Evening Star Newspaper, October 31, 1923, Page 12

¥ 2 » OULD CLOSE BANK FOR MARK DRAFT ocal Lawyer Says Law Vio- lated by Issuing Check on German Paper. A situation unique in the history of modern banking has arisen with Walter Holland, Washington attor- ney, seeking revocation of the Com- mercial Bank's charter on the ground that it refuses to deposit at their .BANKERS IN WARM | known as a fee. ishould not be DEBATE ON REPORT (Continued from First Page.) points which might lead the investor to the wrong conclusion.” Further, the majority report declared the words “first mortgage bond" had long- been recognized by investors to mean “a first mortgage on both build- ing and land, the latter commonly The use of this term without qualification in connection with the mortgage on a building erected upon leased grounds, or any lack of irankness or obscure refer- ence to this fact, is misleading and countenanced.” Mr. Gottlieb in his minority report declared the committee should not have declared itself at this time on subjects of dispute. “I repeat here what 1 said to the committee," said Mr. Gottlieb's report, “that this at- | titude of hasty decisions and rules is the same basic underlying fault par value ten million German marks, , Which has led to the wmass and mess purchased of it by him value of the marks would be $2,383.- 000. The institution, he asserts in a protest filed with the office of the controller general of the bas violated the national banking &ct, which will compei every national bank in the country which has passed German marks over its count- ers to redeem them at par. The subject of Hollapd's is section 5206 of the act, entitled, “Prohibition against under- current’ notes.” The section reads: “No association shall ai any time pay out on loans or discounts, in purchasing drafts or bills of ex- charge, or in nayment of :leposits, or in any other way pay or put in eir- culation the notes of any bank or banking association which are not, at any such time, receivable, at par, on deposit, and in payment of debts by the ussociation so paying out or circulating such notes; or snall any assoclation Knowingly pay out or put in circulation any notes issued by any bank or banking association which™ at the time of such paying out or putting in circulation Is not redeeming its circulating notes in lawful money of the United States.” Purchase of Marks. 1rotest The par| Treasury, | which 1 | of ill-considered legislation, about which the whole assoclation com- plains; namely, the feeling of legis- latures that they must legislate vol- ', however meager their in- on and information may be upon the subjects tnvolved.” Trustees Are Debated. ‘lusistence upon independent cor- porate trustees,” said Mr. Gottlieb, “and the impounding of construction and other funds may mean the arti- ficial injection of trust companies and banks into businesy which may prop- erly be conducted independently.” The majority report had insisted on “the use of a corporate trustee, such as a modern trust company or a na- tional bank with trust powers, possibly supplemented with an individual co- trustee.” Concerning the percentage of loan to valuation. another dixputed point, the majority’ report said: “Your com- mittee has given consideration to the widespread discussion concerning a more liberal allowance of loan to ap- praisal than has obtained in the past, but is strongly inclined to the belief that in view of the fact of greatly increased building and labor costs of recent years it would be most inad- visable to recommend a departure from the conservative rules which have governed the investment of sav- ings banks and trust funds in the Events leading up to the controversy | past and have been the practice by are as follows: On August 17 Holland purchased from the Commercial Na- tional Bank its draft drawn on the Dire on der Disconto sellschaft, Berlin, Germany, for 10,000,000 marks, paying the bank therefor $7.50. On October 15 last Holland came into the Commercial National and presented two deposit tickets to the Teceiving teller's window, made out for $2.382,000, according to the bank’s recollection, along with the Commer- cial Natlonal Bank's check on Berlin for 10,000,000 marks. The receiving' teller, not under- standing just what Holland wanted 10 d referred him to one of the officers. Holland told this officer that marks were worth .2382 cents each, and that he wished to deposit the bank's draft to his edit at this rate of exchange. He was then asked if the draft had been presented in Berlin, and replied that it had not. Unon being informed the check was payable In Berlin he replied that there was no use in pre- senting it there because he had posi- tive knowledge that the bank in Germany was not in a position, legal- 1y, to honor it. Holland then asked if the bank would redeem the draft for $2,382,000, and upon being in- formed that it would not, away. On the following morning the bank received notice of protest of its check (the draft on Berlin) for 10,000,000 marks, signed by F. T. Stephenson, notary public, who showed on his notice that he was entitled to fees amounting to $357,301.11, per cent of the prot took the matter up with its attorney, who suggested that they obtain 10,- 000,000 marks, German currency, and tender it to Holland in place of its check. accepted the paper currency. 