of the stock, which lost almosat 10 points . Standard of Indiana wa heavily s0l¢, and declined 3 poin! NEW YOR December lowing is a list of today's highest, lowest and closing prices for the most active bonds and stocks deait In on the New York Curb Market: Salen RONDS, in thousands. b 4 Allied Packers 81 1 Fe 10 Am Gas & Elec tis. Am Smelt & Refin 5s. Am T & T 68 24 101 da 6a . 0 1 40 3 Reth Steel Ty '23. Beth Bteel 7s Can Nat Ry Eaquip 73 10034 0] 10 410015 1033, 1081 Gult Ol of Pa ¥ 2 Hood Hubber . 3 In R T actfs of dep Kansas ¢ E_fs.. Kan City Kan City | Detroit (i Gaiena Sig 0il Kennecott Cop [3 Bhawsheén 75.... | Sheff Farms Size.. Bloss-Shefl #.. 1 1024 3 367y Sales STANDARD OIL ISSUES. ' in unite. g0 Angla Am | rescent T s land P L. . Y Iransit Pra Prairie P L . 0 Nouthern I 170 500 8 O Cal new. 9550 8 0 Ind...... 100 £t 01l ¥ York new. Yacuum Ol &i Vacuum Oil pev 420 Allied 180 Allied Ol new 1 Atiantic Guit Oi 50 Boune Oil 1 Bost-W, 27, Syndicate 3 Citles Service. 3 Cities Se 11 Cit Serv “B 10 Engineers Pet Federal €1, Washington Stock Exchange SALES. hington Railway and Electric 43—$1.000 51 Traction—10 at 101%, 10 at 102, 3 i, etn iligton Railmas and i preferred —5 at 8. 10 at 76, 7 at 6. Federal-American National Rank:.12 at 1 American Security and Trust @ cmpany— € 282, 10 at 281 = *‘Lanston Monotype—20 at 6l 10 at 6%, is N Washington Rail 20 at 75lq. 6O Washington —100 at 64, ington R w s _Call loans, 5 and 6 per oot BO AFTER CALL. and_Electric preferred 30 at T .y"im Electric 45—$500 Money—Ct { Bid and Asked Prices. 1 UTILITY. PUBLIC U B, Ak 1 m!’; Metropolitan R. Potomac Electr} Potomac Flectric cons Por Electric deb. 8s. 00 81 854, in the railroads, by eastern ex- | i l('. C. Paper dMfg. 6a. | Riggs Realty 5o (long Rigge Realty Gs (short) ty Storage & Safe Dep. 6s ‘Market Cold Storage Js. Park Hotel 6s. STOCKS. PUBLIC UTILITY. 1y i ’ apital . | ‘oiumbia SAVINGS BANK Commerce and Savings. Firemen ational Unfon. .. L TITLE INSURANCE. lumbia ok o MISCELLANEOUS. Columbia Grapliophone com. umbia Graphophone prd. at A t 7 | Railway and Electric common 10 fol oduuppnrllnt orders were encoun- te: red. City Service fssues featured the ading in the Independeat olls, get- ting up over 7 poiuts, while the bank- ers’ shares moved ally. City Service prefer tionally, while oth remained araund their closing levels of 1ast week. Gui Ol of Pennsylvania started higlier, but lost the early ad- vance in the afternoon. Reo and Durant Active. Imperial Tobacco of Canada an- nounced the declaration of a dividend of 1 per cent on the ordinary shares, but this had no effect upon the stock. Reo Motora continued active and firm on tho report that net profits for the year ended August 31 amounted to $3,140,529. mgainst $1,022,232 for the same ‘period last . Tt was also reported that Reo's profit {surplus for the samo period was $5,719,913. Durant Motor continued to reflect excellent earnings of the company and again made & nmew high record. 1n_the aferncon, however, realising ht about & reaction from in this stock. Otfier motor stocks were neglected, with the ex- ception of Winther and Durant of In- vhich were traded in around 'the highes | 5 Ames Lowry Oil. Lyona Pet. £2 Mammoti 19 a . 5 Marac: Merrit 3fex Mex t 0 [} i Mount Gulf 2 Mutual Of . 10 Noble Ol & Gas. 1 New Eng Luel Oil Y ol . 1 104 10% 34 2% .01 113y 0 Slutns Pet - ' 1 Staten 011 R { Amai_Leather Am Wawalian 8 Arnold Con Co w i.. 4 Atlantic Fruit ..... 17y Brit Am Tob Co'cou 20%, Buddy Buds.. 2y 073% Tehigh Val Coal May Dept Stores.. Mercer Mot....... Mer M votiog Mexabi Tron N Fiction P N Y Alrbra Peerless Motor., Philip Morris Plioenix Hose W i Prima Radio @Go Repetti Reo Mot Seh Standard M Technicolor lae 2 pper. ... Candelaris Mining . 2 Columbia Emerald. . Con € Min tem cfs. i i i i i i I a e 40 Ohin Copper........ 5 24 Ray Herculea inc.. % 70 Richmond Copper.. .29 20 Ruby Rand Mines.. i 120 Sandstorm Kendsil. 20 Silver Minen of Am . 20 8ilv King Div reor. . ! 10 Spearhead Gold hes . A'H ot it 15 Tuolomne 84 United Eai § Contineat 0 7 West End Consol IPLAN FIGHT ON PESTS . NOW DAMAGING COTTON Associuted Press. MEMPHIS, Tenn., December 4.