Evening Star Newspaper, January 1, 1923, Page 30

D. C, MONDAY, JANUARY 1, 1923 1922 PROSPEROUS YEAR|Feer. sreet comton, | IN LUMBER INDUSTRY NEW YORK, January 1 Holders of common stock of the United States| Stee! Corporatiom when the books || Production Ahead of 1921 and Nearly Up to 1920, According to Manufacturers. 30 FINANCIAL. INDUSTRIAL BOOM MAKES NEW SOUTH Remarkable Advance Noted in Manufacture of Tex- tiles and Furniture. THE EVENING STAR, WASHINGTOYN, FINANCIAL. GREAT INTEREST SURROUNDS FREAK STONE DISCOVEY. u 553;'000'e ‘Life Policy, $43.85 g0 30, Bt faop ™ S ohirts for Hinstratios: b £ E n:)"\"f'fll;l’ nce—i Woodward Building Money to Loan Becured by first deed of trust ca real estats Trevalling interest and_commission., ». m0. | JosephI. Weller 20 ‘Wash, L. & Tru In Room 610. oth & F nw 8:30 A.M. DAILY closed for the I cr dlvidend OPEN AT number 9 89, the past three months and of 0 from the high r s oo | The Columbia National Bank the closing of the books for the No- g 911 F Street S vembe dividend ow s of the cor-| $250,000.00 $250,000.00 poration’s preferrcd numbered | compared with t and 51,621 fn N verage holdl sto 80, und | ates The production of both hard | soft wood lumber in the United for the ye: 22 is placed by the ational Lumber Manufacturers' A soclation at approfimately 32,000,000, 000 board feet, as compared with the {estimated output of 25%926,000,000 for 1921 and 33,798,800,000 for 1920, ac- cording to ' official statistics. While 1922 did not come up to the 1920 leve which marks the hig € cihpro; duction in recent sidered to have bee .| satisfactory achievement the extraordinary depression of the industry in 192 “The Industry Wilson Compto ager of the asso ceedingly favorable tion. There is no present indic: that the lumber situation will not be as good as in 1 other hand, there are many indic tions that it will be as good or bette GREAT MINERAL WEALTH Best Wishes for a Happy and Prosperous New Year —are extended to YOU by this service-giving bank. {l Should you desire to make a change in, or enlarge. your present financial relations, "Columbia™ will be plea§ed to have you avail yourself of its facilities and service. Savings Dept. Open Until 5 P.M. Tomorrow —ior your convenience. Start the New Year right by depositing along with your customary PAY DAY deposit your Christmas Checks and Cash remembrances, as well as Dividend Checks and Interest Coupons, 3% Compound Interest Paid in September, 51 shares in June and 473 shares in March. GENEVA PACT RATIFIED. ROME, January 1.—The Ttalian| the convention essfon of nference i propos: abine former Textile Plants Now Number 1,148. | Birmingham Called “Magic | City of the South.” on mier Mussoli the nominati Orlando and Auzilotti as the | Italian _ memb th permanent | court of arbit { { Premic pdustrial development has even seen 1s today in the south, an ant quarter of are alive the men The that this atest cou king place ccomplishment of 4 ntury and by men who active tod according to and Few ed befo civil war, which s x0 destr to the agriculture « onomic condi- a e If you have money to invest, we can safely Shoe Recorder e the ictive on savings of the south, it possessed min- industrial than that resources and infinitely greater sriculture ¢ lost cou the balane men went ch of wealth. Her sons hters fought on dog ¢ obstacles and literally firet steps toward ri <sarily confined to the tion of her agriculture and thirty < had passed before she was able financial reserve i Lle her to develop v i I wealth which _h:u\ 5 that time lain practically idie. 1,146 Textile There today the and textile possi- any ties turn The which south nev the war, ousands ot when voung up t 1.146 textile plants North Carolina mills _ with 1,450 Many know the and fam of and Rapids, but outside of the south there Jly not one person in a théu- E High Point, test furniture the country. £ the country Alabama; that lls in the world fabric mills in south; that 67 country’s overalls and ‘hout 41 per cent of the soft wood mber and 35 per cent of the entire Mber output of the country is pro- iced there that the co: area of South is twice as great as that of Europe, luding Russia, south loped Tsepower from its streams ers out of an estimated maximum (ter power of 9.000.000 horsepower, h