Evening Star Newspaper, October 27, 1924, Page 19

N BOOM IS PREDICTED INTAXFREE [SSUES Publishing Returns May Cause New Move to Outwit Business Rivals. BY J. C. ROYL al Dispateh to The Star. NEW YO October 27—A d tinct change in the trend of inves ment is anticipated by many bankers and business men as a result of in- come tax publicity. This is expected irrespective of the decision with re- sard to newspaper publication of in- come taxes by Attorney General Stone. Consequently investment ers all over the country spi day scurrying around for tax security issues which they fer their clients. One business man whose five figures expressed the dicated when he declared licity given individual and corpora- income taxes would result ing the game from draw poker He publication of allowed rivals and competitors to see all the cards held against them where tax oxempt income did not exist, the placing of funds in tax free invest- ments would offer a c of secrcey ju doc card in poker Ghange in Trend Likely. Sun- free tax is in trend in- that pub- the buried for invest- present There is ment in the The problem United Stat busine n en to induce into channels where it would in i ¢ and expand tax reduction which this year was counted on ging that about. Many r, that the publication t paid which has dy taken place may nullify the effect of the reduction in this respect, The change in trend. however, seems likely to promote extensive additlon: to the already heavy programs of unicipal, cqunty and state public srks. With mon adily available, e expected to which up to 1 merely it to tions. contract for the the Philadelphia ttsburgh, Boston, Chicago and other centers are planning on sub ace transit facilities. These pro- ts will call for employment of a large amount of labor. Credi¢ Men Very Busy. Credit since tax hey have d their stances. 5ot likely men have put in busy days publicity went into effect been revising their opinions credit ratings in some in- Such changes, however, are to be drastic as a general ing for the up-to-date credit man 1y has so accurate a line on his ¢ mers that his estimates are only veeasionally tgures Thers have been both wails and hter from the theatrical and movie world as a result of the opera- noof the new law. Some stars have heen disgruntled because their tax payments have.not been published believing that such payments should bo regarded good advertising Others whose proud boasts as to the their salaries have rung Broadwa ng joked b eir have indicated a part at least of their asser- have been couched in terms of - mone ust lau arns men hopeful of some additional bu: believing that the trend toward putting exce! profits into advertising instead of tax pavments maybe revived. Poor Returns Deterring Factor. Opposed to the trend toward tax- free securities is the fact that these investments pay a relatively small return. On the other hand, careful statistics indicate that industrial carnings in some 40 different lines in the last year were at the rate of § $100 of capital, or slightly yield of the reasonabl Utility carni were « hundred lower than in- earnings, but showed greater ty, while railroad earnings in ran abyut $5.500,000 ELEVATOR PUT INTO SERVICE B. & 0. Ln.l;].;—sle;_l;(:; for Bremen Endless-Chain Method on Docks. Apateh (0 The Star. MORE, October 2 or the L time it was opened last sonth, the new grain elevator of the imore and Ohio Railroad Com- crected at c Point at a approximately $5.500,000, was last week to load a vessel. thousand bushels of malted consigned to Bremen, Ger- were placed upon the steamer Planet of the United American Lines, th by since cal equ by endle aid to have pment for moving s chains of buck- lifting capacity 5,000 Lushels an hour. With- wal of grain from the structure loading on vessels is accomplished by means of six belt conveyors, These ad through an elevated steel tres- to the piers, a distance of 500 feet the nearest point. 