Evening Star Newspaper, February 23, 1924, Page 11

INANCIAL, Ee— INAND WATERWAY LANS ARE SEORED Cdnadian Shipping Fears Loss of Two Much Water Frem Great Lakes. HY J. . ROYLE. Special Dispuiel to The NEW YOR ¥ ) I'he velopment inland waterways frelght carriers and for buwer pur- poses, which has assumed such pro- portions and importan throughout both the United States and Canada. is finding considerable active opposition from certain shipping interests in the Domini hi anal. bruary of us has had much to ans past, ix blamed to a b n. the extent for this antag The tmportance of these new water- wavs developments for all sections of the United States becomes evident when it ix known that one-third of ail the shipping now under construe tion in this country is in the yards of the Ohlo and Mississippi valieys and on the great lakes, and that practi- cally every baste industry is prepar- Ing to increase use of waterwuys for transportation of raw and finished produe Why Canada Protests. Canadian epposition as outlined by Robert W. Redford. president of the Shipping Federation of Caada, is due the the harbor treal able nism loss n depth of oy ace at ford charzed tional treaty pe take only 4157 cubi water per second from Lake M the sanitary district has been with< drawing an average daily flow from the lake of §30.000.000 cubic feet, or about the entire low water flow of the A i at Paul. Continuous withdrawal ount, he usseris, would result lowering the levels of Lalkes 1 and Turon five inches or more t of Lake Erie nearly as much, 11 would redu perm oad of litke vessels from | 50 tons f ocean-going v reaching o h more, This hus soliditied gonism in some quarters th Lawrence alization project v it is pro- »sed_to completa i unction with the United States neroachment Rights Seen. here is no doubt that the continy ed diversions o from the § Lawrence chan the Chicago drainage canal commission is an en- the rights “anada international waters dford said. It is illegal and unjustifiable and | trust ail pub- lic bodies throughout Canada may brought to an appreciation of the damaze it i= dolng to t in artel of Canadian transportation and be insistent that this qu n is sat- ~factorily settlod befor, ring into further ne e of the S0 Lawrencr ment of water powers the United States zov Another enormous project velopment of wi ar powers now_is | parliament. This s the building of & deep tween Montreal and Ottawa riv Ly the Confeder: or Company. Large York and ¢ nd the 1 in Canadian suses will ha the project, wh neighborhood of Another Plan Also Opposed The promoters of this new proposi- tion urge that ocean-going steam- ships would be enabled to proceed as far inland as Ottawa with consequent saving on freight shipments. but the main object of the scheme undoubted- ly is to harness sufficient water- power to provide for the industrial development of Montreal and the sur- rounding districts. This plan is also meeting with of nosition, first, bec pponents say it could net be financed by or Canadizn caplial, ccond, be- cause they claim samships would end their trips at the head of unobstructed navization even though they might proceed further through canals. Shipping int whi nydraul from % to @ whi mits 111 feet of higan, of th in i 0 to cels wat by ent the on o ent develop- wit nd the thereon nment.” 15 for de- the Canadian provides for on o mile: n nd_Pow- finunciers of to be t cto 1 neing )st in the sts generally regard the new plan as dangerous, contend- ing that if dams and power plants are constructed there will be a tend- ency to store up water during off- peak periods, which would cause aangerous fluctuations in the water levels of the St. Lawrence at and below Montreal Ask Your Banker How much real value stands back of the stock you are asked to buy? Are you sure that the nice, honest- looking stranger is telling you the truth? Ask your banker to 100k into what he claims. & FRANCS LEGAL TENDER. May Be Used in Paying Debts in Spite of Depreciation. PARIS, February 23.