Evening Star Newspaper, December 6, 1923, Page 27

THE . EVENING ‘STAR, WASHINGTON, LOANS MUST WAIT UPON REPARATIONS Paul Warburg Discusses Bank Relations Before DECEMBER 6, - 1923. L = URGES TAX REDUCTION. of the cotton bioc, of which he s s they we'e ten years ago. Ha i ] D. C, THURSDAY. OPPOSED TO ESTIMATES [Siairat . oese teve the sin: ity fhe s o Jobts s per A 0" cRoP INTENTIONS ::rsu;eepg;[d. m};];.g;ac :vh:;:‘ts 1‘?‘:“[“:‘('“"." Northern R. R. Head Seeg|CXI"Ple of how federal. state and local n | goycriment costs 1ave increased dur; . the seasor.. In addition to naming the 4 ng the last decade amount of cotton ginned, he helleves Need of Cutting Burden. { e XS tho reports should contain estimates| sT. PAUL, Decembér 6 of the amount of cotton expected 10 |,re getting round-shouldere LEAD GOES HIGHER. o Einned. i the huge burden of taxes which; NEW YORK. Dece; He would have the Pepartment of |, {ually have hecome oppressive bacayse | American Smelting R Agrlculture continue the reporting of |5¢ 1o gxeessive cost of government, |panv today ad crop-conditions, starting June 15, and | 5o s all get together and lower | l€ad from i to 7 the government of estimates on the | €VEry Lwo weeks after: taxes so that the dollar W sweat to intentions of cotton farmers to plant S ol 5 earn today won'L-look like 30 cents. to- and more frequent reports on giuning - morrow. ; _LIVE POULTRY HIGHER. and crop conditions is proposed In leg-| The fashionable dress for the| This is the substance of a étatement | CHICAGO, December & —p. islation drawn up by Represetative|women of Egypt 6,000 years ago was y Rai mocrat, Mississippf, which|a tight-litting dress to the unkles, with tight sleeves. much it - FIGHING BUSINESS BADLY HAMPERED Shortage of Men Ties Up Scores of Boats All Along Representative Rankin Proposes Legislation Changing Agri- culture Cotton BReports. the priee Elimination of the puplication by ts per pound. by @hairman Louis W. Hill of the Great [ Alive Ligher: fowl Northern railway, in which he states|18%; roosters, that taxes are nearly three times as'ke 2. Atlantic Coast. : ' \. i i Acceptance Council. o will 'submit (o & speclal committee BY J. C. ROYLE. Epecial Dispateh to the Star. EW YORK, December 6.—A good- ¥ portion of the fishing fleats of the Atlantic and gulf coasts are idle. The Teagon the “boats are rubbing their %cela on mud flats, aithough a fine market exists for fish and oysters, ls that there are not sufficient men @vallable to man them. The labor shortage in the sea food packing rlants which have Biloxl, Miss., us a center has become ucute. The shrimp and oyster season is well under way, Dbut neither the fleats nor the can- neriee are sufliclently supplied with \orkers. R. Hart Chinn of the Fos- ter Fountain Company estimates tho aage In the Blioxi plunts alone at Lack of Fishermen. From Galveston come reports that., Jhile the fishing is good, scores of Loats are lald up along the gulf. l!fl!' of the workers that supply the shrimp platforms, ovster beds and packing plants with laboe agd the 1-\’:!; Wwith men come from Chess- Duske bay in the winter season. This - ey have been conspic by '!|4;ll' absence. Bleucus by Several reasons are given for the diffi- \..uilhzs which beset the flshing industry along the Mary.and., Delaware, Jersey and New Engiand shores It is freely charged by some that rum running has ¢aused the bulk of the shortage in the fishing trades. One operator, who has pounds und ogster beds all the way from Hatteras to Boston, says many of the best flshermen have abandoned off- shore fishing for rum running, where l-\:lr inftlative und skill bring greater veturns. ©Oil Hurts Fishing Grounds. Fishetmen admit there has been some Tum running in New England waters, but say this has n rfered with the & f ters. — Oyster oduction in New England has