Evening Star Newspaper, December 27, 1923, Page 21

DENIES ANYPART | IN“STOCK MUDDLE" Southern States 0il Head Says Firm Is Not Sponsor " for Brokers. OKLAHOMA CITY, Okla., December 27.—Scott Ferris, president of the Southern States Oil Corporation, de- clared In a statement here last night that neither the company nor its di- rectors are involved in the Wall street “stock muddle” and that the concern will not permit the suspension of trading in its stock to interfere with the development of its properties and the protection of stockholders. “The Southern States Oil Corpora- tion {s in no way involved in the stock muddie in Wall street,” Ferris' statement said. “The directors are in nowise involved. It is impossible for the Southern States Oil Corpora- tion or any other corporation to stand sponsor for brokers' trading in Wall street securities. It is a busi- ness of {tself, separate and apart from | the ofl-producing business. ¥% Value Is Unchanged. “The intrinsic value of the stock of the Southern States Oil Corpora- Lipn 18 as great after being excluded from trading as it was before. The book value of the outstanding stoclk of the Southern States Ol Corpora- tion is now approximately $40 for one and the stock was only selling at $33 @ share, $7 less than its actual value. My own idea is that the tembo- rary “suspension of the stock from trading will' be resumed, but the Southern States Oil Corporation di- rectors are not concerning them- selves about that and are going for- ward to build up a great oil company : benfit of its stockholders. It has never missed a dividend, and if our present-egrnings continue, which Wwa have every reason to believe they will, we will not miss one. “The company was never more prosperous condition. Its as- sets consist of the following: 389 producing oil wells with a producing capacity of more than 12,000 barrels per day; twelve subsidiary compa- nies, in Which the ownership is from complete control to 100 per cent own- ership; 14,000 acres of actuall proven ofl 'leases and 992,950 acres of carefully selected and geologized undeveloped acreage. “A recent appraisal developed that the value of the company's assets is $19,011,677.40 net, exclusive of all outstand States Ol in a interesf Southern Sorporation will not per- mit trading or temporary lack of {rading In lts Stock to interfera with the production and development of its properties and the protection of the interests of its stockholders. v. Haskell's OIl Career. Haskell, sponsor of the ates Oil Corporation, upon completing his term of office us the first Governor of Oklahoma in 1911, left office virtually penniless, accord- ing to his friends The next year, Haskell became per- sonal attorney for Harry nclair, wealthy oil operator, afid within a few months, in the vernacular of the oll fields, “crude was running in his vein Soon he was drilling on his own oil leases and it was then that Oklahoma learned he was “getting rich.” One of his oustanding achieve- ments, as related here, was when he outwitted the field and was one of the first to engage in the Wyoming oil development in 1021. By this roke, “C. N." was sald to have in- the enmity o powerful ring and large oil interests, the latter of which later him to “name his own price” oil transactior —_— GET OIL CONCESSIONS. Sinclair Interests Obtain Rights in Persian Fields. LONDON, December 27.—The pro- longed negotiations of the Sinclair zroup for Persian oil has resulted in the group’s obtaining a Afty-vear concession to exploit the oil fields in four of the five northern Persian provinces, suys the Daily Mail's Teheran correspondent. The con- cession to exploit the Afth province is reserved for the Anglo-Persian company. South By Dad I¥’s Good! Ask Your Dealer. For Dad’s Bread, Washington’ s At Retail Dad’s COTTON EXPORTS DROP. AMER“}AN Sm-mERS e wordae "of . CAMPED IN TOKI0 November Figures Lower—Gain in Value Noted. Exports of raw cotton during the month of November dropped slightly in_volume, but gained in value, as compared with the same month a year -ago, while exports of cloth Jes lows er_in both volume and November cotton exports, |ndumnw linters, amounted to 770,002 bales, valued at $126,628,777, compared with 858,237 bales in November, 1823, valued at $109,387,719. Cotton cloth export¢ in November this year were 37,159,413 square yards, with a value of $6,154,281, compared with 45,930, 119 square yards, valued at $a143,187, exported in the same month year. For the eleven months of this year exports of both raw cotton and cloth are below those of last year in value and volume. BUSINESS TOPICS. Michigan Business Improves—Aid for Poor Abolished. Special Dispatch to The Star. DETROIT, December 27.