—French pa- per francs. regardli ss of their present depreciated value, have been held b he court of appeals to be legal tende “or_the payment of domestic contract: Iting for zold. The decision re- verses one by the eivil tribunal which «ld that a landlord’s contract called or payment of rent in gold or silver. The court of appeals referred to the war-time law absolving the Bank of Franee from redeeming bank notes in gold and ruled that citizens like- wise had a right o pay their debts n paper money. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PETERSBURG, Va, February 23.— | ‘Thére are still a few weeks of the 1923-1924 tobacco season, but the sales thus far exceed those of all last season. Then 6,000,000 pounds of bright and dark changed hands here. So far this season’s business totals 6,500,000 pounds. “HOUSTON, * February 23.—Tomato srowers in east Texas are enthusias- tic over the prospects for the spring crop. Hundreds of acres now are be- ing prepared to receive the young plants from the cold frames. ATLANTA, February 23.—Southern mills are not pessimistic over the cot- ton goods outlook, although they are operating cautiously.. T. K. Glenn, president of the Georgia Cotton Man- ufacturers’ Association, today denied that any general curtailment was in prospect. PITTSBURGH, February 23.—Coal operators of part of the Pittsburgh district and throughout the West- moreland county territory and the fields near Altoona are experiencing a1 moderate car shortage for the first time this winter. As a result, pro- duection is off slightly. ST. LOUIS, February 23.—The Gard- ner Motor Company’s contracts with agents so far this year call for deliv- ery of 17,645 cars HEBRONVILLE, Tex.. February 23. ——About March 1 steers will start moving to market from this section in traiuload lots. The majority of the cattle will go to Kort Worth, al- though some will be sold to Houston or Orleans. Rains and warm spells have brought feed up well, de-t be for canalization | water | Roston bond | of | ¥nglish | | { | By w NEW LLIAM YORK, February with buying operations absence of many traders iy, Oil shares nd many of these st were Pruivie Oil and ¢ 5 voints from the Standard of Indlan Refining at . agu 217 Thursday. were jextent of the upward today's Lrief session. W YORK, an ofic as at Thurs: at nst NE ing i traded ket toduy : Sales in February the New York BONDS i, Packers Gs.. 6 Puckees < & El : toll” it | ,. 10 Cont 3 Deere 1 Detralt 19 1 Eisher | 3 Fisher Bod T Fisher Ry 1 tair, Robt Gulf Oil & Iuter Mate 1 | 1 Lig Win Lig r es 17 Mark St iM 3 3 Pub Pure OIl Co Blun 2 Nloss-Sheft s Sun 0il 7§ Swift & Co “Tidal Osage Tn Ol s B 7 Un Ol Prod Tu By of 1 Vacuum il Viee Ry 6 Web Mills a STANDA 00 Atigle Am Oil... 40 Rorne Scrvmser 80 Buckeye P L...... Chesebrough Mfx 200 Continent Ol niew. tand P L. i Ulinois P L. 130 Tmp Ol of ) Tndiaug 1300 Intern able 0 & 1t new 01 new fan rie O & Gas. | rie PP L. 45300 Vacoum Ol now sales i hundred 1 Carib Syndi 4 Cit 13 Cit 2 Cit ingineers Pet . Pet Rock oi 0it Prod . 1 00l vat cis 1 Margay 14 Monnt 96 Muty 'y Nat SALES Washinglon Gas Gs—$500 at 93 Waslington Gas 6 ' Capital Traction 5s Washington Washington at 49%, 20 at 4 Tnign Trust ¢ 5 at 1655 Real 138, 0 at 96 y. & Elec. pid. ~ Light Co. 93, . “0.~-10 at 1651, AFTER CALL. ction Co.