Evening Star Newspaper, October 31, 1930, Page 13

FINANCIAL. LOANS 0 FOREIGN - NATIONS OPPOSED Representative ~ McFadden Criticizes Bankers for Ex- | tending Credit to Germany. BY JOHN F. SINCLAIR. @pecial Dispatch to The Star. NEW YORK, October 31.—Louis T. McFadden, chairman of the Commit- tee on Banking and Currency of the United States House of Representa- tives, continues his fight against Am intervention in European financial affairs. In New York he eriticized severely the action of Amer- fcan bankers in participating in the $125,000,000 loan to the Bruening gov- ernment_despite the growing opposi- tion of Germany to the whole repara- tion settlement. “It is a_dangerous plece of med- dling_in German domestic politics, sald Mr. McFadden. “It tends to in- volve us with the Bruening govern- ment and commit us by this very act to support the revision of the Young plan Phat the present German govern- ment has already hinted is inevitable. “The drop in the price level of the world, however, is a most important factor in the whole situation,” Mr. McFadden continued. “It may make revision or repudiation of the Young plan by Germany imperative. If the ‘commodity price level should remain where it is now, it would mean a tremendous increase in the amount of reparations. If the level should settle down 30 per cent below what it was when the reparation payments were fixed, it woufd mean that Germany would have to pay 30 per cent more in goods and labor than she agreed ."dNoév, if the result should be a re- diation, Prance is authorized under g’e provisions of the plan to re- occupy evacuated Germany, and, in my opinion, such an occupation would = d The Representative summarized his tion by saying in the Magazine of # 't e "are bogged down in _the ds of the German reparation A.r'.hd ” king hold of L ur Woods is taking of a§° \lmempluy-mem problem in & vigor- ous way. Nearly a billion dollars is be- ing to start wo;:k in el :-;: United States. Every :\‘uu:mm.ry is responding. The money mobilized so far is substantially as fol- lows: Pacific Coast . . .$475,000,000 Middle Wu't. . 285,000,000 South .... 75,000,000 74,000,000 Eastern States 44,000,000 Mountain States 25,000,000 18,000,000 weeess...$996,000,000 lief programs have already begun h‘;‘wfe than 30 cities of the country to combat the growing army of unem- ployed, once to reach a_total of 5,000,000 persons by January. West- ern citles, such as Seattle, Portland, Franc! Los eles, seem to e on. the._Giners 1o the Federal 's own_pro- includes mot only & $115,000,000 program in the Capital City, not all of which will be spent this year, but an additional $50,000,000 for build- ing merchant vessels, undcr the super- vision of the Shipping Board, which expects to employ an additional 20,000 men. Ford's Plant in England. ohacnes River, Eugland, one of the largest man plants ever con- structed in the British Empire, & plant capable of producing 200,000 individual ears per annum. Great Britain? ‘What will this mean ":' mmocwf al cars ear. Will & St of 50 per cent in sutomo- in Great Britain occur when begins producing cars there? will begin in many automo- bile factories, and all will be faced with Bkt Yo would 4o no good in ‘woul because Mr. Ford has an- the cars built at this new British materials. remains not only one of interest to British manufactur- t of just as much interest to the | of British citizens, who see in Mr. a mighty force which will lead & movement toward higher wages and ‘Thigher standards of living, as so signally happened in the United States. Business Boom. ‘Here is one for the calamity