Evening Star Newspaper, July 22, 1926, Page 4

ENING STAR, WASHINGTO:! AUTOISTWINS PLE FOR TRIAL OF SUIT Default Judgment of $6,000 | Against Soldiers’ Home It~ Employe Is Set Aside. Justice Hoehling of the District Stipreme Court today decided that @ judgment by default rendered in & damage sult and which requires an injuisition by a jury of the amount of diimages to be awarded. is a mere interlocutory order and not a final judgment. Acting on this ruling, he set gside a judgment for $6,000 award- ed YJune 23 last against Theodore Lefeh, a butcher at the Soldiers’ Home, In favor of Frank MeCrum of Chicago, who was® injured when strick by the automobile of the de- fepdant in June 1925. Attorneys Bell, Marshall & Rice for the defendant, in asking for the vacating of the judgment, informed the court that Lerch had employed another member of the bar when the suit was instituted last February and had paid that lawyer a fee to take care of the case. Through the alleged negligence of that counsel the default judgment bad been rendered March 23 last and an inquisition ordered. The lawyer did not appear when the case was submitted to the jury and a verdict of $6,000 was awarded against him, which went to judgment June 25. Attorney John E. Laskey for the plaintiff contended that the judgment by default settled the question of lia- bllity of the defendant and that the mere fixing of the money amount of the judgment did not effect the final- ity of the default finding. The court had lost jurisdiction of that jud ment, he claimed, and could not v: cate it merely because the money judgment had not been rendered until June 25. Under the circumstance Judge Hgehling said it would be uncon- scfonabie to hold the judgment for $6,000 against Lerch and so set it aside and also the default finding and permitted counsel for the defendant to file a plea and have the case tried on its merits. The court required the defendant to reimburse McCrum for the expense of his trip from Chi- cago to appear at the inquisition. POINCARE TACKLES TASK OF FORMING f GRALITION CABINET (Continued from First Page.) better than yesterday’s closing quota- tion today on the prospects of a Pois care ministry, and remained firm dur- ing the morning, notwithstanding the fact that the Bank of France's state- ment showed that the government had borrowed 500,000,000 francs. The selection of M. Poincare to form a government, in financial circles, was regarded as the most potent factor in the market today. ITALY FEELS CONCERN. Has Little Faith That Poincare Can Rehabilitate Franc. ROME, July 22 (#).—The Fascist government is watching developments in ¥rance with concern, officials said today, both because of Italy’s friend- ship with that country and because of the effect on the Italian economic sit- uation. “It wasn’t Parliament which over- threw the ministry,” remarks the semi-official Popolo d'Italla in com- menting on the fall of the Herriot cabinet. “It was the nation which virtually overthrew Parliament. Any other cabinet would have been over- thrown, not because of hostility to- ward its intrinsic constitution, but because of lack of faith in_patlia-. mentary institutions. Therefore, it Car Strikes Pole As Insect Stings Driver on Neck Losing control of his automobile when stung on thegneck by an insect, Raymond L. Boyden, 28 years old, of 214 Second street southeast, was _seriously injured when the'car left the roadyay and crashed into & telephone /pole on* Livingston _road southeast, be- tween the District line and Oxon Run, about 4:30 o'clock yesterday afternoon. who is employed at St, Hospital, was taken to Casualty Hospital, where he was treated for a severe cut on his right_side and shock. is the regime itself which does not work.” The entire. press shows greater sympathy for Poincare than for Her- riot, but has little faith in the pos- of his success. n if Poincare fails,” 11 Tevere says, “it is certain the tendency must remain toward the Right. Europe needs strong regimes, determined to operate surgically.” The Popolo di Roma scouts the pos- sibility of a coup, saying that neither the individual nor a backing like the Fascist youths of 1919 exists in France. . Belgium Feels Sympathy. BRUSSELS, July 22 (#).—The French franc opened today at the rate of 100 to 95.Belgian francs, bat later strengthened to 98.. The pound sterling advanced from 200 to 205, while the dollar went from 41.75 to 42. This movement was largely based on the resignation of the Herriot cab- inet and the report that a national union ministry, under former Premier | Polncare, would be constituted. The French crisis is being followed throughout Belgium with the great- est sympathy. P Vienna Sees Remedy. VIENNA, July 22 (#).