—10 at 95 Capital Tr C 9515, Washington { BONDS. i Bid and Asked Pri i PUBLIC UTILITY. American Tel. & Telg American Tel. & Tel { Aw. Tel. & Tel. ctl {Am. Tel. & Tel. co & Potom & Potom: Telephono hone of Va. at Gas y Georgetown Gas 15t SELLLLL I Metrupolitan R. R. 58. Potomne Elee. 1 Fotoma s 3L Potom dob. 68,1100 | Votomac Elac. 6 1968 ec. Pow. . m. & ref. 7. Wash., Alex. d Mt. Ver. Gs.... } Wasti, Ales. & Mt Vern. cfs Annap 58 p. G Riges Realty Ttga: Realty 53 (short). Wash. Market Cold Storage Gs. Wardman Park Hotel 8&....... STOCKS. PUBLIC UTTLITY. n Tel. & Telgi Rwy. & Klec Rwy. & Elec. pfd. “Perminal Taxi com...... NATIONAL BANK. Commercial District «. Varmers ‘& Méchanics Federal-American .. e i o National ‘Metropoiitan. I(lll‘fl | Nat Bauk of Washington.. TRUST COMPANY. American Security & Trust... Uentinental ‘Trust.. ‘!:aon.l Savings & Trust.. Unton Trust.. Wash, loau &' SAVINGS BANK. . Commerce & Savings. East Washington. Security Savings Seventh Street. United States. Wasbington M American Corcoran Firemen's Nationsl Un TITLE INSURANCE. Columbia Title. Keal Estate Titl MISCELLANEOUS: Mergen 0ld Dutch Market com. 14 DutehMarket pfd Yaanston Monotype. Qs who . up over | @eclaved day HEFFERNAN. —~The curb market closed the week strong, and covering still in progress, despite the short were {taking advantage of a three-day holi- the favorites, s0ld at their high- on the present recovery. —ollot C 2300 at 1004 tr at 10 at ate Title Insurance Company. ces, B, 1 list of bonds and stocks b Mar- Washington Stock Exchange. 414 10 at 49%, 20 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office the close of | und amples of the | movement in | points 1851, ¢ 5 at Light Co.—3 at 49% Asiced. — THE KVENING STAR, WASHINGTON, The in Chese- one of th sharp advance hrough Manufacturing. Standard_ Oil subsidia appeared to have run its course now that the good news regarding a 100 per cent stock dividend Is out. A special meeting of stockholdérs has been called for March 20 to vote upon & change in the capitalization from $L500,000 of $100 value shares, tp $400,000,000 in shares of $25 par! value. Tl 1y divi- dend of § 5 w0 | points _ of and New Mex- erican Light Kresge De- Silicia Gel slmost - 2 Cust Other outs ngth we co lund aronnd Truction around 1 partment Stores above voti rust certificates up ntrifugal L k O . tank 011 new Can Ol & Ref salt Ok Salt Ok Sapulpa INDL Am L & Tenet Am SMultigraph Co ArehDan’ Midland Atlantic Frait wi Borden & Co n Khoes Inc. dieport M trit-Am Tob entrif_Iron T Cuba € i Clai Davies W L& W Dubitier ¢ | i i 1 Jordan Mot 5 Kresge Dept Stores Lehigh Power sec. Ieh Pow new w i . McN & 1o new Steel w 1. Mesabi Iron Midvale Co Mot Prod ¢ aige Motor .. Park & Tilford ul Gil P C N vot Exports i it i mer iges snnel Cop Min WHEAT AND CORN GAIN DURNG WEEK Dock -Strike _Settlement Is Only Real News Bearing on Grain Situation. By it Associnted Press CHICAGO, proach of the time when crop scares are to bo expected has done a good deal toward lifting the value of wheat this week. 'ompared with ek ago, wheat this morning was 1 te £% cents higher, corn Hal: to 7% cents up, oats at % 1o 1% cents ad- vanco, and provisions runging from T-cent decline to a rize of 2 LS. Strike Settlement Helps. In addition to dwelling on th, that the first definite evidence Ama to the winter wheat crop is usually disclosed within fortnight from this date, traders the buying side of theywl showed themselves inclin Phasize forecasts thit farm reaerves ST-NHeal in the Dukotas, Minnesota: Nebraska and Kansas on March 1 total perhaps less than half as mnch as the case was i year previou: Assertions that spring wheat seeding would be curtailed to a decided ex- 1Nt and that the import bty an Wheat would bhe raised before th. o in of lake navigation were also enhiance pris ttiement r ~Neaur @ Corn Litersl eheek trac i pric avy n ipts Liberal. receipts of corn w z the corn marker. = sal on the part holders was a further despite scantiness of the Chicago stock of corn amd notwith- flanding reports that country eleva- ors in 1llinois were als v b tors in 1 re also nearly bare Oats developed than corn did. of oats again place. In the for lard Europ, for hig rs ance in profit-tuki 1o largc alittle more strength . Considerable buying sales of corn took provision market, better call Wwas something arrivals of hog LEITER DENIES GLAIM MADE BY SISTER Chicago Capitalist Says Duchess Is Getting Full Share of $100,000,000 Estate. of an o L Ity the Assorinted Prass. Hardshell