Evening Star Newspaper, February 12, 1923, Page 21

i ’ < e SEES END OF GOLD | FLOW TO AMERICA Controller Crissinger Says Stoppage of Metal Import Will Restore Foreign Credit. HALF OF STOCKS IN U. S. Menace of Inflated Currencies Will Soon Cease, He De- clares in Report. America is justified in hoping that in the very near future there will Ye a cessation of imports of gold into this country, and when that point is reached a long step will have been taken toward the restoration of a world economic _equillbrium, Con- troller of the Curr¥ncy Crissinger, de- clares in his annual report, trans- mitted today to Cougress. This na- tion holds virtually cne-half of the world gold stock, he says, describ- ing the situation as “no less unfor- tunate fbr us than it is for other countries to have their stocks 80 badly depleted.” Discussing the steady flow of gold to America's shores, the report de- clares that the “water-saturated yurreney” of many countries now has begun to vield to the inevitable pre sure and the more stable money units of other countries are heing called in and utllized. Mr. Crissinger regards this situation ag “all to the good.” and as proof that “in the gnd the gold standard will be recognized as the safest. soundest and most reliable that fscal and economic wisdom has Yet devised. Economic Balance Needed. The controller warns that thought must be given to future conditions Which may be presented when world &old stocks again are liberated and free to travel about the world In €qualization of {ndustrial and finan- cial requirements, “We have need” he sa our slocks of gold so wel cur credit so sound, our fabric 8o cure, that we will be able to mee these demands without shock or jar to the industrial and business con. cerns of the country. It is becau Wo must look forward to the time When we shall have to return our nt gold holdings to those from 1 il pecent years it has come to us, thay, we must glve thought to the imporyince of having our financial es- l;xhlll-hmen! in order and prepared for the demands which will come to ft. From the purely financlal point of Yiew, the cessation of gold imports Would represent a loug step toward Yw. restoration of that economic equl- ibrium which is absolutely necessary ®S A prerequisite to the re-estab- hmert of sound monetary systems throughout the world. While it Is lrue that the paper money of some unforttinate countries has experienc- ed disaster, it is also true that these Yery disasters have been a lesson to Atatesmen and business men every- Wwhere, and on the whole, have em- phasized in the public mind our de- Dendence upon a sound money svs- tem, based upon gold, and enabling international commodity transactions 10 be conducted in confidence and se- curity. Some of the monetary s tems which have been watered down to the point of complete saturation, have begun to yield to the Inevitable pressure, so that the more stable money units of other countries are being called in and utilized. All this » entirelv to the good, for it testi- fles that in the end the gold standard Wil b recognized as the soundest, safest, and most reliable that fiscal and economic wisdom has yet deviged. There will hardly be serious dis- sent from the proposition that when Focal “and economec balances are finally placed, throughout the world, in the way of ultimate redress, our own country must shoulder a large | Tesponsibility in connection with the re-establishment of sound conditions and relationships. One of the things which then must happen will be the disintregailon, in a considerable part, of that enormous stock of gold which been flowinf to our shores since early in the European war. Huge Stock in U, 8. “We hold now well-nigh half of the monetary gold stock of the world, and ®uch a dleproportionate holding is only less unfortunate for us than it 15 for other countries to have the! xold reserves so badly depleted. W ire now well past that era of crude cconomic thought in which many of s quite sincerely belleve that the Jnore gold a country could wocumu- Jate, the better for It, regardless of every other consideration. We have come to understand that it is equally undesirable for a country to have cither a vastly excessive or an utterly inadequate share of the monetary gold. “Just in proportion as gold is 1tquid, free and safe to move about the world when in the process of cqualizing industrial and financial re- qauirements, so we shall have an ap. 2 proximation to that stability of con—l ditions, that general level of pros- perity and industrial activity which 13 80 greatly to b@ desired.” Turning to a