1t is understood Hoiland holds sev- eral other loca] bank checks of a sim- flar kind. Washington bankers are to regard the protest as a joke. ALEXANDRIA. ALEXANDRIA, Va., October 31.— Masons began arriving here today to participate in the laying of the corner stone for the George Washing- ton Masonic Memorial Temple. President Coolidge and a large party of high government officials will view the work, which will be done by Charles H. Callahan, assisted by the Grand Lodge officers of Virginia. Freemason's from every jurisdic- tion in_the country, with the Army, Navy, Marines and the Air Service doing honor to the memory of the first President, will be present tomor- row when the largest parade in the history of the city, passes through the historic streets fo the foot of the temple. There will be 12.000 or 15,000 marching in the parade. of which number more than 2,000 will be in the uniform of the various military and naval brunches. Twenty-five bands will furnish music. The Rt Rev. Jmes E. Freeman, D. D., Bishop of the Dioces of Wash- ington, will deliver the principal ad- dress at the temple. The time of the corner stone laying will be timed to the convenience of the President. It is thought that the ceremony will be- gin about 1 o'clock. Following the ceremony the visit- ing dignitaries will be feasted at the torpedo station, where a huge ban- quet is being spread. Amplifiers have been the hill, so thati every oble to hear the speaker. ments have been made for the broad- casting of the speeches both from the hill and from the banquet installed on one will be peakers for and against the $50,- to bel 000.000 bond issue, which is voted on next Tuesday, will address the people of Fairfax county tomor- row night at a m is to be held in the Woodlawn Com- munity House, near the entrance to Fort Humphreys The feeling throughout the county, those in close touch with the situ- tion say, are for the issue. The meet- ing tomorrow is to be non-partisan and the views of both sides will be fully aired. Many Alexandrians are expecting to make the trip. The mieeting will start at 7:30 o'clock. Mrs. Julia Wright, eighty-three years old. died at her home in Hume | is survived i Springs yesterday. She by several children. Burial in Leesburg, her former home. Funeral services were held yester- day for Mary Rynor, two-year-old daughter of Mr. and Mrs. James Ry- nor, former residents of this city, but now of Washington. Catching fire when a lantern fell and broke the main feed line, a thirty-five-foot tender of the U. S§. S. Richmond, which anchored in mid- stream here yesterday to honor Washington by assisting in the cer- emonies incident to the laying of the corner stome, caught fire last night and was burned to the water line. The crew of the ship battled the blaze, which quickly gained head- will be way, fed by the gasoline tank, but|( could not extinguish it. One sailor was burned slightly. The boat was dragged to the flats where the flames consumed it. e Kiwanis Club was entertained at & Halloween party last night at Camp Humphreys. The Kiwanians were invited to the Westminster bullding, but were carried to the camp in waiting machines. FOUR INJURED IN AUTO CRASH AFTER FUNERAL Bpecial Dispatch to The Star. KEYSER, W. Va.. October 31.—Four were injured returning from the funeral of Mildred Clark yesterday, conservative lenders of long experi- ence. The great majority of the com- mittee therefore believes that 50 per cent of present costs should be the standard, with 60 per cent as a max- imum.” Bullding Costsx Uncertain. Discussing the high level of build- ing costs, the committee would mot attempt to prophesy whether “they will remain where they are, advance or recede; nor does it predict the du- ratlon of the present period of build- ing_activity.” Hrhere are. however,” the report said, “unmistakable signs that many clties now have no housing shortage and that others have been overbullt. Tt is thought, therefore, that It is time to utter a word of caution to those who have not been in the real estate secur- ities business long enough to have lived through perlods of overexpansion in this fleld.” Taking index numbers established by the Aberthaw Company of Boston as representative, the committee said the table showed the peak in building costs was reached in July, 1920, when costs This was done and Holland |12 to 17 per cent. returned the check to the bank and |buildings was placed