Evening Star Newspaper, July 21, 1924, Page 19

~ FORDMAY SUPPORT BIG FOREIGN LOAN Part of $300,000,000 in Cash Ready for Use—Auto King Studies Foreign Affairs. | BY J. C. ROYLE. to The Star. NEW YORK, July 2l.—Progress made at the interallied conference in London looking toward placing the Dawes plan for the payment of Ger- man reparations in operation has taken on new significance for the business and financial interests of the United States. This has come about through well authenticated reports of the possibility that a part of the $300,000,000 cash surplus of the Ford | Motor Company might be invested in the international loan proposed unde: the Dawes plan to put Europe back on_its industrial feet. . Reports circulated here that the Ford money would go into the es- hment of a Ford bank in Wall street. in which cither Henry Ford or his son 1 would Le the dom- inating factor, are characterized as ;bunk” in dispatches received today from reliable and well informed banking circles in Detroit in close touch with the Ford investment pro- gram. Fords Study Dawes Plan, Tt is known. however. tha Fords have been making tion of the entire Dawe its provisions. and that they consulted the banking group hea by Perey Rockefeller, asking their opinion of the Dawes plan. This in- tigation, it is said in Detroit, has been made With the idea of preparing an analysis of the Dawes plan to be published in the Dearborn Independ- €nt, which has always been regarded mouthpicce of the Ford in- ir. Ford long has | in the develop- ation in Gern name was frequently | mentioned in connection with some of | the German political developments, | and, while it was clearly established that he had nothing whatever to do With the financing of any political | movements in that country, his knowledge of the situation is known to have been extensive Ford Sales Bound Upward. The Ford cash balance has ri ented heights in ar 1923 was a record- | which ™ the originator of made and sold cars and trucks at record-breaking speed. Up to the first of this month he had sold | s year L rs and trucks in < ne. not counting or Mexican or those -ountrie s the Was an incr. correspon June his sz n to| the last vear. breaker, in the “flivver” utives of the know exactly the t on each car, but it was sufficient to pile up a cash surplus of over $200,000,000 early in 1923 and there is_ ev indication that this sum has increased by one- third since that time. There is no question but that the sum has grown €0 large as to be extremely burden- some. Banks will accept on tain amount subject to immediate withdrawal and payment of interest | on time accounts by the banks has | been held down by iow money rat Always Follows Waorld Affairs. Possibilities of the financial power | which might be wielded in this coun- try through the deposit, withdrawal | or investment of such huge sums Mr. Ford controls have been widely | discussed. but there has never been | any indication on the part of the De- troit manufacturer of a desire to ex- ercise any such influence. However, he always has been deeply concerned in_world affai Furthermore, it will be remembered that Mr. Ford, although counted as a Democrat, has offered indorsement of the candidacy of Mr. Coolidge. Furthermore of the operation of the Dawes plan which bears the name and the imprint of the influence of the President’s running mate, could scarcely be regarded as an unwel- come campaign contribution by the Republican managers Th the meantime ihe Ford factories are turning ot a five-day schedule. changes being made and output is expected tq be moved up again some time in August. HAY PRICES ARE HIGHER THAN IN 1923 OR 1922 Department of Agriculture Re- ports New Crop Moving More Rapidly. The hay market continued quiet to draggy for the week ending July 19, states the Department of Agricul- ture in its weekly review. The move- ment of new hay is increasing and prices in the South, Southwest and part of the Central West are on a new crop basis. The demand is suf- ficient to absorb current receipts. The price of No. 1 timothy averages £2.00 to $2.50 per ton higher than the beginning of the new crop move. ment in 1923 and 1922, while No. 1 alfalfa is on acticaily the “same | price level 23, but is about $2.00 per_ton hi than ‘in 1922 The July | forecast of the Depart- ment indicates a total tame hay crop of 90,100,000 tons, 1.000,000 tons more than the 1923 production and 4,300,- 000 tons more than the amounts har- vested in the years 1915-19: rrent prices at principal marke are 0. 