Evening Star Newspaper, October 24, 1926, Page 48

48 T —_——— that shows quality. HE SUNDAY STAR, WASHINGTON, GREAT BANKS OF U S. PRECLUDE figuring on lowest balances for the D. C. ‘OCTOBER 24, 1926—PART 1. FEVER ONCE GREAT B v HEAT IS LOWER FACTORIN MARKET 30 Years Ago Yellow Plague! News Swung Stock Prices Strongly. ' STEUART P. WEST. ch to The Star. NEW YORK, October -My dis- patches of Wednesday mark the beginning of the thirtieth yvear of a iter in Wall Street. The first day Octoher and York 1 Adver 1 had taken of the courses Harvard. but =till this did not equip me to start in immed lately writing about_the markets. The editor gave me ) weeks to pre- wave, after T had »en assigned to 8 my job. The first day 1 got an awful at- tack of nerves and had to call in a man who was then a prominent financial writer, and who has since become high up in Government affairs. to help me out. It was a wonderful relief when he took over the dictation. It iz curious to look back to 1897 and recall what we used to write ahout at that time. There was a revolution down in Cuba, and we spent quite a bit of the daily articles dis- useing this. But more important than znything else was vellow fever. | This dread disease (now a matter of history in ‘he United States, thanks to the Public Health Service) used to appear regularly in the late Summer and early Autumn, and the market was terribly sensitive to the varying reports on the subject. Advices would come gaying that there ‘were “twn more yvellow fever cases in New Orleans,” and prices would break @ couple of points. The tweather map used to be tudied with the greatest interest. for with the approch of colder tempera- tures the fever would he checked. Then we were accustomed to say, “The market went higher to day because of colder weather in the South and the ahsence of new yellow fever cases.” Two big industrial stocks at that time W American Sugar and Chicago Gas, the latter now known @s the Peoples Gas Co. of Chicago. These stocks, along with the old American Tobacco, fluctuated wildly. 1 do not think that anybody was ever nhle to heat Amerjcan Sugar—that is, for any length of time. It had a habit of always moving against the market. Speculators would buy the stock while prices elswhere were going up, only 1o see it break violently. In the midst of a bear market, with everything going to pieces, the traders would well Sugar’—and find themselves 1aking in their short contracts before long 5 to 10 points higher. As to the ralls, Northern Pacific paid three assessments and after these were tacked on to the price £old as low as 2%. Four years later, in the famous panic, the same stock £old at §1,000. 1 remember a relative of mine lying awake nights worrying zhout his speculation in Union Pacific 4t $16, with two assessments paid, and finally selling out at a consider- able loss. In 1909, 12 vears after- ward, Union Pacific sold at $219. Reading Slow Mover. Reading was selling around $15 per ehare and used to move not more than a half point a month. It was & Joke to talk about buying Reading at that time. We used to refer con- temptiously to Reading and also to gouthern Pacific, which was in about the same position, as very low-priced yails which could not be budged. James R. Keene was the big leader at that time. The market would hreak and people would ask what was the matter. The reply would he, “Jim Keene is selling stocks all around the rorm.” Keene had the reputation of being usually a hear, but he could turn the other way when he found too much company ‘on the short side. Big operators like Keene cut far mere of a figure then than they do nowadays. A market of 500,000 shares was a great big market. Set heside the 2.000.000 to 3,000,000 shares daily trading which Wall Street has been accustomed to in late vears, the big @ixs of 30 vears ago are dwarfed. The autumn of 1897 was not par- ticularly interesting, nothing like the yeriod 12 months before. In August. 