she can arness in the future use of her rapidly expanding Souther has Q4 in thirty t ! apend. thi ' $400,000,- in highway improvements. Sweeping Changes in 20 Years. veler,” says the Boot and corder, “ignorant of what has in the south in intervening wuld revisit it today he would feulty in realizing that it was ‘rritory he had traveled * The scores of mill e southern states world. streets, pro community all form are south, one ha Mich., M who realizes t the second nufacturing ir that 50 per ¢ Yon Tesources ar dama largest world are cent of the tries o light building: pped wi and _each plot. with nience cultivated village, and ~ dilapidated forever, and the mod- the south represents civic planning and The unpaved Il town of word in developme “The andi ehe h labored under tremendous wps when she started her gre life following the »f the gr <outhern man and woman and lack the ability for con- sustained effort. Nothing ym the truth, Tt other duced 3 the south could mot’ po the finer tissues, fancies and noeltics hecause she lacked the experience and ment of truth in th was first made. s come by an energy and or- ability which would astonish who idly repeat the silly fiction the indolence of the south, in the of training and educating the —earning population. Schools rose hin sight of every miil, textile and ehnical institutions were created and financed, and within a very rs these efforts began to bear hountiful harvest in the form of tens housands of young men and women not merely skilled workers, ut whose standards of life and ideas a -actually raised el of any similar class in The south today is pro- & as fine and beautiful fabrics as to be found in the world. Rapld Growth in Textiles. - rapid and phenomenal advance | south’s textile industry, while © overshadows in extent and dra- atle interest other phases of her ivity, represents after all but one 5 several mighty weapons with which she is fizhting her way to an lsured position as one of the wealth- “nd most prosperous sections of Uhe earth, Second only in importance, .nd with conceivably even greater possibilities for the future, comes the levelopment of her vast coal, iron «nd other mineral wealth. The coal ea of the southern states is twice &reat as that of all Europe, in- luding Russia, and in close proximity o osits of iron ores, which, for practical purposes, are un- limited In extent. The United States weological survey after surveying the teritory, reported that the Alabama flelds were greater in extent and cher in po: famous Pittsburgh district. “The center of the glant industry is Birmingh. ., ‘The magic citv of the <outh.’ Thirty years ago Birmingham Was a little struggling country town f about 3,000 popuiation. ~Today he is a great city of close to 200,000 pulation, Iuildings, broad thoroughfares, mag- wificent stores and beautiful homes. scure in the knowledge of the im- asurable wealth which lies in the ntains that suround her and i ability of her sons to wrest that th from mother earth, she is pressing on with sure step to her {destiny as one of the world's greatest and richest cities. Lumber Now Great Factor. “The third big item in the tally sheet of the south's inexhaustible natural wealth is lumber. A huge portion of her territory is still cov- cred with virgin forest, forming the 1st great timber reserve of the na- on. Under such conditions it was inevitable that sooner or later the furniture industry should find one of ts principal homes below the Mason and Dixon line, and the inevitable has already happened in High Point, N. C., the second greatest furniture manufacturing city in the country, As in the cottons goods situation, detractors of the south predicted that southern mills could never produce anything but cheap soft wood furni- ture. Skilled furniture workers were as,rare in the south thirty-five years Wgo as were skilled textile operators, hut the men who started the furniture industry were of the same breed as the men who fathered the ocotton zoods industry, and they had the aith and vision to undertake the training and educating of the work- ors needed, confident that they had the right material to work om. The result is that today High Point is iurning out beautiful and artistic furnfture as is produced anywhere in America.” est could