howlers. They're having boom times in Chatfield, hat Of the 1,500 correspondents in all sec- tions of the county who are connected with the Lumber Market, the indus- of the National Lumber urers’ Associaiton, the reporter Chatfleld is the most enthusiastic bet- ter business man yet heard from. “All in its glory, and the glory it high,” he reports from this town of souls in Southeastern Minnesota. $5,000 hotel has just been completed 1 the officials are laying a con- crete . \way through the town, joining Duluth with Chicago. “Crop conditions are fine,” the Chat- fleld reporter says. “Corn is extra good Oats are great, barley can't be beat, | clover seed is fine, the hay crop never | ‘was better and with the good corn they fat up number 1.” , he adds, is bringing a fair price. He deplores the fact that the potato right around Chatfield was not 80 ;3. but hastens to add that the | potatoes turned out splendidly over at Austin. Wool is terribly low and cat- tle and sheep are cheap, but, he con- | lues : 1 uq‘cou«:ucm are fairly good and the | town is in the best spirits since th’} landed the ark.” He also predicts the town will sell 10 | per cent more lumber in November. i The reporter's personal politics are not by North r Allianc EARNINGS REPORTED. NEW YORK, October 31 (P —Ame- | rada Corporation today reported for the September quarter net income, includ- ing profit from the sale of one-half jven. [Copyrient, 1930, (American News- interest in the Kettleman Hills lease to | AT 880 Ofl Co. of California, totaled | Union $3,772,810, equal to $4.09 & share, com- red with $477,645, or 52 cents a share, the preceding quarter. In the third r last year the company reported received from Dixi nt for one-half interest in non- juctive leaseholds in Oklahoma and totaled $2,259,185, or $2.45 & share. Excluds the amount received from Dixie Oil Co., net income for the third quarter was equal to 39 cents a S wourn Automoblle Co. and subsid- t $1,118,713, or like quarter last Set income, including about $1,900,000 | 80d bullding materials group. e Oil Co. as part| NEW YORK STOCK EXCHANGE THE EVENING STAR, WASHINGTON, D. C., FRiDAY. OCTOBER 31, 1930. Received by Private Wire Direct to The Star Office. (Continued From Page Stock and Dividend Rate. Mtd-Cont Pet (2)... Midland Steel (3). . Minn Moline Pow. Mo Kan & Tex (3) Mo Kan & Tex pf ( uri Pacifle. Missouri Pac pf ( Mohawk Carpet ... Monsanto Ch (g1%). Montgomery Ward. . Moon Motors. ...... Mother Lode (30¢) Motor Meter G & El. Mullins Mfg.... . Munsingwear (14) Murray (B) (2% stk) 1 Myer (FE) & Br (2). Nash Motors (4).. Nash Chat & St L (5) 50, Nat Acme (1%). Nat Bella H ki [] 1 2 5 3 6 3] 8 1 8 5. 1 1 2 1 2 1 3 " 2 B! Nat Casl Nat Dairy (32)..... Nat Dept Stores (1). 1 Nat Dept St 1st (7). . 80s NatDist Products(3) 8 Nat Lead (18)....... 1 nvest (1.20).... N H & Hart (6)., N Y Steam pf(6).. N Y Steam 1st pf ( Norfolk & Southern, Norfolk& West (+12) Norf & West pf (4).. North Am Aviation. . Nor Am (b10%stk). . North Amer of (3).. North Am Ea pf (6). No Ger Llovd (3.43). Northern Pacific (5). Northwest Tel (3)... Ohio O11 Co (2) Oliver Farm Equip Oliver Farm Eq cv pt Omnibus Corp. .... Otis Elev pf (6) Otis Steel (2%4) . ... Owens 111 Glass (3).. Pacific Coast. Pacific Gas & Pacific Ml Pacific Ligh' S i Pacific Tel & Tel (7).100s Packard Motor (60c) 17 Pan-Am Petrol (B), Panhandle P& R.... Param'nt Publix (4). Park & Tilford . Park Utah... . Parmelee Tran (60c) Pathe Exchange. ..., Pathe Exchange (A) Patino Mines....... Peerless Motor Car. . Penick&Ford (11%). Penney (JC) (3) .. Penney (JC) pf A (6) Penn Dixie Cement. . Penna R R (4). Peop Drug St o g N P TP o T TP T T - 10PN ) Phillips Petrol (n2). Phoenix Hoslery. Phoenix Hos pf (7).. Pierce-Arrow A (2). % PlerceOll....... Plerce Ol pf. . Plerce Petrolm (10c). Pillsbury Flour (3).. Pittsburgh Coal. . Pittsburgh Coal pf.. " Pitts Screw (1.40)... Pittsburgh Unit Corg Poor & Co (B) (2)... PR Am Tob (B). Postal Tel & C pf Prairie Oll & G Prairfe Pipe L Pressed Steel Car. .. Proct & Gamb (2.40). Prod & Refiners pf.. PubSvNJ (3.40). . Pub Sv N Jpt (5). Pub Sv N J pf (6). Pullman Corp (4)..