cussion of ques- tions of domestic import, the comp- troller declared that the banking in- Atitutions of the country have made satisfactory progress through the Teriod of “deflation and _liquidation that necessarily followed the war- time exwpansion of credit and infla. tlon. The banking system, he says, lias justified the confidence reposed in it, although there are some diffi- Lult banking questions confronting the country. The most dificult of these, the comptroller reports, have been produced by the depressed con- ditions which characterized agricul. ture in the past few years. The areas where the bad farming conditions have developed _serious banking problems are few and appear only as slight blemish to the whole fabric of economic improvement which the comptroller finds existing In most every section of the nation. There has been a general improve- ment even in agriculture, according to the comptroller, but he notes that betterment in conditions in farming + communities have not quite kept pace with the improvements in other lin. of business and commerce. “To state the matter broadly,” the report goes on, “it may be said that the development of banking cond! tions within the year, and thelr pres cnt status, quite generally and accu- rately reflect the agricultural condi- tions of the country. That is, the greatest {mprovement in banking conditions is found in sections where there has been most improvement in the agricultural, or in those where ihe general business position Is least dependent upon the prosberity and progress of agricultural.” - Sees Continued Prosperity. The banking situation, taken as a! whole. Bowever, is described by the controlier as filled with ‘“cheerful prospect.” He predicts continued im- provemeunt in all phases of agricul- *ture with a consequent greater return in profit to those who supply the raw food products of the nation. Commenting upon conditions. as they have developed since the wa: Mr. Crissinger says that it rather striking commentary on the unwisdom of many of the most trusted economic theories that so many of the'anticipations which were almost universally entertained during the war have proved to be erroneous. He calls attention to the wide b Jof during the war t the restora- e of peace would see a vast Accum- @ ted deficit in the world's shipping Zpacity. This belief, he says, was held partly because of the destruetion of cargo craft duripg hostilities and partly because it was belleved that Qecpleted stores and.empty shelves would constitute a vicuum to which goods would be attracted in all he world. o " he adds, “that 'We Kknow now, ;htnsllfl-h!‘)luflnl were strangely in FINANCIAL. SPOT COTTON DEMAND HEEPSPRICESSTRONG Considerable Irregularity Shown in Week’s Movements—Review of Conditions. By the Associated Press, NEW ORLEANS, La., February 12.— Considerable irregularity was shown by the cotton market last week as the result of the ¢rawing apart of the old and the new crop months, the lat- ter being held down from making a tull response to bullish old crop con- ditions because of the continued fa- vorable weather over the belt. On the close the trading positions were 42 points higher to 13 points lower than the close of the preceding week. At _the highest levels they were 30 to 79 points over the preceding week's close, and at the lowest they were 33 to points under. March traded as low as 27.45, as high as 28.57, and closed at 28.20. In the spot depart- ment prices gained 50 points on mid- dling, which closed at 28.50, against 16.25 on the close of this week last yea The strength of spots was the main sustaining influence of the week, and during the greater part of the time Spots were at a premium over con- tracts. Increasing the effect of a good spot demand and slender offerings were favorable trade accounts and a fairly good business in the cloth mar- kets of this country. At the end of ports of heavy trading in print cloths, Political news from abroad held the market down at times, but. just on the close, was accepted as being more tavorable, HOME TRADE BACK OFMARKET R New Proofs of Industrial and Business Activities Are Brought to Light. By the Associated Press, NEW YORK, February 12.