—Emplo ment in Michigan has begun to sho an upward trend, indicating determ nation of auto factories to counduct operations. on a larger scale for spring deliveries. Banks say the high wages paid labor have been reflected in sav- ings deposits, which have averaged $1.000,000 for each week so far this year. TheJ\»r capita gain in savings is estimated at $52; POTTSVILLE/ Pa., December 2 So prosperous are the anthraci Ilr dis- tricts that it has been decided to abolish the office of investigator of the poor in Schuylkill county. At one time hundreds of families were given weekly aid from public funds through this office. ST. LOUIS, December for 560 buildings, calling far the ex- penditure of §1, 30, were issued in the first three wecks of this wonth. —_— HONDURAS TO PAY DEBT. TEG “IGALPA, Honduras, Decem- ber 27.—The Honduran government ; has signed an agreement for the pay- ment of the Honduran debt. The agreement provides that. for each bond of £100,000 face value it shall pay only £20,000 to holders of b nds 1ssued in 186 27.—Permits last | 'PHE EVENING STAR, WASHINGTON, Troops Handle Extensive Re- lief Work and- Prepare for New’Embassy Building. BY E. R. EGGER. By Cable to The Star. TOKIO, Japan, December 27.—In the center of Tokio, beneath the Stars and Stripes flying from the stump of a once |lofty flagpole, is & coiony of American | Army fleld ténts. In and among them may be seen -staiwart young men, clad in khaki trousers and “O. D.” shirts, busily engaged in such activities as oc- cupy the American Army in the fleld. Except for the absence of guns and other implements of warfare, there is ali the atmosphere of a real Army camp. The ground on which these tents are pitched is the compound where stood the American embassy hefore the great Quakes and fires of September 1. The embassy buildings are now only a pile of debris, but in the cleared spaces in orderly array is a group of thirty-five tents ‘of various sizes. The men who live in them are American marines, sol- diers and sailors, who have occupied the site since the home of Ambassador Cyrus E. Woods was destroyed. To those who know Japan such a sit- uation I8 exceedingly strange. And the fact is that a precedent has been set, for never before since this country was opentd to the world by Commodore Perry has a_detachment of the armed forces of another nation pitched its tents on the soil of Japan. Center of Americdn Relief. The stationing of the American de- tachment in Tokio is part of the exten- sive American relief work. Within a very short time after September 1 the American Asiatic squadron under Ad- | miral Anderson was on the scene with supplies the value of which was sover 2,000,000. The American Army in the { Philippines also arrived with supplies having a total value of $6,000,000. While the bulk of these supplies was turned over immediately to Japanese authoritles, a certain amount was re- Americans and other for- Moreover, the American of- PLANS FOR 1924 M your plans for ORE sales, better production, cleaner credits, smoother financing—whether 1924 include one or all of these advances, they should include a strong banking servant. We are constantly alert to increase our use- fulness to existing customers and to attract new customers by showing them what better banking facilities can do for them. Include a visit to this Bank in your plans for 1924. Federal-American National Bank 1315 F Street 4 G-lllln. Board Ahdufiumy,ilhumudmcoh.d'th marvelous roadway between'Globe and . Phoenix, through [the mountain-land of the * Apaches, passing Roosevelt Dam and the Cliff Dwellings, Here the wild Apache warriors - once held undisputed mastery. Here the Spanish ¢ search of fal istadores fought their way in treasure. And now between walls of bronze, through giant canyons of color, is a motor road that is one of the wonders of the West. An idesl side trip to include on pum'yvudn t'CZalu"cwmu ‘ Write today for this beawtiful bookles SOUTHERN PACIFIC LINES A. J. Poston, General Agents, Passenger Dept. 165 Broadway, New York—Room 2015 ws Kindly send me free of charge s copy of your booklec S THE APACHE TRAIL OF ARIZONA™ N. ADDRESS anxious regard- Americags, and sent detachments of soldiers, sailors jand marines ashore at Yokohama as \vell s to Toklo, ~The efficient serv. ice of these men has been related. When the emergency had been met, however, It was found advisable to keep a group of men on the ground to asiat In further rellef work and ald forelgners in case other emergen- Cles might arise. Thus the “Amer] embassy camp” came into existence. The personnel of the camp Is unique. The commander is Capt, Wil- liam Bughanan €ullivan, United States Marine * Corps, a native of India- napolis, Ind., American embassy. Assisting him as chief engineer ix Capt. V. J. Wagoner, United Stater Field Artiilery Reserve Corps, of Los Angeles. The other members of his &taff are Ensign A. H. McCollum. United States Navy. camp adjutant and commissary, and Ensten T. J. Ryan, United States camp quartermaster. The en- Neted persinne Taautte ok me rines from the detachment of the United States steamsnip Huron, flax- ship of the Asiatic squadro So1hlecs from the grmy