+ Pure Ofl... . Pure Ofl pt (8).. Purity Bakeries (4). RadioCorp .. Radio pt A (3%).... Radio Corp (B) (5).. Radio-Keith-Orph A. RR Sec IC stk C (4). Raybestos Man 2.60.. Reading Rwy (4).... Reading 2d pf (2)... Real Silk (6)........ Reis (Robt) & Co pf. Rem Rand (1.60).... Rensselaer & Sar (8) Reo Motor Car (30¢). Republic Steel Reynolds Metal Reynolds Spring Reynolds Tob A & Reynolds Tob B (3).. Richfleld Ofl (new).. Rio Grande Ofl. ..... Ritter Dent Mf (13).. Rossia Insur (2.20 Royal Dutch a3.21 Safeway Stores (5). St Joseph Lead (13). St L-San Fran (8) St L Southwn pt ( Savage Arms (2) Schulte Retall 8 Seaboard Air Line b'd Alr Line pt. .. % Sears Roebuck $2%. Sales— Add 00. High. 8 12.) Sharp & Sharp & Starrett Sterling Ste: Superh Tobacco ‘Truscon Utd Fr Utd Ga: Vadasco Shattuck(FG) (1% Shell Union Ofl. Shubert Theater: Stmmons Co.... Stmms Petrol (1. Stnclatr Con Ofl (3). i Skelly O11 (2). Snider Packing. Solvay Am pr ww 5% Sou P Ric Sug (1.40). Southern Cal Ed (2). Southern Pacifio (6).. Southern Rwy (8) Southern Rwy pf (5) Stand Brands (1%) Stand G & E (3%) Stand G & El pf (7). Stand O of Cal (2%). Stand Ofl Exp pf (5). Stand Ofl of Kan (2) Stand Ofl of N J (13). Stand OII NY (1.60). Sterl See pf (1.20)... t-Warner (3). Stone & Webster (4). Studebaker Corp (3). Superior Oil. . “Symington (A). Telautograph (11.40) Tenn Cop & Ch (1)... Thermoid Co. . Third Natl Inv (a2). Thompson Pr (2.40). ‘Thompson Starrett. , 9% Tide Water As (60c) Tide Water As pf (6) Timken Det Ax (80c) 4 Timken Roller (3) ‘Tob Prod (A) (80¢). Trico Prod (2%) Twin City R Tr (§ Und-Ell-Fischer (8). Union Bag & Paper. . Union Carbide (2.60) Unlon O1l, Calif (32). Union Pacific (10)... Union Pacific pf (4). Un Tank Car (1.60).. Utd Afreraft. . Utd Afreraft pf (3. Utd Biscuilt (1 60) d B! Utd Plece Dye W (2) Utd Stores (A)..... Utd Stores pt (2%) U S Distributing. Univ Pipe & Rad.... Util Pow & Lt A (e3) Vadasco Sales Cp pf. Vanadium Corp (3).. Vicks Sh & Pac (5). Va El & Pow bf (§ Vulean Det (4). Waldorf Systm (1%) Walworth Co (2). Ward Baking (A) Ward Baking (B) . Stock and Bales— Dividend Rate. Add 00. High. Second Natl Inv. % Servel Ine. . Dohm Do pf (3%).. o - EoanmmiBanivlarfusanan eineBaacmen S (L 8)(12%) Sec (A).... | JOTORPPA = Products. = Stl (£1.20) - = ot P O O YT T TSI Y Y SIo Oy t (4). . Im (1.20). Bales Corp. . O e S L T L T Ward Baking pf (7). Warner Bros Plet. .. Warner Quinlan.... Warren Bros (3). War Bros cv pf (3).. Webster Eisenlohr. . West Penn El pf (7). West Penn EI pt (§). West Penn P pf (7).. Western W Wrigley 10:30 AM... 1:30 P.M.. Dividend rates Pa; lus 8 per eeni er cent in oreferred stock. 4T 4T . eash Daymepts based gash Daymegts based on stock. n Plus * Bubject to apbroy Dairy A (4. E& M pt (5).. 640s 11 & Snow (2). Wextark Radio Strs.. Wh Rock M 8 (143%). Wilcox Oil & Gas. Willys-Overland. Willys-Over pf (7) Wilson & Co pf, . Woolworth (2.40) Worthington Pump. Worth Pump (A) (7 (Wm) (4). Yale & Towne (2) Yellow Truck. . Youngs Spring (3).. 8% Zenith Radlo..... Sales of Stocks on New York Exchan, 2o EL Y 337.000 1.377,000 . 