—Dele- gates and others interested in the raising and marketing of cotton in all the southern states are here for a three-day conference of the cotton state’s commission, at which the prin- cipal topic for discussion will be the]of adoption of uniform legislation look- Ing toward greater co-operation with the United States Department of Ag- riculture in the control and eradi- cation of insect pests of the cotton| crop. Henry C. Wallace, Secretary of Agriculture, and a number of other representatives of the Department of Agriculture are among the speakers scheduled to mako addresses. In‘calling the conference here the commission stressed the necessity of concerted action in all 'southern states in the fight against the boll weevil and qther insect pests. In this cam aign against inseet pests of the oot- roll‘:rov the commission has recom- mende Selection -of well drained, fertile s0ils; Preparation of good seed bed liber- ally fertilized: Planting of good seed of improved, early-maturing varieties recommend- ¢d for that particular section by state experiment stations and the Depart- ment of Aj 1t H Planting of seed of a single variety by _entire communities and counties; Securing and maintaining a full stand through proper planting and liberal use of seed and early and frequent cultivation | Destruction of all possible adult weevils either by hand picking or poisoning, if weevils are numerous whken cofton is just beginning to uare; Picking and destruction of all punctured equares every week or ten days if not equipped to poison by dusting; 3 Picking of cotton in the fall as rapidly as possible and immediately killing all cotton stalks, thus destroy- ing the food and the breeding pilaces of the weevil. _ nd loss | NEW BILL WIDENS RETIREMENT ACT Lehlbach Measure . Gives Right to Those of 30 Years’ Service and Age of 65. ANNUITY MAXIMUM UP $1,200 Placed a3 Greatest Total to Be ‘Allowed—Employes { Favor Program. Chairman Lehlbach of the lHouse committee on reform in the civil service today introduced a-mew bill amending the civil service retirement act approved May 22, 1920. The three prin- #1 cipal, features of ] the new legisla- tlon Introduced today are as fol ‘ < it pro- for retire- ment after thirty years of service. Second, it low- ers the age of the seventy-vear to sixty- ME. LEHLBACH. it in-| annuity to_a maximum of $1.200. | Representative Lehlbach, . who fathering this measure, has been a continuous friend of the civil serv- since he came to Con- He was Jjoint author with Senator Sterling "of the original re- tirement act and of subsequent amendments. | imployes Favor Bill. The new bill is in line with the re ommendations of the board of actuaries in tne L&t annual report. It carries out some of the suggestions and recom- mendations of cabinet members and i It meets with the hearty approval of civil service em- ployes generaliy “If this measurc is enacted it will make a worthwhtle civil service retire- ment law and at e same time Luild a better civil rervice” said Robert H. Alcorn, chairman of the joint con: nce on retirement, representing civil service employes of the United States. [ The new bill wouid amend the first { parugraph of section one of the present law 0 read as follows: iffective in Ninety Days. ‘ 'hat, beginning at the expiration of ninety days next passage of this act. all employes in | the ciassified civil service of thel United Stater who have on that date, or shall have on any date thereafter. teached the age sixty-five years jand rendeced at least fifteen years of | servies compated prescribed fu 10 section 3 of this or who xh:\lx! Yeted ¢ rix’ years of serv- ice <o compuied, shail be ellgible for retiremen m an annuity as provided | in section cretofors i wallway p following the Provided that ; tal clerks shail be elizible for retiremen y-two years of age If said postal clerks have rendered cast fifteen years of service as prescribed in section 3 of this act or who shall have com- pleted thirty years of sc:vice £0 com- puted. The new bill would amend section 11 of the existing law to read ax tollow “That for the purpose of determin- | ing the amount of annuity which re-| tred employes shall receive, the fol- | Iowing method shall be used: Rules for Retireme: I “The anuul ed employe | 1 cqual the number of years of § service (but not to excced thirty), ultiplied by the average annual sic sulary, pay or compensation re- ived Ly such emplove from the United States during the ten years next preceding the date on which re- tirement shall take place. but not to oxceed $1.500. divided by forty-five, but* said annui Il in no case ex- ceed $1,200 per annum, provided