Evening Star Newspaper, December 22, 1927, Page 10

10 ITALIAN CURRENGY NOWONGOLDBASIS Stabilization Marks End of Financial Campaign by Mussolini. By the Associated Press. ROME, December 22.—Italy was on & gold basis today, with the lira ‘es- tablished at the ratlo of 10 to the dollar. One gold lira will be worth 3.6 paper lire. The decree of the council of min- fsters announcing the stabilization marked the culmination of a cam- paign started by Premier Mussolini in a speech at Pesaro more than a year ago. He then started “a bat- tle for the revaluation of the lira.” The stabilization was the result of megotiations by Benjamin Strong, gov- ernor of the Federal Reserve Bank of New York; Montagu Norman, gov- ernor of the Bank of England; Donaldo Stringher, director general of the Bank of Italy, and a group of Anglo- American bankers. As a result two credits totaling $125,000,000 will be opened. Does Not Affect Loans. The stabilization does not affect various American loans made to the Italian government, several municl- palities and many private concerns. Payment of interest as well as princi- pal of these is to be made in dollars. .These include a loan of $100,000,000 made by J. P. Morgan & Co. after Minister of Finance Volpl went to America to settle Italian war debts, Mussolini, addressing the council of ministers, said revalorization of the lire today at a higher percentage would be possible but not desirable, for the reasons—first, because, as hap- pened in other countries, it would be to the advantage of the forces of in- ternationai speculation; second, it would cause either a most grave con- tinuous crisis or no less grave periodic erises dangerous to national economy; third, it would impose upon the states, then upon the taxpayers, insuperably onerous charges. Japan Down on List. The council of ministers enumeated favorable existing conditions as per- mitting the return to a gold basis. One credit for $75,000,000 will come from the central banks of 14 coun- WAS SPENT TO PERFECT THIS o] e———=|o]c———]a[———[o]——=d] tries, including the United States and Japan, with the Federal reserve sys- tem and the Bank of England at their head. Theq, other ‘will be $50,000,000 from Anglo-American bankers, headed by J. P. Morgan & Co., with Hambro's Bank' of Northern Commerce, the Rothschilds, Baring Bros. & Co., Ltd.; five great British banks and others associated. ’ EXCHANGE RATE RISES. Lira Goes Up on London Exchange Following Announcement. LONDON, December 22 UP).—The return of Italy to the gold standard today left France and Spain as the two principal European countries which have not stabilized thelr cur- rencies since the war. England, Indla, Germany, Holland, Belgium, Denmark, Sweden and Po- land have the gold standard, although in Sweden it is only on the dollar basis. The countries which have not come into line yet are France, Nor- way, Spain, Rumania, Greece, Tur- key and Bulgaria, although Bulgaria is partly on and working toward a gold basis. In the exchange market this morn- ing the lira reachod 9258 to the pound _sterling, which is slightly above the newly fixed parity (92.46). Yesterday’s closing rate was 89.98. THE BUENIRG STAR, WASHINGTON.” D.” €.” THURSDAY. DECEMBER 22. 109%! NEW BOMBING PLANE STOPS AT FIELD HERE Wade Arrives in Capital With Ship on Way to Ohio, Piloted by Leigh Wade, former Army lieutenant and a member of the world flight expedition, the new Sikorsky twin-engined bombing plane arrived at Bolling Field yesterday afternoon en route to Wright Field, Dayton, Ohio, where it will be tested for its adaptability to service needs. The big bomber left Curtiss Field, N. Y., Monday for Washington, but near Aberdeen, Md., trouble developed in one of the engines and Wade landed at Phillips Field, on the prov- ing grounds. Repairs were made and the journey was resumed yester- day. The bomber, in general appearance, bears