—Optimism over the domestic situati continued to be the dominating factor in the n- clal markets last week. Securities show- ed much strength and the prevaliling impression in Wall street was that the upward movement largely reflected the reports of increased industrial activity and the satisfactory annual financial returris which now are being published. Many Favorable Faetors. Many proofs of active business are able. For one thing. loadings of revenue freight by the railroads con- son of the year. In the week ended January 27, some 871,000 cars of freight were ioaded, this figure cxceeding the totul for the same week a year ago by 131,000 cars and that in the comnarable ‘week of 1920 by 68,000 cars. are distributed, furthermor among the various classes of traffic. thus em- phasizing the general character of the improvement. Reports from the steel continue to Le of particular interest. Pig iron production during J nuary tically twice the tonnage of Janu- ary a year ago and corresponds to a daily rate of 104,000 tons. This is | the highest rate attained since Octo ber, 1920, and compares with the all-time record of 114,000 tons in September, 1918. Interest also was displayed in'the fact that the Steel Corporation's unfilled orders increased 165,000 tons in January, despite the fact that the corporation’s plants are 'now operating approximately 90 per cent of capacity. Steel Demand Surprising. Increase in demand for steel products is so marked that =ome observers are alarmed over its rapidity. As the mills are well booked for several months ahead and consumers are {early delivers still show a tendency to rise. Both Dun's and dices rose slightly. feature of the mov prices Bradstreet's in- The interesting ment was the dis- Farm products reacted after earlier advances, but prices of commodities utilized in industry were generally higher. 1. C. C. PERMITS ST. PAUL commodities. Bailroad to Use Funds in Pur- chase of New Rolling Stock. The Interstate Commerce Com- mission today authorised the Chicago, Mlilwaukee and St. Paul rallroad to assume obligations for payment of $1,636,000 in equipment trust certifi- cates. The funds ralsed by the sale of the securities will go for the pur- chase of new rolling stock. FRENCH REACH MEXICO. Financiers Plan to Open Bank in Mexican Capital. XICO CITY, February 12.— £roun of Frenoh Ansnolers headed [ M. Mercure, have arrived here. It is sald that their visit is in connection with the establishment of a national bank in the capital. STRIKE COST $1,807,990. CHICAGO. February 12.—According to testimony offered at a government hearing held in St. Louis, the shop- men's strike cost the Chicago and Alton railroad $1.907.990. This road paid bonuses of $540.000 to its office employes. and the Wabash rallroad t $179.000 in the same manne error, and that following the indus- trial 'and merchandising boom which for a short time followed the conclu- an slmost shrinkage i going tonna, time of political, economic and finan- cial uncertainty, the different coun- tries have been thrown back upon their own domestic resources to sup- ply their various requirements, to an extent not formerly believed to be possible. There has, of course, been a utterly unanticipated the demand for sea | great shrinkage in consumption, and | therefore in demand: but along with this there has undoubtedly been de- veloped in most countries a deter- mined effort to reduce the require- | ment for imported articles of what- | ever kind, in order to bring the trade balance more nearly to a favorable basis.” Discussing the work of the banking I.y-um further, the controller says it must be admitted that there Is some disappointment in the fact that the federal reserve systgm has not at- tracted to it more of the banking in- stitutions of the country. Without derogating its lendid service,” the controller believes that the work an the functions of the system alwa must be kept in mind and that wise liberality as a continuing policy in dealing ~ with the national banks should be perpetuated to insure the fullest benefits from the banking business s an indubtry. Only such & policy, he says, will assure sufficient strength and substance to enable the federal reserve system to do its work of financial mobllization and eqilibra- tlon. the week. especially, there were re- | Itlnue to set new records for this sea- | “The gains | industry | totaled 3,230,000 tons, which is prac- | made | anxious to enlarge orders and sccure | parity shown by different groups of | TO RAISE $1,536,000! interest and principal of an issue of . sion of peace, there has been instead ! Very plainly, in this' THE EVENING STAR, WAS SLKMAKERS SEE MMORE U.3. FASHIONS Assert French Are Gradually Losing Grip as Sole Orig- inators of New Styles. SPRING FURS ON DISPLAY Fall Overcoat Sales Reported Heavy—Felt Hats to Be Higher Next Fall. BY J. C. ROYLE. Special Dispatch to Tha Star. NEW YORK, February 12.