Min Lidepeaden v romy v Jib Cons . Kelly Ext Kerr Lake Metals P ) Mahican 1T nolia Dominion Hills Mine Cap | a3 i | v 10 Standurd S ok Hu 1 1 Tone Rel FRENCH EXCHANGE IN SHARP RECOVERY By the Ther ot Lor S old Assoclated Press. NEW YORK, Februars recovery of French exchange followed passage by the chamber of deputies of Premier Poincare’s entire taxation and plans he price of the franc at the opening of the market soared 12} points to .56 cents, almost 30 points above its re- cent record low level. Belgian frunes galned in sympathy and demand sterling also strengthened today economy SAYS WASHINGTON'S | fluence of the life of George V | president of the American Bar Asso- INFLUENCE LASTS Bar Association Head Declares Tendency, However, Is Away From First President’s Ideals. ) in- h- ington and of his principles through- out the life of the American people was declared to be a wotent one by Robert E. Lee Saner of Dallas, Tex., | 8T. LOUIS, February ciation and chairman of Its commit- tee on American citizenship, in an ad- dress here last night before the Sons of the American Revolution. “The influence of Washington throughout the life of the American people has been a potent one,” Mr. Saner said. “It seems, however, that we are depatting. from those princi- | ples for which he fought so gallantly | and so bravely, and 1 desire to take | you back to his conception of the ob- ligations of the American people to ! the government and to the Constitu- tion,” realizing that this was his legacy, hnd that if_our nation is to endure’ we must understand and pre- serve that legacy. e LIVE POULTRY LOWER. CHICAGO, February 23—Poultry— Alive, lower; fowls, 21a24: springs, 25; roosters, 17; geese, 14 BUTTER PRICES DROP. CHICAGO, February 23.—Butter— Lower; creamery, extras, 48%a48%; standards, 48%; extra firsts, 47%a43; firsts, 47473 ; seconds, 46a461; Eggs—Lower; receipts, 23,380 cases firsts, 29%a30; ordinary firsts, 27a2s. HECLA OMITS DIVIDEND. NEW YORK, February 23.—The Calumet and Hecla Mining Company today voted to omit the quarterly dividend of 50 cents due at this time. RS U. S. TREASURY CERTIFICATES (Quotaticus furnished by Redmond & Co.) lose. Bid. 43is March 13, 1024...... 100 4148 March 15, 1924.....0 100 45 June 18, 1824.......0 100 G%s June 13, 1924... 5iys Beptemter 15, 1834, 41(s December 15, s March_ 15, 13s June 1. 1925... %« December 13, 1925, 3 Offer. s March 15, 1026, iys Sebtember 15, s Mareh 15, 1927 14s December 15, Six of the Norses entered in the Kentucky dechy arsowned hy women. } Leiter, ldenied the | Marguer, ch | [ 1essen the CHICAGO, ‘ February icago supplemental bill filed arge of his: Hivde, Duchess of England, that he ccted to pay her her proper share of the incom. 00 of their Leiter. Lady ated bt in ter. Lady of Suf- folk and had nes estate father, Levi Hyde that checks in from, her recent petition had refused to ac Wiiliam 1.V ised to the estute. and Lord Curzon. former Frit- inister for fore Taire, on f 0f his daughiers, nieces of Joseph Leiter, have charged Lélter with mismai nent of the estate az: BANK DEPOSITS GAIN. | Increase of $17,000,000 Reported From Ontario, Canada. TORONTO, A further ine: Ontario prov reported at th totil Canada, February in deposits of the aving offices is January. While not yet availabl is credited. with cresate of de- $17.000.000 at that i ITEVIOUS Toturns were October 1923, when deposits wmounted (o $12.682.991, which pares with total deposits of §2 at the end of October, 1022, TEACHES WIFE-CHOOSING. Y. M. C. A. to Give Bachelors Course in Selection. NEW YORK, February elors will be taught how to solect the kind of wives in a six-week at the Birooklyn V. M. C. A M. Gibney, director of edu- activities, announced y The course will give the bney said, a onomic, physicological and psy- ogical aspects of marriage as well as training in the care and edu- cation of children. iarnest bachelors only are eligible for the instruction, DEMAND FOOD COST CUT. 50.000 Take Part in Lisbon Dem- onstration. February of living and improve the public administration were de- manded at a huge demonstration last gbt. Crowds estimated at 50,000 persons marched to the government and parliament buildings. Premier Castro, speaking from a window, as- sured them he would attend their claims. The shops were closed dur- ing the demonstration. BISHOP IS BURIED. Presiding Prelate of Episcopal Church Interred .at Dallas. 