from 3.44 per inclined | the average.” Arrange- |it was before the passage of the act. s meeting which | be carried on by one board, since the were 265 per cent, as compared to the 1914 level. In the succeeding decline the low point was reached in the first he went|four months of 1922, when the index stood at 15115 per cent—51% per cent above 1914 and 113% per cent below the peak. Within the year the Increase in cost, according to this index, the_notice of protest being [peen no less than 30 per cent. Rent Percentage Fixed. The percentage of the average sal- this sum representing 15 |aried man's income proper to use for The bank |rent was placed by the committee at not to exceed 25 per cent of his total income. Rental returns of apartment houses were said to yield from 10 per cent to 25 per cent, with normal from Return on office cent io 4.86 per cent, indicating that, “contrary to the opinion held in some quarters, there is no large fortune in the operation of office buildings on The remainder of the report on real estate securities on which the com- mittee as a whole was agreed re- Viewed the situation on agricultural paper, timber loans and legal phases, “Farmers are settling down to cu tivating their farms,” said the com- mittee, “and correcting their financial mistakes of boom vears. The resuit Is that the closing months of 1923 find the average farmer in an easier posi- tion financially and thinking along sound practical lines.” Farmers Nearer Norm: ‘Real progress has been made toward the setoration of normal equilibrium of rural and urban prices” it was said. “As a result, bankers report that the farmer Is usually meeting his obligations promptly and farm improvements are again being made or contemplated.” 4 Much of the farmers' troubles in the past was said, in the opinion of many men of long experience in the farm loan business, to have been caused by “overfinancing.” ‘ Timber loans were said to be in the “province of experts” with the real basis for such loans, “standing merchantable timber, preferably owned in fee simple.” The happy medium in conservative loans on tim- ber was said to be “a serial maturitn based on a curtailed or minimum ca- pacity.” Development of timber “pro- motively” was declared to be “most hazardous.” Approve Rall Act. Indorsing the transportation act of | 1920 substantially as it now stands, the committee on rallroad securitles in Its report declared that the present law “leaves the position of the rail- road industry materially better than and, as a matter of fact, better than it was during most of the early com- petitive period, when there was no effective rate legislation.” The committee recommended the {work of the Railroad Labor Board and the Interstate Commerce Commission power of the Labor Board to make recommendations on wages has an im- ! | portant bearing on the decisions of ithe Interstate Commerce Commission on passenger and -frelght rates. Fair Return Is Aske: “It is probably clear,” sald the re- port, “that we may regard the courts as committed to the recognition of |the general principle that rallroad Iproperty is entitled to earn .a fair | return on the actual value of that; {part of the property devoted to public use. It is also quite clear that the present determination of actual in- vestment by the commission will be far out of date when it is completed, and that the decreased purchasing power of the dollar since the war will result in this figure being a very different thing from the cost of reproduction new, -less depraclation.” ““The important gain to the holder of rallroad securities, however, is the recognition of the constitutional { principle. It will be a long_time before the courts determine finally what the proper basis for valuation is. and a long time after that before any figure now in hand can be brought up to meet the requirements of the court decision, but, given the | accepted principle of a fair return on a fair value, we have achleved a great step forward, and are prob- {bly more secure than we have been at any time in many years from un- intelligent radicalism, which fails to { see that loss of credit and extension of facilities are two things which cannot go together.” South American Loanms. At the close of yesterday's business session Dr. L. S. Rowe, director gen eral of the Pan-American Union, re. ported that the total of American capital Investment in Latin America had “increased rapidly during the last twenty years, but, what is even more important, it has brought to its support an Increasing measure of good will attested, not only by the attitude of the public authorities, but when the automobile of Earl Trenton |aiso as shown by the attitude of the upset when bridge. turning at Mre. Trenton and child, Mrs. Lee | the American Kesner and Margaret Chrisman were | Latin America under the car. All are badly |garding the loans of all private en- pin bruised, but will recover. 