—The news of the world is the dominating factor in the establishment of styles for women. That was the conclusion an- nounced today by representatives of some of the most important sillc man- ufacturers in the United States here for the silk show. It is becoming in- creasingly evident, they declared, that France cannot longer control with un- disputed sway the setting of fashion. The United States is peginning to de- | velop its own fashions, and this tend- ency will probably be even more no- ticeable in the future. “There are all kinds of varfations in fashion,” said Horace B. Cheney of Cheney Brothers, ona of the largest silk firms ‘in this country, “but usually the subject which is uppermost in peo- s minds finds expression in_ their vle of dress. Lowell said: 'To say women do so or won't would be presuming. But during the Balkan wars, for instance, Bulgarian style and design went fairly rampant?’ Handkerchlef Fad Spreads. “In more recent times since the war when Russia has been in the public eye. and very much on the public mind j #nd conscience, Russian art and design have bgen recommended very strongly. During this scason, when Turkey and the near cast have been occupying much space in the public prints, Turk- ish and oriental designs have played an important part in fashion. “One of the most extraordinary freaks of fashion, origin of which T do not know, is in full swing in France, and has been accepted in this country. That f{s the use of handkerchiefs for all kinds of pur- poses. In France they are being used for every conceivable purpose. They are being worn on the twrist, {and made into hats, dresses, blouses and house decorations. They are be- ing worn by both men and women in {the greatest variety of styles and colors.” - Spring Furs Being Shown. Spring furs are now being shown by 8 number of manufacturers, and dealers expect a good season in these articl, Ithough retailers are mak- ing only small purchases until the style trend shall have become more pronounced, The orders received by woolen manufacturers for fall overcoats have been heavy, nd it is expected that many lines.will be withdrawn from {the market beforg March 1. A broad silk demand is growing, acgyrding to manufacturers. who expect to reach {its height within the nextgten davs. Indications today were that the strike here of dress and waist makers' unfons will be adjusted shortly. Hat manufacturers sald today that indications presaged an advance of nearly 25 per cent in the retail prices for felt hats for hext fall. The prices for caps have not yet shown advances, but dealers are watching the trend in those articles closely. :Snow in New England " Still Retards Business Special Dispateh to The Star. # BOSTON, February 12.—If it’ were not for weather conditions, tbe gen- eral business situation in New Eng- | land today would be excellent. The | snowfall, "however, continues heavy, and is interfering to a considerable |extent with the shipment of goods. General trade is more- active than usual at this time of year. Unemployment has disappeared, and the great majority of New England's leading industries are operating on a capacity basis. Indeed, many plants are working overtime, The textile mills have all the orders they can handle, and the testimony of jeading shoe manufacturers is that their business today is better than it has been for a long while. Active | preparations are being made for an- other year of big building programs, and there is a shortage of labor in the building trades. | Japanese to Transfer | Ships Running to U. S. Special Dispatch to The Star. SAN FRANCISCO, February 12.—In- {formation received here today by big ishipping men indicates that the Jap- {anese steamship lines will reduce ma- {terfally the number of vessels operat- |ing betwcen American Pacific ports and {tne Orfent and transfer those vessels ito the European and Australian runs. This determination, it is said, has fol- lowed a demonstration of the ability of American steamships in the trans- ‘F’acxfil: trade to hold their own in pas- senger traffic and even increase their | shate of this business despite the handi- cap which the prohibition ruling was | expected to place on American vessels. It is sald the total number of Japanese ships sailing_from San Francisco, Van- couver and Seattle will be cut in half. (Copyright, 1923.) H Semes ! GRAIN AND PROVISIONS. i | BALTIMORE, February 12 (Spe-| icial).—Potatoes, white, 100 pounds, 50a1.35; 150 pounds. 90al.25; sweet {barrel, 1.35a2.00; bushel, 50a65; yams, Ibarrel, '2.00a2.35; bushel 75al.00 beans, bushel, 3.00a5.00; beets, 100, 0a8.00; brussell sprouts, _quart, a30; cabbage hamper, 2.50a3.01 savoy, bushel, 1.00al.25; carrots, | basket, 40a50; cauliflower, crate, 1.50a 1.76; celery, crate. 