give. | Well | ¢ and business men review the past | | twelve months and attempt to fore- | its | sibilities than those of | a metropolis of stately | FINANCIAL GLOUDS 1923 Undertone Cheerful, But Business Leaders See Menacing Conditions. MUCH HINGES ON EUROPE U. S. Should Help in Practical ‘Way, Economists Assert—Prob- lems at Home. 1 By the Associated Press. | NEW YORK? January 1—As the country's leading economists, bank- inctly cheerful It is gen- t the future a dis undertone 1s in evidence. erally recognized that the past year has been materially better than ex- | pected—that the business revival has developed an unforeseen vigor. Thus it is pointed out that the country has {enjoyed an unprecedented building {boom, that the steel industry has out- stripped all pre-war years in the mat- ter of the rate of production and that | buying of automobiles has set a new high record. Deflation of prices has ceased and has been succeeded by a distinct firming up, employment i full and purchasing power in the urban and industrial districts is high. 1923 Skies Not Cloudless. In expr ing a belief that the pres- ent revival will continue with a mod- erate increase in vigor during the next several months, business leaders do not hesitate to point out that the skies are not cloudless. It is rl-:'fl)zmlv for example, that the farmers' posi- tion is not yet wholly satisfactory in many districts, and in the northwest, in’ particular, farmers still are heavil. in debt and are securing but modest returns for their crops. Some obser think that be fully two before the situa- tion in these districts will be restored to something like normal. The view is held that conditions are gradually on the mend, and the marked im- provement which-has m’r‘,urrrll in the south as a result of the high prices is cited as an example of what might happen in the grain-growing districts if prices should take a decisive turn for the better. _ Much Depends on Europe. In this connection much emphasis {is laid on_the importance of the I ropean situation. The economisis point out that, roughly, one-third of the country's wheat must be sold abroad and that the price of wheat {s determindd fn the world market. As Europe is the chief customer for our wheat it follows, So the argument Truns, that our farmers cannot receive advantageous. prices for their grain as long as European purchasing pow. er remains depleted. There is a very general agreement among bankers {that the question of whetHer or not the country is to have a return to full prosperity depends on the prog- Tess which is made in restoring peace and commercial stability in Europe. | *"Opinions_differ as to the precise | steps which this country should take, but there is unanimity of opinion on the point that the country's welfare is involved and that business-like steps should be taken to improve the Situation. With regard to European prospects, the attitude seems to be bne of cautious hopefulness. Condi- tions now are thought to be. more favorable to a setflement of the repa- Tations, but it is realized that prog- Tess in this matter heretofore has been slow and that the revival in Furopean trade probably will be gradual. Labor Skortage Looms. Considerable emphasis 1s laid on the shortage of labor. Industrialists assert that labor conditions already Were uncomfortable during the past fa1l and that a revival of the trouble is quite within the bounds of possi- bility during the coming year. Some go so far as to say that bidding for fabor may result in high wages and low efficiency, thus raising production cost and so favoring an inflation which might result in a speculative boom—with unpleasant after-effects. Others consider that the outcome of the shopmen’s strike has had a sober- ing effect and that serious difficulties are not probable. Fxpectations of steady or higher commodity prices are in the majority. Absence of excessive stocks of ma- terials, the labor shortage, the tarift and the existing tendency are all of- fered as evidence supporting this view. At the same time it is thought that money will remain relatively plentiful, although there is a pre- ponderance of opinion to the effect that rates will rise if the revival makes further marked progress. Railroads Progressing. Rallroad executives do not expect