Evening Star Newspaper, February 12, 1929, Page 10

10° [OAS ~ 1HE EV] NG~ STAR: WASHINGTON, D: C; TUESDAY; FEBRUARY:r 12~ 1929 " THE IDEAL INVESTMENT | Standard Coliateral Trusteed Common Stock Shares —represent & TRUSTEED INTEREST in 100 leading American Corpora- certain of KETAB] an . Both DIVIDENDS L have an assurance of_erowth over a period of years. dends for 1928 of these 100 exceeded TWO BILLION ey For Particulars and Price Call Standard Collateral Shares Corporation Franklin 5783, Woodward Blds. SHOWN BY SURVEY Federal Reserve Report In- dicates Advances in Many Lines. BY EDWARD C. STONE. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Commercial Naticnal Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interest starts from DAY of deposit and is earned to DAY OF withdrawal. Come in and let us explain. Resources Over $18,000,000 14th & G Streets R. GOLDEN DONALDSON, President Consult Us First If you need money for your Real Estate financing let us have vour application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Paid up Cash Cavital, $900,000 Commercial National Bank Bldg. 1ith and G This week’s reports from the 12 Fed- erad Reserve centers indicate that bus- iness is in a favorable condition in most parts of the country, that basic in- dustries are being speeded up, and more bullding is noted in various localities. The oil industry is seri- ously threatened with overproduc- | tion, which re- mains on the in- | crease. Style shows, sales {and milder weath- | er are helping bus- iness in the New York area, which is maintaining the average of late January. Retail trade has been re- tarded in New | England by bad weather and influenza, | but business is called generalyy satis- factory. Philadelphia reports a marked increase in new building contracts, but considerable unemployment. The Richmond report * stresses the | awarding of the $5,799,900 contract for the Internal Revenue Bureau's new building in this city and the calling for bids on the $17,000,000 Department of Commerce building. Leasing of the $5,- 000,000 municipally owned grain ele- vator at Norfolk by the Norfolk & Western is the recent oustanding in- dustrial development in this section. The Chicago Reserve Board report features wholesale trade activity. Buy=- ers are visiting the city in great num- bers. Department store sales are re- ported as favorable in St. Louis. Re- tail trade in Kansas City, Minneapolis and San Francisco is also reported as | more active. Noted Inventor Joins Bank Board. Recent election of C. Francis Jenkins of this city to the board of directors I[]of the Merchants’ Bank & Trust Co. {|{ brings into banking circles an inventor I | of international reputation. It is rather rare that science and finance are thus linked together, Mr. Jenkins is best C. Francis Jenkins. known because of his invention of the WANTED Resident Physician and Dentist at the Maycroft Apartment 1474 Columbia Road Near 16th Street Apply to Resident Manager or T. B. LAWLER 16 Jackson Place Main 864-865 motion picture projector which is now in use in all the theaters in the coun- try and of his similar relation to tele- vision. He has made & host of other scientific discoveries of hardly less im- portance than these two. Member Loans Gain $133,000,000. The Federal Reserve Board's weekly condition statement of reporting mem- Dber banks in leading cities on February | 6 shows an increase for the week of $133,000,000 in loans and & decline of $12,000,000 in investments. Borrowings from Federal Reserve banks increased $39,000,000 and net de- ernment deposits declined $34,000,000. Loans onp::curlt.les were $112,000,000 above the January 30 total of all report- i the principal changes in CompLETE FINANCING Ist & 2nd TRUST MONEY On homes, apartment buildings and business properties. No appraisal fee. Prompt service. Real Estate Mortgag & Guaranty Corp. 24 Jackson Place Main 1403 Continental Trust Co. ! On improved Progerty in Maryland and District of Columbic 6% Interest No Commission Charges EAVER BRO REALTORS 