Evening Star Newspaper, March 27, 1923, Page 15

ears Now Felt That the U. S. Has an Overdose of Prosperity: BY HARDEN COLFAX. Is the prosperity of today too sud- #en and is there toc much of it? JYembers of the TFederal Reserve ard, who determine and control the Bnanctal policy of the country, are considering these pertinent questions. New York bankers and bankers from other sections with whom the board recently has been in conference are inclined to confirm certain fears felt here in Washington. It is becoming more and more ap- parent to the board that somebody ought to put the brakes on—gently, f course, so that the passengers von't be unduly jarred, but firmly, | nevertheless. Who is going to do it?| How can it be done without pre- cipitating another period of difficult days? Should the tederal board at- tempt to apply restrictive messurea? | 1¢ so, what measures, and how should they be applied? These problems and a whole tribe of their kin have perplexed the board during the past ten days or so. They are still troubling the masters of our financial destinies. No answer yet has been found; no policy determined. | The pollcy is in-the making as our | runaway markets, stock and com-| modity, gather speed and the entire eastern seaboard flings itself g.lyly" EX-DRY CHIEF HELD | ON PERMIT CHARGE'! Alleged to Have Paid Prohibition Agents $200 to Sign Order for Liquor. By the Associated Press. NEW YORK, March 27.—Former Assistant United States Attorney E. Paul Yaselli, now a practicing law- ver, was arrested at prohibition head- quarters when he was alleged to have Passed a bribe of $200 to Prohibition Agents Joseph King and Edward Crabb for the purpose of getting them to approve a permit for the ithdrawal of liquor. he permit would have permitted Temoval by the Paramount Drug Cor- poration of a number of barrels of denatured alcohol. At tne Federal bullding Yaselll stated that for the last ten days he had trouble with Prohibition forces while working in he interest of his clients, including the Paramount concern Moden Barbers _Supply These concerns, he said, wished to withdraw alcohol for business and moy beverage purposes. e further stated that the prohibi- tion men rafused to approve the per- mits unless they were pald money and that after giving the money to King and Crabb he told them he in- tended to complain about them. Then, Jaselll sald, they turned the tables on m. and the Company. A Little Goes Long Way Other motorists | during the past two or three weeks; into another giddy whirl of specula- tion, rivaling the saturnalla of our war-time boom. Must Think of Future, Members of the board are a bit apprehensive. They fear that: the men swinging some of the gigantic operations of capital are thinking wholly of today and not at all of tomorrow. ‘The board is considering mainly the farmer as the weak link in the chain. Reports of the farmer's finan- clal condition, buying power and prospects have been gathered by the dozen and bolled down by the board's statisticians and economists. These reports show that the farmer has falled to recover from his depression to the extent that non-agricultural actlvities have recovered Ultimately, the writer is informed authoritatively, the board belicves these industrial booms will have to depend upon the farmer and his buying power for their continuance. At present our industrial activity is supported by the citles and industrial centers. When it gets to the farmer, the farmer will not be there to sup- port it. by the text and substance of all the reports the board has been able to gather. And when that time comes, the board belleves, our {industrial ac- tivity will slow down. The siowing~ down process may be gradual, or it may be rapid. The board is hoping that it will be gradual. The gyrations in the stock market the pyramiding of building values and the manner of financing new con- struction; the speculation in sugar and cotton; the impetuous rise in values of iron. steel, copper. lead, zine and a whole train of minor com- | modities within the past few months | all these are giving the federal re- serve board a Knotty problem to un- ravel. Banks Glutted With Money. | Will the federal reserve banks | boost again their rediscount rates and thus make money dearer to the speculators? The board offi y is silent as to its future course. lurgely because that course is still unde- termined. However, it raised the rate at New York and Boston not long ago | according to their reports to the fed- eral reserve board and other official agencles, to feel greatly at the pres- ent time another rise im rediscount rates. Speculation apparently can be financed without recou: rectly to the federal reserve banks. The moneyed {nstitutions do mpt have ;3 £0 to the federal reserve' banks ' funds, as they did tn 1919 and 1920; [they have the funds: them and ‘those funds are ldlé b: dreds of milllons and actively seeking employment. Working Out a Program. . he policy of the reserve board that 4s-in the.making is-expected to be- come manifest within the next thirty days. It may be delayed somnewhat There IS a Butter. Grove