915,700 12:00 Noon.... . 1,538 600 2:10 P.M. en m the sbove tal o latest GUaTterly or Balf Feariy declore less th Pavaio o sorfp. Do resular ra le in Fius o per “cens "In"Yiock, B bhn o m Mant"oc'D t in k G Fiis cent futock: m Bhes er cents in cen val of ‘stockorders "> CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, October 31.-—The fol- lowing is a summary of important cor- poration news prepared by the Standard Statistics Co., Inc., New York, for the Associated Press: News Trend. The general movement of commodity prices during October has been confined to & very narrow range. The annalist index of wholesale prices declined by 1 per cent during the month and now stands at 121.7, compared with 145.5 a In the latter half of the month changes in the index were most- ly upward, with copper the only com- modity showing a material decline. Moderate gains were recorded over the preceding month by the food products Largest losses were shown by farm products, textiles and fuels. F. W. Dodge Corporation’s latest figures of construction contracts award- ed in the States east of the Rocky Mountains turned sharply downward from the immediate preceding periods. Total for the week ended October 24 was $59,724,408. This conpares with ag- gregates $83,882,900 for preceding week and $88,127,500 for the like week of last year. For the year to date awards to- tal $3,964,738,800, against $4,956,265,500 in 1929 period, a decline of 20 per cent. The Companies. American Locomotive unfilled orders October 27 approximated $12,000,000, $17,834,363 January 1 and $15,- | 472,948 July 1, 1930. Anaconda Cop) per Mining to shut down zinc concentrator because of low- nds, against $670,632 el q'l'uwu! ll:':ny;‘h Co. the quarter ended Se) ber 30, re- :fl loss of $0,960, $589,464 In the quarter net 71 cent price zinc. Baltimore & Ohio R. R. president ex- pects earnings for 1930 will cover divi- dend uirements of $7 share m-fi-u Corporation thira' quarter earn! r ago; nine months, $2.08, Bethlel Steel third quarter opera- 59 cents common share against | tions averaged 54.6 per cent of capacity inst 69.3 per cent in previous quarter and 97.8 per cent in like 1929 guarter; orders on hand September 30 were $64,000,000, against $59,906,772 June 30 | and 361,067,997 year ago. |~ Bethlehem Steel third quarter eurn- ings 63 cents common share, against | |$4.01 year ago; nine months, $5.09, | against $12.23. | Burns Brothers—All anthracite prices to be advanced 50 cents :on, beginning | November 1, this is usual Fall increase. | Collins & Aikman Corporation had | | deficit $283,683 in quarter to August | |31, against net income $830,642 year | ago; six months net $475,398, against | $1,160,058, Butte Copper & Zinc Emma Mine resumes operations, shipping man- ganese at rate 2,000 tons monthly. Charis _Corporation third quarter | earnings $1.09 common share, against $124 year ago; nine months, $4.58 | against $4.27. | Chicago & Eastern Illinois Railroad had deficit $1939,811 in first nine | months, against profit $486,494 year | | ago. | "Columbia Gas & Electric buys con- trol of American Fuel & Power from American Utilities & General. | Gillette Safety Razor minority stock- | holders file bill in equity for a tem- | | porary injunction restraining company and directors from reclassifying stock | from issuing $20,000,000 debentures and | from settling any claims of corporation | | against individual defendants, allege | that a stock pool, in which some di- | Tectors participated, persuaded com- | pany to borrow $20,000,000 to buy own | stock, in consequence price rose 