809 15th Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company districts being increases of % district, district, trict and ing banks, this item by $63,000,000 in the New York $18,000,000 in the Chicago $15,000,000 in the Cleveland disf $13,000,000 in the Philadelphia district, and a decline of $12,000,000 in the Bos- ton district. “All other” loans increased $22,000,- 000 at reporting banks in the New ‘York district and $21,000,000 at all reporting banks. Commodity Prices Advance. Prices of _commodities durin; week ended February 9 adv: th of 1 per cent, according to the ‘:‘fiol‘;sale m?l:e index of the National Fertilizer Association. The chief items in this slight advance were butter and copper, with slight ad- Sria1 Gechine oscurr rials. A matel lec! E‘t)e:ma, which is a very indicative m’l“t:t'rewvery of one-tenth of 1 per cent did not offset the decline of three- tenth, of 1 per cent for the previous week. Washington Gas Officers Re-elected. The board of directors of the Wash- ington Gas Light Co. elected at the annual meeting of shareholders Febru- ary 4 met today and re-elected officers as follows: Ord Preston, president; Robert D. Weaver, vice president; George M. | Whitwell, secretary; Edward T. Staf- ford, assistant secretary; Thomas B. Gardner, second assistant secretary; Lawrence Townsend, treasurer; A. Gray Dawson, assistant treasurer; Frank R. Holt, second assistant treasurer; Rich- ard A. Ennis, controller; C. C. Basly, assistant controller; John L. Schick, assistant controller, and Minor, Gatley & Drury, general counsel. Gleaned in Financial District. R. Golden Donaldson, president of the Commercial National Bank, is now in Cuba, after spending part of his ‘Winter outing in Florida. W. J. Waller, vice president of the Federal-American National Bank, will attend the annual banquet of New York Chapter, American Institute of Banking, Saturday night. Last year 2,000 member-guests attended this din- ner. {|| ‘The trust section conference of the American Bankers’ Association will open tomorrow in New York. A particularly fine program has been arranged, one of the speakers being Joseph 8. McCoy of the Treasury Department. In their recently enlarged boardroom the one- 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER. President Capital, $1,000,000.00 W. B. Hibbs & Co. have adopted the plan of placing the names of all cor- porations on the board. This is in ad- dition to the trading symbols and is of particular value to those not accustomed to these symbols. Railroad Earnings Reported. The Chesapeake & Ohio Railway earned $24.29 a share on 1,181,130 com- mon shares in 1928, against $24.08 a share on 1,178,105 shares in 1927. ‘The Atlantic Coast Line earned $10.24 per share on the common stock in 1928, compared with $11.95 a share on the same stock in 1927. ‘The Commercial Credit Corporation earned $4.01 a share on the 691,407 average number of common shares out- standing in 1928, against $1.05 a share on 680,000 shares in 1927. The Virginia Electric & Power Co. has declared regular quarterly dividends of $1.50 on the 6 per cent preferred and $1.75 on the 7 per cent preferred, both payable March 20 to stock of record February 28. The local broker houses were silent today because of Lincoln’s birthday, but the offices were kept open with skele~ ton forces. All local banks were open as usual. Maryland bankers, however, were resting from their labors, either following or setting the example for the New York banks, which were also closed. ‘The feeling is almost universal among ‘Washington financiers that the day should be a bank holiday in the Capital. HEADS U. §. LAND BANK. RICHMOND, February 12 (Special). —Frank H. Daniel of Warrenton, N.C., has been elected it of the Fed- eral Land Bank of Columbia, 8. C., succeeding H. C. Arnold. Additional credit of approximately $10,000,000 will be furnished farmers in the land bank area within the next two months, Mr. Daniel sald. The bank, which serves the area of North and South Carolina, Georgia and Flor- ida, has total assets of $90,000,000, and to this time has aided some 40,000 borrowers. et il mand deposits $20,000,000, while Gov-; FORT WORTH, February 12.