1596, William J. Bryan. running for the presidency, made his famous fison Nquave Gardsn speech, and next the bottom fell out of 1 = reached lower levels were destined to see in a most economic STU A e 1 1 1 wn they neration Was In-Between Time. vervhody hought that with the Yepnblican vietary in November there Id he <omeihi like & hoom, but ore was mot. There was a1 tem iy rvise. which flattened out he. nse husiness conditions ad heen so depressed with commodity oW That recovery was very A0 in-hetween-season fime | were writhne about 4 veare The excited happenings lav be. | nd da Stll A youn when 1 out the Maine explosion in na Harbor in the late Winter of There was, af course, a wide. 1 hreak. but it did not more A Then prices nd to discount th an trinmph, forget of 3 prices slow ter last b ien in I «h hen May the v This precipitated hiving movement and Kept up duri t of the fol! i neipal difference ion of 1847 and les in credit conditions Almost #riabiy, before the establishment he Federal Reserve Nysiem. the 1 1 year witnessed a money wonld t the Stock Now this contingeney. if < a1 least improbable. deral Reserve, the banks practically poole their re. If theve were a strinzency 1 of the country it could + readily ved by the transfer of $onds from other districts In the old times it was a regular for the Interior hanks to call Wall Street loans in order the financial vequirements of moving. This would force hd bring about a more decline. depending upen not there had been much speculation in the preceding mer. Nowadavs there is no about credit. Money is not zet above 6 per cent, whereas, fine day in December. 1899. it was quoted at 160. J. R. Keene was ©n top of the market that day. In the panic of 1907, on October 28, ahen the Knickerbocker Trust Co. led, call money was simply un phtainable. One broker was instructed to go into the money crowd and borrow a half million—a very small the the that pinch ich Sxchan, ne dation hether DESCENT TO EUROPEAN BASIS One Near Billion-Dollar Mark in Deposits. Sixty in $100.000,000 Class—Vanderlip Big Figure in Finance. BY I. A. FLEMING. There are not more than 60 hanks in the United States that have de. posits of $100,000,000 or over, 16 that have $200,000,000 and under $£300.00,- 000, and 7 that count their deposits in the $300,000,000. There is one great outstanding bank, alone in a class all by itself. no other institution in the matter of de. posits heing within listening distance, and that is the National City Bank of New York. with but a relatively few more millions to reach the billion- dollar mark, never reached by an American institution. Bankers will be interested in this list, which in itself is the most domi- nant evidence ever needed that bank- ing in America will never descend to the level of European methods, of one great bank and many branches. as the opponents of branch banking seem to dread. List of Big Banks. The banks with deposits in excess of $100,000,000 are: National City. New York, $96: Chase New Trust, National 5,005,640 rk, New B 9 Com- | ew York, § RBank- st. New Yor 6 Equitable Trust, New Yor 020; Continental and National, Chicago, $400,364.1 of Italy, San Francisco, $391. Irving Bank-Columbia Trust, York, $386,922,900; Mlinois Merch Trust, Chicago, $381.265,840: First National, Roston, £305.348,080; Union Trust, Cleveland, $299.361.330: F grant Industrial Savings Bank. York, $278.358,770; Central Trust, New York, $272,041.150 Natfonal, New York, 57! First Natlonal, Chicago, §259,401, Bowery Savings Bank, $259,310,800; Manhattan C York, $256,548,170; Corn Exchange, New York, $252.245.940; New York Trust, New York, $ 3; Chat- ham and Phoenix, New £231.- 23.410; Cleveland Trust, Cleveland, 0,541,080; Security Trust and Sav- ings. Los Angeles, $220.987,060; American Exchange-Pacific National, New York, $222916,260; Philadelphia Savings Fund, Philadelphia, $212,913,- 300: Philadelphia - G ational, Philadelphia, $205,6, Manufac- turers’ Trust, Ne £200,137,- 630; Marine Trust, Buffalo, $1 710; Pacific Southwest Savings, Los Angeles, ational Shawmut, Boston, 390; Hanover National, York, $168,849,270; National Park, New York, $161,608.760; Mercantile Trust, San Francisco, $161,214,700: Old Colony Trust, Boston. 