1_timothy—Boston, $31.50 New York, $30.50: Pittsburgh, $25.00 Cincinnat 00: Chicago, $26.50: Denver, $19.00. No. 1 alfalfa—Kansas City, $18.25; Omaha. $17.00; Memph $24.00; Denver, $14.00.” No. 1 Prairie— Kansas City, $11 Omaha, $13.00 Chicago, $18.00; Louis, $16.00. SWEET POTATOES’ SHAPE CHANGED BY FERTILIZER National Association Reports on Special Tests Made to Increase Yield. St During the past two vear: ber of experiments hav. ducted in which fertilizers contain- ing varying amounts of plant-food ingredients —ammonia, _ phosphoric acid and potash—were compared with each other and with no fertilizer at all. The results show that when the fertilizer contained 3 per cent of ammonia, 8 per cent of phosphoric | ea | the Federal Trade Board. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY MINX products would bring northweste farmers $50,000,000 more than a week crops ago if they could sell their now, according to crop experts the University of Minnesota. ST. LOUI been damaged layed in central winds and rain. July 2 and Missouri .—Crops by hi CLEVELAND, July 21 Motor Company has n the year's dividend requirements the first part of this year and h orders on hand for two months, T rly “earn, Jordan Company has recelved orders new 8-cylinder for 2 cars of the model. The Peerless Company h: advanced the price of all car nd will bring out model three tile warehouse empty than the are have more. been in vea both of raw staple and finished goods. . AKRON, July 2 industry is now to 80 per cent of N FRANCI e flour dealers Teport throughout the state tivity is confined to filling in ordes The "demand from China, active month ugo, has quieted down, The Akron running at from apacity ittle buyi PITTSBURGH, July prices remain unchanged week. - Bars, plates and firm at the recently establ ile billets and blooms slightly from the first of Ste om shed lev are RETAIL TRADE PICKS UP. L Dispatch to The Star. BALTIMORE, July provement in retail trade in_ Bal more is reported for the first half the month as well as for the last part te that busi- of June. Reports Indica ness generally is who for this time of the One of the larg reports that the aver: satisfacto ar. retail stores h, ts business had exce of that reported demands have been in and silks, underwear, and house furnishings. Bathing needs are moving fairly but had a poor start, du wardness of the season wash house E00! dres well no to the bac| Woodward & Lothro SAPOLIS, July 21.—Advances in the market prices of agricultural have threshing de- The Stearns 6-cylinder new :1.—Southern tex- nearly tire 0, July 21.—Whole- | and presegn a last shapes a down | the mont. | —Decided im- The larger ts and other vacational ~ THE EVENING STAR, WASHINGTON, D. C, MONDAY, JULY 21, 1924. MANY BIG PROJECTS STARTED IN SOUTH Construction of Buildings, Roads and Bridges Makes Record for Midsummer. rn of gh ed in as he Special D'spatch to The Star, BALAIMORE, July 21.—In its sum- mary of industrial development and construction activity in the Southern states the Manufacturers' Record calls attention to the widespread character of this activity and points out that the usual seasonal slump in the award of new building contracts has not materialized this year. Important projects announced for the week inelude the following: |Award of contract for a $500,000 bank building in Baltimore; plans for A $850.000 office building in Birming- | ham; construction is undeg | $1,700,000 hotel at Miami Beach, Fla.; L new house for the Missouri- | Kansas-T X | will cost $5y cts were just {let for the c nd hydraulic | eauipment for the Catawba plant of the Southern Power Company, work on which has been started hear Rock Hil, . imated to involve ¢ expenditure of $8,000,000 Many Other Big Projeets. in excess of $1,000,000 have been let for the construction of new wuterworks at Tampa. K the itract for $2.000,000 addition to a New Orleans hotel has been struction will soon 250,000 hotel at Dallas s plans ‘are being completed for $1,000,- t 000 apartment in the same city; a of | $600,000 municipal puilding will be erected at Charlotte, C.; a Shreve- port, La., oil company will erect a Ty |$250,000 gas-pumping plant; contract for ten high ed Government pa- trol boats to co: $350,000 has been let to a Jacksonville, Fla., company chemical company at Houston plan. |a $250,000 plant; and preliminary pe mits have been granted a company planning a_$10,000.000 hydrolectric de- velopment in Mi: i Despite the quietness prevailing in the textile industry during the recent months, many firms in the South are expending large ums of money in as ng a el el, re - to ds additions and improvements to their plants, believing that a revival of and in buying gener- way. New mills are being erected and extensions made to establish mills; scores of plants are being thoroughly modernized by the installation of new machinery, rear- rangement of layout, replacement of belt drive with individual electric motors. Much Highway Comstruction. Construction of improved hughways, bridges and paving continues to hold a position of prime importance in the building activity' #% thmg Southern States. Contract has been let by the South- ern Railway for a $250,000 cut-off near Spartanburg, S¢ C. The mammoth Erain elevator and new piers of the Baltimore and Ohio Railroad in the Locust Point section, Baltimore, are rapidly being completed. Georgia melon shipments have reached their peak, with 200 to 300 rs leaving the State daily during the past two weeks. It is estimated that 10,000 cars of melons will be shipped out before the season closes. SHIRTMAKERS REPORT ADVANCE IN ORDERS Collar-Attached Model Now Best Seller—Broadcloth Popular. Fancy Stripes Coming In. Special Dispatch to The Star. BALTIMORE, July 21.