any material changes in rates and wages during the coming year. The raliroad companies are stated to be making progress in restoring the physical ocondition of the propertles to normal and there is a general wish that the transportation act be given a fair triai. As to whether a serious car shortage will develop thers much difference of opinion. On the one hand it is pointed out.that th roads have been unable to buy the it willf obtained from the present cotton crop | AMID PROSPERITY hix rock image is believed to have been worshiped by man in pre-giacial times in the Cojorado Rockies, and ne will eclipse ail other records of the existence of human beings known in scientific circles. . Chalmers, who discovered the freak stone on Willow creek, near his home, in the Grand lake ned above the arm and the leg of the being holding the rock tablet, which the image had a long neck and was a vegetabl eating period, having a long Lower right: Chart showing Nobility Dines On 6-Shilling, Boil-Beef Fare ted Press January By LONDO the Assoc 1.—Luncheons _ and dinners at the house of lords | | i | are surprisingly frugal. The set- ting where the legislative nobility of England congregate and the ceremony attending so many of thelr functions stimulate the tmagination of visitors, who ex- pect to find the ‘members of house of lords lunching lavi at midday- and sitting down elaborate and formal dinners at night. On_ the contrary, the lord ‘chancellor recently gave a political dinner, a cheap affair, for when the total of the check was divided by the number of guests it worked out at the rate of six shillings each. Boiled beef, cold ham, tart and grilled chops are frequently the orders given the peers’ dining room to kitchen. An order often sent down the lift calls for a “Lord Finlay with cream.” denoting that the diner would like a portion of apple tart, a favorite dish with Lord Finlay. Many other peers have their special likes. Lord Haldane, for instance, takes little but soda water; Lord _Onslow, cake, bread and butter for tea, at one shilling a time, while Lord Buckmaster always has an order in hand for a Sultana roll. apple most from the usual amount of roliing stock for a number of years and that the volume of traffic_in prospect promiges to be one of the largest in history; while on the other hand it is set forth that the carriers will have a certain amount of new equipment on hand in 1923 and that thev should be able to give much better service than during the past autumn, when they wete struggiing to overcome the ef- fects of the sfrikes. men point out be permitted to earn profits if they are to serve the public efficiently, and this point of view is supported by the bankers and economists. Caution Will Be Needed. Barring strikes and given main- [tenance of the present level of rates jand’ wages, and the continuation of the business revival, it 1s belleved that earnings will be sufficient to maintain the volume of equipment and rail buying of the past vear. Although realizing that there are still many sources of uncertainty and that it Is difficult to see further than from three to six months ahead, the country business observers evehtually find much in the situation to create hopefulness and cheerfulness. Self- restraint and prudence are virtues which are likely to have great prac- -| tical utility during the coming yea but there is a general disposition declare that the present volume of general business speaks for itself. WALES SELLING COAL ON AMERICAN ACCOUNT| Lloyds Says Fear of Strikes in U. S. Mines in Spring Cause of Foreign Orders. * By the Assoclated Press. LONDON, January 1.—Inquiries for coal on American account in the South Wales market and a hardening tendency in frelght rates for the transport of such, coal were noted during the. week ehd. that orders have been received in the Cardiff market for 100,000 tons of large and small coal for delivery in the United States during the early part of 1923. According to Lloyds this dem is being attributed (o fears of fur: ther trouble with the American mi- ners during the spring months. Two fairly large sized steamers have been chartered at Cardiff to carry coal to the United States-at the firmer rates of 7 shillings 9 pence and 8 shillings, respectively, while further brisk in- quiries have been made for vessels up to 8,000 tons. _UD to the present the demand for coal for the United States has been confined to South Wales,.but an ex- tension of the demand to other ports in Great Britain already is being dis- cussed in the freight market, which anticipates brisk business if coal or- ders are placed. CONTINENTAL CAN CHANGES. NEW YCRK, January 1.