27| | p:l‘.nrmwln th;rf we‘ern, cnm;‘:mybhu:'li?x h n an o - | 000,000, DONTIe o 4 Crosley Radio had deficit $223,409 in $250,194 in third quarter against defi- cit $88,008 year ago; nine months, $562,054 vs. $61.443. International Silver had deficit $311,- g:irln.:loflrdnc‘zunmr v‘liuproflt $446,530 ; nine mon o m $297,580 vs, Lake Superior reported United States interests have offered to finance im- provement of Algoma steel plants. Mergenthaler Linotype earned $7.07 common share in year to September 30 vs. $8.71 in previous year. Middle West Utilities residentnial sales of electricity by company’s system in first eight months were 204,592,500 kilowatt-hours, increased 22.5 per cent over 1929 period; large power sales in same period were 6.2 per cent ahead Stutz Motor Car announced 1981 twentieth anniversary line. United States Freight net income first 10 months estimated at over $900,000. Wheelln, Stee] earned $1.10 on com- bined preferred in third quarter vs. :gl‘isyelr 8g0; nine months $9.64 vs. | 1929 period. NEW YORK BANK STOCKS NEW YORK, October 31 (#).—Over- | the-counter market: BANK STOCKS. America ... Bank of U8 Chase Chat Phen; oIy Fixth' Ave. First Natl. N Y. Harr) Manha Peoples Bid. Asked . T Unita: ) osv 121, tan Co... 94 National.. .. 350 TRUST COMPANIES. third quarter bringing deficit for muca 1 | months to $523,479, Delaware, Lackawanna & Western oad—IL. C. C. suspends proposed in- creases in commuters fares between gm N"'d"""f;. points and New v 3 [YBY £ & obarich co. sales subsidiary, Goodrich Silvertown, selling small radio unit through retail outlets; trade name is “Mantola,” price, $49.50 complete. Grand Union third quarter earnings 69 cents common share vs. 45 cents year :g: 9 months, §1.64 vs. §1. -Wakefield Co. deficit New York..... 4 Sinisg: Westchester Title ‘The American company which took over the n&euuan of the French cable Venezuela is now laying bmarines connecting sul between Arubs, Maracaibo, g X INEW EMPLOYMENT | IS AIDING BUSINESS Increased Activity Noted as President’s Committee Be- gins Its Program. BY J. C. ROYLE. In an effort to help others, business, in the last week, has helped itself. The moves made by the President’s Emer- gency Employment Committee, headed by Col. Woods, and the co-operation offered by the Governors and other au- thorities of the various States and by Federal departments and individual cor- porations and businesses have resuited already in an increase in business ac- tivity. It is apparent that if more men have jobs, business will increase. More jobs mean larger purchasing power, which in turn means more sales to ultimat consumers, more orders to wholesalers and manufacturers and greater con- sumption of raw materials. If this trend can be continued, it seems fairly cer- tain to mark the start of & change from the viclous cycle of depression which has obtained for the last year. Construction Work. It is natural that much of the new employment should be provided in the field of construction. This work ental larger orders to steel mills, cement plants, lumber manufacturers and other producers. The plans outlined for in- creased shipbuilding also will affect the steel industry as well as a score of other lines. According to shipbuilding officials, $50,000,000 will be spent in construction of merchant vessels during the next 12 months. The Government building pro- gram will involve eventually $520,000,- 000 and about $65,000,000 will be spent in the present fiscal year. At the moment the automobile indus- try is playing a somewhat minor part in the gcmand for raw materials and in the supplying