1.50a2.50: cucum- bers, crate. 5.00a8.00; eggplants, crate, 4.00a7.00; horseradish, bushel, 3.00a 3.50: kale, barrel, 2.00: lettuce, basket, 1.00a2.25; onions, 100 pounds, 1.50a 3.00; oysterplant: 00, 5.00a7.00; pars- nips, bushel, 1.40a1.50; peas, baske 3.5084.50; peppers, crate, 3.00a5.0 radishes, basket, 50a2.50; spinach bushel, 76a1.00; squash, crate, 3.00a 4,00; fomatoes. crate, 2.00 : tur- | ins, basket, 35a40. " bples, .packed, barrel, 2.50a5 bushel, 7681.50; loose, 100 pounds, 1. 22.0 ket, 50a75; cranberries, bar- rel, $.0012.00; grapefrult. box, 3.00a 3.75: oranges, box. 3.50a4.50: berries, quart. 20a40; tangerines, half strap, 2.50a3.50. —————es ROCK ISLAND TO GET FINAL U. S. PAYMENT { _An order awarding $7,725,578 to the Chicago, Rock Island and Pacific Raflroad was issued by the Inte state Commerce Commission today, closing_ the accounts between the railroad and the government arising out of the guarange of' earnings during the first six months after the termination of federal control. By reason of several advances already made prior to today's settlement, an | actual. payment of only $728,578 in | cash will be all that the treasury needs to make, . I MEXICO DOUBLES DUTIES. Rates of duties on rubber tires im- rted into Mexico will be doubled ‘ebruary 15, according to a telegram from_Assistant Trade Commissioner MacKenzie at Mexico City. The du- ties will be adyanced from 1 to 2 pesos per gross kilo on pneumatic tires and on solid rubber tires from half a ‘peso to 1 peso per gross kilo. both rates being subject t the usuai surtax of 12 per oent of the duties, COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, February 12.—Atlanta dry goods wholesalers today reported the best January in three years. Cot- ton goods are in especlal demand. Re- tailers of women's apparel continue to do satisfactory business, although med's clothing and furnishings are not moving so well. YAKIMA, Wash., February 12.—One or twe small contracts have been closed here for wool on the sheeps’ backs, with 35 to 36 cents & pound the average for heavy shrinkage fleeces and 42 cents for light shrink- IE"Q ‘wools in the Pendleton, Ore., dis- trict. COLUMBIA, Febuary 12—The to- bacco erop of South Carolina last year amounted to 42,586,756 pounds, which was sold at an age price of 20.53 cents a pound, sccording to figures complled here toda: THOMASVILLE, Ga., February 12.— Southern rallroads are heavy pur- chasers of vellow pine, according to reports today from mills in this tion. Extensive repain work is being done on platforms, warehouses and | stations all over the south. 1 PHILADELPHIA, February 12— Manufacturers and distributors of radio apparatus expressed the be- lief today that the broadcasting of sermons by churches will have a stimulating effect on sales of radio apparatus this vear. SEATTLE, February 12.—Egg pro- dur‘Erl do not look today for any relief from the low prices for eggs now obtaining rere until the storage season begins next month. Strictly fresh ranch oggs dropped to 37i cents a dozen. JOPLIN, Mo.. Februray 12.—Zinc ore has been advanced annther dollar a ton to §41 in the tri-state lead and zinc fleld. Lead ore not only ha maintained its recent sharp advance but has been pushed up to $105 a ton. Further price increases are anticl- pated today. CLEVELAND, ~ February chairman of the National Asoc of Purchasing Agents declared today that a survey of coal supplies indi- cated that production would exceed consumption by a good margin this month in spite of increased activity in industrial plants. ST. LOUIS, February 12.—Manu- factorers of electrical §oods report & vigorous demand from buyers today. Production of radio apparatus, how- ever. seems to have moved ahead of demand and dealers are offering goods at most inviting prices. FT. WORTH, February l!—GrlmX Is growing rapidly as a result of re-| cent weather conditions in some sec- tions today. een bugs have made their appearance in son sections but the recent blizzard wl swept the | southwest destroyed most of these| pests. No. 15. Bad debts constitute a considerable ||| in the returns of many tax- | item payers and may be treated in one of | two ways: (1) by a deduction from | income in respect of debts ascertained | to be worthless in whole or in part, or ||| (2) by a deduction from income of an ! addition to a reserve for bad debts. When satisfied that a debt is recov-| erable only in part, the commissioner of internal revenue may allow such a debt to be charged off in part. Partial deductions are