85,04 —Bach- urse Carroll catiol ay. man, the « DALLAS, Tex., February 23.—Bishop | Alexander C. Garrett, presiding bishop of the American Episcopal Church, was buried here yesterday following a series of religious services through- out the week. Bishop- Garrett died Monday night. The funeral service was held at St Matthew’s Cathedral and the Tes- ular_burial service of the Episcopal Church was read. The service at the grave was brief. MARCHES UNMASKED. OKLAHOMA CITY, Okla., February 23.—The Knights of the Ku Klux Klan of Oklahoma and several sur- rounding states stagetl a mammoth parade on the downtown streets here last night, the marchers being un- masked. The marchers, however, were attired in the eustomary robes and hoods of the order. 31,000 GET NEW JOBS. DETROIT, February 23 (Special).— Industrial employment here this week Tose 142 to & total of 241,544 This is_about 31,000 more than were em- ployed at this time last year. The average. weekly gain since January 1 has been about 4,500 workers. MAKES 20 CARS PER DAY. CLEVELAND, February (Spe- cial).—The Peerless Company Is turn- ing out twenty eight-cylinder cars a day and would double that numbe: according to officials, but for difficulty in_getting materials. The company expects to be in moderate production of * the néw six-cylinder model April 1, o | fact | i > be shipped to'continental | of the $100.000.- } z| {mittes for the payment —Measures to | G, SATURDAY, FE BRUARY' il Probe Used to Halt Stocks | In Too Rapid Forward Move Part of Fear Over Further Tumble in 23, 192 Values Has Subsided—French Francs . Become More Steady BY STLART P WEST. i 10 The Star. | February 23.-1t is) said of the stock market the past week that there has been| {little relation between price fuctua- tions and gene: Stocks, at last month’s top, were, for | the time being, too high. facts of the situation justified. A moderate degree of overspeculation 1 crept in. These circumstances alled for u good reaction re- gardless of the fact, that the trade outlook continued In the main favor- and the banking exceptionally strons: lative interests which optimistic @ sized able sition Certain spe had been extravagantly up to a short time ago, predicting 1l sorts of good things for the rkets of 1924, seized upon the “oil seandal” as a reason for reversing their attitude. Real Values Little Changed. The oil inquiry gccupied commanding place in the news of the d: fit in market first 1 tually ters it w nothing w brought out have great off u In the condition the speculative structure was two months ago before there had been a lot of important distribution of stocks it 13 doubtful if the matter would bave had any in- fluence at all. But the market of ten days ago, being overripe for re- action, was ready to magnify any- thing unfavorable that happened to come long. Within the the stotk of the t ac- the break of what most Wall str But in responsible guar- realized all along that ‘h had been or would be t Washington could t upon scourity val- with it This stories o did it tast days things d credit po- | that it was the obvious thing to | ot |of the business conditions. { w B ¢ had|C h They had | pecn (oo great for French patiencs and gone up faster and further than the | patriotism to stand. | themselves sol ement over the California subsided French Frane More Steady Toward the en £ the week the W franc. steadied somewhat, after have righted ind the exe e and partly oil ¥ havin, cords for all U rgin in the s WEEK