of jobs, but only a slight impetus is needed, according to men well informed as to condition, to start the motor vehicle indus again on full- time productior. Bofh dealers and pur- chasers have been helped over some rough spots, as is shown by Government reports on automobile finance. For the first eight months of this year wholesale financing amounted to $514,603,438, as compared with $487,- 221,198 for the entire year 1929. Re- tail financing amounted to $923,969,519 for the first eight months of the year, as compared with $1,183,704,810 for the corresponding period of 1929. Dealer stocks of automobile tires and tubes have dropped and shipments have been exceeding production for the last three months. This has improved the tech- nical position of the tire trade decid- edly. Cigarette Industry. Cigarette manufacturers are sellin more of their product than ever be- fore and the industry seems to be in a fairly stable condition. The non-fer- rous metals are still depressed, th stocks well in advance of those a year ago. The seasonal demand, occasioned by shorter days, for additional electric power has not been sufficient to over- come the losses from the drop in in- dustrial activity as compared with this time last year. ¥ Crude oil production is dropping slowly_and line stocks are declin- ing. There has also been a decline in consumption, but of only a slight de- gree. Drops in oil prices, it is felt, may aid still further in stabilizing produc- tion and consumption, although the potential output of the wells in this country is at present far above world requirements. (Copyright. 193 Washington Stock Exchange SALES. Capital Traction Co.—10 at 50, 16 at 50. Potomac _ Electric 5% % pfd—5 st Y. Washington Rwy. & Elec. pfd—10 at mgufc'm Security & Trust Co—3 at 55. Union Trust Co.—2 at 235. Lanston Monotype—10 at 109, 10 at 108, 10 at 107, 10 at 106, 10 at 106, 25 at 106, 10 at 1051>, 5 at 106, 6 at 107, 4 at 108, 1 at 108. AFTER CALL. Potomac Electric Cons. 55—$3,000 at 103, $2,000 at 103. Capital Traction 5s—$1,000 at 88, $1,000 at 88. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 445 "33 Amer, Tel. - 4 “Tel. 1 tr. § R. R. & Bid. Asked. 101 5 as) ex. & Mt. Ve o Wash . Balto_ & Annap. 8s. Washington Gas 880 Barber & Ross. Inc. Chevy Chase Ciub ! D. C Paper Mfs. 65 W. M. Cold Storage 5s. Wash. Cons. Title 6s STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Capital Traction Co. { Wash. Gas_Lt. NATIONAL BANK. Capital (14) Columbia (12) S Commerclal (stamped) (1) Hi exs Becond (9e). Washington (i3) 5 TRUST COMPANY. SRS 58583 Union Trust (85).. Wash. Loan & Tristi’ (14 SAVINGS BANK. Bank of Bethesda (8§) Commerce & Savings ( East Washington (12). Potomac _(10).. ... Security Savings & Col Seventh Btreet (13) United States (30) Wash. Mechanics’ (20). FIRE INSURANCE. American (12)... orcoran (10). e 32 Firemen's (8). = National Unlon (15) ... TITLE INSURANCE. Columbia _(6h). Re: Thi y Cl Col. orp. ... | Gol. Sand & gravel pra. {3} C. Pi fs., pld . Paper M Dist, Nath. Sec N Emer. ) Co. pfd. anston Morotype Mer. Tr. & Stee. com T & Sige. prd. (D, thaler Linotype & Inv. 52% ext: ¥2%% extra. g% extra. 4% extra. 8% extra. LOWER PRICES INCREASE : SALES OF U. S. COPPER Special Dispatch to The Sta: NEW YORK, October 31.