'he general arrangmeent of the piers provides berthing space for cight ships. They can take on grain cargo at the rate of 150,000 bushels an hour, officials say. BANK DEPOSITS JUMP. Baltimore Increases Held More Than Seasonal. Speeial Dispatch to The Star. BALTIMORE, October An in- crease of 77 is shown in total deposits of Baltimore banking institutions, exclusive of savings banks, in the October calls compared with the combined calls for June 30. That bank deposits in this city are making consistent increases is indi- cated by a gain of $47,336,681 in ag- gregate deposits over the total for last March, and an impressive in- crease. of $58,113,907 over the total for September last year. The sharp gain over the similar period of 1923 is taken to indicate- that the im- provement is more than seasonal. Deposits of the 39 State and na- tional banks and trust companies in this city on October 2 in the case of State banks, and October 10 in_the case of national banks, totaled $350,- 921,203 against $325,163,526 on June 20, 1924, and $306,584,681 in March. DAIRY PRODUCTS. BALTIMORE, October 27 (Special).— Live poultry—Young chickens, pound, 3a27; Leghorns, 21a24; old hens, 17a27; T.eghorns, old, 17a25; old roosters, 15a16; ducks, 17a25; pigeons, pair, 30; guinea fowl, each, 40a75; young turkeys, pound, 35a42; old, 35a3s. ;i . 1aggs—Receipts, cases; native an nearby firsts, dozen offered, 52; no bid; quotations, *50. Butter—Creamery, - good to fancy, pound, 36%a39; prints, 39%a41; nearby creamery, 35a36; ladles, 30a32; store Backed, 83; process butter, 33a3d. might of- | in | explained that while the | the tax payments had | rtain amount | and bank- | WELL, BIG BoY, How's EVER THIN 2 THA'S SAY, BIG BoY, | HEAR GOLF THESE DAYS WELL, BIS BOY, WHAT'S O™ YOUR MirD TToDAY ? 'W., B. & A. NET INCOME YouU' RE PLAVING SomE REAL | $16,652 IN 9 MONTHS { Per Cent During First Part ‘ of October. | Special Dis b BALTIMOR Washington, Baltimore E ctric Railway Company net income of $16, fter all E {and depreciation for the first n months of the year. During the fi 20 d: in October gross rece f | passenger traffic increased 6 over the similar period last v a further improvement is exy the company in November three months of the vear this company’s best season. Gross operating revenues for ine months ended September totaled $1,744.809, compared with §1 1.840 for the corresponding period year. Operating expenscs, how- aggregated $£1,365,068, ainst inapolis s The last are usually the 30 These figures do not include d ribution of profits from the Annapc nd Chesapeake Bay Power Company the stock of which is entirely owned by the Washington, Raltimore nd | Annapolis. 'he former company’s | power business is said to be growing | |rh]>idl_\' ;CUT Il\rOIL OUTPUT ! COVERS EIGHT WEEKS| | B ssociated Press | NEW YORK, October | decline of 96.000 barrels in crude oil | production throughout the country in | the last eight weecks has cre | better sentiment in the oil tra | has existed for the last {The impression prevails | dustry that production will continue to decrease until it reaches 1,850,000 barrels daily by the end of the year. | This belief is based on the extraor- dinary drilling activity of recent vears, which has depleted many of the country's richest oil pools. HOUSE SHORTAGE FILLED. 1924 to Be Last Year of Record- Breaking Building. a1 Dispatch to The Star. W YORK, October 27.—Condi- in the building industry are receding to normal, but there are ‘good prospects for a considerable amount of construction work being conducted during the coming Winter months, according to a study just completed by the Copper and Brass Research Association. The study is based on graphs which show the trend of construction activities and of influences which react upon the volume of construction. These indicate that the shortage has been overcome and that 1924, with an expenditure of approximately $5,000,000,000 for construction, be the last year of the record-break- ing period of activity in the building field. Intensive study and educational work by the Department of Com- merce in co-qperation with various bodies allied to the industry have pretty well overcome the old preju- dice against Winter building. LULL DUE TO ELECTION. Spe N tions of Hesitancy. Special Dispatch to The Star. NEW YORK, October 27.