158,310 Seaboard National, New York, §13 983,100; Peoples State, Detroit, §1 741,800; Chemical National, New York, $146.892,240: Bank of America, New York, $144,601.150: Farmers Loan and Trust, New York, $143,40 540; Mellon National, Pittshurgh, $140,550,970; First National, St. Louis, $139.462.810; Bank for Savings, New York, $136,665 Industrial Trust, Providence, $136.600.000: Union Trust Co., Pittsburgh, $127,203,500; First Trust and Savings, Chicago, $121.1 Guardian Trust Co. Cleveland, 9.714,380; Dry Dock Savings In- stitution, New ~York, $118.399.520; Wells Fargo Bank and Union Trust Co., San Francisco, $115,642,330; At- lantic National Bank, Boston, $114.- 974.070; First National Bank, Detroft, $114,604.830: Public_National Bank, New York, $111.717.010; Wayne County and Home Savings Bank, De- troit, $110,833.130; The State Bank, New York, $110,246,340: Greenwich Savings Bank, New York, $109. 110;: Dime Savings Bank, Brooklyn, $106.462,720; The San i Bank, San Francisco, Unfon Dime Savings $102,849.260; Rank of ¢ York and Trust Co., New York, $101,915,470. Washington May Have $100,000,000 Bank. One of these fine days in the not so distant future Wachington may have a bank with $100,000,000 deposits. It is almost indicated in the steady growth of the years that have gone, but it may come much quicker through a consolidation or two that might be outlined as a possibility of the next few vears. There have heen some consolidations here and there will be more. Consolidations have been responsible for many of the rongest financial institutions of New York, Chicago and other cities. Chicago's Blg Banks. In the case of Chicago. the premler institution, the Continental-Commer- cial National. represents a union of the two banks named, both nations Comme; : Bank 21.440; st and of the American Trust and Savings Bank. the Bankers Trust Co. probably ‘one or two others. The Tllinois-Merchants Trust Co. in- cludes the two big trust companies named. both among the oldest institu- tions in Chicago. the Corn Exchange National Bank and perhaps others. In this institution are merged the inter- ests of some famous merchants and men of olden Chicago. Marshall Field was long identified, and his estate is probably represented today in the Mer- chants Trust and Savings. “Old Hutchinson.” as B. P. Hutchinson, one of the early packers and grain men, as well as the Blairs-Stallwarts of the keep-your-bank-open-always policy, were prominent in the Corn Exchange National ‘way back The M National and Union Trust are cld-time banks of Chicago. While they may have merged with other banks. the long years that have passed since their organization en- titled them to high recognition. The First Trust and Savings was largely a gift to the First National sharehold- ers by that bank. ‘Washington Not Industrial City. Washington is not an industrial city, and the wonder is that the local deposits are as large as they are. Aside from a few factories, there isno production, much of the husiness is re- tail, many of the workers are on Government pay, and there isn't the opportunity to accumulate great sav- ings—no great industrial corporation with an army of workers. Conditions in the varfous cities named are directly the opposite, and, all things considered, Washington s to be congratulated on her showing. Our American Security and Trust Company is responsible to its custom- ers for very much over $100,000,000, because it ‘is the guardian of over £090.000.000 in estates intrusted to its care, a sacred obligation. The National City Bank. This bank. with its $365,000,000 of deposits, has had a_wonderful career under the senior Stillman. advanced to greater success under Frank Van- derlip, who was an embryo banker when he hecame vice president of the Institution following his retirement from the Treasury Department under Secretary Gage. Up to 1897 he was financial editor of the Chicago Tribune and was brought to this city as pri- vate secretary to Secretary of the Treasury Gage. He put over successfully a big hond issue In 1898 or a little later, which will be remembered as one bond sale without the adjunct of a certified check with bids. The bonds went to a big premium and many small fortunes were made by clerks who were wise in their day Mr. Vanderlip and the late M. F Ailes” were great friends and their friendship continued up to the day of the latter's death. When the