a close resemblance to_the Ville de Paris, which Capt. Rene Fonck employed Igor Sikorsky, noted Russian airplane designer, to con- struct for him for a flight to Paris this year. The space utilized as the cabin and the nose of the Ville de 75¢c a Week W N CASTELBERG’S 1004 F STREET N.W. Alexandria, Va., Branch—818 King St. NO BATTERIES—NO ELIMINATORS. NO LIQUIDS OF ANY KIND. THIS TRIED AND PROVEN instrument is a revelation in FREED-EISEMANN was selected by the UNITED STATES GOVERNMENT for use on the President’s Yacht, THE MAYFLOWER—for the dirigible' LOS ANGELES. IN AMERICA’S FINEST HOMES. Unsurpassed in the reproduction of TRUE, TONE—FREED- EISEMANN is the MUSIC LOVERS’ delight. The turn of a SINGLE DIAL is like opening your door to the WORLD'S GREATEST ARTISTS. A Limited Number Available for Christmas Gifts CARROLL ELECTRIC CO., Inc. Phone Main 7320 '~ BY NINE OF THE WORLD’S MOST FAMOUS RADIO ENGINEERS RADIO SIMPLIFIED would be a fair description of this most remarkable achievement. radio engineering. 25 Years in Washington Dayton for an overhauling of its en- gines by the Curtiss engine plant at that city. 100,000 Enshrine Spirit. Paris has, in the new bomber, been employed for a 2,000-pound bomb bay, gunners’ cockpits fore and aft and.the bombardier’s cockpit. The Sikorsky bomber is equipped with two Pratt & Whitney Hornet nine-cylinder radial air-cooled en- gines of 625 horsepower each, re- cently developed by the company which now is turning out the famous ‘Wasp 400-horsepower air-cooled en- gine, on a $3,000,000 contract re- cently let by the Navy Department. ‘When the Sikorsky reaches Wright Field it will. be placed in competi- tion with a Fokker twin-engined monoplane bomber and a Keystone twin-engined biplane. A third com- petitor, .the Curtiss Condor, re- cently was badly damaged in a gale at Buffalo, where it had flown from CLOSING-OUT SALE After 20 Years in Business We Are Retiring Note a few of the articles we are offering at half price: Parker Pens and Pencils. Swan Pens and Pencils. Sheaffer Pens and Pencils. Moore Pens. Eversharp Pencils. Elgin Watches. High-Grade Swiss Watches. Gold Rings. Gents Scarf Pins. Diamond Rings. Leather Goods. Eastman Kodaks. Ladies Bags. Souvenirs. Stationery. Fixtures for Sale. These Are Just a Few of the Bargains OPEN EVENINGS Richards’ Fountain Pen & Gift Shop 1225 Pa. Ave. N.W. crowd ever in Kagoshima, Japan, re- cently took part in enshrining in the new temple of worship, Teruhuni Shrine, the spirit of Takamori Saigo, one of the great statesmen of the early Meiji era. The ceremony began at 8:30 o'clock Sunday night, the monster procession wending its way along the streets headed by 30 warriors clad in ancient coats of arms, The day marked the fiftieth anniversary of the birth of the man. C RADIO ’ THIS GIFT of GIFTS At sfirprising-ly low prices ($140 to $275 complete) Cheerfully demonstrated in YOUR OWN HOME without obligation to buy Just PHONE MAIN 7320 n[———=|a|———|a|c——Jajc——=a]c—F——|alc———a|[c———|a|[c———[a[c———[o[e—Sa|e——D|o]c——=|a] 714 12th St. N.W. E%EB:—EEE@B:—:EE—:EE—EEE - — More than 100,000 people, the largest | ——— Just been recelved from penitentiaries | trict are sent. The names of the other 0 FAMILIES OF CONVICTS [isonatidut e smmies families came from other ~peniten. WILL BE CARED FOR|,.L Pave ordered an immediate in-|tiaries throughout ths country. vestigation into the circumstances in| The Salvation Army's work in e i L each of these families,” he said. “It | prisons is mot very well known. we find they are in need of help, we | cers of the army, however, are! doh Names of Dependents of 54 From| Jin'care for them and place them on | tinally visiting prisons, interviewing Capital Obtained by Sal- our rolls for a basket of food for|convicts. Christmas and toys and gifts for the| Contributions to the Salvation vation Army. children. After Christmas we will| Army’s Christmas and Winter velier 5 care for them, continuing to do %0|program should be sent to Salvation Staft Capt. Ernest R. Holz, divi-|until the family is no longer in need|Army, E street. sional commander of the ation |of help.” T B SRS SN Army, announced {od: the | Fred Ladlow, chaplain of the Salva- . families of 54 convi formerly of | tion Army, sent in a list of 44 fa .