—Sur- veyors are locating & new pipe line for the Gulf Co. from the Winkler County oil fields to Midland, Tex. At the latter point a junction will be formed with the Gulf’s trunk line, lead- ing to the Gulf of Mexico, and with a tank form. The new line will give an outlet for ail heretofore stored in Winkler earthen tanks. Rubber. AKRON.—Tire demands for 1929 will run around 72,000,000 tires, Prest- dent Harvey S. Firestone of the Fire- stone Tire & Rubber Co. estimates, Akron produces 60 per cent of the country’s tire output. Dairy Products. CHICAGO.—Severe weather has cut sharply into production of American cheese. Receipts of warehouses in Wisconsin during the last month indi- cate a reduction of 2,697,000 pounds and total receipts amounted to only 11,447,000 pounds, the smallest in sev- eral years for that period. Office Equipment. CLEVELAND.—The last year was the best the American Muitigraph Co. ever had, and President H. C. Osborn said today the outlook is exceedingly bright at the present time. Potatoes. 1 KANSAS CITY.—The Kaw Valley and Missouri Valley potato growers are trying to prevent & recurrence of con- ditions of last year, when the supply was so heavy prices dropped and tubers did not bring cost of digging in some cases, They are attempting to restrict plants according to amount of old stocks on hand. ‘Wool. BOSTON.—The quply of Ohio de- laine is heavy in the local wool market. Sales are being made at around 45 cents a pound. Half blood clothing 1 s bringing around 46 and three-eighths around 52. % \FIGHT OF POWER FIRMS IN MARYLAND CONTINUES | Special Dispatch to The Star. BALTIMORE, February 12.—The fight between power companies for the right to extend lines in the State has | now been extended to Carroll County. | Claiming that the Consolidated Gas, Electric Light & Power Co. is invading its territory, the Consolidated Public Utilities Co. of Westminster has filed with the Public Service Commission a petition asking the Baltimore concern be restrained from erecting an electric line from Hampstead to Snydersburg in Carroll County. The complaining company alleges the Baltimore utility has surveyed along a competing route parallel to the line for which permission has been exiended 0 the petitioner. AMERICAN TOURISTS IN NEW YORK MARKET PARIS, February 12 (#).—Wealthy Americans in France prefer to operate on their own home stock markets and a growing cabled business in buying and selling has resulted. At least five American houses established in Paris offer the usual comforts of a Lroker's offices, with New York Stock Exchange and Curb Market prices posted mo- mentarily, and a full complement of Ame cial journals. Transatlantic operations are not con- fined to Americans, however. One house reports that many of its steady cus- tomers are Frenchmen, who, until a year or two ago cofined their trading in securities to the Paris Bourse. Even odd-lot buyers are regular patrons. ‘Until last year, when the French gov- ernment removed its ban on the ex- port of currency, only those who kept large accounts in the United States patronized the cable companies in New York trading. That ban removed, Americans and others whose ' entire funds are deposited on this side of the water have taken advantage of the bull market. All France has recently been inter- ested in New York operations and ex- GAINS IN BUSINESS LABELLE SCORNED AS “FAT PEASANT" Duveen Says Mouth Flat as Pancake, Hair Like Mud, in Suit Over Painting. By the Associated Press. NEW YORK, February 12—In the opinion of Sir Joseph Duveen Mrs. Andrea Hahn's painting, “La Belle Fer- ronniere,” is a fat peasant with hair of mud and a mouth flat as a pancake. Because of these and other shortcom- ings, Sir Joseph holds that Mrs. Hahn's picture is not the work of Leonardo Da Vinel, but was copied from the master’s painting of the same name, perhaps 300 years later. ‘When the trial of Mrs. Hahn’s $500,- 000 libel suit against Duveen was ad- journed yesterday to tomogrow, the famous art dealer ended his fifth day on the witness stand, and had explained why, without seeing the Hahn picture, he had declared it to be a copy, thereby spoiling a sale to the Kansas City Art Institute. Mrs. Hahn will be the first witness called tomorrow. Criticism Blocked Sale. Sir John, who, in addition to being defendant to the action, was called as an expert witness by the plaintiff, left the stand yesterday long enough to per- mit Conrad Hug, Kansas City art deal- er, to testify. Hug, who was ill, told how Duveen's statement, in 1920, that the Hahn pic- ture was & copy had frustrated the sale he was negotiating wih the Kansas City Institute of Art, which was willing {o pay $250,000 for the painting until Sir Joseph denounced it. ‘There was little left of “La Belle Fer- Duveen finished with her. Her hair, mouth, figure, costume and ornaments were pointed out scornfully by the ex- pert as things Da Vinci never would have done. Not even the balustrade behind which she stands was of the DIRECT ROUTE gj via 0 PITTSBURGH ... $ 7.00 CLEVELAND .... 10.25 DETROIT. .. 13.00 CHICAGO . . . 18.00 CANTON .... 9.35 COLUMBUS .... 11.50 INDIANAPOLIS 15.00 ST.LOUIS ..... 20. KANSAS CITY . 25.00 LOS ANGELES . . . 67.00 Tickets and Information at INTERNATIONAL TOURS TERMINAL 1421 Pennsylvania Ave. N. W. Phone Metropolitan 5314-5315 DIABETES? ‘The endless misery—“the utter ex- ha n” of Diabetes means that there is unoxidized sugar in your system. Your blood may be loaded —your kidneys, staggering under the burden. Your condition may get worse if the sugar accumula- tion continues unchecked. Moun- tain Valley Mineral Water from Hot Springs, Arkansas, helps the body cells use up the sugar more also allays the and combats the dangerous acid conditions in the tensive reports are carried daily by the principal newspapers. NORFOLK & WESTERN. 'RICHMOND, February 12 (Special) — Capital expenditure for the Norfolk & Western Railway for 1929 will be slightly larger than like annual expenditures for the last three years and slightly less than for the year 1924-1925, according to company officials. The expenditure this year will be approximately. $23,000,- 000, on which $16,000,000 will be spent for roadways and structures, and $7,000,000 of which will be spent for equipment. ‘The larger amount proposed for 1929 is due primarily to three projects: The construction of a 39-mile branch line into Buchanan County, Va., and a con- necting line about 11 miles in length into the Guyandotte Valley in West Virginia, and grade-crossing elimination work at Columbus, Ohio. In the period 1923-1928, inclusive, the average yearly capital expenditures of the Norfolk & Western for roadway and structures was approximately $10,900,000 and for equipment approximately $6,500,000. Sl s Chesapeake & Ohio. RICHMOND, Va., February 12.—The annual report of the Chesapeake & Ohio Railway for 1928 shows that the earnings of the road for the year ended December 31 were $318,861 greater than the year before in spite of a decrease in §TOsS Tevenues. Net income after all charges was $28,798,103, compared with $28,479,242 in 1927. The operating ratio was 66.1 per _cent, a decrease of 1.3 per cent. Gross revenues for the year were $124,825,172, a decrease of $8,848,334. Operating expenses were $82,543,249, a decrease of $7,577,640. Net railway operating income was $88,390 less than in 1927, amounting to $36,323,594. Commercial Credit Co. BALTIMORE, February 12 (Spe- cial) —Net earnings of $4,132,391 l;gr 1928 were r:;orted today by the Com- mercial Credit Co. and its affillatea companies, including the Kemsley, Millbourn & Co., Ltd., acquired Novem- ber 17, last. After payment of dividends on pre- ferred stocks of affiliated companies and on the 6% and 7 per cent first preferred and 8 per cent class B pre- ferred sf of Commercial Credit Co., net income was $4.01 a share on 691,407 average number of no par com- mon shares outstanding during the ! year, which compares with $2,067,-! 