former went to the National City Bank as vice president, Mr. Afles joined the forces of the Riggs National. He himself has laughed heartily more than once as he told the story of how he had borrowed $500 from a friend when he went to the RIggs “to tide him over till pay day, as he did not know whether the bank paid as regularly as the Government did.” Vanderlip As a Banker. It is reported that Mr. Vanderlip, on reaching the National City, was in- troduced to the various officials of the bank and assigned to a desk “in the line.” For two days nothing happened and on the third day he made a start that resulted wonderfully. Sending for one of the assistant cashiers, he re- quested a list of all the bonds held in the vaults of the bank. At least this story was told in all serfousness. Having obtained it he prepared a special list of “we own and offer,” making selections of a large number of bonds. This list he gave to the of- ficial with Instructions that it be given to the morning papers for half-page advertisements. The assistant cash- ier protested that the National City never sold bonds, but was cut short with orders and the information that “from now on it will.” Bonds were in good demand and the bank did a land- office trade the next day and the next, and from that day on Vanderlip was successful until he went into the presi- dency and was finally relieved to make room for the younger Stillman. He was the organizer of the Na- tional City Co. and a successful offi- clal for the bank and for himself. Per- haps there is an embryo banker in financial writer? and Surprised at Interest Cost. Figures published in this column a week ago indicating that the one item interest cost the national hanks 33 per cent of all their expense was something of a surprise to lay- men, who had formed the conclusion SAY “BAYER ASPIRIN" - “omuine \When you see the “Bayer getting the genuine Bayer . Gra on tablets, vou are \spirin proved safe by mil- lions and prescribed by physicians over 25 years for Headache Neuralgia Colds Pain Neuritis Toothache Lumbago Rheumatism DOES NOT AFFECT THE HEART month, one could hardly see how 33 per cent of all could be reached. Investigation develops that nearly all banks pay interest on checking ac- counts of large amounts, that the trust companies pay on all deposits 2 per cent to banks and on daily bal- ances on checking accounts and 3 per cent on savings. Four per cent is very generally paid on certificates. Local bankers admitted that 33 per cent of thelr expenses is about right for the item “interest on deposits.” Need Business Men. Commissioner Rudolph has served the District ably during all the vears of his terms. His successor should be a local man, a business man. and one posted in the needs of the District. Until such time as the President ap- points the separate public utility commissioners, the present hoard will act in the dual capacity of Commis- sfoners of the District and Public Util- ity Commission. The act creating the latter commis sion did not provide the means for recompensing the appointees, President has not made any The Utility Commission should he | composed of only pre-eminent Wash. | ingtonians familiar with the public | utilities situation. The Supreme Court has settled the status of public utili- ties so far as limitation on revenue is concerned. There are thousands of men, women and estates represented in the owner- ship of the millions of public utility securities, and their rights must be | gared for as well as those of the pub- ic. a bank's expenses s0 |he‘\ Outstanding Features. “What was the outstanding.feature of the A. B. A. convention?" ; “Clearly the address of H. H. Me- Kee, president of the National Cap ital Bank of Washington on ‘Branch Banking.' " was one answer: “the re- peal of the indorsement of the McFad- den bill in =0 far as the Hull amend- ments were concerned and full en- dorsement without them™ was an- other, while a third reported “the movies on location at Santa Barbara.” B BANK CLEARINGS. NEW YORK. October 23 () — Figures compiled hy the Commercial and Financial Chronicle from leading citles show hank clearings for the past week of $10,472,721.423, a de- crease of more than 1 per cent from ‘he corresponding perfod last when clearings totaled $10.594, 189. The decline in New York City alone exceeded 5 per cent. | ON PROFIT-TAKING Close Is at Day’s Lowest Figures—Buying Support Is Rather Thin. By the Associated Press. CHICAGO, October 23.