allowed with respect to specific debts only. The taxpayer must be able to show with a reasonable degree of certainty the | part that is uncollectible. i Where a taxpayer, as a matter of established business practice, sets up annually a reserve for bad debts, rea- sonable additions to such reserve dur- | ing the year, in the discretion of the | commissioner, may be deducted. In! such case, debts written off on the| books of a taxpayer must be charged | against the reserve, and must not be ! claimed as a deduction from gross fncome unless the debt was outstand- | ing on December 31, 1920. Taxpayers who adopted either of the two methods for the year 1921 must use the same method for the year 1922, unless permission to change | is obtained from the commissioner of | internal revenue. A taxpayer using the reserve method should include in his return | a statement showing the volume of | his charge sales (or other business | transactions) for the year, the per-| centage of such reserve to such amounts, the total amount of notes and accounts recefvable at the begin- ning and end of the taxable year, and | the amount of debts ascertained to be worthless or partially worthless and charged off against tha reserve account during the taxable year. | Bad debts can be deducted only for the year in which they are ascertained to be worthless and charged off the books of the taxpayer. The taxpayer should attach to his return a state- ment showing the propristy of any deduction claimed for a debt. | COTTON MARKET CLOSED. | NEW ORLEANS, February 12.—The ew Orleans cotton and sugar mar- | kets will be closed today, Lincoln's ! birthday enniverstry, and ‘tomorrow, Mardl Gras day. WEEK'S IMPORTS LARGE. BALTIMORE, February 12.—Balti-, more’s last import week was an un- ususlly significant one in both | volume and variety of cargo. The | general cargo movement from Euro- | pean points was heavy and inbound shipments from the Pacific slope and the far east bid fair to make a record period. Some of the week’s more im- ortant totals were. Crude oil, 2! 00 barrels; wood pulp, 27,063 b manganese ore, 3,142 tons; bullion, 5,563 plgs: fertilis bags, muriate of potash, 16,009 bags: nitrate of soda, 66,829 bags; coal, 5.770 tons: chi e ore, 2,000 tons; paper, 2,885 bal I C. C. GIVES APPROVAL. The Interstate Commerce Commis- sion has conditlonally approved the acquisition by the Illinois Central of control of the Chicago, Memphis and Guilf rallroad by lease. The former iready controls the latter through stock ownership. HINGTON, , MONDAY, FEBRUARY 12, 1923. FINANCIAL, e LOCAL WHOLESALE MARKET. Butter prices in the Chicago and Philadelphla markets experieaced | slight advances Saturday. Local dealers have not raised the price however, althoughp the market wa: reported stronger this morning. Very few cggs were left over at the ctlose of the market last week, and there were very few on hand this morning. The market was con- | siderable stronger, owing to small| receipts, but with no increase in priges. Practically no changes were noted in_the meat and produce market: Eggs—Strictly fresh. selected candled, per dozen, 36; average receipts, 35; southern, 35. Cold storage eggs, 27. Live pouliry—Roosters, per 1b., 16; turkeys, per Ib., 35a40; spring chick- ens, per lb., 33ai5; keats, young, each, 60; fowls, each, 26227, Dressed poultry—Fresh-killed spring chickens, per Ib., 35a38; hens, per 28; roosters, per Ib., 17al8; turkey per, ) Jon 40ad5; keats, youns, each, { Live stock—Calves, cholce, per 1b. 14; medium, per Ib., 13a13%: tiin, per Ib.. 6a9. Lambs, cholce, per Ib. 13: live pies. 3.0028.00 each; live ho&®. per Ib., 91, H Green frults—Apples, per bbl, 1.75 | 00; Delicious, No. 1, per bbl., 6.00a | 7.80. California oranges. per c! 5.00a6.00; Florida 4.00a5.50. Lemons, per box, 5.0046.00. Grapefruit, 3.008 4.25. Tangerines, 3.50a4.50. Vegetables—Potatoe 1. 1.50a2.00; per eack, hal.0 Sweet potato: Carolina, 75a1.50; nearby, 2. Lettuce, per crate, southern, 2.00; Romaine lettuce, per crate, 1 Iceberg lettuce, per crate, 3.50a Cabbage, northern, 2.50a3:00 per 100 1br.; nearby cabbage, per bdl. 1.50a2.50; southern, 2.50a3.25 per basket. Eggplants. per crate, 0a5.00. Toma- toes, per Lox, Florida, 2.50a0.50. Beans, 2.0024.00 per basket. Peas, 3.00a5.00 per basket. “Peppers, per crate, Floridi 3.00a4.00. “Kale, per barrel, Spinach, per barrel, 2.00a4.00. crate, Florida, 2.5043.50, Brusutl:' sprouts, 25a30. 