—"Indus- trial production as a whole in this country continues its motierate and irregular expansion,” says the Guar- anty Trust Co.’s survey. “With al- lowance for merely seasonal factors, definite progress away from the re- cent slackness is evident. “The presidential campaign, with its impending issues, however, is th overshadowing influence on the busi ness situation generally. Uncertainty as to its outcome restrains initiative and halts enterprises. Many impor- tant seconomic problems in the field of taxation, transportation, tarift and finance are involved in the issues, and business will'inevitably be affected by the attitude of the electorate ex- pressed toward them at the polls. The ‘marked fmprovement of the late Sum- mer has, as a Tesult of this and other causes, been checked apd ‘another period of hesitancy and will | overturned Ly the tax|pasgenger Trafic Has Gained 6| {its | fluct. | ing. Both Trade and Industry in Period i THE EVENING The Eevents Leading Up to the Tragedy HuLLo, BiG BoY! 1 A T SEEN YU 10 A DOGS AGE: 7 SAay, BIG BOY, | SEE THere 5 BECEN A MURDER OUT 7TOUR. WAy, THE VICTim WA D_\ROBEED AnD THE PoLIcE EVERYMAN’S ‘ INVESTMENTS BY GEORGE T. HUGHES. UNNECESSARY WORRY. Eighty-Eighth Article. this series nst the undue op- ads untrained in- ulative and se ies on the promise More than once in rs to bu culative high rett ever, I meet a man who leans too far Instead of being over- is overpessimistic and securities when there asion for it one me into my rmed over his hold- ves s istie, he worries ov is no oc uch a other day s of mortga New Y returning him ; estate and t. His in- nteed by one of I institutions in he wanted to know what would happen should there be collapse in real reassured him vy relieved. Still and k Risk in Every Investment. ptional the no matter piy some is absol such thing as the savings funds vou ase, hu point tha how was an exe it serves to illustr; all investment ative, do Nothi is no Iven the ri There fety inv to entrust to ire in securities which not only te in market price that vary in investment rating. Through their ability to diversify their holdings and due to their long experience in these matters, the savings banks are bla to reduce the risk to a min m. The t that they are not hle climinate it entirely is no son for distrust in savings banks In the same way there is no reason st to | for refusing to buy sound bonds sin ply Dbecause in the progress of h man affairs eocial and econon changes alter the position of indus- tries. Revolutions of this kind do not come suddenly or without warn- It is just as much a mistake 'COLDS THAT " DEVELOP INTO ~ PNEUMONIA Chronic coughs and persistent | colds lead to serious lung troubie. You can stop them now with Creo- mulsion, an emulsifiéd creosote | that is pleasant to take. Creo- | mulsion is a new medical discovery with twofold action; it soothes and heals the inflamed membranes and Kills the germ. Of all known drugs, creosote is recognized by the medical frater- nity as the greatest healing agency for the treatment of chronic coughs and colds and other forms of throat and lung troubles. Creo- | mulsion contains, in addition to creosote, other healing elements which soothe and heal the in- flamed membranes and stop the irritation and inflammation, while the creosote goes on to the) stomach, is absorbed - into the | | blood, attacks the seat of the trou- ble and destroys the germs that lead to consumption. Creomulsion is guaranteed satisfactory in the treatment of chronic coughs and colds, bronchial asthma, catarrbal bronehitis and other forms of throat and lung diseases, and is excellent for building up the system after colds or. the flu. Money refunded if any cough or cold, no matter of how long standing, is not relieved after taking ac- cording to directions. Ask your druggist. Creomulsion Co., Atlanta, Ga.—Advertise- ment quicker relicf than any other cold or la grippe remedy. These tablets disin- tegrate in 10 seconds. Effectiveness proved in millions of cases. Demand CASCARA 5 QUININ ‘,,:f-bnny w. HILOS 043‘ Ilpfi'mm estate values. 1| qisec went | per Howbpy, BIG Boy! WHAOD YA IKNOW ! 