Evening Star Newspaper, April 13, 1923, Page 27

FINANCIAL DIVORCE SUIT BRINGS CHARGES OF PERJURY Arthur I. Gagrdsmoe and his broth. er, Harold L. Gaardsmoe, were ar- Fested here yesterday afternoon by De- tectives O'Brien and Livingston to @nswer. an indictment in Alexandria, Va., charging them with perjury. . Commonweakh's Attorney Willlam P. Woolls stated in Alexandria this ®fternoon that the necessary requisi- tion papers will be forwarded to Gov. E. Lee Trinkle. Arthur 1. Gaardsmoe, ‘on October 21, 1922, obtained a ‘final decree for divorce from his wife, Elizabeth J. Gaardsmoe, in the corporation court. in Alexandria. It is alleged In the indictment preferred against Arthur 1. Gaardsmoe that he made false af- fidavit in regard td his residence in that city. It is further alleged that when he was supposed to have resided In Alex- andria ha actually resided in Washing. ton, D. G, and part of the time in Glen Echo, Md. o In' the indictment returned inst Harold L. Gaardsmoe it s alleged that he-also made false afdavits as to: the residence of Arthur I. Gaardsmoe. Mrs. Elizabeth J. Gaardsmoe, from mhom Arthur I. Gaardsmoe, obtained the divorce, iy now a patient.in Elizabeth’s Hospital. against the two men also indicted Wil- llam Harrison of Alexandria, alléging perjury in connection with the residence: of Arthur 1. Gaardsmoe In AlexanAri £ R0 i NORTHWEST BARGAINS $1,000 Cash—Monthly Payments 5719 to 5727 13th St. N.W. (Just North of Where 14th Street Cars Stop) . 8 ROOMS AND ATTIC All houses have outlets for sink and gas range on second floor 30 you can easily rent second floor for enough to make monthly payments. HOMESFOR SALE HR HOWENSTEIN i | DEAD; BODY HIDDEN The jury. that returned indi¢tmients | THE EVENING STAR, WASHINGTOI;T‘ D. C. FRIDAY, BELIEVE KING DAVID By the Astociated Press. LANSING, Mich., April 13.-~Rumors that Benjamin Purnell, missing lead- er of the Israelite House of David, is dead; and' that his body has been o creted in an underground tomb at Benton Harbor by his lieutenants in order that hig clalm to immortality 4y not be exploded, probably will Be investigated by state officlals. The rumor is the latest to be ad- vanced as explaining the possible whereabouts “of the oult ‘leader. It based on 'two. things—a strange story of & subterranean chamber be- neath the House of. Shiloh, Purnell's official ‘residence, and upon the faith of his followers that he is immortal Purnell last was seen by those ' closely associated with him at Chirst- mas time last year, according to their statements He. was_ {ll and an- nounced he was golng away for a st. The latest rumor is to the effead that he died and that a tomb was fashioned by his lieutenants in the underground passageway and his body hidden. Knowledge that Pur. nell had died, it is explained, would have destroyed the rock on which the cult is built. Purnell s kndwn to have been an old man. A witness in a recent suit against the colony at Grand Rapids testified the leader used halr dye. Although intimating they probably jwould investigate the latest report, state officials still clun to their be- lief today that Purnell ad fled, The Blackfeet tribe of Indians numbered 3.000 a generation 280, but \now total less than 1.000. Ei}NJ or . Hard Service In the ordinary course of events, your floors and woodwork aressubjected to a’rig- orous and heavy wear and tear. Therefore, in painting you should protect those surfaces with an enduring paint. Save it “:ith Kyanize Motor Car Enamels flow with ease, level out to ridgeless smoothness and 'dry with a rich lustre that is absolutely waterproof, Begin with a clean surface, apply as instructions provide. Keep dust away, and your car takes on added youth and beauty: §afislacfionl We guarantee it, or money back for the empty can.” FREE -TO MOTORISTS Our booklet;: “How to Paint Your ‘Automobile’t..with complete instruc- tions, will be given free of charge to ny motorist who will call for it at e A a1 the store of any of the gealers lisi below. Get your copy, 's FREE. z today—il i Manufactured b¥' BOSTON VARNISH COMPANY Everctt Station, Boston 49, Mass. > ‘Wholesgle Distributors. CHAS. BECKER PAINT COMPANY, Inc. 1239 Wisconsin Ave. N.W. WASHINGTON DEALERS R M. BROWN, 1252 7th St. NW. | FRED M. HAAS, 006 R. L Av ARNOLD L. BURD, 1534 N. Capitol .