—Notwith- standing that May wheat today touched §1.50%. the highest price vet this season, the wheat market as a whole averaged lower. Selling to realize profits was much in evidence, and unofficial Canadian crop reports proved to be less bullish than was expected. Closing _ quotations on wheat were weak. % cents to 114 cents net lower: corn, 3 cent to 11 cents off; oats at 3 cent decline to 1, ent advance, and provisions varying from 2 cents, Wheat finished at about the day" lowest figures. The heavy profit-tak- ing sales disclosed that support from buyers was rather thin. the trade as | g, ynder lighter demand, except for |0 a rule being cautious about following | advances. Rains which were reported as having fallen over some sections of Argentina appeared to act as more than a_counterbalance for frost-dam- age talk from north Argentin sides, export demand for North American wheat today seemed to have slowed down. although France was sald to he taking at least a little, Likelihood of a moderate decrease in the United States wheat v supply total on Monday failed check the late downward trend of the market. Announcement wa that world stocks of wheat had in creased 4 00 bushels in Septem. ber. Advices were also at hand point- ing to a prospect that ocean freight retes were going higher. Latest esti mates indicated that per cent, of the Canadian wheat crop has been threshed, a larger amount than was generally supposed. Corn dragged lower, influenced hy hig receipts. Oats were responsive to weakness both of corn and wheat. Packers' buying of November lard upheld the provision market. . The cynie thinks that a hypocrite fs a married man who pretends to feel sorry for a bachelor. ) i —Includes richly fizured Jacquard velour i ity ]l as fine spring construction with others advertis realized by being her With every suite at this p any End Table, Gilt Picture F Scatter Size Rugs, Swinging P! Sweeper, Beautiful Venetian Mi Sunburst Velour Cushions. Loose cushions that are reve, Weekly or Monthly Payments at Peerless, iny patterns of long-w ing qual ible, roll arms on all pieces, as throughout. Just compare this value n n d and you will appreciate the saving that can be > tomorTrow. e you get, absolutely free, a Mahog- me, Bridge Lamp and de. Two ture Holder, Bissel's Metal Carpet rror with gilt cord and Two Beautiful ith St. N.W. cents gain to a setback of 7| Be- | sible | to ! made | Baltimore Markets BALTIMORE, October 23 (Special). —Market for white potatoes rules firmer under moderate receipts and a fairly good demand. but centered on round graded stock at 3.00 to 25 per 100 pounds, while ungraded any No. 2s are slow sale at 1.25 to 1.50. | Sweet potatoes and yams are ample receipt and the market I under slow demand at 1.50 to 2.25 a | barrel for the former and 1.50 to 2.00 for the latter. Bushel hampers of sweets and yams sell mostly 30 to 751 as to quality and conditio | vative and nearby garden ‘truck continues in ample receipt and values show little change from last week. A fairly good demand prevails, however, and the market closed steady at the following quotations: Stringless beans, 1.00 to 1.50 bushel; bee 2.00a3.00 100; hroceoli and kale, 37 bushel; c: bage and c 00 100; sugar in | corn, 15 to 30 dozen; eggplant. 1.00 basket: lettuce, 50 to 1.00 bushel; | onions, 1 to 2.00 100 pounds: oyster [ plants, 5.00 to 7.00 100; pepper to ! : pumpkins, 5.00 to 10.00 100; | spinach, 25 to 40 bushel: tomatoes, 30 to 90 basket, and turnips, 35a40 bas- ket. |50 baske Live Stock Quotations. The general live cattle market rules | topgrade stock, of which there is no | surplus. Wharf receipts, however, continue mainly or ordinary grade, which are hard to place and of irreg- ular value. Quotations today at Light street wharf: Beef cattle, first qual- ity, pound, 8ad:; common to medium, pound, bulls, as to quality, pound, 4a6; cows, choice to faney. pound, 3a6: common to-fair, pound, 3a4; oxen. as to quality, pound, 4a# choice to fane mmon to fair, . Ives, veal; choice. pound, | ordinary to” medinm. pound, rough and common. pound. 