—F. A. Ass- man, who has been chairman of the executive committee of the Conti- nental Can Company for several vears past, has resigned that office, but will continue as a member of the committee and the board of directors. ‘Waddlll Catchings of Goldman, Sachs & Co. was elected as Mr. Assman's Continental Can was ons consplcuously strong features in Saturday’'s stock market trading, advancing to a new high ,price of 116%. It is estimated that the com- any s earning at'the rate of $9 a share on its new no par value com- mon stock, which pays dividends at the rate of §$3 a sharé. DENVER 3 R PR 00 dinoxaur. nd dencath it a huge mastodon, which lived in All the railroad | that the roads must | It is reported | { TOURIST BUREAU S Lower left: A carnivorous PRE-GLACIAL ROCK INAGE DISCOVERED {Find in Colorado Rockies De- clared by Scientist Most Valuable in History. Make way for pre-glacial man, or memories of him! That's what scientists are doing in temporarily discarding the chronol- ogies of Indians, mound-builders and even the Aztecs of old Mexico in their efforts to establish, if possible, pre- glacial usage of a rock image un- earthed by W. L. Chalmers near Grand Lake, high in the Colorado Rockies. He found the sixty-six- pound stone six feet below the sur- face while enlarging an irrigation reservolr on his homestead. Mammoth animals outlined in the stone of blue granite are cotem i poraneous with the Cro-Magnon p riod. The flat nose is generally ass ciated witk a race preceding the Az- tecs, according to J. Allard Jeancon, curator of the Colorado Historical and Natural History Society, and at one time special archeologist for the | bureau of American ethnology at | Washington. It this stone can be proven gen- ufne it is the biggest find in all an- | thropological research and antedates {anything on the American continent | going to establish the remote antig- j uity of man,” continued Mr. Jeancon. {“I have never seen such remarkable outlines of dinosaurs and mastodons The rock image represen early | ! man sitting and holding a tablet with ! { hands that have but three fingers. On the tablet are hieroglyphics which, in | a measure, resemble signs of the Az- | tecs, Utes and Mormons. If the rock | image is genuine, then all the others are copled from the symbols made by pre-glacial man; if not, then the imi- tation is unusually compelling. Who knows? Scientists in_New York, Washington and Santa Fe are trying to decipher these characters, accord- ing to Mr. Chalmers. | The image through changes in the | { consistency of the rock has become harder than steel. BRADSTREET'S REVIEW ' OPTIMISTIC FOR 1923 ;Good Business for Next Three to Six Months Called Prac- i tically Assured. i { 1 . NEW YORK, January 1.—Charac- | terizing 1922 as a *vear of fulfillment.” { Bradstreet’s . review notes optimism and confidence in the turn of 1923. The review says that “following two vears of liquidation, the progress made, as a whole, was encouraging and a good normal level was reached in many lines. Frozen credits were pretty well melted, but _the record number of failures, and next to the largest volume of liabilities ever recoyded, were evidences alike of continuing strain in many lines of busi- ness and of cumulative effects of past mistakes, overbuying, underconsump- tion and other evils revealed by the slump following after-war inflation. By and large, the year will probably be remembered as a year of improvement (though some of this was rather painful progress) in most lines and, all things considered, a far from unsatisfactory twelve months. “With the most serious economic crisis that ever faced this country ap- parently satistactorily tided over, with the evidences of the excellent progress made since midyear of 1921 in mind, and with_three to &ix months of the new vear's trade and industry fairly secure, the business world, imbued with a de- gree of optimism that verges upon con- fidence, faces hopefully the admittedly numerous uncertainties of 1923.” |LINER WINS HARD FIGHT IN GALES ON ATLANTIC Crew'of 25 Pumps in Water Up to Shoulders, Kickapoo Cap- tain Says. By the Associated rm:' e Sk APE MAY, N. J., January 1.