7 Arnold’s | masses of the people. Since the world war, Dr. Rowe said, eople’ had loane n public loans, disre- terprises, $529,680,000. = . has THE EVENING STAR, WASHINGTON, CITES INFLUENCE OF W.C.1.U. BODY Is Molding Force of Public Opinion for Good, Col. Axton Declares. The Woman's Christian Temperance Union is organizing force of public opinion for good and for the sup- port of the law, Col. John T. Axton, chief of the United States Army chaplains, declared in an address be- fore the Woman's Christian Temper- ance Unlon of the District of Colum- bia in the Sunday school house of the Calvary Baptist Church today. “The influence of the W. C. T. U. on the men fn the Army has been marvelous,” he declared. He stafed that the moral influence exerted upon by such organizations as the W. C. T. U. was one of the greatest Influences for good. Reception of Reports. Reports and minutes were read dur- ing the morning by the following: Mrs. Theresa A. Williams, Mrs. Good- win D. Ellsworth, Mrs. S. W. Morris and Mrs. Isabella Webb Parks. Election of officers is taking place this afternoon. Other reports also will be heard. The sacredness of the Constitution of the United States and the impor- tance of educating the people of the country to obey the law was the text of the annual address of the president of the association, Mrs. Emma San- ford She'ton, yesterday afternoon. More vigilance is needed in seeing that the eighteenth amendment Is enforced, Mrs. Shelton pointed out. “If the 253,000 policemen throughout the country would be true to their oath of office 1t would serve greatly to stem the tide of law violation,” she said Dr. Pak Chue Chan, a Chinese physician, delivered an address on the old and the new China, and commented on how the United States had helped that country. The convention was called to order yesterday by Mrs. Emma Sanford Shel- ton, president of the organization. The union will strive to enroll 500 new mem- bers during the next year it was an- nounced. Dr. William §. Abernathy, pastor of the church, who delivered an address of welcome, praised the body as the “greatest woman's organization work ing with a single object in viev and told them that there was always room for the W. C. T. U., in the vary Baptist Church. Song service was held and the American’s Creed recited, after which the audience was led in prayer by Mrs. Ellfs Logan ) The program for yesterday included reading of minutes of the last quar- terly convention by Mrs. Oscar E Lancaster, assistant recording secre tary, and reports by Mrs. N. M. Pol- lock; corresponding secretary; Mrs. J. W. Allison, treasurer: Mrs. Charles 17 Grandfield, auditor; i report on the young peoples’ branch by Mrs. Edna Taylor, secretary, and a report from the Loyal Temperance Legion by Mrs. Edna ~Proctor, secretary of that branch. Consecration services were conducted by Rev. Isaac Ward. Reports by the delegates to the na- tional convention, an address by Dr. Pak Chue Chan, a Chinese physician: the annual address of the president, Mrs. Shelton, and the reading of re- ports featured the convention for the afternoon. men {CAPT. JOHNSON GIVEN FAREWELL BANQUET A farewell dinner in honor of Capt. William H. Johnson, U. 8. A., for two vears assistant professor of military sclence and tactics in the Washington high schools, will be given at the Army and Navy Club tomorrow by school officials and school military authoritles. Capt. Johnson will leave shortly afterwards for Fort Eustis, Va., having been transferred to the 34th Infantry, which is stationed there. Maj. Belton O'N. Kennedy of the Coast Artillery took up his duties today as assistant professor of mil- itary science and tactics In the high schools, succeeding Capt. Johnson He was assigned to the McKinley Technical High School, headqyarters of the 2d Regiment of the Cadet Corps. The dinner tomorrow will tended by Col. Wallace M. be at- Craigie, U. S. A., professor of military science | and tactics In the high schools; Capt. O'Neill, assistant to Col. Craigie; Ste- phen E. Kramer, principal of Central High School, and other scheel clals. Ofticers of the McKinley High School regiment presented with a gold ring. Capt. Johnson dinner recently. with the cadet corps, Capt. Johnson was stationed at McKinle: | struck him. | positively identified Bauer as the man offi- | the set in which | contained the cadet corps’ coat of |found arms and crossed rifles, at a farewell | flames. During his service LIQUOR KNOWLEDGE DENIED BY DAVIS (Continued from First Page.) been given to Commissioner Oyster im- mediately after he received them. Former Agent Testifies. J. H. Tilton, former prohibition agent, who was summoned here from Hagerstown, Md., to testify, Wi questioned as to whether he had per- sonal knowledge that in the first week of June, 1923, Ralph E. Ruby as a prohibition agent was 8o distrib- uting