‘imn.mgfii BRos. 602 1 8¢ N . B. NES, t! t. N.W. O I R RENEREANS 3124 11th St ¥ E. RICHARDSON, 2212 i4th St. N.W. 1A HARDWARE CO., 3419 | A. E. ROBERTS, 1406 P St. N.W. c‘g‘sgm N.W. . ISADORE SMALL, 713 7th S8t. N.W. A. DENCKAS & SON, 3610 Ga. Ave. |F. STEWART, H and 1st Sts. N.W, LW W & BROS. 11th | A RaTAAOR. & BRQ., 10th and . EARNSHA' . a 8 S.W. B C. ‘B, THOMPSON, 3413 Ga. Ave . S.E. EE%.&BEBMHON!. 207 Pa. Ave. SE. N.W. E \\'sAt"l'lgevl‘d WHITNEY, 1410 14th 0, R. GILL, 642 Pa. Avi ¥ S OLDSTEIN, 903-05 H St. N.E. SUBURBAN DEALERS" ANACOSTIA, J. Frank Campbell - |conNGHESS HEIGHTS, S. M. Filllus CHEVY GHASE, Chevy Chase Sup-| L0l T & vaon MARYLAND DEALERS ' ply Co. BETHESDA, Altred Wilson ’g(oal_ml\m.w. J. W. Bowling & BLADENSBURG, Hyman Brown, . | qECHANICSVILLE, E. Price & Co, VIRGINIA‘DEALERS! HURCH, W. N. Lynch . |LEESBURG, Norris Bros. Fl:‘i‘i:fr%l. G."}“. Schooley IMANA AS, W. G. Wagener To Dealers In Towns Where There Are No KYANIZE ts no ;{YANIZ.RI M:nto the -KYANIZH genc rOPO! lon: 18, today ?or full particul in y‘:qu-:: i 0 1o, Y ) ars—Boston:” S - Exolu! ‘distributors Our practical paint experts are always on hand to consult and advise asto the amount and kind of paint to buy. If your floors need varnishing, we will be glad to show you how to save money by buy- ing your varnish care- We carry a_complete line of PRATT & LAMBERT and A C M E QUALITY Paints, Varnishes and Enamels. All of the late Bruns- wick records, released daily, are in our stock, including those adver- tised on the opposite page today. Come and hear them. Just Received Large Shipment of “Runnin’ Wild” Sung by Marion Harris and “Lovin’ Sam” Sung by Margaret Young Visit our Phonograph Department and hear the new releases. Open a record account. From the Bdition of Yesterday's Star. MRS. RICHARDS NOT T0 LOSE POSITION, 1 22 2855 Labor - Bepartmert OMoial, | o e s i However, Suggests Suspen- | movements & sion as Punishment. BY WILLIAM ¥, HEFFERNAN. NEW YORK; April. 13.—The curb market was decidedly firmer today, with outside participation on the buy- ing side more pronounced than in any ents here ‘were on the side of ince, ‘but a good part was off- st in the afternoon. Standard of Indikna and Gulf Oll of Pennsylvania, which have moved in unison since the circulation of reports The order dismissing Mrs. Jesta M. {f:::""{.:: :‘:3.:fl;=l ""'{.‘ r';;‘“‘l‘{ Richards, manager of the X-¥ bulld- | 008, ™eoo under way whereby the Ing of the government hotels, should |over by. the Indiana company on the “be withdrawn and a suspension ors s o fow,_share,-reached 64 dered for a briet period,” Theodors | 0d8Y. despite pefsistent: denials of tl b; G. Risley, solicitor of the Department h:l‘:r:n;piob:u lez ":;‘eflerl:dul(rllll in of Labor, decided yesterday following | point of activity, advancing well over the controversy. ports that a new well in the Moran The dismissal Mr. Risley found to |shxliow’ fleld had boen brousht in, - OVAa! 'an: ap -made be “a punishment too harsh under | FEFY} CARSCIEn ade high with the circumstances.” He found, hoW- | of the first half session,. while South- ever, that her conduct “warrants some disciplinary action,” and there- fore recommended wWIthdrawal of | 1aun SmEllat b bonas thg e the dismissal order and suspension of | traded in on the New York Curb Mar- Mrs. Richards for a brief period. ket today: Make Statement Publie. Salexin A_statement made public_yesterday by Mr. Risley explains his findings. as The more {mportant movem the adva: BONDS. Low. 2:45. 