—The oonFat the Munson liner Munmotor, bound. from Norfolk to Boston with coal, has won a two-day’'s fight with heavy gales which smashed hatches and threatened to engulf the vessel iwith tremendous seas, Capt. R. C. Weightthan of the coast guard cuatter Kickapoo, reported upon his raturn from answering an S O 8 call from the Munmotor, ‘When the Kickapoo reached the Munmotor Thursday the coal-laden steamship, about 100 miles off Cape May, was wallowing with a heavy list In high seas and her crew of twenty-five men were working the pumps in water up te their shoulders. The Kickapoo stood by for two days ready to take off the ersw, but by and so far as fundament of supply and demand good for a number o CHAIRMAN 1§ IN PACKING MERGER Samuel McRoberts Armour Finance | cond conce f to ¢ NAMED Head—Firms to Be Acquired. By the Associated Press. NEW YORK, McRobert will be chairman of mittée of both the Illinois and Dela- ware companies a place formerly nois company by of 3. January president of the Metro-| politan Trust Company of New York, |fJ§ held the finance ¢ Armour & in the Ogden Arm place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. Hiun.\i crned, ome EQUITABLE Co-Operative Building Association | Organized 1879 43d YEAR COMPLETED Assets .. . $4,408, rplus . $1,114,464.69 | muel | B Systematic Saving & A plan, by ysing 1 qave a1 each t will amount to « BouE, in a short time. it it has become known through an an- nouncement of the Company, a_member which wi 7 per cent preferr: Armour & Co. this The properties to the Delawa 1y or through stock prise packing hous: Packing Company o Hammond Packing Louis, New York F Meat Compan vision mour pa Fort Wort Indianapolis, J. It will storage pla rovision Company East St. Lou East St. Lov auxiliary plants. Company, Tex Ind., J Other ‘properties to be acquired are in Cuba, Brazil and the Argentine. company, and acquire t of the North American Chase of the ban 11 offer $60 1 sto Wee bo acquired either dl ownership, ¢ s of Fo £ ¥ s Company Butchers ™ Dre Anglo-American Chie! King houses go: and t Denve acksonvill Jersey! also the at Chicago, Cotton Oil Refinery 1llinois, and numerous } BIRMINGHAM SPENDING MILLIONS IN INDUSTRY | Iron District to See New Projects | in 1923 at $37,250, By'the Ascociated Press BIRMINGHAM. Al With furnaces north end of Birm lower end of the mer casting forth against the sky in numbers, the Birm faces a vear of pre of good feeling trial, ers. Approximately trict in projects completed history any in the by the Age-Herald construction and planned accoun of this amount. completed, Cost of ,000. a., January ningham, trict their to red nipgham osperity rivs }any in the era of nistory of the ording to,in banking and commercial lead- in of the show. under ty for § ecurities of at Besse- flares | record-breaking | district Industrial Subseriptions for the king 000.- 000.- 84th Issue of Stock } Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY FRANK P. 1 by rec com wler City, | St ssed Pro- Ar- EDSON, President REESIDE, Secy, ity cold | ablished 1899 | at | | " 767 or 614 | B »unts fore placi st or renew or Trusts consult WELCH (Harry S.) Loan Specialist 15th and N. Y. Avenue Main 4346-7351 Quick Repl Reasonable FOR SALE FIRST TRUST s from Vanderbilt, in the | the aling rdus- “era $54,300,000 has been | invested in development of the dis. y 1 lg way 2/0 0,000 MONEY TOLOAN Charges All records for bank clearings were jsmashed by 1922 figures, totaling $1.