other agents and police as to facilitate bringing fllicit liquor into the District. Witness denled i He testified, however, that Lieut. Davis had told him that Ruby was assisting “bootleggers” to _bring lquor into Washington for Shrine week by sending cars to tell rum- runners on which roads the agents would be on, so that they might avoid them. The charge under hearing is that Lieut. Davis knew such a practioe was in existence, but took no action. Says Action Intended. Tilton said Davis had talked to him of the alleged practice a number of times, but added he, Davis, had taken no action, but he intended to do so. { to_June. Attorney T. Morris Wampler repre- senting Davis, took the witness in cross-examination. Tilton then stated that Davis had expressed the above charges to him as a personal opinion, but not as a known fact. Under examination on another specification Tilton said Davis had charged that certain agents had been told by Ruby to patrol the Baltimore pike, who switched, against Ruby’s orders, to the Leonardtown ' pike, thereby catching three bootlegger: As a result of this catch, Davis said, according to witness, Ruby caused the transfer of an agent to South Carolina. Witness declared Davis had assured him he would take action “when the time came”—when Con- gress met. Challenged as “Opinion.” Questions of Wampler again sought to establish that such statements from Davis were given as an opinio Tilton declared that Davis simply wald these things as a direct state- ment, but that Davis did not say he possessed knowledge of this as a fact. Under the specification charging Davis with knowledge of Ruby be- ing a “bootlegger” and failing to act, Tiiton, on direct examination, said Davis had stated that Ruby, while he was a prohibition agent. “was running liquor.” “He said,” witness testified, “that Ruby had previously been a notorious Tootlegger in Washington and was still occasionally running it in.'" On cross-examination b Wampler, witness admitted that such statements were not declarations of ac- tual knowledge, but he made them as an “observation.” The reason he, as a dry agent, di not take action when Davis told him of this, Tilton said, was that he knew of “the hearty dislike” Davis had for Ruby. The case moved tpecification against Davis that the vice squad lieutenant knew George Fowler, as a dry agent. ran a car with liquor into the District and fail- ed to turn over car and liquor to authorities Wampler, in a Attorney on_ slowly a grilling cross-ques- tioning, asked the witness whether he reported statements such as at- tributed to Davis to his superiors. Tilton said he had not, for the reason that he thought it “was up” to Lieut Davis to take action. The proceedure was greatly parallel to that in the former specifications this morning. An attempt to break down allega- tions regarding Bauer's alleged as- sault upon L. R. Porter at 1227 15th street last March 31, was made by the defense late vesterday afternoon. Attorney T. Morris Wampler went to work systematically to tear the prosecution’s evidence to pleces he produced Joseph C. Mal declured he made the “buy resulted in the raid, and testified he was with Bauer all the time during the raid and saw no assault. Deny Move to Hip. Then the defense went after the allegation that Bauer motioned to- ward his right hip in an attitude of drawing a revolver. Bauer, called to the stand, showed that he was left- handed and carried his revolver in a holster at his left hip. Other witnesses were produced who gave similar testimony. Wampler started a series of ques- tions which brought testimony that there was a fight at that address on the night of the raid between George Fowler, jr. there as a prohibition agent, and another resident. Fowler himself testified that he had repelled an attack upon himself by a blow. A man came at him with an upraised bottle to “bean” him, he testified, and he_was forced to act in self-defense. Defense counsel sought to show that this was the fight to which Por- ter had reference when he said Bauer Porter denied it, and who “knocked” him across the room. FIRE DESTROYS BARN. FREDERICKSBURG, Va. October 31.—A large barn on the farm of County Game Warden Douglas T. Gray, in_ King George county, was destroyed by fire of unknown origin. Menibers of Mr. Gray’s family heard a commotion and investigating they the structure enveloped in The live stock and farming machinery were saved, but the barn and hay were destroyed. The loss was partially covered by insurance. Two Pairs Knickers Are George’s Special in Mothers, here’s a suit that will dress your boy well, as they are made of the finest fabrics and tailored in the most advanced styles. Made to wear and to look well. Gabardine and Whipcord Raincoats, $19.75 In men’s and young men’s models. With raglan shoulders and quarter silk lined. -Sold around town at $25. On sale here tomorrow at $19.75. 