—While the tendency to defer purchasing con- tinues, there has been a gain cently in the volume of shirt orders placed for Fall by retailers. The callar-attached model, parti- cularly in whites, has been to the fore recently and re-order business in this style has been received by wholesalers, although not to the ex- tent expected. The broadcloth shirt still seems to maintain its position, although it is not in so strong a position as was the case Some months ago. The opinion is that fancy stripes will be good for Fall, displacing to some extent the solid color vogue which has prevailed. . $7,000,000 TUNNEL RUSHED. DENVER, July 21 (Special).—The Moffat Tunnel Commission, directing the boring of a six-mile tunnel through the Continental Divide, re- ports the work probably will be com- pleted eight to ten months earlier than anticipated and will be kept within the appropriation of $7,000,- 000, of which $2,598,054.91 already has re- been spent. The apticipated date of completion is August 1, 1926. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Bonds on Partial Payment. Forty-Sixth Article. I am often asked to recommend some bonds that may be bought on the partial payment plan. The in- quirer wants to save money syste- matically and to invest it as fast as he saves. Now this is a highly com- mendable ambition the realization of which is possible in many ways. You can, of course, deposit your weekly surplus in the savings bank until enough has accumulated to buy a good bond. The trouble is that most of us need some stimulus to keep up any such plan of setting aside a certain sum regualrly. It is this stimulus which the building and loan association gives that makes such associations so helpful in any plan for systematic saving. 1In a somewhat similar fashion life insur- ance may be developed into a savings scheme although this is not primarily its function. But supposing you already have both life insurance and shares in a good building and loan assoclation and still wish to buy securities on partial payments. How can this be accomplished? There are a number of investment houses which make a business of selling bonds on partial payment. They do this largely as an encouragement to small investors in the hope that eventually they will become large investors. There is, however, almost no profit in this business for the Investment banker if he sclls high-grade securities and the small buyer has no business to take anything else. Tt follows then that there is need of the utmost care In the selection of the house from which you buy securi- ties on partial payments. Do not deal with any firm in this line until you have satisfied yourself that its standing in the financial community is of the highest. Do not buy any speculative security whateveff on this plan, for if you do you may find that the market price will decline before you finish your payments and then there is no Incentive to saving when you are paying more for a security than it will sell for after you have acquired title. (Copyright, 1924, by Consolidated Press Asso- ciation.) FISHER'S PRICE INDEX. NEW HAVEN, Conn., July (Special).—Last week's prices aver- aged 14413 per cent of pre-war level. The purchasing power of the dollar was 691-5 pre-war cents. Crumps index number 1519-10, Irving Fisher report: p Down Stairs Store Manufacturer’s Close-out Sale—1,080 Pairs Wn’s White Pumps and Oxfords Radically Underpriced Style 3788. ford. leather. heels. White Sea I Trimmed with $1.95. Style ford, heels sol 5668. White Nubucl with comfortable and the much d Blue kid trimmed. Style ford. 3787, White buck trim soles and low rubber heels. in brown. $1.95. Stvle 5679 Rubber soles. golfing. Splendidly mad $1.95. Welt sole with ‘White Sea Isle Cloth Ox- ‘White Nubuck Oxford. An ideal oxford for ale Cloth Ox- black patent low rubber Style 1991. Buckle fastening. Welt soles. Low rubber heels. Pump. Yes, radically underpriced. These are shoes you would think splendid values at a much higher price—and, indeed, they would be. In this timely purchase of a manufactur- er’s close-out, we are offering ex- ceptionally well made White Foot- k Blucher Ox- low rubber esirable welt $L95. wear in a wide variety of new styles. We