that where the number of yearh of service shall be in excess of thirty, or where such aveiage salary is in excess of $1.500 per annum, the vears of serv- ice or (he average salary, or both, as the case may be, chall be treated for the purpose of computing the an Puity as thirty and 31.800, respec- tively. Provided, further. that in determin- ing the number of vears of service, for the purpose of computing annui- tles hercunder, fractional parts of a year in respect to the aggregate serv- Ice rendered shall be disregarded and lme annuities shall be so computed as 10 be the nearest multiple of 12, Extras Not “The term ‘basic pay, or compensation,’ wherever used in this act, shall be so construed as to ex- clude from the operation of the act 1all bonuses, allowances, overtime pay or salary, pay or compensation given in addition to the base pay of the po. sitions as fixed by law or regulation. Section 7 of the existing act would be amended by inserting after the i first paragraph of that gection a new paragraph to read as follows 3 | Must File Application. svery emplove who is or hereafter | becomes eligible for retirement be- cause of completing thirty years of service, and who has not otherwise reached the retirement age, may i within sixty days after the passage of this act or thirty dave before hav- ing completed thirty vears of service, ,Ol" at any time thereafter, file with the commissioner. of pensions an applica- {tion as provided for in this section. Annuitles granted under this pro- | vision fhall commence from the date of separation from the service and shal] continue during the life of the annuitant. The new Lehlbach bill provides also that the annuities being paid to those already retired under the provisions the act of May 22, 1920, and as amended, or as extended by executive orders, shall be paid in sccordance with the provisions of the new meas- ure commencing on the first day of the month succeeding the passage of this new amending measure. . —_— BROKERS’ LOAN REPORTS * NO LONGER REQUIRED By the Associated Press. NEW YORK, December 4.—The committee on business conduct of the statement of the amount of their brokerage loans outstanding no long- er would be required. The statements were originally re- quested of the exchange by the fed- eral reserve bank during the war, In order to previde means whereby okerage houses could obtain suffi- eient funds to carry on their busi- ness at a low interest rate without competition from the government, which was then carrying on its lib- erty loan campaign. These reports were regarded as confidential by the reserve bank, which used them mere- 1y for its own Information. It was explained today that the need for such reports has disappeared and that the federal reserve bank had withdrawn its request for them. $4,000,000 IN. KEW ORDERS. NEW YORK, December 4.—The General American Tank Car Corpora- tion has recently boc.ed orders for $4,000,900 of railroad equipment, con- sisting of orders for freight cars for the Northern Pacific and Chicago. Milwaukee and St. Paul raiiroad and for tank cars for the Tezas Company and others. DOUGHBOYS PLAY SANTA 70 GERMAN YOUNGSTERS Raise Purse to Give Rhineland Children Beal Christmas—Also : Aid Poor ot. Area. | By, the Assciated Prens. COBLENZ, December 4.—The Amer- foan doughboys in the Rhineland are meking up a purse of many milllons of marks with which to give German ¥ ters a real Christmas. The Rhineland post of veterans of foreign wars started the purse with 300,600 marks, and every roldier in the Amer- ican forces is giving at least the equivalent of one dollar, which is more than eight thousand marke. Top sergents, are Intrusted with the task of seeing that none of the soldiers fotgets to contribute. 1 Relief work already has begun among the German poor. A number of soup kitchens are operating, sup- ported largely by officers, and the veterans’' committee is collecting cloth- ing and toys which are to be distrib- uted to the German children at the customary Christmas tre American forces in Germa: 6% MONEY 1st TRUSTS L. W. Groomes 1416 F St. ENTS l.et us manage| vour Rental Prop- -rty. Over a Quar- ter- of a Century Experience. B. F. SAUL CO. 1412 Eye St. NW. Main 2100 $5,000 Life Policy, EEnilined " eae, Kaoots orer $606,006.80 M. LE ROY GOFF co—All Branches ward Building | | ! | ! Insuran Room 610. 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