Butter from \—Distributors - “The Golden Spread for The Daily Bread” in an effort to head off speculation and the effort failed. Tt is doubtful, if it would succeed now. The banks have too much money, ! Delivers a Top Icer beyond its expected time bocsuse of the sudden death last Thursday of one 1 continue to hold ough. the Senate confirmed his nom- nation as ‘governor of the reserve ‘board, until ‘a_successor is named for his present office. Meantime, the crippled board con- tinues collecting information and its analysis of conditions, with & view ultimately to taking becom! to curb, what, in its opinion, strong tendency toward perfod of depression. Difference Not mere freshness, quality, purity and sani- tation' go into ‘thé popularity of Elk Grove It is the consistent sweet taste which has caused o many butter-users to call for this delight when ordering groceries. Surprise the family todny by ordering Elk your grocer. GOLDEN&Co it down, al-f D. C, TUESDAY, MARCH. 27, 193 Woodward & Lothrop Open 9:15 A.M. 10th, 11th, F and G Streets Close 6 P.M. Getting the Home Ready for Easter and Easter Friends and Guests Can you offer your friends who are coming for Easter the hospitality that they expect, or must they seek accommodations elsewhere? The unexpected guest or week-end visitor may be cared for splendidly if your living room is furnished with a modern bed davenport or extension day bed. Their twofold purpose, service as a davenport and as a double bed, is admirably concealed by their clever construction. They can be changed easily and quickly from one use to the other by women or even children, so easily do they operate. In dull brown, mahogany finish, with cushion covering in tapestry or velour, they are roomy, inviting and very practical.* The bed davenport is completely furnished with two extra pillows and has a soft cushion which forms the mattress when used as a bed. When extended, ample sleeping space for two persons is provided. Full double bed width, 54 inches, and full 74 inches in length. The mattress rests on a fine coil spring base composed of 130 coils, 65 for each person. The day beds are of similar construction, and are fitted with bolster roll or one pillow. Extension Day Beds Overstuffed design without pillow, Day Bed in plain blue and plain brown ve- A handsome bed in figured taupe velour, lour. $115. sus. = Bed Davenports Another design has spindle head and i drion spindle and cane panel de- ;‘;3‘03 tapestry or plain taupe velour. sign, in tapestry or plain taupe velour. Cane End Extension $150. figured taupe velour. Cane Panel Style Bed Davenport 1n plain brown, figured mulberry or $160. A large new shipment of these pieces has just been received and as they are in great demand we urge early selection Furaiture Section, Sixtd fioor. Needlepoint Embroidery The vogue for needlepoint brings from France an exquisite collection of real needlepoint chair and cushion covers. It portrays the periods of Louis XIII, Louis XIV, Louis XV—also Regence and Verdure designs. Hosanna!—In French In French The Haly City Stabat In Latin Some of the artistic and decorative pieces are en- tirely worked—others have just been begun, so that you may finish them—and still others show merely the shadow of the design—to be worked. The making of needlepoint is the very newest fashion in needlework—prominent women have made it a decided drawing room fashion—and it Victor Records for Easter Messe Solennelle—Crucifixus, No. Stze price 87335 10 $1.25 88403 12 $1.75 $1.75 $2.00 $1.75 $2.00 $1.25 $1.25 $1.75 Caruso Caruso Les Rameaux—(The Palms) Caruso 88459 89054 74041 12 The Crucifix—In French Caruso-Journet De ater—Quis est Homo, Gluck-Homer Christ, the Lord, is Risen Today 12 12 gorza 89098 87354 66122 Homer Jesus, My Lord, My God, My All cCormack Messiah—Comfort Ye, My People Williams 74190 Messiah—The Trumpet Shall Sound ‘Witherspoon Christ Arose = Shannon Quartet g Refrigerator With a 70-1b. ice capacity—for The PHILLIP LEVY Refrigerator Glub is will be a furnishing fashion in decorating that will make its influence felt on even moderately priced furniture. Needlepoint Pieces, $7.50 to $135. Art Needlework Section, Second floor. have said it; you'll say it, too! For Ebonite is different from anything you have ever used. Ebonite clings to your gears 74080 $1.75 75¢ $29.50 1 open to every family, and now that you. can own a first-class Refrigerator and pay for-it as you use it— Beautiful Isle of Somewhere: 16008 Hosanna | is J ; Holy Night Lewis James Victrola Galleries, Fourth Seor. 16060 75¢c everv home should own one. the year around. It never runs thin. Heat does not break it up,, Cold does not congeal it. Ebonite is the highest type of shredded oil. It flows into every moving part. It cush- ions the teeth of the gears qnud takes out the extra play and the grind. It completely buries the gears in its rich adhesive mass, which pre- vents friction. A little goes a long way. One filling of the transmis- sion and differential case is 2nough for all season. —Sold by reliable dealers in five-pound cans, and at ap- pointed service stations where you see