1 | | ow and then, how- | office | tes secured | honds, da | | | interest | to STAR, - WASHINGTOD —BY WEBSTER . ~D MO MOTIVE FO HE CRIME ~ i Dokl | the conclusion that the bolish the tele , rush in and buy all kinds because of limitless possibilities wonderful new invention. should remer too, that great industrial corporations are often able to adjust themselves to fundament :d_ conditions. One of the Iz and most suc- nanufacturing com- panies was once the wagon-mak- ing busine its progress was not halted when the automobile replaced the bug 1 do nc that there | is no dan s line. T only insist t aggzerated (Copyri jump to ally BONDS TO BE REDEEMED. W YORK, Hol al Asph inking f ed Dec been notified that redeemed at the of New York Dece Bonds December 1, 19 $1,090 per $1,00 nt, at 1 nt, from the nent to Dec O 10-vear nd conver mber 1, the bond inkers’ Trust Co. | er 1 at 105 and | tendered prior to will be accepted at | bond, less the bank | annual rate of 3 e of such pre. will be pay ber BIG GAIN IN EXPORTS. NEW YORK, O r The tional City Bank of New York eal culates that cxports of manufactures in the calendar vear 1924 will aggre- gate $2,200.000,000, double the amount | 10 vears 000,000 more | than in 1923 » total for the first cight months year was $1,177, 000,000, about per cent of the country’s total exports | “ MONDAY, OCTOBER 27 GENERAL INCREASE |EMBARGO PLACED Reserve Board Also Reports Th revij reported a general inerease of pro- duct emp] chan considerable of I Th basi sonal variations, r Sept January, tivities were noted in many lines of industry, stee awarded September a y £ tobe: and banks in lcading citie: mory mand for financing the marketing of | 1A' <] crops and the | 2 w loan total leve October, men crea; also d. | the “At the courn ber we, acee; and United States quence, larg in the year. men wer October 1 in an jncrease of $140,000,- 000 circulation.” COST OF LIVING HIGHER. BC cost | risen 125 per ¢ | according to the State Commission om | drift to Florida taking care of amy I the Necessities of Life. IN' PRODUCTION| ON GRAIN TO LAKES Roads to Halt Shipments for Duluth and Superior Ter- minals 48 Hours. ore Borrowing for Com- mercial Uses. he Iederal Reserve Board in its ew of conditions for September iated Press. B POLIS, October of the Northwest me the joint termin grain committee of the American Railway Association this afternoon agreed upon placing |an embargo on grain shipments to | Duluth and Superior terminals. 'rhe | embargo becomes effective mid- night tonight The em ~—Rail- ion of basic commodities, factory loyment and distribution of mer- ndise. There was also reported a increase in the volume borrowing for commercial pur- in September and early October. board's index of production in industr adjusted for sea- 9 per cent in| advance since Increased ac- until order g0 will p.m. November as signed by P. J. M Northern Pacific Railway, J. of the Great Northern Railroad, W. C. Ranous of the Minneapolis, St. Paul and Sault Ste. Marie, and G. A. Van Dyke of the Chicago, Milwaukee and St. Paul Railw The order follows: continue ember, the first 1. The it was said. including_textiles, iron and coal. Building contracts showed an increase over year ago. Juring the five weeks ending Oc- r 15, the statement said, “loans investments of reporting member | g~ %r0CT TAHONS increased bY|joaded cars and congestion Credit de-|minals effective 11:59 p.m. Monda: and until 11:39 p.m. Nov Fall a vity of trade - 3 . » will not accept shipment 1 e Wi s = |of grain I"\‘:“,"‘,""‘“fi"";”m‘fqe l"’)‘;',“"’m':‘:";h igned to Duluth or other head-of- L 2 2 L This embargo s | the-lakes points. 1 consid ab) abov 3 3 1 . N S iarably above the Peak of |placed after investigation by the Joint Invest e al grain committe of the ts ini securities’ continned to - | ISTIUNE BYAL comEnCies of T se and loans on stocks and bonds | Northwest — regina advisory, | neard advanced. A further growth of who find that conditions m. t and deposits carried their total to | ®SS8Ty to issue this embargo today, highest figure on record | which will be effective in 48 hours federal reserve banks dis-|from midnight tonight (October 25 ats changed but little in Septem In a resolution adopted it was and declined in_ the first three |Stated the ks of October, while holdings of = was on hand at the head | of the lakes and in transit there 15,- ptances increased considerably, | there was also some increase in 011 cars of grain and seeds. The request to the railroads to ef- e As a conse- ! fect an embargo Was neces total earning assets were avoid a complete tie-up of i o e early | €quipment and passing tracks Lar require- ts, partly seasonal in character, grain-laden cars that cannot e refleccted between August 1 and 1, and accumulation of of ter- than $600,000,000. promptly released” the resolution | ada | g BUILDING COSTS DROP. ATLANTA, October (Special).