—The tribu- lations of France aré being watched by all sections of the population with the keenest interest. In political cir- cles the view is expressed that the present is no time for a capital levy or increased taxation, and that, like Austria, France must seek foreign loans and practice economy; that the watchword must be currency stabili- zation first and fiscal measures and other experiments when stabilization is achieved. 9 BERLIN PRESS HOSTILE. Comment on Poineare’s Return Re- veals Former Animus. BERLIN, July 22 (#).—Preas com- ment in Berlin on the return to the premiership of M. Poincare in France is marked by the hostile attitude which German newspapers have dis- played toward him, espectally since the occupation of the Ruhr. If Premier Poincare were a states- man with European visiion, the Vos- sische Zeitung says, he would now have an opportuunity of correcting the historical opinion of the unfruit- fulness of his past policy. The Berliner Zeitung Am Mittag says that it is only an act of his- torical justice that Poincare, whose former policy was a *“source of the frightful difficuulties now besetting France,” should undertake the her- culean task of relieving the country of those difficulties. Lieut. McLaughlin Resigns. Resignation of Second Lieut. Edward D. McLaughlin, United States Infan- try, receatly stationed at Fort Screven, Ga., has been accepted by the Presi- dent, to take effect August 31. Delightful Com- munity Club Nearing Completion THEATERS PREPARE 0 HANDLE STRIKE Managers to Resist Wage In- _crease Demand by " Moyie Operators. Members of the Theater Managers’ Association are preparing to act in the event the union motion picture machine operators can carry their threat to strike for higher wages on September 1, it was admitted today by A. Julian' Brylawski, chairman of the wage scale committee of the as- sociation. The operators gave notice they want new contracts giving them $75, and a 40-hour week instead of their present wages of $65, and a 42-hour week. The theater managers after a special .session unanimously re- jected the higher wage scale. The outstanding step taken to com- bat the threatened strike has been the opening of a school where man- agers and assistant managers Bre training themselves to be operatorsy The school is_taught by Sergt. H? Saum of the Signal Corps. The managers admit that even if they fill the places of the operators, they will likely be faced with a walk- out of other -stage workers in sym- pathy. Advised of the statements ‘made by Mr. Brylawski, Thomas A. Reed, head of the operators’ union, de: that granting increases to the operat- ors would necessitate a raise in the price of theater tickets. Fete Features Barbecue. A barbecue will be the feature of St. Gabriel's Carnival tonight at the in charge of Frank Beuchert. Another feature will be & concert at 7:30 by Independent the Washington Boys' will Band. The carnival through next Saturday. e continue Marriage Licenses. Marriage llcenses have been fssued to the following : William Gier and Bessle Jackson, both of i:lagzfifnmifufl a0d Laura Joffe, both of sinja D, or) SRR Sa S N h“M]‘QM: W. D. Norman and Ethel M. FPits- oseph E. Canter and Mary Tippett, both , G utler and Gladys Bransor, . Hulse and Helen J. Casey. belh;r{;.l’l{rvh of_this city and May Schrej- Py vy a6 ients a Rors. Vi gl Sz\m]l’llel L. Kemper and Ella L. Smith. . Strong cloth is being made by a Scotch inventor’s process for grinding old leather, a binding material and coloring matter into a dough and forming it into shee! 4s Long as You Like For 50cC In the’ Wondortul Pool D. C. SWIM MING CLUB oarly ond stey -E"IHA. X0 Children’s Shoes Sizes ODAY these shoes are 4 $1.45 to.$5.00 pair, ac- to cording to size. The next 8 Three Days you can have them for 95¢ to $1.95 pair. Included: Strap Pump ef- Sizes fects. Misses’, Children’s 8V, and Growing Girls' Pumps, to in black, tan, white and 2 colors for dress and play. Every pair included is from our regular, = dependable i stocks—not special “Sale” .Slfe! shoes, 2/2 to And a Three-Day Sale, Boys’ Shoes 5 Just to rqund out the sale, several of our most popular styles in boys’ black and tan oxfords, deeply reduced tomorrow. Sizes 1to 6+ $2.45 Sizes 9 to 132 $1.95 'Afi Sizes But Not in Every Style . . 0 $].95 - "310-312 SEVENTHAINW. . 50¢ TO SWIM Sc church grounds, Grant Circle d Webster street. The barbecue will Age or Sex May Save Editor From Valentino’s Wrath By the Associated Press. * NEW YORK, July 22.—Dis- patches from Chicago that the writer of an -editorial which linked he movie actor with pink powder piuffs has not revealed his identity have failed to dissuade Rudolph Valentino from his inten- tion of forcing a duel, American n. There is just one pos- sible development, he sald, which might force him to “laugh it off.” his suite, clad in an orchid bath- ing suit and lavender lounging robe, “and I'll have.satisfaction. ‘Unless the scoundrel who wrote that foul stuff is an old man, too feeble to take a man-sized licking, I'll give him what he’s earned.” ' “But what,” some one asked, “would you do if the ‘sgoundrel’ turned out to be a woman?" Mr. Valentino achieved a gesture of supreme gallantry. ‘Ah, that goes without saying,” he responded, “T should just have to laugh it off.’ RIS RAMSTAD UNDER BOND. Officer Accused of Accepting Bribe to Be Heard Wednesday. Carl Ramstad, suspended policeman of the tenth precinct, charged with ac- cepting a bribe from two alleged rum runners whom he had trailed here from Baltimore, was put inder $1,500 bond today, pending hearing July 28. The same charge has been filed against Kenneth Woolridge, 23 years old, 4606 Fifth street, Ramstad's al- leged accomplice. Woolridge denies the saying Ramstad had com- mandeered his car. Police have what they .say is a signed confession by the policeman. S Sues Husband for Divorce. Limited divorce ‘and alimony are asked in a suit filed by Mrs. Amelia Allen against Willlam Allen, said to be a watchman at the Riggs National Bank, on charges of cruelty. They were married at Brooklyn, N. Y., De- cember 22, 1906, and have three chil- dren. Attorney Alfred M. Schwartz appears for the wife. WAVE OF SPENDING ABATES IN FRANCE Buying Orgy That Deluged Stores Found Americans Sharing in Bargain Jams, By the Associated Press. PARIS, July 22.—The spending orgy, in which French housekeepers at the start outdid bargain-seeking American tourists, seemed destined this morning to die down. That part of the Paris populace which went to bed early last night learned from the morning papers that the Herriot cabinet had expired dur- ing the evening and that former Presi- dent Pofncare, ardent patriot and rigid economist, had been called upon to form a cabinet embracing as many parties as possible. This did much to restore confidence in the national’currency and was ex- pected to act as a check on the tour- ists who have been replenishing their wardrobes with suits and gowns at $10 each and hoslery at 30 cents, as well as garnishing the inner man with 60-cent dinners, $2 champagne and 10-cent cocktalls. Big Stores Besleged. The craze for turning paper francs into something tangible started early Monday, - when housewives ‘besieged the big provisions and department stores to lay in supplies of domestic commodities. All classes of soclety were affected by the movement. One servant girl is known to have bought 4,000 francs' worth of lingerie, the money repre- senting the savings of three years. The spectacle of whole families pro- viding themselves with shees for the next year was not uncommon, and Americans who were traveling light, counting on being able to pick up what they needed chiefly in Paris, often had to stand in line for hours at the big stores, only to be told that the articles they wanted all were sold. Some complaint is volced in the newspapers that American customers were given the preference by a num- ber of shopkeepers, who showed them undue obsequiousness. This, however, seems to be part of the general anti-American and anti- foreign feeling which culminated in scenes before the Chamber of Deputies while the Herriot miniatry was in its death throes last night, when torrents of insults and epithets were hurled at tourists in the sight-seeing busses. At Rheims a moeting of the League BAND CONCERT. Sylvan Theater, Monument Grounds, today at 7:30 p.m., concert by the United States Marine Band, Willlam H. San- telmann, leader; Taylor Bran- son, second leader, conducting. March, “Flag of vxm({’ry," on Overture, ‘Leonore, No. 8" Beethoven “Ronde Turque”... .Conti Sextette from ‘“Lucia, Donizetti ‘Witcomb, J. Hagzes, W. F. San- R. Clark and A. Bennert. Grand scenes from “Lakme,” Delibes “Melody Celebre,” Rubinstein Intermezzo “Loin du Bal,” Gillet “The Lord's Last Supper” (Das Liebesmahl der. Apostel) ‘Wagner “The Star Spangled Banner.” PEEEHE————————— of Rights of Man, attended by Ger- man delegates, was broken up by Na- tionalists and the Teutonic guests had to leave by the back door. Even the British, despite the pro- itious * debt settlement in London, ave not escaped the general oppro- brium ' due to the rise of the pound along with the dollar, Put in Charge of Stables. Capt. Louls B. Gerow, Quartermas- ter Corps, stationed in this city, bas been assigned .to additional duty in stables, No. 1. from the city’s heat—Rest: Delightful Palate-tempting Cuisine Dancing Tiil 2 A. M. Berwyn 169 for Reservztions charge of the District of Washington |- PARIS NEWS BRINGS WALL STREET RALLY Market Opens Today With Out- burst of Strength After Heavy Selling Late Yesterday. By the Associated Prees. NEW YORK, July 22.