81 e “After a careful consideration of the evidence adduced at the hearing in the case arising out of the disml: of Mrs. Jesta M. Richards of the g0 ernment hotels, operating under the Housing Corporation, the solicitor finds that of approximately eighteen counts the majority were not of a serious nature and involved no in- fraction of regulations. Many arose from differences of opinion on matters of policy and lacked the element of insubordination. On one count only was deliberate insubordination proven prior to dis- missal. At times Mrs. Richards failed to show a proper appreciation of the necessity of enforcing the rules and regulations of the management be- cause of a reluctance to incur the displeasure of the guests. - Granted Out of Fairness. “The solicitor is of the opinion that this hearing was granted not as a matter of right, but from a sense of and is not to be considered 223232858 x . FE FFERF EAFRETES . Robt Ts. 17 Gulf Oll of Py 11 Heod Rubber 7 2 4 Kennecott Cop 1‘: xfi""h’ McNell & racaibo Ol 7s '25.210 18 Morris 101 235 &F manager to discharge any officer or employe working under her direction is unquestioned, it is felt that dismissal 18 2 punishment too harsh under the cir- cumstances. The conduct of Mrs, Richards warrants some disciplinary a tion, recommended, therefore, that the order of dismissal be withdrawn and a suspension ordered for a brief period.’ STREET BATTLE ENDS IN DEATH OF NEGRO Howard Townsend Shot Down and Charles Tolbert Gave Him- self Up. FELETET S 233333535 FERET 2R Wayne Coal-6s . FOREIGN BONDS. 6 Argentina 80 King of 2 Mexican s Gvot cfs 5! b 2 Russ Gort 6lew :fil' lif': 1 Bwiss Govt 5w .. J02% - TU 8 of Mexico 4s.. 41 Sales 1o _units. STANDARD OIL ISSUES. o 2Buszss ERFEREE 1 121 112 ] % 6815 384 . 357 = oil . A battle between two colored men, | 1100 Hum il & Re mew armed with revolvers, in front of 1226 | ghe Intery por co'L 634 street northwest, late yesterday aft- ternoon resulted in the death of one and for a time endangered the lives of a score of other persans who were on the thoroughfare. The dead man 1s Howard Townsend. colored, of 1226 6l street. Charles Tolbert, allas “Bluck Ike” who Is accused of the shooting, iater gave himself up at the second police station. - According to \wiinesses, Townsend ‘and Tolbert became en- gaged in an argument over & gambling debt. Tolbert is sald to have drawn a pistol and to have chased Townsend from 1223 63 street to the street and there fired at him seven times, five of the bullets taking effect. The man died®instantly. |DANCES 52 HOURS FOR NEW RECORD CLEVELAND, Ohio, April 13.—Miss Helene Mayer, twenty-one, Cleveland department store saleswoman, yesterday established a new continuous dancing record of 52 hours and 16 minutes, breaking the previous record of 50 hours and 2 minutes made by Miss Alma Cummings at New York last Monday. Miss Maver started dancing at 9:35 a.m. Tuesday and quit at 1:51 p.m. yesterday. 5 Dr. Charles Walsh, who sxamihed Miss Mayer after she had decided to quit, found her legs and arms badly swoilen and her pulss 88. Dr. Walsh said she could probably have contin- ued dancing for four or five hours more before being forced to quit. o 50 Maguolia Pet 100 Ohlo 01l 120 Prairle Oil & 100 Penn Mex Fuel 270 Prairfe P L 30 Solar " Refin South Pena OIl 20000 8 0 Ind ......... 100 § 0 Kansas new F008 0 Ky 1. 2000 S 0 N T new 3300 Vacuum Ol new. Sales in hundreds. INDEPENDENT OIL S8TOCKS. 30 Big In 1 Cardinal Pet. 27 Carib Synd 2 City- Service 1 City Service 3 City Serv fd.. Pl 2 Columbia Bl Harris Cons 50 Hudson Oil 3 Humphreys 2 Independent O 140 Keystone Ranger 13 Kirby Pet ... lg Eh.mu ol . vingston Pet 8 Marland 8 Mexican Painco 20 Midwest.Tex 0il 24 Mountain Pred. =% ks, P 5. o { TAXIS AND TOURING CARS Main 430 LOWER RATES FFEF R PEEFEFE, 33 B;;‘s;’amuagb-.; Tt YT T W) t IFSFEF FEEE Eyes Ezamined Dr. CLAUDE §. SEMONES Eyuliuht Specialist 10th s0d .G Sts, AH.W. Phope ‘Main 73}, Graduste i Medical L3352 | 90 R 12 Chi Steel Wheel 1 Cleveland Motor. ¥ Oleveland Mot pf Columbia G & E nw 36 10 Columbia Car vot cf 1 Cuyamel Fruft . 1D L& W Coal ... 13 Douglas Perfection. 48 Durant Motor ..... 8 Durant Mot of Tnd. 2 East Steel Castings 4 Gardner Motor ... 5 Gillette Safety Raz 200 8 Glen Alden Coal ... 