— Bullding materials have reached the lowest prices of the year, and there OSTON, October 27 (Special).—The |is a marked increase in construction of living in Massachusetts has of smaller buildings in consequence ent in the last month, | Skilled labor is fully employed, the in the total volume of money in urplus. Wages are stationary. Floor Wax and Polishing Brushes Paint Your House —your garage, your auto, etc., NOW, before another winter brings its ravages upon your property. You can depend upon REILLY PAINTS insuring 100% protection, because they are QUALITY PRODUCTS. —Prices Specially Low. Glass Tops for Tables —Dressers, Buffets and Desks cut to order at Reasonable Prices. Given such protection, vour fine pieces of furniture will gain in use- fulness without losing any of their looks or beauty. f Window Glass also cut to order % HUGH REILLY CO. PAINTS & GLASS 1334 N. Y. Ave. Phone Main 1703 MEWBER OF CRTIop 2\ . "PAINTS and VARNISHES ting \\\xni * | manufacturing 19 ;WESTERN MARYLAND RY. |$1,600,000,000 IN NEW INCREASES REVENUES| CARS AND LOCOMOTIVES | Srecial Dispated to The stur, | BALTIMORE. October 27.—Although | the Western Maryland Railway ry ports dec ses in both gross and | revenues for the month of Septem | the rate of decrease is smalier t for any other months this year, ¢ { cept in Janu and February. The report shows, furthermore, that ing expeneses were cut 34.14 compared with !il\l: month’ a year ago. in expenses enabled the report a shrinkage of net in the |in gross. penses to against 76 Railroads Have Expended Huge Sums Since Passage of Trans- portation Act. i of the railroad re- 8. Binkerd vice chairman of the com on pubi relations of the stern railroads, the railroads of the vested more than $1.600,000,000 Mr. Binkerd ing to a 1e ratio of operating ¢ BTOss earnings was 17 | ) for September, 1 effected in tion s portation added NE“; STOCK OFFERING. | NBEW YORK, October A New Iy banking syndicate has pur- chased 70.000 of the 250,000 shares Thermiodyne T ation stoe | which will be publ | later this week b, 1 be made to list the s York curb market Procecds will he | used by the corporation to expand its facilities at service division of American Railway Association nounces this morning that in t nine months of this year 120,7 and 1.657 new instalied in service on nd that 49,70z locomotives w s an new fre locomo- tive class 1 Piatts- | freight cars an 'still on order. re burg, Y tgnsmnterin. Choice of playing along the seashore or inland at the foot of snowy mountains— There is a distinct charm about the sunny, all-turf courses of California— The journey there is a delight— when you go Santa Fe “all the way.” Fred Harvey serves all the meals—new steel equipment— and double track nearly the en- tire distance. Make your reservas tion early. 3 For details..‘ Pullmans via Grand Canyon National Park— open all the year Gen. Agent Dist. Pass. Agent B ‘ ta Fe Ry. -2 Finance Bldg., Philadelphia, Pa. Phone: Rittenhouse 1464-5 City life and Constipation— fellow conspirators O hard workandgood healthgo hand in hand? Ask workers in every city such as motormen, machinists and others who suffer habitually from constipation simply because their working hours cannot be interrupted. Pluto Water appeals especially to those who must be “on the job” continuously. It acts thoroughly in 30 minutes to two hours. It clears out all the accumulated 'waste—leaves the system in tip top, healthy condition. Remember, time counts when you need a physic. Don’t trust to overnight cathartics. Take quick-action Pluto. A water physic, it is safe and non-griping. Physicians prescribe Pluto Water. Drug- gists sell it. And it is bottled at its source in French Lick Springs, Indiana. When Nature Won’t PLUTO Will PLUTO WATER “B752° Physic