- 124,592,000, while building set a new | Interest high mark with $7,440,000 during the | year. The Tennessee Coal, Tron and Rail- | operator road Company, the Birmingham eleven of fourteen largest district, blast furn Any Sums Required Amply Secured on New Dwellings Near 14th St. N.W. in'| making iron, supplemented by va known to are operating. Wi Alabama, {ing numbers’ of other corporatio {make a new southern record for its melt and the greatest production ever Approxima twenty-six blast furnaces in the state h another sched to be blown in.by the Alabama com- pany at Gadsden, Februar: EX-DIVIDEND TABLE. January Corn Products Corn Produgts Corn_Products Januars 3-— Refining, Refining. Refining p extra 1. q. Cosden & €0., Quuenenn. . January 5 Pittsburgh Coal....... rgh Coal Pf., . N. Y. Dock pt., &. January 8— International Paper pt., January 10— American Ice, American Ice ‘Df. Commonwealth Powt Du Pont de Nemours del January 11— American Coal, a.. Pittsburgh and Lake Eri January Sterling Products, Union Bag and Paper, January 13— Baltimore and Obio pf British Emp. Steel 1st R. H. Macy pf., COLLEGE PRESIDENT DEAD. David Lodge, president of thelfixxx;:: died this morning at GAFFNEY, S. C., stone College, 5 o'clock of acute a. January indigestion. Thrift Bldg. Co. Union Trust Bldg. Main 768 ately led 7% When investing your savings Firet consider safety. tlien ‘revenue Don’t let a promised flattering return fluence your better julgment and ifice safety. Our record of 15 years in Recommending First Mortgage Investments Without the loss of a_si in_either principal or inter: dissatistied t we e pride. n_Dep: We attend to ate of title, it futerest the day due. details, collect and A Kmited amount in $250 up to $1,000 now on hand Bearing 7' CHAS. D. SAGER 923 15th Street Northwest. He Main 36, Loan Dept. had suffered several attacks recently. ' Withoict a Loss MAIN 2100 Saturday afternoon the Munmotor had righted herself and was able to con- ' tinue on her course to Boston, Attractive Investments for Your Surplus Funds E have a number of individual loans secured on residential property in the best sections of the city for the in- vestment of your surplus fund. First These Mortgages can be purchased on the partial payment plan if desired. B. F. SAUL CO. 1412 EYE ST. N.W. One Dollar or more invited ] JAMES A. MES! President AMIN W. GUY Presiden R BE Initial deposits of FRANK Presi THUR N STRYKER shier Assistant Cashier | REPUBLIC OF CUBA Request of Bids for.a Loan of $50,000,000, in Gold Currency of the United States of America Congress of the Republic having by fawful legislative enactment duly authorized the st of the Republic to issue and se xternal Loan €olc the Republic i E peiiosteny Tnsend ¥ n an amount mot Pursuant to’ such bids will be received b at his Office. in the city of I from 9 to 10 AL for the purc A brief description of the other provisions to be successful bidder with the I set forth in a xecutive Order of the undersigned, copie be obtained at the Saives DnsrGnane 3 x e Cuban Consulates n the cit San Francisco a No bid addressed panied by of Cu Pre 15 hereby given that sealed the Treasury of the Republic, 2th day of Jznuary, 1923, honds irity, sinking contained in the cc se. fund, and maturit to be made of the 1 fied check in the ara s . of Cuba or 4 With good credit. sful bidders will be returned forthwith to the ALFREDO ZAYAS, Secretary of the Treasu President. NOTE referred Washington, o may be also obtained D C The executive order abc 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 [SHANNON- & LUCH 713 14th Street Main 2345 FIRST MORTGAGE NOTES FOoR SALE IN DENOMINATIONS OF SO0 DOLLARS ANED UPWARDS Tanditt S Hogner & %, 1207 %}m:cfi’cflf .%emw | | ‘Bank T hat Xmas Check Safe Deposit Boxes at Very Moderate Rentals Now Serving Over 41,000 Depositors Capital- and Surplus $2,000,000.00 —this Pay Day Along —with Your Regular —Pay Day Deposit ¢ The more liberal you are to your bank account the quicker it will attain-helpful size. Add that Xmas check, or cash gift, to THIS PAY DAY’S usual deposit, and give your nest-egg.an extra lift. Y Whatever their size, your deposits are welcome at this service-giving bapk, whose clientele totals over 4r1,000. 2a% Pending reinvestment, deposit your Dividend Checks and Interest Coupons with this strong old Bank, where they will carn additional interest for YOU. DIRECTORS: Woodbury Blair William D. Hoover | James A. Buchanan Reginald §. Huidekoper | William A. H. ChurchVictor Kauffmann ‘w,.lx‘m ©. Clephane Charles Minshell |t Vo v Frank W. Stone Fredericn - Fenirs Willivm H. Walker H. Prescott Gatley ~Henry K. Willard Large and Small Accounts Earn the Same Rate of Interest OFFICERS: WILLIAM D. HOOVER WOODBURY BL. % K W Officer National Savings & Trust Co. <55 Oldest Savings Depository in Washington Cor. 15th and New York Ave.