8a9: sma pound, 7as: sheep, choice, pound, | old bucks. pound. common, | pound. 2a3: lambs, Springs, fair te | good, 11a13; common, thin, pound, Sa 1 10: hogs. straight. pound, 13a14: sows, pound, 10a12; stags, pound, 6a8; old pound’ 4a5: live pigs, pound, boars, 15a18; shoats, pound, 12al5. Dairy Products. Receipts of native and nearby strictly fresh eggs continue to run very light—too light, in fact, tq offer on the egs exchange, and they are taken up daily on the street by buy ers who in many instances pay a 20.00050. 1415a1 1a13; | by Western so-called fresh eggs, which stock that do not show quality. a dozen for firsts in free cases, an ad. prices Monday. dull |and a good demand prevailing for all also selling quite readily. Small, poor springers are in ample and thin are neglected at 18a20. are not wanted demand for. draws closer, although young stock, fowl and pigeons continue in fairly | |latter. | Washington. premium over quotations for stock PEERLESS FURNITURE CO., 829 7th ST. N.W A Sale of $198 14-Piece Living Room Groups Handsome 3-Piece Overstuffed Suite A feature value with which to introduce our New Fall Furni- ture. Three massive pieces in several styles covered with high-grade, This heautiful outfit cons Dresser with extra large mirroj drawer Vanity—add twenty dol walnut veneers to match. Also Guaranteed pretty E: Bed Lamp and beautiful Metal also pair of pretty Blankets on gum and other sel Frame for dresser. Two S all at this low pr Weekly or Monthly Payments at Peerless, 829 ith St. N.W. $198 15-Piece Bedroom Note All the Useful Items That This Group Includes sts of Full Size Bow-end Bed. Massive Roomy Chest of Drawers and Two- lars for Full Vanity—of fine selected ahinet woods, and Cane-seat Bench Spring and Two Fine Pillow atter Rugs, pretty Electric Lamp and Shade to match, e at the “Pe i3 Link Boudoir Breakfast Sets Four Break fast Specials newest desiens. Unfinished and four cuairs $11.75 Unfiniched | table and + paieled-vack chaifs, Attractive uite in - the styles and table round QOutfit $ 829 7th St. N.W. Between Majority of trade wants today are being largely filled are preferred to offerings of nearby The market closed today at 48a50 vance of 5 cents a dozen over opening Prompt and frequent shipments and careful grading are advisable to command top values. The general live poultry market rules steady under only fair receipts stock showing quality. Young chickens selling better now than when small and fat, but large, fat stock fowl and common to ordinary rough receipt and slow to give out, as the best trade does not want this sort. of stock. Medium to large springers sell 7 pound. and Leghorns. 23a24, but poor Fat old hens continue in good and constant demand at 27a30, but poor and thin old hens will not bring over 20a25, while Leghorns and old roosters are slow at 18a20. Market for ducks continues steady with a fairly good demand for large fat stock at 24a26, but small and poor at 18a20. While the turkeys is still limited. the market holds steady as the season 9 pounds and over, meets with ready sale at 42a43, but old hens at 38a40 and old toms at 35a37 are not | active. | Shipment of young turkeys under 9 pounds not advisable. Guinea | good demand at 60a75 each for large | voung, and 40a50 each for small of the former, and 20a35 a pair for the e i, e | PEOPLES DRUG STORES. 3 October 23 (#).— have been added to ed by Peoples Drug Stores, Inc.. bringing the total up to 40. A’ new store has been opened in D. C.. and going estab- lishments purchased in Danville and Portsmouth, Va. TWO FIRMS ARE FORMED. NEW YORK. October 23 (#).—Pre. liminary to new financing of about .000.000, two American corpora tions have heen formed to acquire part of the German industrial proper- ties built up by the late Hugo Stinnes. Certificates of incorporation have been filed in Maryland for the Hugo Stinnes Industries, Inc., and the Hugo Stinnes Corporation, capitalized re- spectively at 300,000 shares and 1,200, 000 shares of no par value stock FALLING OFF SEEN IN STEEL DEMAND Copper Exporters’ Body Fails to Stimulate Demand for That Metal. By the Associated Press. XEW YORK, October 23.