6T 12 Goodvear Tire 1 Hanna M A 7 2 Heyden Chem 3 o, A28 B REEER FAFRE “The King of Lubricants” 'REXOLINE MOTOR OILS Same Lubrication at Working Temperature SHERWOOD BROTHERS, Inc. Phone Lincoin 7558 12382380 n B0t FEELY .2xaBzsnas W R AR REFEE FEFR FIER 4 1 To! t Fiver Corp. 6% AT i ... 69% dvale 4 Mercer 1 Mer Mot cf Motor 1.1 Rts wi P TN T T P Reputation, i With a good mame at stake you can rest as- sured that Plumbing work intrusted to us will al- lways be well dosie. f Every ..job, ~whether it be a NEW installation or one of REPAIRS, must conform to those high standards for which Col- name stands CHEVROLET For Economical Transportation” Immediate Deliveries . i All Models S. and G. Motor Co. Phone for Demonstration West 3138 1258 Wisconsin Ave. N.W. _APRIL 13, 1923 NEW YORK CURB MARKET Recsived by Private Wire Direct to The Star Office. ern States was another that.was ac- tive and higher. A feature of the trading was ans other sharp run up of over & pginis in Schulfe bifdre. selling was..eh-, countered. S8hortly after nHdday it was "’“’A‘"“" that directors had de- clared a dividend amounting to §8 in per cent preferred stock to the common holders. The dividend will be payable. in_quarterly instaliments, une tive revilal of interest of Uteh Apex Mining is the sequel to the company's victory over Utah Con- solidated in a sujt finally passed upon by the United 'Sfates Supreme Court in February. Under the decision Utah Apex has received over-§1,350,000 in cash and ‘has got back-a valuable property which was" {rr dispute, the quisition -of which 18" expected.ta add much/to..the.company’s esrning. power. _ It now, hax 31,800,000 cash. in’| the treasury. js.{ree from .debt and with lead “its principal product at present, prices is in a position to pay. a good-sized dividend. - Operations for the rise coritinued in.| Dubilier Radio, while renewed ac- tivity broke out in .Durant of Dela- ware. Gillette Safety made a mnew top over 3 point e Ba 2z 4 fits Sfotor a2 5 3% Tobacco Prod Expts ~ 0% Un Pft Shar mew.. 8 Un_Retail Candy. 8 Lt & Heat 1% 8 Lt & Heat ptd 1% U § Distribut 2315 wamriSonadBoe! voanaBon 4 Alaska Brit-Colo. ‘ 176 Arizona Globe Cop. .59 10 Belcher Extens K 2 Mining . 47 Butte & Westera. L Calaveras Copper ario r 210 Candelaria Mia 2 40 Columbla Emeraid. 10 Continenta) Mines - "on n tem o1 Corte Silver EE3 By £33 E2uBuaBEuenRBEY £ 12 Dryden Gold 100 Eureka Cro 90 Fortuna Mines 30 Goldfield Develop .. . 120 Goldfield Deep Mine 110 Goldfleld Florence STRERBNBIZBLBucd v _Stige ... 10 Homesteke - Ext 5 Howe Sound 60 Independence 40 Iron Dlossom . 2 Jerome Devel 4 Jib Mipe . 10 Knox Divide 0 Lone Star ..00110 [ Mining of Canada. sh. Mines a3 20 Mammoth D 80 McNam Cres De £4- Mohi nion C Y Porcupine . xon Nevada Nipissing . Ohio Copper . : Ray Hercules ine. 111 Florence . Salida Mines B 5 8t Anthouy Gid Ma torm” Kendall. So Am 140 Spearhiead 10" Steward 5 3 25250t 3] g 28 Tonopah Extens 3 Tonopah Min . 10 Tuolumoe . 49 Takied Fanicrn [0t 4 United Imper] i 10 Vaited Verae Bxcr. 38 20 U S Contivental 5 Tnity Gold 49 Utah Apex . 52 West End-C 90 West End Ext . 4 Tukon Alas tr cf 33 Yukon Gald EXPORTS FROM U. S. SHOW BIG GAINS Commerce Department Also Gives Out Figures for Gold and Silver. B s.wi:.g'x_;,.,g Hge..¢ e Exports from the United States during March were valued at. 335! 000,000 in a preliminary estimate to- day by the Cqmmema Department. The total compares with $307,106,350 for February and $329,979,817 for March, 1922. ., For the nine months ending with March total exports of the United States were $3.003,819,728, or 3193, 18,395 In excess of the exports dur- ing the ‘corresponding nine months \ending with March, 1922. « {During March there was a net im- Port of gold of $5,559,257, the depart- | ment reported. whioh com: with $82.624,893 for March, 19 While the total gold imports°during March, 1923, amounted to $15,951.35%, there wero gold exports of $10,492,160; The gold inflow, which has- fuptuated markedly during_ the last two.yéars, Gontinued