—The recent decline in copper prices brought out a good volume of business for domestic and foreign account during the past week. Domestic consumers bought about 30,000 tons of the metal, with virtually all business goi throi on the basis of 915 cents, delivered Connecticut, re- ports Metal and Mineral Markets. Foreign sales for the week totaled ap- proximately 25000 long tons, swelling the total for the month to more than 53,000 long tons, the largest in many months. Foreign demand for copper was more FINANCIAL. insistent than domestic owing to the fact that European consumers held off tmfl;fhctn‘ business for a much longer period than American consumers. Eu- ropean buyers took all the copper they could get at the revised price. ‘The lead markets exhibited one of the dullest weeks of the year, with less than 2,000 tons reported sold for the period in the open market. Prices held steady in all directions, however, and the Lon- don market showed insignificant vari tlons from day to day. It appears evi- dent that consumers are buying lead only as they need it, and it is probable that any indications of an increase in prices would result in a considerable spurt in business. ‘The week saw practically no change in the position of zinc In some qt xEr A13 ters there was a pfonounced reluctance .. to sell at cwrrent levels, and this had'¥ the effect of steadying the market ’ slightly. Total tonnage sold was mod- erate. Tin prices remain unchanged, with quieter buying here, but an im- } proved demand on the Continent. HEAVY CONSTRUCTION. NEW YORK, October 31 (#).—Activity slackened in the nation's heavy con- struction and engineering fleld during the past week, Engineering News-Record reports. Awards announced in the period were valued at $46,121,000, com- pared with $58.926,000 in the preceding week, and $96,918,000 in the correspond- ing period last yeas ANOTHER SERVICE STATION FOR WASHINGTON National Shirt Shops OPENS 3rd LOCAL SHOP IN AMBASSADOR HOTEL TOMORROW Our 75th Shop! A tribute to the flourishing prosperity of this great City! We, the largest and original men’s furnishing Chain, with shops dotting the map “FROM COAST TO COAST,” actually started our Eastern history right here in Washington. We have always been partial to Washington for this reason . . . and Washingtonians favor us because of the remarkably low prices we have always charged for the highest type, style-merchandise. Two shops are no longer enough to take care of our local patronage . .. therefore, we are pleased to announce a third. You will be delighted with what we are offering, to celebrate the coming of our third “service station.” Sensational Opening Special On sale in our 3 Washington Shops Shirt and Necktie *1 95 An almost unbelievable bargain for you! Fine stipple cloth shirts, generously laid out and finished to perfection, easily worth $1.95 by themselves . . . even here, where the tremendous buying power of 75 shops means nationally noteworthy val- ues every day in the year! These shirts are in solid blue, tan and green, with a refined monotone effect that is the height of the mode. Available with two starched collars . . . or collar at- tached, which has the practical celluloid stay to help it keep its shape. solidly to match the shirts. The neckties are beautiful satin pin-dots, shaded This ensemble presents a real op- portunity to SAVE on distinguished furnishings! ADDED SPECIAL Men’s Fancy Hose One of those honest 50c values you'd never find at this price except as a gesture of welcome riends . . . and to new ones. tinctive new patterns. Order in advance for the 3 pairs for $1.00 to our old Dis- 35¢ gift season! The opportunity is very unusual. Every Article Bought in Our Shops is Sure to Be NEW and We Cordially Invite the Ladies to Shop in Our New Store Tomorrow NATIONAL SHIRT SHOPS, me 617 14th Street N.W. “From Coast to Coast” (NEW SHOP) Ambassador Hotel, 1414 K St. at 14th N.W. . 942 F Street N.W.