| There is a special science concer the District of Columbia, would be|the names being obtained from prison- | With the measurement of the e: cared for at Christmas time and|ers in the Atlanta Penitentiary. It|surfacc. It is known as geodesy—. throughout the Winter. He stated |is to this penitentiary that-most of | from the Greek, meaning “to divide that a list of destitute families has!'the Federal prisoners from the Dis-|the earth.” ONLY TWO DAYS LEFT EVERYTHING MUST GO Retlr(leu‘of cost, we are going to clean out every item in our huge stock of Christ- mas Merchandise. Come in and make those last-minute selections. You will find just what you want at less than you expected to pay. RAYON *[AST CHANCE THIS YEAR SHIRTS TWO-for-ONE here but you are the one to profit. You know a shirt is always Selections made for gifts will be exchanged after Christmas if not the right a_safe selection, especially one of these attractive patterns in size or shade. tan, white or blue. There is a variety of patterns to choose from, in sizes rang- ing from 14 sto 16. BASEMENT RAYON LOUNGING ROBES If you give him a lounging robe he will like it, of course, be- cause it comes from you; but he will like it better if it is one of these beautiful Rayon robes in wine, blue, brown or silver. Fin- ished with satin, roll collars in contrasting shades. 14 Party Dresses, Afternoon Dresses, Dresses for Street or Business. Forecasting Spring in Every Style and Shade. Of course you expect to pay more for dresses of such smart style; and you would pay more if we were not determined not to carry over any merchandise bought for Christmas trade. There are 178 of these dresses left. There are some of every style and plenty of sizes, including stouts to 52)4. This is your fast chance this year to get them. 2ND FLOOR ~ . A New Pair if They Don’t Wear Silk Hosiery Full Fashioned— ! Service Weight | A 25-inch pure thread silk | semi-chiffon boot with 4- inch extra elastic, fine gauge | mercerized top. Silk pated | slipper heel, low cut slipper sole; mercerized toe guard and reinforced mercerized toe. A beautiful full fashion- ed 42-gauge $]:3¢ silk stocking, MAIN FLOOR LAST CALL DOLL For 84c every point of wear. Only a Limited Number Left | Boxed Handkerchief Sets Big Dolls, Little Dolls. Scarfs in Gift Boxes For 94c Dolls, in attractive frocks; ready Table Covers to hang on the tree. The Most Doll For The Least Money. Glove Cases Handkerchief Cases Elaborate Silk Garter Sets ¢ 3 2ND FLOOR and Garter Combinations Handkerchief Case, Hand- kerchief and Garter Sets Garter, Compact and Perfume Sets Handkerchief and Purse Combinations . Genuine Leather Purses Walking and Talking Dolls Cowboy and Indian Suits Silkk Scarfs Men’s Shirts For 81 Incense Burners Wallet and Key Sets Shaving Stands For 34c Silk Novelty Hose Garters in Gift Boxes For 44c¢ Boxed Handkerchiefs Belts in Gift Boxes Boys’ Gloves Ties in Gift Boxes Dolls Purses Boys’ Belts Boxed Handkerchiefs Fancy Shoe Trees Garter Sets Handkerchief Sets Ornamental Flowers Perfume Sets Boudoir Caps For 74c Painted Atomizers Handkerchief Combinations Shoe Tree and Garter Sets Garter and Vanity Sets Garter nndS:lundkerchief ts Garter and Perfume Sets Towel and Wash Cloth Sets $3.00 Values In Our BASEMENT SHOE STORE CUFF ARCTICS All Sizes All New Stock NO SECONDS This is the Season’s Lowest Price for Arctics of These Two Popular Brands D 5 __CA GREAT STORE in the CAPITAL CITY A" G/ SamsecTion cUAANTEED= Y00 NONEY BACK 5 Y 820 7th Street N.W. A ¥