been irt, it is clalmed. by the fouing of witers In which they are pianted by vil-burning vessels, It s claimed in Boston that the | fishermen engaged in whisky-running liave been. recruited far more exten- vely from Canada than from those of New England. In both Atlantic and Pacific waters catches this year have been epotty. wometimes bringing exceptional prices when the markets were the halibut eatches late in November, @ ing _sacrificed’ at low markets were glutted { Investigating False Quotations. | Cotton fnte: In the south con- tinued today responsibility dealers in These were cor- by Amerlcar. hotses | an markets opened, has not yst been rected on ihqu! before the Ame; but their - sour determined. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY CHICAGO, December 6.—A canvas of Home of International Exchange Bank, n streets n DOLLINGS OFFICIAL BROUGHT 70 TRIAL Dwight Harrison Indicted on Charge of Making False Statements. { MBUS, Ohlo, December .6.— Criminal court here was packed late vesterday, as taking of testimony started in_the trial of Dwight Harrl- €on, vice president of the defunct R. L. Dollings Company of Ohfo. Harri- son is being tried on an indictment charging him with making false statements as to the holdings of the Phoenix Portland Cement Company of Ohlo to prospective stockholders. Harrison's trial is the first criminal prosecution as a result of the fallure of the Dollings Company. h John J. Beck, advertising manager for the Dollings Company, testified that the alleged misrepresentation of | narship by the Phoenix Portland Cement Com ary, of plants at Nazareth, Pa. Birmingham, Ala, was written In Dollings prospectuses and booklets | from information supplied by Harr! hat Harrison read and ap- proved proofs of the same before} they went to the printers, the holdings of the Phoenix Company to prospective stockholders is based on the following paragraph read from | advertising watter introduced by the! state: ° company (the Fhoenix Com-, which the R. L. Dollings Com- pand. has a large plant which is now pro-; | | | ! way, The charge of mierepresentation of dealers, who state that a constderahle | Objectionabie, | aggrezate theant corner of 3th and H cthwe GRUDE OIL OUTPUT AGAIN DROPS OFF| Decrease of 115,250 Barrels Dur- ing Week—Imports Also Decline. By the Associated Press. _ NEW YORK, December 6.—The daily dverage gross crude ofl production of the United States decreased 115,250 bar- rels for the week ending December 1, totaling 2,083,000 barrels, according to the weekly summary of the American Petroleum Instftute. A decrease of 103,100 barrels in the daily average production of the Powell fleld in Texas accounts for substantially all of the de- of 115,250 barvels. The daily average production east of the Rocky mountaine was_1.336,650 barrels, a d 105,300 barrels. Californ rrels, a de- of petroleum | ¢ 43 burreis, reis for the previous week. Daily average receipts of California oil at Atiantic and gulf coast ports were 165.557 barrels, com- pared with 2 1 barrels for the pre- vious week WALL STREET NOTES. - & Doilings sub 1di- | Christmas Shopping for Securitiesg}cligible b | for Gifts Starts.” EW YORK, December 6.-~Christ- mas ghopping for investment securi- ties to be used as gifts {s well under according to New York bond volume of the over-the-counter pur- chaaes comes from this source. Waldorf System. Inc., reports sales for the-firsi eieven months of 1923 $12932.790, us compared or the correspond- Inst vear. antain Producars’ Corpor: ton has declared un extra dlvidend of 10 cents and the regular quarterly 20-cent di~idend, with Authority has been granted the By A‘h' Ansaciated Press, NEW YORK, December 6.