to ‘show the . deelning ‘téndency which officials and flnencial gircles have announced could bé ex- ected. The gold exports during ~March have only been exceeded by the ex- | ports “of one other manth in _the period running back to July, 1931. There was an excess of siiver ex- ports over imports during March, 1823, amounting to $105.329, the de- partment added, total silyer exports being $4.731,705, while imports were $4.626,376. It is expected that detail ed analysis of the merchandise ex- ports of March: together with cor- rected totals, will be given out shortly. VAN SWERINGEN RAIL MERGER COMPLETED “COLUMBUS, Ohlo, April 13.—Con- solidation of five middle western rail- roads under the direction of the Van Sweringen interests of Cleveland, was gMiclally consummated here yester- day, when incorporation papers for the consolidated ro#d,” which will be known as the New, York, Chicago and €t. Louls, were flled with the secre- tary of state. \ g {lroads which under the merger are brought together ‘into one system are the New York, o and St Louis, Chicago and State Line, Lake Erie and Western, Fort Wayne, Cin- ¢Innati and Louisville and the Toledo, 8t. Louis and Western. .“The Van Swetlng.nl recently gained eontrol of the Chesapeake lntf Ohio railroad, which gives them a large =mount of additional mileage. — ‘WILL BUILD NEW MILL. GASTONIA, C., April 13—The Art Cloth Mills, Ino, will erect a new shm of 750 looms for the finishing, lyelng ‘and weaving of fine cotton and mercerized goods, it was announced here today. In connection with these additions the concern, which was or- ganized some months ago, crease its capltal 'sotok from $200,000 to $1,500,000, R L of the Stowe company. ) 7! {ola FINANCI Washington Stock Exchange | wng 8ALES, %eulu;’.u Potomac 1st 5s—$1,000 st &7, o ‘ashington Rwy. & Elec. 45—$500 at 71%. S ion Markal Compeay—10"at 39, 10 arket Company—! 3 80 1080 80, 20 8t S0 T b i AFTER CALL a B t 9834, Oaplial Traction 5s—8500 a! Au“bsv; f tal Traction Conpany-—I lec. eom, o' ol 3 10 ¢ 6741 10 at 671, 10 1068 d0at 8,710 at 68, 20 at 68, 100 Money—Call loane—3 and 6 per cent. BON Bid and Asked Prices. PUBLIC UTILITY. Foe gl it 2 Cupy Geor . R. B Petomac Elec. 1st bs. Potomac Elec. cons. 5 tomac Elec. deb. 6s. Potomac Elec. Pow. §. m. Pot. i1ex & SV e AL STOCK DNDENDIS AIDBY .. BANK Capital Raised ,Fr&m $75,- 000 to $100,000—Railway Common Active, Higher. BY L A. FLEMING. The Northwest Savings Bank, of which Francis M. Savage is president, is taking: the lead among local finan- clal “instiutions in declaring a stock dividend. ‘In, this instance the divi- dend “is 33-1-3.pgr. cent, which in- creases the capital ‘stock.of the fnsti- tutlon’ from $75,000 to: $100,000. The dividend is payable to share- holders of record April 6, giving to each holder of 25 shares 8.1-3 shares of new stock. The directors have requested that all fractional shares shall be sold to certain members of the board of di- rectors who have been selected for that. purpose, and who will consoli- date the fractions. for the purpose of wy. & Elec. 4s. Bwy. & Eiec. g. m. 8s. MISCELLANEOUS. Bec. Stoi Wash. Mkt. Cold Storage 5 Wardman Park Hotel 6s. STOCKS. < TRUST COMPANY. ‘Ameriean’ Bec. & Trus Continental Trust. erchants’ Baok. Nationa! Saviags and Trust.. Union Trust. Wash. Loan & Trus! SAVINGS BANK. Commerce and Bavings. East Washington. Security Savings Seventh Street. United State Washington Mechanics’ . FIRE INSURANCE. American Corcoran Firemen's National TITLE INSURANCE. Columbia Title Real Estate. MISCELLANEOTS, Col. Graphophone com. Columbia_ Graphophone D. C. Paper pfd Merchants' Trans! Mergenthaler Linotype. utch Market com. 014 Dutch Market ptd. Lanston Monotype. Becurity Storage.. Washington Market Yellow Cab ... *Ex dividend COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY KANSAS CITY, April 13.—Shipments of farm implements and machinery #1e increasing today and dealers ex- pect continued improvement in sales as the season advances. Business for the last month has been the best {ed financia]l condition of the farmers. ATLANTA, April 13.