SEES PRICES By a very Washington Developments Are Biggest Factor in Bear Attacks on Stocks. i By the Associated Press. NEW YORK. Februarry Reac- tionary price movements continued to predominate in this week's secur- and commodity markets. Alternate periods of weakness and ngth characterized the stock mar- cet, which was subjected to repeated attacks based largely on politi- lcal developments in Prices were headed upward again to ward the close of the week. news generally was of a constructive ctock market character. the principal | } for this season of the ve expan g steel opera- { n: nd higher pper prices. i Bond Prices Reactionary. { PBond prices were reactio . pre- isumably on the withdrawal of | port afforded in coanection with the Japanese government loan. which was oversubscribed by $100,000,000, and |Ihv- substitution of the Sarn tax 'r<‘durnfln plan for the Mellon plan by {the House of Representatives. Foreign exchanges were decidedly weak, the French and Belgian cur- rencies establishing new low records for all time on speculative selling un-~ {doubtedly influenced by the delay in {adoption of Premier Poincare’s iiscal {program. Sterling exchange was ad- | versely affected by the dock workers' | strike. All European currencies showed signs of recovery toward the lend of the week on-the {'ment of a plan by the experts’ com- of German reparations and the settlement of the i British dock workers' strike. Brokers' Loans Reduced. Dividend news was rather mixed, Lreaking carloading {the increase in the annual rate on| ; Gulf States Steel from §4 to $5 being {oftsct by the passing of the quarterly | payment on National Enameling Time money and commercial paper held relatively firm around 4% and & per cent, but call funds dropped to 4 per cent on the New York Stock Ex- change and were obtainable as low as 3%, in the outside market. Bankers reported a substantial reduction in !brokers' loans in the last three weeks, the total now being estimated around 1$1,380,000,000. o $1,500,000,000 SPENT ON EDUCATION YEARLY Educator Declares Sum Must 3e Increased—=Says Tobacco Cost i Is Greater Annually. | By the Associated Press. { CHICAGO, February 22.—Public education in the United States last year cost $1,500,000.000, J. W. Crab- tree, secretary of the National Edu- cation Assoctation, declared here yes- iterday on his arrival to attend the etings of the department of super: intendence. - “And . it will cost a great deal more than that annually to provide for every boy @&nd ‘girl with a well qualified teacher at least six months of the year,” he added. Answering the charge that school axpenditures have become a burden to taxpayers, he declared $2,111,000, 000 is paid annually for: tobacco, $1,800,000,000 for candy, soft drinks nd fee’ cream and $3,000,000,000 for ‘joy riding, pleasure at resorts and races. D FOREIGN OUTLOOK BETTER arations Issue. Bpecial Dispatch to The Star. = NEW YORK, February 23.—The anxiety that was felt by some with re- spect to conditions in- Great Britain { under the labor ministry of that country has now been largely laid aside, and {in place of it there has been a develop- ment of confidence. -As for continental | aftairs, says James B. Clews, the in- | dications now clearly are that the rep- | arations experts will report in favor of | maintaining a_substantially heavy Ger- many_indemnity payment based upon payment will be held to be out of the question until there has been & restora. tion (complete or partial) of economic and, particularly, financial soundness in Germany: This will: involve the crea- of fofeipn exchange, G0 STIL LOWER Washington. | Trade items being a continuation of record- | sup- | the findings aiready tade, but thiat this'| | sion_of paper m = plunged downward to new low | sions which Mender | French te and by a greatly | months, E ’| son avenue and 38th street, in which Jclub quarters have been assigned to Clews Sees Progress Made on Bep'-k E by |tion of o new gold bank and the sta-~ but the ‘average so far ‘bilization S eh o Wiether this will be sufficient. Two { months { Federal {to complete an abstract of testimony | Cayugas in Otttawa county. and the| | them announce- | chumber was_uphe th its pro- The attitud toward the 20 increaze will not be d termine er, until the sp elections. it will be decided one ay or the other whether this new tax burden, on top of the tremendous in- cuse In the cost of living, will have reduced deputies, so far gram maljopity in the the government as it has gone of fiscal reform. rench people per cen The latest decline in franc indicat- ed anxiety on this point, -It dicated distrust in the authori for the last have the French pub! into the belief that the downward movement wias not war- ranted by budgetary conditions, when it was. Just bef i entry into_the Ruhr the fi was selling it 10 cents, A dittle over twelve months loter it had sunk to 4.07% depreciation of 45 per cent. ew French Securities Inevitable. The 20 per cent tax increase and the curtailment in reconstruction work will contribute five billions to- ward helping out the French treas- ury position, but the question is 0 it estimated that the extraordinary credit, which, until re- cently, the French government was charging up to a visionary German repurations, would amount to nearly twelve billions in 1921, and that, add- ing in the loans of ontside organiza- | tlons like the Credit Nationale, totul extraord outlay would lions. cut these proposed expenditures down only one billion, increasing revenue through taxation by four bilions. 1t is hard to see. under these circum- Stanoe: how further resort to new security isues can be prevented. Too Many Loans Made. On the subject of these internal loans and the part they have played in dragging down French finances, a recent editorial the newspaper Echo de Paris had this to say: “For five ars we have been practicing loans as Germany practiced the emis- pey. Continual bor- | continual ue of | rowing, like the paper, means inflation This very frank analysis of situation is refre. after the m of foolish and o wuous expres- e n coming from | sources the last six | iss i the | ass | i1y ! be for COST BONDS RAISED. Piggly Wiggly Abstract of Evi- dence Proves Expensive. { MEMPHIS, Tenn., February : Cost bonds in the suit filed by Clar- ence Saunders, former head of PIgglY Wiggly, against that corporation, secking the appointment of a re- cciver, were raised from $13,000 to| 330,000 vesterday when C. L. Marsil- | liot, master in chancery, reported to | Judge J. W. Ross that at least two months would be required presented at hearings recently com- pleted. e $12,000,000 INDIAN SETTLEMENT OFFER 500 Senecas and Cayugas Would Receive Sum From New York Claims. | 1 ! i By the Associated Press. 3 MIAMI Okla., February 23.—Ap- proximately $12,000,000 will be paid to the Seneca and Cavuga Indlans of this (Ottawa) county by the Six Con- federated Indian Tribes ofNew York, £ they accept an offer made to them | by George Thomas, chief of the New York tribes, in settlement of clalms to lard owned in New York by them | prior to their migration Years ago to Oklahoma, accor to announc ment by J. W. Lartholomew, local atiorney, representicg the Ottawa county Indians. Chief Thomas and El Skinandore. an Oneida, and-a cabinet officer of the Confederated Tribes, are here negotiating with the local tribesmen There are about 500 Senecas and | astern Indians have proposed to pay | $22,500 each in settlemenat of | 1,000,000 acres in New Yorlk, accord- | ing to Bartholomew's statement. | Thomas and Skinandore cgme here as a result of Bartholomew's appear- | ance before the six nations con- ference in New York last June. and ! at a conference held by the six tribes | in New Yotk from. January 21 to! February 9, it was ‘explained, the! eastern Indians voted to accord recog- | nition to the Oklahoma tribesmen. | Since then further negotiations have | resulted in the offer to adjust the land claims, according to the con- | ferees here. - e 17 FRATERNITY CLUBS OPEN 17-STORY HOME | .New York Structure Furnishing Meeting Place for 6,000 Greek-Letter Men. By the Associated Press. } NEW YORK, February 23.