70 910 Seventh St “We Request the Return of Anything That Can Be Bought for Less Elsewhere” P said he | This was some time prior | . _C., WEDNESDAY, OCTOBER 31, 1923. CRITTENTON FUND | INCREASED §7,163 Total for Campaign to Pro- vide New Home, $74,247, Solicitors Report. More than $7,000 was added to the Florence Crittenton Home building campaign in the last twenty-four hours, according to reports made to forty-two team captains of the drive at the daily luncheon this afternoon of the campaign workers at the Eb- bitt Hotel. A total of $7,163.70 was reported today. bringing the grand total to $74,247.50. An effort is be- ing made to raise $200,000 by next i Monday. | “The ‘blue ribbon for the team ob- taining the largest contributions in a single day remalned with No. 28, of which Mrs. L. A. Willlams is captain. Her team turned In $1,708, an increase of more than $500 over yesterday. i'l'he red ribbon for the team securing ! the most players was won by No. 15, headed by Mrs. Edgar Brown. This team reported sixty-three subscrip- tions. Rev. Charles Wood, pastor of the Church of the Covenant, spoke on the pursuit of happiness, and praised the campaign workers for their ef- forts to aid the girls in the Florence | Crittenton Home. Dr. L. W. Glaze- brook, who presided, urged the cam- paign workers not to relax in their efforts to secure subscriptions. In- vocation was pronounced by Evangel- ist Bob Johnson. CHINESE STOWAWAYS FOUND IN SHIP’S HOLD! Discovery of Ten Contrabands An- nounced by Officers, Who Were Searching for Liquor. By the Amsoclated Press. BALTIMORE, Md., October 31.— Searching for contraband liquor, cus- toms officers yesterday found ten Chinese stowaways in the hold of the steamer Callabasas, which arrived at Sparrows Point Monday. The Calla- basas was loaded with ore from Fel-| ton, Cuba | Since the capture a few days ago | of 250 bottles on board the Derwin- dale, from Santiago, customs officers have been searching vessels from Cuba for liquor. While in the hold of the Calabasas, poking about with the steel prongs they use in search- ing for glass containers, they pronged several Chinese. One by one the ten were routed from under a lot of | dunnage. The Calabasas touched fi.ve ports on the Cuban coast and ship officers do not know at what port the stow- aways came on board. they say. LLLLLTLLTLLLLCLDD) LCLLCLLLLL LA CLLLL L LCLLLL LS LLLLLLL L L L TAILORS HOLDING OUT FOR 25 PER CENT RAISE Open Shop Declared in Washington and Several Scores of Men Replaced. Striking workmen In twenty-two custom tallor shops of Washington are still holding out for a_ general increase of 25 per cent in all branches of the tallors’ trade and the strike today appears to be as far from set- tlement as it was nearly two weeks ago when 200 workmen walked out, leaving behind them a demand for a large wage increase. The workmen have turned down a general increase of 15 per cent proposal made by the operating tailors and are holding out for higher wage levels. In the meantime open shop has been declared in the custom tallor- ing industry in Washington, and sev- eral score workmen not connected with the Journeyman Talilors' Union, now have the jobs of the strikers, In some caves work is still belng sent to other cities for completion. John B. Colpoys, commissioner of concili- ation of the Labor Deparment, is working in an attempt to reach an adjustment of the strike, and is also handling an incipient labor trouble in the meat-cutting industry in Wash- ington. GRAVE IN ABBEY FOR BONAR LAW Ex-Premier to Be Buried Monday With Britain’s Greatest Dead. By the Associated Press. LONDON, October 31.—The body of Andrew Bonar Law, the former prime minister, will be burfed in Westmin- stor Abbey at noon next Monday. The funeral service will be a full choral service conducted by the dean. It is believed the body will be cre- mated before the funeral and that the grave will be somewhere in the nave of the abbey. The king telegraphed the following message to Mr. Bonar Law's famil “The queen and I sympathize with | you and your family in the death of | W. vour dear father. We have equally felt for you during the pathetic events of last month. I always found Mr. Bonar Law a wise and capable counselor and a steadfast friend, and throughout my relations with him as a minister of the crown, and, finally, as prime minister, 1 recognized that integrity, patriotism and single-heart- edness which gained for him the con- fidence and respect of his fellows both at home and abroad.” MOTORISTS TAUGHT SAFETY IN DRIVING Course of Instruction at Mc- Kinley School Opens With 150 Enrolled. With an enrollment of more than 150 motroists, the safe driver's course conducted by the Washington Safety | Council, opened last night at the Mc- Kinley Technical High School. A simlilar course for colored motorists will begin next Tuesday night, at the Dunbar High School. The