Lt the Bhiltys pines, and one sailor attached to the American embassy. Thus avery branch of the American armed serv- lce Is represented in this first “army of occupation” In Japan. The hectic days immediately follow- Ing the disaster saw the American de- tachment — then much larger than now—one of the busiest groups of re- lef workers in Japan. American de- stroyers were conveying supplies from Yokohama harbor to the water front of Tokio—and, imcidentally, transport- IHHIIIIII!IIIlIlIlI!I\I\IIII“ Style B-1401 Prilliant, vari- Paisley velvets and me- tallic brocade. Style B-21 and an attache of the| D. C, THURSDAY, DECEMBER 27, 1923, ing British, Italidn and Prem:h sup- plies and personnel, t merican de- stroyers being the ot foreign vessels on the sgene. hy front American motor-lorri ca the supplies to distributing stations over Toklo, while the men were bus- ily engeged in opening distributing stati in the Imperial hotel, on the embasky grounds and. elsewhere. After all emergency needs had been met, large supplies of food, clothing and tenting were left, and it was de- clded to concentrate them at the camp on the embassy grounds. Large wup- | ply tents accordingly were erected be- hind the living quarters and today hold bedding, clothing and food suffi- cient to tide over any needy foreign- | ers during the com(ng winter months. | Applications for supplies are made and passed on at the embussy headquar- térs in the Imperial hotsl and are | then filled ut the camp. America's “combined forces” are preparing thelr winter encampment, and theoughout the coming months, when construction work on the new embassy is impossible, the men will | “police up” the compound and make preparations for hastening the erec- tion of the new buildings. Relief sup- plies will be doled out to the necdy and every effort will be made to assist both forelgners and Japanese. But the embassy compound is not | the only place In Tokio where Améri- can army. tents are pitched. Just across the street may be seen a group of the familiar canvas tops, with a board sign announcing that| they wre "(_hrlnlun Science Rellef | Headquarters.” There severul work- ers of that denomination are doing IIIIIIIIIIIIHHHHIIIIIIIIIIIIIIHIMI!MIIIMIIIHI!fllIIIIIIIIIIIIIHIIIIHIIIIIIIIlIIIHIflHIIIlllflllllflIIflHlHlllllfllllllllllll ‘ can Red Cross. through the gift of these tents. e Tt Near the -~ spot where formerly stood central ‘police headquarters is ahother group of these khaki tents, Yes, American army tents are today the headquarters of Toklo's police, Here and there aboat the city will be sesn other tents housing eme! gency hospitals given to the Jupan- TOATE IN THE DUSK throughout kitchen with several 'HE fish cakes that make New England fa- mous. They’re the original ready-to- fry fish cake Made from fa mous Gorton’s Cod Fish—No Bones. Look for the cheerful blue- and;yellcw can. WVashington, D. Hahn's start a stupendous SALE! 15,000 pairs of their very finest women’s low shoes, reduced from $10,$12.50,$13.50 and $15 to colored $7.73 12 Black or Tan Nor- wegian Calf. leather. Style B-19 Black Satin. Brown Suede. Black or Patent $7.75 QZENS of other styles besides those pictured. A sale so sweeping that it includes a large proportion of our finer stocks of shoes for literally every purpose! 27 $7.75 Evening Footwear Silver and Gold Brocades Paisley Brocades and Velvets Satins and other materials Style B-8001 Patent Leather, Black Suede or Satin. Style B-1071 Afternoon Footwear Gray, Black, or Brown Suedes Patent and Black leathers Satins, Velvets and others Walking & Sports S}hoés Black and Tan Suedes Black and Tan Calf - Patent and other leathers $7.75 Black or Brown Suede or Velvet, Mat ‘Black Satin or Patent.’ Style B-1077 Black Satin, Silver and Black Gold Brocade, Suede or Patent. Kid, , ; i Begins tomorrow morning at our iree Downtown Stores only--- gor. 7th & K 13 18-G. St. 414-9th St. $7.75 ; I T their bit—their efforts made possible | €8¢ Red Cross Society by the Amerf- | wooden dining the devasted | American Y [area are visibie 8igns of the generon- |large placards in Jupunese churueters Ity ‘of America toward her neighbor ucross the Pacific. In Tokio's main thoroughfare in front of the Imperial Hotel stands an American army fleld tentn room Above the kitchen are to the croused flags rear, the and Japanesc and announce that “This fleld kitchen was used by the American army In the world war, but now har been given to Japan s a token of sympathy in and alour great aMictio i it i Style B-1369 Rare imported Paisley Brocades and Velvets. Other styles in Gold and Silver Brocade. $7.75 Style B-1210 Paisley Brocade ning shoes in several ra diant colors. $ eve (.00 Style 9008 Otter Brown or Gray Suede. Patent, Gunmetal $7.75 S$y1e B-1056 Black Satin, Brown Suede or Patent leather 5 $7.75 Style B-8273 New Colonial Pump in Black or Brown Suede: $ (4D Style B-8093 Black or Brown Satin, Brown Suede or Patent. $7.75