888.08, ar $1.05 a share on the com- mon shares in 1927, ‘The net does not include $275,000 recovered by the company on one ac- count, which was credited y to surplus. The company closed the year with $129,810,516 in assets, compared with $88,296,033 in 1927. DIVIDENDS. L, e Mar, lg Pel 3 : 24 = D; > iy SoE S33e Y 43 e 258 T o DODEOOOD; 3 & 235508 RRE] B8, BEESE, 00020 3 1o rom Hereatier atvi 2 3 8 Dividend co of 85 cents for r. 1, 1929. peid quarterly. B v system. Call our office and learn more about this famous natural alkaline water, used by hundreds of local people successfully fight- ing Diabetes. Order today, or ask for literature. Mountain Valley Water Co. 212 Colorado Bldg. Phone Metro; We_Del - N St. Mother Knew the Way Every mother knows what it means when her child begins to Fet underweight, pale, listless, bil- lous, feverish and fretful, with bad breath, coated tongue and no ap- petite. What every one of them doesn’t know is that it’s dangerous to use harsh methods to start the little stomach and bowels. There’s no use experimenting in such cases. Millions of mothers have proved the merit and relia- bility of pleasant-tasting, purely vegetable California Fig Syrup. It gently clears up the moststubborn cases of constipation; stimulates the appetite; gives tone and strength to weak stomach and bowels so they continue to act normally, of their own accord; and makes pale, lifeless children, bright, rosy-cheeked and full of energy. . A Washington mother, Mrs. Samuel E. Elliott,1227 N 8t. NW., says: “My little boy, James, de- veloped constipation. He became bilious, pale and fretful; had no appetite and couldn’t digest right. He was losing weight. I had heard of California Fig Syrup ever since I was a child, so I gave it to him. It regulated him quick. He be&nn eating heartily and digesting 35 | everything. Soon he was his ro- bust, happy self again.” Ask for California Fig Syrup by the full name so you'll get the 3 | genuine, endorsed by physicians for over 50 years. CALIFORNIA ronniere” in the Hahn painting when | period or the craftsmanship of the Renaissance master, he said. Asked the probable age of the Hahn painting, Duveen replied: “I should say the painting never was painted before~1680. Probably between the years of 1680 to 1750 or 1760.” Says Painted in France. He declared without hesitation that the picture was painted in France. He placed the time and locale of the paint- ing by the style of the trimming on the drapery, saying that while that on the figure of “La Belle Ferronniere” in the Louvre, which he maintains is a gen- uine Da Vinci, is of the Renaissance, the Hahn picture shows embroidery of a much later period. Duveen said that where the Louvre Da Vinci showed purity of line in the drawing of the mouth, this quality was utterly lacking in the Hahn picture. “T see only blotches of black. I see only a piece of red and a block of black paint. It's as flat as a pancake.” “The hair—that’s not hair. That is mud,” was another of his comments. The cord binding a jewel to the fore- head didn’t bind, but left the jewel “up in the air,” he said. The shoulders were fat and flabby and the arms only puffs. He summed the picture up by declaring the face was a mask and the figure a balloon. Would Limit 0il Output. CHICAGO, February 12 (#)—Elec- !llon of E. E. Reesert of Tulsa, Okla., as president of the American Petroleum Institute at the annual convention here, places at the head of the in- dustry’s trade association a man who last Summer instituted plans for co- operation of petroleum producers in a campaign to limit or control production. Control of petroleum output has been sought by the industry for some years, even to the extent of an in- ternational agreement. At one time efforts were made to experlment with the idea in Venezuela, but business changes disrupted the attempt. means profi a stop-loss. in modern trucks. Now in the range UTTING time and distance VACANCIES TO BE FILLED. Examinations for Federal Jobs Are Announced. ‘The United