—The fu- tlity of discussing the. International loan and etabilizing schemes until the reparations question --has bean eettled In a practical way ' wi m - Phasized by Paul Warburg today {n an address at the fifth aunual meet- ing of tho American Acceptance Couneil. Mr. Warburg, who i& president of the council, expressed satisfaction with progress made during the past Year In obtalning general recogni- tion and adoption of sound principles and pragtices in the art of making and - distributing American bankers and trade acceptances. However, he pointed out, since the bulk of bunkers acceptances are based upon foreign trade, it is <he volume ~of international commerce that determines the growth of Amer- ican acceptance banking. It is natu- ral, therefore, he asserted, to look closely into the European political situation. “It is distressing,” he sald, “to realize that modern democracles are 80 deficient in power of imagination that It s utterly hopeless by an peal to their intelligence to maks them visualize the logical inascapanly consequences of thelr course. Way to Success Bitter. “Evidently the crubl cup of waste and horrors must be drained to the | bottom before those blinded by fear and fury, or chewing their cud in fat apathy, can be wroused to realize and accept a bitter truth based on ibard facts, suffering and pain in their ;own bodies ulone will succeed, it seems, where the appeal to sanity taile “Meanwhile.” he added, “the disor- | ganization of foreign exéhanges runs jits" fatal course and the flow of gold to our shores continues with grin consistency. ‘These cl admitted, h mstances, Mr Warburg ve greatly helped Ameri- * to popularize the use of rta iof the world. There can be little doubt, he said, but that the dollar acceptance will retain fts place per- manently at| the side of the sterling i1l Tasation Immunity. Declaring he was not unmindful that the words “tax exemption" are lanathema for most people, Mr. War- burg sugs v incomes from empted from: the normal tax only for s of foreign holders and of bauks, savings banke. !insurance companies ‘and investment | corporations in the United States. {Such action, he said. would not mean the kind of exemption that is because it renders tax { immune larg idual incomes. In- stead. he eaid. it would mean the sub. stitutlon of Lankers acceptances for ingle name promissory notes and | would bring about an enlarged sup- i plv of liquld peper, which is an easen- tial. stap forward in {of perfecting the system. " Furniture INQUIRE ABOUT OUR DEFERRED PAYMENT PLAN MAKE THIS A FURNITURE CHRISTMAS . B, Ioses & Sons Established “1861 F Street and Eleventh Holiday Handkerchiefs Ladies’ pure linen (col- ors and white) corner embroidery handker- chiefs, a wonderful as- sortment of designs and colors.. Special, 25¢ each Linens Carpets Upholstery Brief Bit of Furniture History . e (A SERIES) B Gothic Gothic was the term bestowed in contempt by the classicist upon the art of the middle ages. Under the fascination of the Renaiesance the style declined, but in later years it became a matter of pride and research, especially in exterior architecture. The Gothic may be said to have received its vital force in England, and while its religious char- acter, seems most accept- able to the church it may be well used in the home. It must be undertaken by those who know it well, or it is apt 40 be full of error. Ladies’ pure linen hand embroidered colored h andke rchiefs, fine Trahiogany Sold’ ‘eXCITAHYe sheer linen.. Special, Iy h ' $19.75 39c each s < 9D Ladies’ pure linen hand embroidered boxed handkerchiefs (three in a box), price at $1, $1.75 & $2 box Men’s colored bordered pure linen handker- chiefs. vrice at 25¢, 50c & 59c ea. (Cowan) Martha Wash- ington Sewing Table; solid Ladies’ pure linen hand embroidered handker- chiefs on colors and white sheer linen, a truly wonderful hand- kerchief at 50c¢ each Tea Wagon; drop leaves; made of combination ma- hogany; the handle is of the disappearing varfety which does not interfers when used as a $25.00 luncheon table. . The Linen Shop Handmade Cluny Lace-edge Table Cov- ers, with pure linen centers, slightly soiled from handling. 