-—-Thers was a_further falling off in the de. mand for steel during the past week, notably from automobile manufactur ers, and the market seemed to reflect the effects of the unusual activity ex. perienced during the Summer. Lead ing steel manufacturers were very op- timistic in their statements relativa to the condition of the trade and their predictions for the future. however and the market was steady with pro duction well maintained. Pig ir Al was moderately active with numerous ¢ sales of small lots and prices were steadily held. The " inauguration of Copper Ex porters, Inc., as the chief factor in the export trade. has failed to stimu late demand, and the copper market has been verv qiiet during the past week. A modera’e inquiry has been reported frqm consumers, but very little business placed, and some sellers have shaded prices with small lots of electrolytic reported available at 14.0712a14.10 for shipments extending over the next two or three months Producers are showing no disposition to press for business, however. and in most instances were still asking 1414 at the end of the week. Tin reacted considerably from the high of a week ago. most of the de cline being in prompt Straits. which were fn most plentiful supply. Un settlement in Wall Street and the downward trend abroad offset expec- tations of favorahle monthend sta- tisties and the none too reassuring out- look as to prospective supplies. Lead showed no appreciable change, notwithstanding declines in London. Bellef that current prices will prove to be practically the low of the decline has stimulated buying by consumers Zine showed a slight falling off early in the week, due to the decline abroad, but a good demand was evidenced on the setback, and a steadier tone prevailed at the close of I the week MRy COMPARE PRICES SAnd You'll Buy Furniture Here For I ess Money/ We Encourage Price Comparison So confident are we that our prices are lower that we encourage you to compare them with those of others. Our tremendous buying power enables us to buy for less and the saving we realize is passed on to our customers to whom we helieve it rightfully belongs. habit of watching our advertisements and y it in the way of better values and lower prices always. §29.00 Very Spacious Chifforobe $17.95 Lote of room. and finished to perfection. _Your choice of oak or walnut finish. Better nlan on gzetting one at this great saving LT Make it a ou will prof- I AL 50 “Simmons and Fo:ter” Bed, Spring and Mattress Complete $15.75 Bed. complete mattress and Sensatfonally Beautiful Metal with _comfortable fprings. At such ow Drice. a nts at th Ntreet $198 9-Pc. Dining Room Suite When vou can get a beautiful dining suite of nine pieces, with a f0-inch buffet, ing table that extends to § china cabinet h tapestry or solid leather 3 that rare value indeed! In handsomely a 45x60-inch d feet when desired and six chairs w upholstered seats. a roomy u know solid gum this makes place your order at once! Easy Payments at Peerless, 829 Tth Street N.W. Open an Account Tomorrow! CUSTOMERS —-receive every privilege ; you can pur- chase all your furniture here on eur easy-to-pay plan, and we prepay all freight charges for you. very striking suite, and 119 walnut it is a figured veneer on vou $14.45 and $22.50 Opens into ull Compinte "wiih ® erfiihne 7 Wattress pad. Without With heavs fillers and posis at the ends, $22.50. A super bargain' Fasy Pavments at Peerless. 829 Ith Street a hed covered ds. $14.45 I ! Buy Now—Your Purchase Held Until Wanted amount—and pay the limit whatever §' was He could not zet an offer gfter hidding 100 and 200 per cent These were the old conditions. They can never he repeated now with the ¥ederal Reserve Bank willing to re jiscount at comparatively low rates for member banke, with ample re. gources, as they all ba $14.75 EASY TERMS Accept only ‘“Bayer” package H and Eye which contains proven directions. Handy “Bayer” boxes of 12 tablets. 5 '1 Also bottles of 24 and 100—Druggists. Aspirin is the trade mark of Bayer Manufacture of Monoaceticacidester of Salleylicacid IS