Evening Star Newspaper, July 27, 1926, Page 5

OLD DUTCH MARKET 10 CONTINUE SALES Receivers Will Operate Chain in Hope of Pulling 'Th!'ough Crisis. The business of The Old Dutch Mar- J/§. xot, Inc., local chain store provision orgenization which went into volun- tary receivership yesterday, will be continued in an effort to straighten its present financial difficulties, accord- ing to Hilla G. Hoskinson and Ken- neth C. Ros receivers appointed by Justice Hoehling. ‘While the company has assets of $850,000 and liabilities of $272,000, of which $137,000 is due banks, according to the petition for receivership filed by Joseph A. Whitfield, president of the company, those interested in the organization’s continued - operation point out that it does an annual busi- ness of $2,500,000 through its 23 branches in_ Washington and two branches in Virginia, and it is very possible that the corporation will be successfully carried through its pres- ent crisis. J Difficult to Get Credit. The petition filed by Mr. Whitfleld states that lack of working capital and difficulties in getting credit are respon- sible for the present situation. Those familar with the concern said today that this lack of ready cash and abil- ity to obtain only short time credit over a considerable period in the past, is due to a number of circumstances. It was pointed out that the organi- zation spread rapidly during the war, increasing in every branch, and since that time business has not been suf- ficlent for the expansion. The com- pany, it was stated, had on its hands during the war period a considerable amount of sugar upon which a heavy loss was taken when the Gov- ernment uhdertook to fix prices. The organization also erected a large mar- ket at 622 Pennsylvania avenue in the expectation of doing a big busi- ness. This, according to officials, did not work out as well as was expected. The Old ‘Dutch Market, Inc, is interested in the Zero Products, Inc., which now occupies the building, at 622 Pennsvlvania avenue. the ©ld Dutch Market of Richmond and the Old Dutch Realty Co., to the extent of a large amount of common stock, but does not own controlling interests, These organizations, it was added, are paying concerns and by reascn of their being separate corporations will not be affected. The stock in these corporations owned by the company in receivership, however, in the natural course of events will be reckoned as assets of the organization. Lawsuits Prevented. The receivership, it is sald, will pre- vent a number of lawsults by credit- ors. After a proper arrangement and time for adjustment, ample protection for the stockholders and credlitors is expected. Mr, Ross is treasurer of the company and Mr. Hoskinson is a vice president of the Riggs National Tank. Both these reccivers will be- gin at once tc continue the business under the order of thé.court. Attorneys Simon, Young and Koe- nigsberger and Brez, appeared for Mr. Whitfleld. Leonard A. Block is counsel for the corporation. EMPRESS RECEIVES' CALL. Marie Charlotte Hostess to Belgian King and Queen. BRUSSELS, July 27 (#).—The King and Queen today visited former Empress Marie Charlotte of Mexico on the 69th anniversary of her mar- riage to Maximilian, the {ll-fated Em- peror. She talked a long time with their majesties, addressing them as prince and princess, as she has never been informed of the death of her brother, Leopold II of Belglum. Members of her entourage say she now has entirely recovered her mental powers, and that she frequently refers to Maximilian. > TItalian Hydroeleotric Plants. Hydroelectric plants totaling 1, 230,000 horsepower are now being constructed in Italy, alded by gov- ernment subsidles. % PAID ON SAVINGS DEPOSITS MORRIS PLAN BANK Under Supervision U. 8. Treasury 1408 H ST. N. W. —— e e NG STAR, WASHINGTON, D. C PRESIDENT BLAMES TOURISTS’ ATTITUDE FOR FIGHTS ABROAD (Continued from First Page.) added that while the United States has undertaken to do what it could to help the nations 6f Europe in their reconstruction work and stabilization, and to a certain extent has been suc- cessful, the most helpful thing we can do at this particular time is to be more considerate of the situation abroad and of the feelings of the for- eign people in question. He hepes Americans _will be big and kind enough to make allowances for the conditions they find in foreign coun- tries and that they will not indulge in any unwarranted attacks of criti- cisms. The president was represented as saying that the people of the United