45-inch Round Covers, regularly $8.75 Bleached Pure Linen each, reduced to $6.00 each. Face Towels, reg"ularllx; 56¢, special...39c eac! $6.25 Pure Linen Ta- 54-inch Round Covers, regularly $10.50 each, reduced to $6.75 each. Fireside Arm Chair or “hle Napking, size 22x22 Rocker; frame is ma- ’STHEET CAR MEN GET INCREASE IN WAGES Epecial Dispateh to the Star. PHILADELPHIA, December ployes of the [hiladelph Transit Company will recelv an hour more wages January 1 than [ General of Georgia rallway to fssuc H 0, common stock to be ex- The Dollings court i changed joun interest. to :‘\'lshlnz ¢ |l'r::1;orre:(am‘gb:>n“ Shmtaep alane {amount of the company's stock w. The action of Reading co v < {heid here at the time of the fRIIUFS. | rectore in authorising the proies om: }ing from | JBericenyine The firm maintained an office in this| cialy to fssue warrants o starne h ast year, with useful gifls Iniciry when the irnr went to the wall holders evincing the righ u 18-inch Round ' Centers, each, reduced to $1.00 each. the eight largest de; nere, ch regularly .$1.50 ‘iinches, special, $5.00 g y“$ [’ 0z. Pure Linen Table- hogany covered 340'00 velour... N greatest demand EATTLE, December . 1§ records for imports of v slik rougi thix port were broken fin ovember, when the raw stapie and ! ik g00ds to the value of approxi- mately $35.000.000 were landed. These shipments arrived boats —of the Admiral Oriental line, the Osaka hosen Kaishu and tho Nivpon Yusen aisha ST. LOU ber 6. —November cotton r here, both throuzh and local, amounted to 101,96 bale 58,363 less than in November, 19: pre- or 5 < drop s due to growers holding southern warehouses for better Since August 1 rece 7 bules, aga sponding pe 308, 0d last | December 6.—The owers’ Exchange has | Clded to start a campalgn for new | e immedfately after Christmas. . which market the 1924 crop on a © basis BOSTON. D Shoe Machin 8 a share to employ limited to twenty shares liave twenty- payments . PHILADELPHIA, December Fancy Jow shocs for women are a hig leature of ihe holiday market, The new designs turned out by manuface turers have resulted in excelient sales Py retaliers. One retailer stated today lie sales of glazed kid women's shoes ere 19 per cent ahcad of those of lust car. AGAIN TO SEEK OIL. Maryland Company Plans Further Drilling Operations. h to The Star. CDERICK, Md., December 6—In preparation for the resumption of | for oll at Thurmont, begun “auspiclously”™ 1WO years ago, i stockholders yesterday purchased cquipment of the Annie Laura Ofl and Gas Compa,n . Inc, offered by Sherift Tngomar W. Albutigh, at public sale satisf judgments amounting te 900. The sale was brought abou: by six stockholders, who claim they dvanced 83,000 toward purchasing juipment to start drilling. - C. C. Merritt, president of the com- rany, which is capitalized at $100.000, applied for a court injunction to pre- vent the sale of the lease on the “oil land” and the bulldings. In the meantime the etockholders are preparing to reorganize and con- tinue the search for ofl. DRY GOODS UNSETTLED. Market Excited by Action in Raw Cotton Market. Special Dispateh to the Star. NEW YORK, December 6.—Efforts . who are 3 ach, and who {ght weeks to complete 6.— atiops in raw cotton caused at {rrexularity in the cotton good Snar kata Trading again wag lighe, with buyers hanging ‘back. rint cloths aghin_were quoted }l 1113 for 64 by €0 ard 13 cents for 68 by 72. . raw E1% market again was quiet: with dgalers offering further donces- | 2% to 5. cents on Japancse of mllls to adjust prices to the fluctu- | N LIVERPOOL COTTON. LIVERPOOL, December 6—Cotton ~Spot in fair demand: prices easy #00d middling, 10.84; fully middling. 