'Squash, 2.00a2.50. i ey DAIRY PRODUCTS. BALTIMORE. February 12 (Special). sakive poultry—Turkeys, per pound. | 8a45; old_toms, 32; poor and erooked breasts, 25; young chickens, 30; poor and leghorns, 22a26; winters, 36; old hens, 25a25: small and leghorns, 22a | 24; old roosters, 17; ducks, seese, 17a25: pigeons, pair, guineafowl, 4060, Dressed poultry—Turkey, per pound 38a45: old toms, 32a3 d_rooster: 18: ducks, 25a30; geese, 20a25: capon #7a38; medium, 25a36; small slips, 30a | Eggs (loss of firsts, dozen, Ju; Butter—Creamery, per pound, 46a47 ladles, 36a38; rolls, 34a36; store packed, 82a33; dairy prints, 35a36; process but- )—Native and nearby, southern, 34. First Mortgage Loans Lowest Rates of Interest and Commissiol Prompt Action Thot J. Fish 'y . Thomes 4 Elsher, & Company, Juc Members N. Y. Stock Exchange and Other Exchanges. 11 Wall St., New York Sound Forms Expert and vice On All Investment. Ad- of | the south today. Paanut growers, ‘\Dean, Onativia & Co. | INCOME TAX FACTS. | || i erect new bulldings this year. Build- ing here in the last year was three times as great as in the ylnctdln. yar. LOANS If you have money to e B e P& Mortgages Our CO-OPERATIVE MARKETS | GROWING IN SOUTH Bpecinl Dispatch to The Star. ATLANTA, Februayy 12.—Co-opera- tion is the big word in Georgla and We —have ready for delivery a limited amount of 7% Gilt Edge First Mortgage Investments In Amounts of $250 Up Take Advantage of Thim ‘The opportunity to get your savings invested on a basis of 7% interest is rapldly passing. Chas. D. Sager 923 Fifteenth St. N.W. Main 368 Loan Dept. EQUITABLE Co-Operative Building Association Organised 1879 43d YEAR COMPLETED Assets 84,657,950.50 Sarplus $1,180,880.31 Systematic Saving A plan to make saving easy— Save a little each pay day and you will be surprised at the amount accumulated In a ghort time. Subscriptions for the 84th Issue of Stock Belag Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President PRANK P. REESIDE, Seey. swine growers and syrup producers have all organized co-operative marketing organizations within the last week. All are based on the gen- eral lines of the cotton association, the plgns of which contemplate the direct ‘marketing of 3,000,000 bales of the new crop direct to the con- sumer. _—— MORE BUILDINGS PLANNED. Special Dispatch to The Star. PHILADELPHIA, February 12— ans in preparation today Indicate that many industrial concerns will Getting to the Top | Achieving success, more often than not, is merely being prepared to grasp favorable opportunities. 1 A Savings Account in a strong, help- ful bank, such as this, affords the best preparation for opportunities. One Dollar or more will make you a deposi- tor in OUR SAVINGS DEPT. % Paid on Savings National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St.,, Opposite U. S. Treasury—109 Years Old Organized in 1814 The Three Essentials THE ability, the capacity, the willingness to serve. Those are the three essentials of satisfactory bank- ing service—essentials combined here so thoroughly unobtrusively, yet so unmistakably, that we are able to render what we believe is the highest tvpe of service to our clients. Every Banking Service COMMERCIAL Confidence is the basis of your securities purchases, byt con- fidence results from information we have all the means to pro- vide—records, analysis and re- ports. These facilities are at your service. Use them. WASHINGTON BRANCH Main Floor, Woodward Bldg. Phone Main 2040 Money to Loan Secured by first deed of trust on real estats Prevailiog interest and_commisel | Joseph I Weiler £ Was, L & Tros ! From $100 to $800 os D. C. real estate and household goods or chat- tels. 7 per emmt idterest. No bro. PR Finance Corporation e #1398 150n B, B, $5,000 Life Policy, $43t85 Age 8. Send date of birth for llustration. stablished 1863. ~Assets over $200,000,000. M. LE ROY GOFF 1l Branches * ¥ Bullding. 3. 340, Livermore & Co. Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel Col. 2000 Qut 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 3 % ON SAVINGS TRUST 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 7th and Mass. Ave. 8th and H Sts. N.E. 436 7th St. S.1V. The Safe Six Per Cent & SK your banker what rate of interest is now re- quired from men of responsibility who come to the bank to borrow on their unsecured notes, and then consider what rate of interest these same men should pay when they pledge their real estate in addition to their good name. Our first mortgage loans are made only to men of responsibility, whose credit, as well as property, is of the first order. These loans now bear interest at the rate of six per cent per annum. Swartzell, Rheem &P Hensey Co. 727 15th Street Northwest " Washington, D. C. | 53 Yeurs Without Loss to An Investor