—The, New York Fraternity Clubs buildinsg, | a seventeen-story structure at Madi- seventeen Greek letter college fra- ternities, was opened yesterday. The building, which houses also the | Cornell Club of New York, is designed ! as a meeting place for the 6,000 men | who are members of the societies rep- | resented. Some of the fraternities| have established their national head- | quarters there. FLOUR FIRM EXPANDS. ‘Washburn Crosby to Build Another Huge Grain Elevator. Special Dispated to The Star. 3 KANSAS CITY, Mo., February 23.— The Washburn Crosby Company of Minneapolis announces that it has be- | zun construction in Kansas City on an .dditional grain elevator of ~750,000 | bushels capacity ‘adjoining its local | mill and 500,000 bushel elevator. i Kansas' City is the largest winter ! wheat market in the world. With the new elevator the city will have eleva- ior storage capacity of over 28,000,000 bushels, the fourth largest in the coun- try; being surpassed only by ¢ 0, Buffalo and Minneapolls ‘Washburn Crosby”s Kansas City milll has a capacity of 3,000 barrels of flour | a day- The new elevator will bring its_tofal wheat handling capacity up | to 200 cars a day, and will further en- able the company to overcome freight problems in supplying southwestern flour to all points. — o COAL SHIPMENTS DROP. ST. LOUIS, February 23 (Special).— The interchange of freight cars by the Terminal ; Railway Association here has slackened, due principally to the decline in the movement of coal, this moath has bean around 7,100 cars a dax. - P |'l'homu J. Fisher & Company, Inc. LRI AR LRI L LML) s FINANCIAL, T * 11 Banking Trust & Mortgage Co. We want good First and Second Trusts Washington and Vicinity— Reasonable Terms—Prompt investiga- tions. Call or write, { Banking Trust & Mortgage Co. Rooms 20-21 1410 G St. N.W. Phone Franklin 6794 1% First Mortgages | $250 and Up | Write or Call for “Booklet.” William S. Phillips 1STH ST. AT K N.W. Mals 4600, Money on Hand to Loan on Improved Real Estate First Trust Only JAMES F. SHEA 643 Louisiana Ave. NW. First Mortgage Loans Lowest Rates of Interest and Commission Prompt Action 738 15th Btreet T o o o Prominent Real Estate Firm Wants A Young Man Between 20 and 30 Years Old ——to specialize in the sale of first trust (mortgage) note. Must be well educated and of good appearance—excel- lent opportunity for a young man who really wants to work. Prefer ome who is now em- ployed in a bond office, bank or real estate office. Address Box 243K Star Office >7777277777777277277722777207 220700720220 0 0D Money to Loan Secussd by first deed of trust o real estata Prevalling interest and commisslon. Joseph I. Weller P34 ""‘[ EQUITABLE Co-Operative Building Association Organized 1579 44th YEAR COMPLETED Assets -$4,755,170.53 Surplus .81,248,320.99 Accomplishes Most saving 18 the . Jolat the Equitabie sad sars with best results. Subscription for the &6th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Premdent e . In Washington— Worth Double The Amount Of The Loan— Interest Rates Today 6% and 7%— Denominations of $100 to $1,000— Partial Payments Received— Mortgage Investment Dept. HANNON & LUCH 713 and 715 14th St. N.W. Main 2343 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST - Randul K Hagner & C. 1207 Grncolicit @m«c 4 In Convenient Denominations For Investors Interest 6%2% NOTHING TO DO BUT CASH CHECKS That's all there is to it when vour money is in our FIRST MORTGAGES No coupons to clip. No “dunning” to do. Best of all no worry. Interest paid by check—promptly when due— ALWAYS. Quarter of a Century Withont a Loss In amounts of $250 and up. B. F. SAUL CO. Main 2100 1412 Eye St. N.W.