19.64; middling. 19.14; low middling. 18.14; good ordinary, 17.14; ordinary, 16.64. Sales, 4,000 bales, including American. Receipts, 13,000 tncludin fem; Decamber: i March, -18.95; RAW WOOL STRONGER. R i Price Tendencies Seen in Foreign Markets. Rising ateh to the Star. . December 6.-—More opti- as injected Into the local raw wool market today by continued ris- ing tendencles in the Australlan and British auctlons, but domestic buvers still are hanging back. “We cannot Tind 4 bid for 43-50s at 35 tents, al- though ~they arc bringing ~37% id one dealer todav, “but ufacturers soon wiil have to into line.” Recelpts at Hoston Wednesday were 1 ags of do- megtic wool #nd 109 bales of foreign. —_—_— CLEARINGS FALL OFF.‘ November Decline Due Entirely to Fewer Business Days. ™ NEW YORK, December 6.—-Bank clearings at 117 cities of the United States for November totaled $33, 000,000, a decrease of trom October, a result to there being fewer business days in. the later month, according to Brad- street’s. Compared with November & year ugo, clearings this vear show a gain of 5.3 per cent, and the increase over November, 1921, Is 14 per cent, whereas a decrease 'Is shown of 4.2 per cent from November, 1920, and the decline from November, 1918, iz 12.3 per cent. For eleven months of the curremt calendar year clearings at 117 cities totaled $361,321,000,000, a gain of 5.11 e entirely | per cent. PIGGLY HEARING ENDS. Receivership Testimony in—An- other Petition to Come Up. MEMPHIS, Tenn., December B——i Testimony was completed today fn the hearing of receivership proceed- ings instituted by Clarence Saunders against the Piggly Wiggly Corpora n, and_unnouncement was made | that the hearing of an Intervening| petition filed by the American Trusti Company of Nashville, Tenn., as trus-| tee, probably would begin next Mon- | day i The intervening petition was b on a claim for $1,000,000 to cover ‘loan negottated- by Saunders while! president of the corporation. Saun-; ders contends that he borrowed the money as an agent for the corpora. tion, while the corporation contend. that his claim as to agengy is invalid. PARIS MARKET DULL. PARIS, December 6.—Trading was 4ull on the bourse today.. Three per cent rentes, 54 francs 50 centimes Exchange on, London, 80 francs 8¢ centimes. Five per cent .70 france 35 centimes. The dollar was quoted at 18 francs 43 centimes. APPLE MARKET QUIET. EW YORK, .December 6 (Special). —Fresn receipts of. batreled applss l;%m New York state were ligh w15 1 ll'l‘d‘: 2(': -ln'gh I OIL OPERATIONS PLANNED. WINCHESTER, Va., December £ (Special). evelopment of the otl fields of the Sultan Abdul Hamid in Mesopotamia by the Ottoman Imperia Estates, Inc.. a Virginia corporation is planned by Robert Gray, Jr. one of the incorporators and directors who - has returned to Londom: afte spending several months at his home here. scribe to certificates of the new Philadelphia and Reading Coal and Iron Corporation: further progress in the Reading sof regation plan whereby the comgany railroad and coal propertirs w separatad. The watrants will h tributed to stockholders of 1 December and will .be avails about January 10 pressnt. This inerease. with the operative wage dividend of 10 per cent, will bring the scale cents an hour. The rate controlled by the average rate Chicago. Cleveland and Detroit. Local em- ployes, however, somé time ago voted &gainst recelving an increase, brought #bout by unusual itfons’ In those You Can Always Rely on This Famous Tread Whether you are in a mile-long jam on a slippery street, or threading a mile-high road through moun. tain passes, you ride with more confidence and safety if you ride on the Goodyear All-Weather Tread. This famous tread has a slipless grip for climbing—and a non-skid %u , and