the checker-board design pump. .EBONITE (1t’s Shredded Oil) Per Trensmissions and DiNerentials IR for buoyance and speed, the All-Weather Tread for traction and wear, and Goodyear patented thousands of miles— there’s the Goodyear Cord Truck Tire. Itisomeafthe comploteline b o s ot Mid-Washington Service Co. 1602 Lth St. NW. can buy it here on the original Phillip Levy Club you to own the finest kind of weekly payments so often asked. Why it costs less to own a Crystal Belding Hall P.L .Refrigerator The small first payment on our ciub plan delvers a refrigerator that saves many dollars in fos food, and perhaps & big biils, doctor bfil The natfonlly advertised makes {noluded ‘dry-celd” air circulatew in food chamberw. No_matter what size Refrigerator you need— 3 Plan—a plan that enables a Refrigerator without paying the usmal large Buying refrigerators as we do—carloads at a time—for our 18 big stores—it goes with- out saying that we do buy for less—much less —than the small one-store merchant—and, buying for less, we can, of course, sell for less. Come in now—select the size Refrigerator you need, and pay for it on or o . 50° 60° 70° ‘Week 3rd Week o Week all The patented insulation within the extra walls makes it impos- sible for the cold air to escape. 80° Week This is only one of the many Teasons why refrigerators shown here are tested and approved by Bousekeeping institutes. n Ening casily cleaned—no cracks for @ or germs to lurk in. Finally, Phillip Levy's 35 aceumulated thought an ears *bou on lay. Whether Judg- Tmont and_ wholesale buytn js it into” every Tefrigerator you pay spot cash or pay while using it— 90° ’lfl Week T Week Bth Week Sth ° Week 8§00 10th Week .l“ Tith Week ll-‘ is trt '1.. of either way—YOU get our iron- olad guarantee. Trade in Your Old Refrigerator Your old refrigerator accepted as part - ;;ymnnz on a brand-new one hers at {llip Levy's. in large ref .l-fl 13th Week 'l‘. eth e .l.l. 18th Week .1.!0 10th Week 1® 17 'l.‘l f;' .1-10 ll‘: $1.15 19th © O Week .ld‘ 00 Week lijfl Zint Week $1].00 22na Week i 8]0 3«; this Club Plan. Buy Your Refrigerator on This " Phillip Levy Club Plan— e 85 80° =% 75 Ya 70° ‘5. Olm £y L) ‘Woeel Siwt Week BInd Week 23ra Weels 294 50° Out-of-Town Folks— Write for prices and terms, as well as Refrigerator Catalogue We lpe&n frige: ‘We Pay the Freight. 735 Seventh St.NW —~BetweenG&H. WASHINGTON, D. C, Fine Axminster Rugs---a Genuine Economy A new spring shipment of high-grade seamless Axminster rugs of excep- tionally fine quality; deep pile, beautifully finished and will give the most satisfactory service. Exquisite patternsand colorings, many of which are copies of fine Persian and Chinese rugs. Also many in artistic plain colors. At Very Moderate Prices vevesss... $67.50 and $57.50 . $57.50 and $52.50 ... $36.75 and $32.50 . $19.50 and $16.75 . $9.75 and $8.75 27x54 ......0..00.. $5.75 and $5.00 22%4%36 ..covcecerracecscscce $3.75 n 12x15 (Extra Large) ......w.. $130 Hall Runners 3 27x9, $13.50 to 3x12, $25 Beautiful Floors with Armstrong’sLinoleum ---and Prices are Extremely Reasonable You can get a pattern and colo}ing in Armstrong’s Linoleum for any place in the home—beautiful effects at small cost. Inset Tile Patterns, yard.......,.$3.25 Parquetry Patterns, yard,.$2.50 to $2.75 Inlaid Tile Patterns, yard..$1.50 to $2.50 Phain A Brown, yard...,....,..,.$1.85 Phin A Battleship, yard.,.$2.50 and $3 Rug Bection, Sixfh floor. aspe Inlaid, yard $2.25 to $2.50 ted Linoleum, yard.....85c and $1 Inlaid Rugs, 9x12, each ...$28.50 Printed Rugs, 6x9 and 9x12, each .. vesvees. . $9 to $18.50 Bird Cages---Bird Houses Attractive little homes for these pets—whether in- doors or out. Square Solid Brass Bird Cages, with sliding drawer zmi‘:nre cloth seed guard at- tached. $18 5 Dome Cages of brass, with: opal shell cup and removable avel pan. 1 cy White For Easter Gifts “Bernie” Prints— Pramed Pictures Exceptional Value, $1.50 Any one who loves and appre- ciates the beauty and colorings of woo hzds. mountains, water scenes and landscapes will ap- preciate these artistic hand- colored reproductions of lovely things in nature. : ‘:‘E:éfl!’efl?i:: -f:a ch 46 Plcture Ssction, Wifth floor. Round Bright Brass Bird $13.75. s, 5 Japanned Cages for mock- ingdqun white enawm;; kr.i:xd- med in green. gfiu.‘ C ’ Stand. N loor Cage Stands, in pol- Enameled - ished or dull brass. $6 to $15. Ruteqsc Cedar Bird Houses, in ant and artistic designs. gami. " st signs. For Easter Flowers Artistic Colored Glass Flow- er Bowls, 85c to $3.95. Glass Flower Holders, varied sizes, 25c to $L28. Clear Crystal Glass Vases, in artistic shapes for long or short stem flowers, 35¢ to $3. Richly Cut Glass Vases, in many beautiful patterns, $L.75 to $29.50. in Pollc? Jardinieres, delight- fully decorated and in many shapes and colorings. 45c to $9. Willo-ware Hanging Bas- kets, with metal linings, add a decorative note. $1.95 and Willow Biskets for cut flow- ers, $1.25 to $4.50. Willo-Wall Baskets are de- lightful new. novelties, $1 to $2.75. Handled Baskets, in artistic shagsg for potted plants. $2 to . & Basket Bac- on Hittn Toor, ™ o