States should feel thankful that our country is prosperous and at peace and that our own condition is as good as it is; that we should manifest a desire to have other nations working toward .those same good condltlons; that we should feel like helping those ‘who are not so fortunate. Not Greatly Disturbed. The President gave the impression of having received advices from the State Department that caused him to feel not greatly disturbed or worried for fear that the anti-American feel- ing was widespread, or that the gov- ernments of foreign countries in question would not understand the real feeling of sympathy and friend- liness existing generally throughout the United States. The President sald through his spokesman that he expected Richard ‘Washburn Child, former ambassador to Rome, who arrived at White Pine Camp today, to remain as a guest for three or four days. He sald that Mr. Child’s visit was not for the purpose }o;t discussing foreign matters with im. Edsel Ford and his wife also are guests at White Pine Camp. Regarding Mr. Ford's visit to the Coolidge camp, the President’s spokes- man explained that the former was invited to_discuss no particular mat- ter, The President realized that be- cnuse of the wide business activities of the Fords he would like to have an expression of Mr. Ford’s opinion of the business situation = generally throughout this country. Believes Tax Cut Helped. The splendid condition of business the President attributes partly to the reduction in taxes. Tax reduction, his spokesman stated, has greatly stimulated business, and now that there has'been no slump during the Summer, he is inclined to think that this prosperous period will continue. The President also will ask Mr, Ford about the progress he and his father are making in their plans for develop- ing_commercial aeronautics. ‘While at the office today the Presi- dent was represented as saying that there was no occasion for the calling Tickets on sale every Sunday, good on all A regular trains—7:15 to and including 1:00 P.M. from Union Station (except No. 6, 9:10° A.M.)—good returning on all after- noon and even No. 5, 1:52 P.M.) Sunday highway Avoid the ing trains same day (except congestion. 60-minute trains with clean, modern coaches make for travel safety and comfort. Baltimore & Ohio ‘A Cigar That “Surprises I5¢ Quality at Abou Half Price The impossible has become possible. Now, in the Chancellor Panetela at 3 for a quarter, we offer our new-day climax. Overnight a new leader is created. Already the Liberty Chancellor is the largest selling 10c cigar in the world. To smoke three Chancellor Panetelas is to agree that such quality at 3 for a quarter is a disfinct achievement. M b New Way Packing As 3 for a quarter is a popular selling unit, we present a new idea in packing which appeals tomen because it is very sensible. One Panetelais ready to smoke—two are wrapped in _foil for pro- tection while in your pocket. “Smoke one, carry two,” the dealer A i :fl'"' iR This cigar is a sensation. So great is the demand that we can supply only a few cities, this being one of the fortunate. 2 ! The wise smoker is quick to realize the new value of . See what it buys now in Chancellor Panetelas. quarter. You'll be amazed. DISTRIBUTED BY WASHINGTON TOBACCO CO. ‘WASHINGTON of an extra session of Congress. This was in answer to questions concern- ing newspaper reports that there is a movement on foot to bring about the calling of ‘an extra session within a few weeks. It was Intimated that ad. ministration officials considered it ad- wvisable to call Congress to enact some real farm rellef legislation. ‘When President Coolidge today learned of the sudden death of Robert T. Lincoln, son of President Lincoln and a resident of Washington, he paid a tribute to the memory of that gen- tleman, who has lived virtually in obscure retirement in the Capital for 80 many years. The President looked upon Mr. Lin- coln as a man of remarkable attain- ments, whe, while under a tre- mendous handicap by constant com- parison with his father, had a jre- markable career and left. hehin: a most creditable record; one of which any American citizen should feel proud. Mr, Coolidge said he had met Mr. Lincoln on a number of occasions, but their meeting was when Mr. Lin- coln was well advanced in years. Hotel Inn 604-610 9th St. N.W. . Daily, $1.00, $1.50, $2.00 17 ooms. 88 weekly! $10.80 rooms, 21 with tollet, shower and lavatory, $ 2 in room. 60 % more. 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