course at each of the schools {will be of six weeks' duration. All| | phases of automobile operation and care which makes for safety on the | streets and highways will be discus- sed thoroughly by the lecturers, who |include men long identified with the | motor industry In Washington, as well as safety first experts. Odell §. Smith, P, L. Kise, A. J. Headley, R. E. Carlson and Inspector Headley of the traffic bureau of the police department, gave the initial course. Deplores Reckless Driving. Mr. Smith deplored reckless driving, pointing out that there were 14,000 funerals in the United States last year, as a result of careless driving | on the part of the motorist. | Proper care of the brake was| touched or by Mr. Kise, while Mr. Carlson of the burean of standards | talked on automobile lights and | lighting the road. Inspector Head-| ;Iey pledged the co-operation of the trafic bureau in making the streets of Washington more safe, both for drivers and pedestrians 1 Diplomas to Be Awarded. Upon the completion of the course | those drivers who have attended five | or more classes will be awarded | diplomas. One hundred and fifty-five | | drivers who took the course at McKin- ley School last vear received diplomas, | while 405 were graduated at Dunbar. | R. T. Oliver, Pearce Raynor, E. A. y Drumm and Charles A. Baker will | give the second course at MeKinley | | next Tuesday night. Those who lec- | | tured” at McKinley last night will| | open the course at Dunbar. Karl Corby is director of the course | | at McKinley and C. W. Childs, ir., di- | | recter of the Dunbar course. | e | Ciroumstances Alter Cases. i From the Richmond Times Dispatch. | “When de jedge he say t' me is 1| guilty,” said Charcoal Eph, rumina- | tively, “I says if yo' all kin prove hit. | jedge, 1 is; but ef'n yo' all got any | doubt about hit, not guilty, jedge; | not guilty!" Begin today. Buy a Kuppenheimer suit, make an investment in good appearance. You'll never again buy clothes any other way. The HOUSE of | - KUPPENHEIMER 1325 F POSINE STREET 333333 |COLUMBIA LEADING | though BLUENOSE IN RACE Gloucester Schooner May Tie Race Series by Victory—Wind Weak at Start. By the Assoclated Press. HALIFAX, N. S, October 31.—The | Gloucester schooner Columbia and the Lunenburg schooner Bluenose to- day engaged in their second race of the series for the international fishermen’s cup. A victory for tha Bluenose today would give her the cup for another year. Victory for the Columbia would tle the series at ono all. Bluenose beat Columbia by ten sec- onds across the starting line. Blue- nose crossed at 9:32. There was a fif- teen-Knot breeze. The race was over a course of thirty-nine miles. The wind died down as the boats were salling Wing and wing on the first leg and it began to look as the race might not finlsh within the time limit of six hours. It took an hour and & half to sail six miles to the first mark, which Columbia turned first, a min- ute in the lead. The wind freshened somewhat as the boats covered the second leg and Columbla increased her lead, making the turn four minutes ahead of Blue- nose. The second mark was seven- teen miles from the start and it took nearly three and a half hours for the boats to make the distance. INVESTMENTS TOPIC OF BANKERS’ REPORT | Committee Discusses, in Detail, 0il, Automobile and Other Securities. The committee on industrial curities reported this morning in de- tall on oil, automobile, pulp and paper, chain stores and mall order securities Summarizing general principles concerning industrials, with their frequent cases of a com- pany “with substantial value in plant and other assets, making a profit which entitles it to a value far greater than any tangible values' the committee said: “Industrial enterprises as a rule, however, are not adapted to steady results. In some years the earnings are large, in others very poor. sometimes [nvolving losses even for customarily successful concerns. “Accordingly, fixed charges or fixed dividends cannot be incurred with the same freedom as In the case of rail- roads and utilities, with their stead- ier earnings, from year to year. T! makes it more necessary for indus- trial companies to consider the possi- billties of interesting investors in their common stocks.” “In order to be good mortgage se- curit the committee said. ‘“‘prop- erty should po: ss three qualities— continued usefulness, substantial value at the end of a term of vears and ready saleability at all times" CLLLCLLLLTLLLCLLLO02223222322222I23O It’s a Habit JELL-dressed men don’t fuss or wotry about their clothes. They have the quick, simple, economical habit of buying clothes that are an investment in good appearance. You can do the same thing in the same way. You should do it. It will improve your appearance and save you money. It’s a profitable habit, CLELLLLLLLLLLCLLLELLLLELLLLD 9 QELLLLLLLLLLCLCLLLLOLCLLLLTLLT T