States Civil Service Com- mission has announced the following open competitive examinations: Senior mechanical engineer, Chemical Warfare Service, Edgewood Arsenal, Md., and elsewhere, at $4,600 to $5,200 a year, Senlor toxicologist, Bureau of Chera- istry and Soils, Department of Agricul- ture, for duty in Washington or in the field, at $4,600 to $5,200 a year. Junfor forester, Forest and Indian Services, at $2,000 to $2,500 a year. Junior range examiner, Forest Serv- ice, at $2,000, to $2,500 a year. Junior surveillance inspector, Ord- e v a n & year. partmen 8 ntal E Departme ice, Washington and in the fleld, at $2,600 & year. Associate medical officer, assistant ‘medical officer, Departmental and Fleld Physiclan at $3,800 a year, associate physiclan at $3,200 a year, Veterans’ Bureau hospitals throughout the United States. Information and application blanks may be obtained from the commission, 1724 F street. 0il Production Report. ‘TULSA, Okla., February 12 (#).—Oil | production in this country reached an estimated daily average of 2,690,350 bar- rels during the week ended February 9, sald the Oll and Gas Journal today. WHAT CAN | DO TO STOP PAIN FROM LUMBAGO ? OLD CAPTAIN GREELY CAME IN HERE TUESDAY AND SAID, “MR DRUGGIST THERE'S NOTHING LIKE SLOANS LINIMENT FOR STOPPING PAIN FROM LUMBAGO SLOANS LINIMENT IS ONLY 35¢ A BOTTLE. LUMBAGO ? FOGED Sloan’s Liniment KILLS PAIN R e R DELIVERY for t to any truck user. Cutting costs of operation, maintenance, and depreciation is These are specific results of BUICK engines First in medium-duty. of heavier duty. General Motors Trucks, new BUICK- powered, now cover every requirement in medium and heavier duty - - - more power and speed than any job will ever need - - - vibrationless smoothness and flexibility + s+ 4 wheel brakes - » Adequate cooling; thermostatic temperature control s - + Real advances in frame strength and rigidity. There are 33 types, of different basic STRAIGHT RATING capacities — of which the following 6 are examples: Type 5002, 18,000 Ibs. Type 5001, 16,0001 Type 5003, 14,500 1bs. . oo snsasi-$3100 ceeess 3215 bs. Type 4002,12,0001bs................ 1790 Type 3002,10,0001bs................ 1505 Type 3003, 8,0001bs................ 1395 Straight Rating capacities, based on maximum allowable total gross weight; prices Y chassisonly, f.0.b. Pontiac, Mich. < b . LIGHT DUTY—1929 PONTIAC-powered; 7 types of different basic STRAIGHT RATING capacities; chassis only: $625 to $1085, F. O. B. Pontiac, Mich. (Time payments financed through Y. M. A. C. plan, at lowest availal TRANSPORTATION ENGINEE! - 1E T SALES ble rates.) TRAFT. ‘The than that of the , the total again setting a new high record for the fitth consecutive week. ‘The Santa 'Fe Springs area continued to show increased output, adding 12,000 barrels last week to its estimated daily " Oklatioma, faced by & possible s pro- ration program, showed a nominal de- crease of approximately 500 barrels, ‘Yokbhama, Japan, is bullding three th_the 1 aves was 12,115 barrels ¥ rage higher new_canals th Wind-burned Skins - need — Cuticura Soap and Ointment. They do so much to allay irritacion, redness and roughness of the face and hands, remove dust and grime and keep the skin soft and clear under all conditions of exposure. . Soap 25¢c. Ointment 25c. and 30¢. Talcum 23c. Sample each free. Addras: *"Cuticurs,” Dept. 36G, Malden, Mass. PUT THEM to this real WORK TEST We provide any available General Motors Truck, model, chassis, or body that most closely meets your exact needs. 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CHARLOTTESVILLE, Va.—Carpenter Motor Co. ‘WINCHESTER, Va.—Eugene M. Garrett, Inc. NEWPORT NEWS, Va.—Sheffield Motor Truck Co, LYNCHBURG, Va.—J. W. Fretwell. ORANGE, Va.—Smith-Hood Elcar Co. Norfolk Branch 1611-13 Granby St. SPECIALIZING IN COMMERCIAL TRANSPORTATION TRUCK FOR EVERY PURSE AND/P et ROANOKE, Va.—Martin. Bros. gwugfxs"l%l. ‘;;;T W. Turner. UFF f Motors, Inc. FREDERICKSBURG, " yne Service. ASHLAND, Va.—Ashland Hudson-Essex Co. Va—~GMC Sales URPOS