sketch but eight of the 20 Styles but practically every summer Foot- wear fashion is represented in this selling. So, in choosing you have only your personal needs and pref- erences to consider. mings. Welt Trimmed gray and black. and Louis heels. soles. Sizes 31 to 8 e throughout. every style. Pumps and Oxfords, including plain white, white with color combina- tions of red, green, blue, brown, All sizes—but not every size in Buckle Cuban, Spanish Welt and turn Widths B—C—-D Style Button Welt soles. DOWN STAIRS STORE color and charm to innumerable summer occasions. One-button style. Welt soles. Style -5666. leather trimmed. Welt sole: rubber heel ‘White Canvas One-strap $1.95. Blue kid trimmed. Low rubber heels. $195. ‘White Nubuck One-strap Fastening Pump. Bri):n w 5656. White Elk One-strap Green kid trimming. Low rubber heels. $L95. Most Exceptional Values ‘10 Delightful summertime frocks of marked individuality that lend These are shown in such an array of styles that you will recognize them as most exceptional in variety, as well as in quality, $10. Models suitable for afternoon, evening and party affairs, al- & though types for all occasions may be selected. Some frocks of all-over lace. Straightline and Bouffant Models With trimming of pleats, embroidery, laces, flower bouquets, An Ambition to offer you the finest groceries at the smallest prices, and at the same time to render service so prompt and willing as to make your shopping a pleas- $ ure, rather than a task. Stores Will Be Closed at 1:00 P.M. Wednesdays—June, July, August Another Great Saving Combination 3 Pkgs. Macaroni or Spaghetti . . ........ 1 Uneeda Biscuit. ... . .. 1 Kellogg’s Corn Flakes. 1 Shredded Wheat. . .. 1 Post Toasties . ... .. 1 Ketchup (large) .. 1 Waxed Lunch Roll... Reg. low price. . ....... Special . . . 27 .25 .05 .08 12 .08 .27 .10 $1.22 .98 Special This Week SAVE 24c FANCY NEW POTATOE SRARARRRARA, 5lbs., 9c 101bs., 17¢ 15 1bs., 25¢ Birdseye Matches,4boxes 19c WATERMELONS... 35¢ FLOU MORTON SALT 10c Genuine Ball Mason Jars Pts. Qts. i 67c 8lc 3-PIECE Gold Medal, 24 Ibs., $1.19 Washington, 24 Ibs., $1.14 ZA-REX 35¢ Jug KITCHEN SETS, 29c Ty RRRRRRRAANS BUTTER This Butter is churned, under our own close supervision. From the finest dairies. Handled throughout with the most modern, scien- tific cleanliness. A&P Tuna Fish, 3-Ib. Fancy Canadian Lobster. . ... . Japanese Crab Meat ceteees Red Salmon . . . . .. R&R Boned Chicken . Underwood Deviled Ham, % Ib Armour’s Vienna Sausage, % Ib Silverbrook Print, D2C Tub 48c ...33¢ .55¢ .5lc .25¢ .47c .32¢ 24c can. .. Strictly Fresh Eggs EGGS SUNNYBROOKS, 39¢ Doz. Selected, Perfect oo ICE COLD SOFT DRINKS Contents. G&GGingerAle........... 8¢ Piel’s, light or dark. . . 3 bottles, 25¢ Jgc Arrow, Special. . . . . . 3 bottles, 25¢ CocaColay: . ...... ... .. 5 Christo Assorted Beverages. . . . 5¢ Clicquot Club . ......... ..iZc Sliced Pineapple, A&P No.22 can.39¢ Del Monte, No. 2 can. . ... ... .31¢ s CRARRAANL TEA ATLANTIC & PACIFI Shredded Wheat, pkg. .......12¢c Kellogg’s Corn Flakes. . ....... 8¢ Post Toasties . ............ 8¢ Kellogg’s Krumbles . ... .....1lc GrapeNuts . . .............16¢ Puffed Wheat . .. ..........13¢c PuffedRice . ..............16¢c bright colored silk and velvet ribbon, silk laces, satin ribbon bows, dainty stitchings, rows of lace, ribbon girdles and tucks. All wanted colorings. Blue, pink, jade, green, orchid, poudre blue, yellow, rose, black, navy and white. Sizes and styles for women and misses, 16 to 38. DOWN ETAIRS STORE. Smart Summer Coats, *10 Very Unusual Values Purchase your Summer Utility Coat in this offering at Both with full lingette lining. Large convertible collar, a decided saving. Two fashionable models. Of soft, that may be snapped on either side. Or one-button downy cut polaire in block plaids, smfifastemng style. Sizes for women and misses. One acid and § per cent of potash the highest yield and the largest pro- portion of marketable tubers were obtained. The National Fertilizer Association reports a large number of potatoes from each plot were measured care- fully as to length and thickness, to determine the exact effect of potash on the shape of the tuber, although the fference was very evident. for the sweet potatoes produced with the 8 per cent potash fertilizer were one- half inch thicker and one and a half inches shorter than those pro- duced without potash, and the “chunk” type is most desired in the market. AUTO OUTPUT IN JUNE. NEW YORK, July 21.—Automo- bile makers, having adjusted their or- ganizations to the production of new models and having made some Drog- ress in liquidating stocks in dealers’ hands, looked fofward more hope- fully.” Output in June amounted to 250,000 cars. This compared with 312,000 in May, and 378,000 in June, of last year. THE GREAT e ] DOWN STAIRS STORB