—Rising prices "l of building materials are finding con- sigerable resistance here, -although { expenditures called for by permits for buildings issued since January 1. ex- ceed 310,}\10‘0004 Lumber _dealers prices have been stationary for thirty days. DENVER,. April 13.—Labor agents of the Union Pacific railroad are hav- ing difficulty in recruiting sufficient common labor for double tracking the line between Granger and Leroy, Wyo. PHILADELPHIA, Pa. April 13.— The John T. Lewis and Brothers Com- pany manufacturers of linseed oil, have .completed negotiations for ship- ment direct to Philadelphia of 500,000 bushels of flax seed yearly from chrried by the International Freight- ing Corporation. Formerly the ship- ments went through New York. NEW ORLEANS, April 13.—Inte. rior merchants who were influenced to put off buying sugar in the hopes of lower prices because of govern- ment investigation and press agita- tion today are coming to this mar- ket in increasing numbers. Local re- finers who advanced refined sugar a quarter of a cent recently have sold ail they care to at that price and have withdrawn from the market. SPOKANE, Wash, April 13 —A bumper crop of wheat in the inlapd empire, comprising eastern Washinig- ton, the panhandle of ldaho and east- ern Oregon, is indicated by reports Teceived here today. CHICAGO, April 13.—Coal is in lit- tle demand throughout the middle west today. Illinois producers are marking time waiting for the im- pending_advance in prices to affect the market. DANVILLE, Pa, April 13.—The American-Swedo Iron Company has ofered to its workers a bonus of 10 per cent for steady work. Those who work each day for a month will' be given the bonus. YOUNGSTOWN, Ohio, April 13.—A shortage of open-top cars is.being felt by steel makers here. The sup- ply of box cars Is sufficient to take care of current needs and reduce stocks carried at many plants. PITTSBURGH, Pa., April 13.—The United Engineering and Foundry Company is building a number of sheet mills for the Weirton Steel Company at Weirton, W. Va. LOANS ARE RESTRICTED TO CURB INFLATION Special Dispitch to The Sta: ST. LOUIS. Apri bankers and business men to curb in fiation on the part of merchants and manufacturers are having a most salutary effect in this midwest terri- tory. Loans are being restricted in many towns and cities to curb credit ! inflation, yet at the same time com- merce continues to attain record volume. Price: upward, and wfhil rams are o Fhare s evidence'that many big build ing projects are being held in abey- ance. There is every indication, how~ ever, that business will - show no tendency to slow for the next three months at least. The St. Louis and San Francisco railroad has let contracts for addl- tional double tracking in connection with its St. Louis terminal, which will cost §300,000. construction pro- since pre-wer days, reflecting improv- | pointed out today. however, that pie] Buenos Aires. This tonnage will be; —Efforts of 13.—E I and costs each are trending | W blacing stock among business men. Where it will work for the benefit of the'bank. o ‘When the stock.is placed on & divi- dend basis the fractions will not par- ticipate unless copsolidated into whole shares. It is the purpose of the manage- meat to continue to increase the surplus rather than to pay dividends in the near future. = Draws Down $53,770,700. Secretary Mellon thls morning called upon depositories containing Droceeds of the sale of Treasury cer- tificates T.S, 2, 1923, and T. M., 1924, certificates to pay into the varlous regional banks $23,770,700, and for banks holding the balance of the proceeds of the January 15 certifi- cates to pay in all of the remainder, $30.000,000. The banks have had these amounts for an unusually long time, as th® Treasury was so fattened by income tax payments that it has not needed the certificate cash. Washington Gas 6e. Washington Gas Company officials are about ready to announce a $3,500.. 