power for holding back. high, thick, sharp-edged blocks grip hard, hold hang on. They wedge tight against every tendency to sideslip or skid. For years more people have ridden on Goodyear tires than on any other kind, but the improved and more durable rubber now used in_the Goodyear Cord with the beveled All-Weather Tread is giving - thousands of extra miles of service to users whoe have discovered these Goodyear superiorities. * » ~=-As Goodyear Service Station Dealers we sell and recommend the new Goodyear Cords with the beveled All-Weathér Tread and back them up with standard Goodyear Service Akron_Auto Supply, " Mid-Wanhi Collegemen’s Serviee Station, 3730 Ga. Ave. N.W. Emerson & Orme, 24-Houg Tire Servies, 1020 A St . ureka Auto Supply Co. Tos T4th St W, Evans Bros., 1105 216t St. N. Federal Aute Supply Co. Imc, 473"Pennsylvania Ave. N.W. ;.. Gish Garage, 17th and-U 8t W Henderson & Eirkle, joma Park. Md. » B. Hundley, 3436 14th. St. N. W. H. & M. Tire ll-& 20th-and K Sts., N. W. Keller'a Service Station. Park Road and Sherman Ave. GOODSYEAR Lehman's Tire Shop, 923 H St. N.W, Perry 8. Marti: 3315 Nichols Av ton Serviee Co.Inc., 1602 14th St. N.W. el Tire and Battery Shop, 1817 Nichols Ave. 8.E. 8.E. %L Norris, 6th St. and Maryland Ave. S.W. Pemmayivania Ave. Garage, 4- N\ Hour Tire 636 Pennsylvania Ave 8.B, Seaton Garage and Supply House, 45-49 Seaton St. N.. 306 Rhede Island Ave. N.W. Security Auto Supply Ce., Ine., 11th St. and New York Ave. N'W, . “Uptown Auto Supply Ce. 18th and Califernia Stas. Vermont Ave. Service Stat Vermont'A-\'!: and L St ‘Wardma: Inn Garage, 27th and Calvert Sta. cloths,. size 70x70 in., $4.00 each. Floor - Coverings Worsted Wilton Rugs 9x12. ...8130.00 Wool Wilten Rugs 9x12. ... $77.50 Oriental Salon Mossouls Average size, 3%x5%% $57.50 and $65.00 Soumack, Iran, and Sultanabad Mats, Average size, 2x2 $10.00, $12.50 and $15 Belouchistan Scatter Rugs, Average size, 3x5% $25.00 to $45.00 Blankets $8.00 Wool and Cotton Mixed Blankets, size 70x80 inches, reduced to $6.00 pair. $12.75 Wool-filled Blankets, size 66x80 inches, reduced to $9.75 pair. $7.00 Wool and Cotton Mixed Blankets, size 60x80 inches, reduced to §5.25 pair. Spinet Desk; dull ma- hogany _finish; nickel hinges; Queen $34.50 Anne design.-... Living Room Furniture Three (3) Piece Cane Living Room Suite —French cut—velour upholstering. Price, $175.00 Three (3) Piece Cane Living Room Suite —upholstering of dark blue velour ‘and damask. Price . WO . ; ¢ Three (3) Piece Cane Living Room Suite —taupe mohair upholstering. Price. .$285.00 Bridge Lamp; antique finish; equipped with =ilk shade (variety of $27‘50 colors). . . Dining Room Furniture Ten (10) Piece .Combination American Walnut Dining Room Suite—consisting of Drapery Section Double - faced Terry Cloth, 27 inches wide; large assortment of colors and - patterns, 55¢c yard.. - 36-inch. Cretonne, floral and conventional designs, dark and light colorings, 76¢ and 85¢ quality, 65¢. . Armure Couch Cov- ers, in large assortment of combination colors, $4.75. - Tuscan Net Curtains, in plain and all-over de- sign, 215 yards long, 45 inches wide; finished . . . at bottom with bullion . fringe, $7.00 a pair. X buffet, china case, serving table, dining table, five side chairs and armchair to mateh, Price of suite..............$200.00 Ten (10) Piece American Walnut Dining Room Suite. Price.................$269.50 Bed Room Furniture Four (4) Piece Beautiful Figured Ameri- can Walnut Bed Room Suite—consisting of dresser, gentleman’s wardrobe, vanity dress- er, and. full-size bow-end bed. Price of suite .. i diasn .$341.00 Combination American Walnut Dresser, $52.00 Mahogany: Dresser ............... ..559.00_ Write or Phone For Our Parchases Forwarded Prepaid to Catologue Any Shipping Point in the U. S. \ ' INQUIRE ABOUT OUR DEFERRED PAYMENT PLAN