—A sharp rally in French francs, an early gain of 1 to 2% points in French bonds and a strong opening stock market. re- flected today the more cheerfu) feeiing in Wall Street regarding the over- night developments in the French financial situation® French® francs, which broke from 2.20 to 2.09 cents within an hour yes- terday on the publication of errone- ous reports on financlal tickers sup- plied by a news agency other than the Assoclated Press, that the Fank of France would suspend payments, were quoted above 2.25 cents in the New York market. The advance here followed a similar one in London and Paris, where ‘the news that former Walker Hill refers to Walker Hill Dairy ¢ ¥ ; [ , ; : 1 74 How Bank Credit Is Granted “Why is it that mfie individuals and firms can readily obtain money from a bank on unsecured notes, while others cannot obtain loans at all—except, perhaps, by pledging ample collateral security?” Grocers and delicatessens neighborhood can supply you. President Poincare had been delegated to form a coalition ministry to save the franc was received with returning confldence in financial circles. The decision of the French government to use the unexpended balance of the $100,000,0600 Morgan credit undoubted- ly stirhulated short covering by, recent speculators fot the decline. In the bond market French gov- ernment 7s were quickly marked up over 2 points to 89, the 7%s and 8s advanced a point each to 94 and 101, respectively, with corresponding gains in the French issues. The stock market, which was e gulfed by a wave of selling just fore the ciose yesterday as a result of the erroneous French reports, which were not corrected until after the market closed, opened with en outburst of strength, early gains run- ;nng from 1 to 5 points in the pcpular ssues. Peaélies—and— Dairy Cream A delicious combination that's in season—right now. But make doubly sure of it by using Simpson’s Walker Hill Dairy Cream. The saying, “rich as cream,” Cream. in your “Walker Hill Dairy” 530 Seventh Street S.E. Atlantic 70 This question is one which may be heard on al- most any day in almost any place, and, strange to say, it is seldom answered satisfactorily. The real answer is to be found in the w_ord “li- sits held by most commercial banks are eposits—that is, subject to immediate ar by the customers. For this reason a banking institution must always be repared on short notice to meet withdrawals of a large part of [its deposits, - If it were ever unable to pai; depos- itors upon demand it would be closed by the State or the government. Thus, a bank owes a duty to its depositors to Keep its assets quickly available, or in liquid form. It is apparent that in determining whether a loan shall or shall not be granted, the bank must con- sider not only the borrower’s ability to pay but his ability to pay tgui(:kl . "Applicants for loans ' might have unquestionable assets, yet, if the assets were such as could not be turned into money im- mediately or upon short notice, the bank might be laceddin a serious position before collections could made. ; Every hank has a credit department, whose function is. to .analyze statements and determine not only the character and responsibility of bor- rowers, but also the liquidity of their assets—not only whether they can pay, but also how. quickly they can pay.. .Generally speakmg, 8 ratio of two to one is required—that is, the borrower. should The d demand withdraw. This is one ‘of a series of "qilvert‘i.nmcntt 'terprise. have quick assets (those quickly convertible into cash) of twice the amount of his current liabilities (short-time obligations, such as notes and ac- counts payable). It is easy to see that the large customer often finds it easier to obtain loans, because he knows the necessity of liquidity. He renders audited financial statements periodically, and, finally, he realizes the importance of carrying satisfactory dgposit balances with his bank. - On the other hand, small business enterprises frequently keep inadequate books, are unsystem- atic in their business methods, and are unable to render satisfactory statements to show their true financial condition. ' Sometimes they have insuffi- cient operating capital. Very often they overlook the necessity of maintaining: the proper ratio of quick assets to current liabilities, and keep’ too much money tied up in buildings, slow accounts and the like. ; In many cases small concerns do not get the credit to which thei might otherwise be entitled because they fail to keep balances that make their banking business worth while. It is a general rule that a borrowing customer shogld maintain a balance of at least 20% of the loan granted. This is a sound principle and often determines whether the bank will extend the de- sired accommodation. . : After all, a bank is like any other business en- it must accommodate its profitable customers First. . explaining the relationship. between the banks-of this city and their customers.: DISTRICT OF COLUMBIA BANKERS ASSOCIATION " Every Bank.in the District Is Under-U. S..Government Supervision ¥ f