000 {ssue of 6 per cent ten-year bond& proceeds to be used for the retirement of the outstanding 7% per cent notes. It is the intention of the officials to make a campaign for the purpose of placing these bonds with consumers and employes. There is to be a convertible pro- vision in the proposed bond issue thai may never be used unless Congress gives the Washington Gas Company the right to issue preferred stock. It {5 a matter of public knowledg®é that the capitalization of the company is exactly the same as when incor- porated half a century ago. : Unlike other corporations the utili- ties of Wasliington cannot increase their stock. They are afraid even to make appli- cation, fearing that some impossible rider will be saddled on to the cor- poration. In other states public utility com- missions have this matter in hand, and corporations reimburse them! selves for capital expenditures by in- creases in stock, rather than by put. ting additional mortgages on theiy property. There is probably not another cor: poration in the country, organized fifty years ago, still operating with the same capitalization as when or- ganized. Raflway Common Active, Firm. There was an active, steady demand for Railway common on today's sese sion of the local exchange, and for the first time since the Pepco cas ruling by the Supreme Court the ac: tion was accompanied by a slow and gradual advance. Opening at 66% the stock moved steadily with liberal trading to 68 and closed very strong. In all 650 shares | were absorbed by the buying. th usual fiberal 10-share liquidation amd some few 100-share lots. But the | market closed higher than it open- B Washington Gas fell back a point on the bond issue announcement go: |ing from 4913 to 49. | gVashington Market shares bronght 138, | A few shares of Capital Traction brought 9315 and the 5s sold at 96%, {A. & P. 55 sold at 87. pH Change About May 1. It is expected that the present con- troller of the currency will retain of- {fice until the end of the present montl when he will assume his duties a4 governor of the Federal Reserva { Board and be succeeded by Controllet Dawes. \COTTON"PRICES OFF IN TRADING-TODA I Improved Weather - Condition§ Cause of Selling int Both Market: By the Associated Press. NEW YORK, Aprl 13.—Cotton fu tures opened steady; May, 29.50; July 28.75; October, 25.91; December, 25.3%; January, 25.06. The cotton market opened at a dey cline of 7 points on August, but gen: erally 4 to 7 points higher In res sponse to relatively irm cables and reports of further rains in the south: i There was less precipitation on th§ weather map than there was yesteri day, however, with indications tha the ‘rains werd working east, leavin clear conditions behind them, an prices eased off during the early trady ing under scattering liquidation. 4 _NEW ORLEANS, April 1:.—R.m; 4nd low temperatures in the belt, bet. ter cables than due and estimates o 640,000 bales as March consumption o cotton in this cougtry caused moder. ate buying around the opening of th cotton market today, on which pri gained 4 to 7 points. Estimates tha Fall River sales of print cloths we: only 35.000 pieces, making this one o the quietest weeks since the war the market, together with prospect: of clearing weather in the belt, rej sulted in sellin®. under which price ere 9 to 17 points lower than yes. terday’s close at the end of the A half hour of business. May ros 28.88 and fell off to 28.72: Octobe Tose to 25.38 and fell off to 25.17. NEW YORK, April 13.—11:45 a. bids: May, 29.33; July, 28.59; Octol 25.74; January, 24.87. Steady. } NEW ORLEANS, April 13.—Nooy bids: Steady; May, 28.62; July, 28.33 Qctober, 25.09; December, January, 24.50. ——— FOREIGN EXCHANGE. April 18, 1928—1° ) pm. 24.69 aske Zurlch, franc. Athens, drach: peset PARIS, April 13.—Trading was quiet on the bourse today. Three per cent rentes, 57 francs 40 centimes. Exchange on London, 69 francs 47 centim Five per cent n, 74 trancs 20 centimes. The dollar was qQuoted at 14 francs 93 centimes,