Evening Star Newspaper, March 9, 1933, Page 21

SCIPISSUES USED | BEIORE N AMERICA Cleamg House Certificates Prited in 1873, 1884, 1893 and 1907. By the Aociated Press. NEW "ORK, March 9.—For the sec- ond tim during the span of a lifetime, a Rooseelt is forced to grapple with the intracies of an emergency . cur- rency. ' Durin; the panic of 1907, while near- | ing the nd of his term of office, Presi- dent Teodore Roosevelt, Republican, saw the ountry forced to adopt the use of serip. And nw, some 25 years later, at the very benning of his administration, Presiden Franklin D. Roosevelt, Dem- at, is.aking a similar drastic action E a neessary step toward breaking e tanged credit situation in which the courry finds itself. Fifth Script Lssue. Five dferent times in its history has he Amecan Republic resorted to the »xpedient of issuing clearing-house certificats, or scrip. Previous to 1907. they wer put out in 1893, 1884 and 1873 i i i Curren conditions have been cause for WallStreet veterans to recall the developmnts, similar in character, that caused baks in 1907 to supplement cur- rency in :irculation by the issuance of clearing-buse certificates. Then, s now, the country was faced by the hrrowing spectacle of the clos- ing of on bank after another. But the situation n 1907 became acute largely as the reult of a practice followed at that timeby trust companies in New York, of accepting demand deposits without te provision of regular bank- ing safegards as to reserves. The climax cane when the Knickerbocker Trust Co.closed its doors, along with three otbr trust companies and six banks. But unke the present situation, 1907 saw a stck market panic marked by several sectacular phenomena, chief of which#as a demand rate for loans running v to 125 per cent. The release of $25,00000 through the intervention of J. P.Morgan and the Exchange authorites relieved this situation, but the New York Clearing House was forced to ake additional action shortly thereafter. Suspnded Cash Payments. The edior of the Commercial and Pinancial Chronicle. writing in_ 1907 about theplan of the clearing house, described : as follows: “Any bak which has a debit balance against it instead of being obliged to settle thedalance in cash, may deposit with the Qearing House Committee any securities t has in its vaults, and ob- tain certficates representing 75 per cent of tleir value. With these certi- ficates itsdebit balance at the clearing house can be settled. The certificates bear interst at 6 per cent.” Thus, tie general intent in 1907, as now, wasto bring about general sus- nsion o cash payments in the clear- house The loan certificates issued in 1907 renained in use for 22 weeks. New Yck’s lead on October 26, 1907, in the isuance of scrip was rapidly followed vith similar action by prac- tically cery clearing house in the country. The result was the issuance throughou the entire United States of $238,000,00 of scrip, as against $69,- 000,000 in1893. ‘While 10 uniform rule was followed, the certiicates were widely issued in denominaions of from $1 up, so as to facilitate usage. OF INSURANGE VOTED Jowa Ceneral Assembly Grants Stat Commissioner Broad Regulatory Powers. By the Aswociated Press. DES MOINES, Jowa. March 9.— Broad regulatory powers over insurance companies were held by the State in- gurance commissioner today under the visions of a new emergency State w. Rushed through the Iowa General Assembly in rapid-fire order late yes- terday and signed by Lieut. Gov. Nelson G Kraschel as Acting Governor, the new law went into effect today by publication. Under its provisions State Insurance Commissioner E. W. Clork is em- powered to fix regulations effecting a moratorium on insurance policy loans or cash surrender of policles, regulate the payment of premiums and assume control of the assets of all insurance companies doing business in Iowa. Told that insurance companies operating in Iowa were confronted with an emergency in that cash was nct available to meet a rush for loans or cash on surrender of policies, the Assembly passed the bill exactly four and a half hours after it had been taken up by committees. Aviation made greater strides in China last year than in any other 12 months. raape was [MPORTERS SALE OF A Magnikicent Collection of High-Grade ° Oriental Rugs In All Sizes At Public Auction Within Our Galleries, 715 13th Street Today and Friday, March 9th and 10th, 1933 AT 2 P. M. EACH DAY WITH WVENING _SESSION—THURSDAY, MARCH 9th. AT 8 P. M. On Exhibition Up to Hour of Sale Each Day & Co., Inc., Aucls. “Frightful” Cough (Cleared Overnight “When my Joel gets a cough he GETS A it. It always is a J §¥ long siege. But this winter when he de- weloped a frightful cough I gave him Smith Brothers’ Cough Syrup. Im- mediately he felt better. His head cleared. He slept peacefully. In the morning he woke up—NO cough!” Mrs. I. Schneider, Brooklyn, N. Y. \ THE EVENING - STAR. WASHINGTON, D. C., THURSDAY, MARCH 9, 1933. at All the Matter With Washington There Seems to Be Nothing —The crocuses are coming up, the cherty blossoms are promised for Easter, Spring clothes are the order of the day. At Jelleff’s things are going along as usual . . . only people are charging a lot more! We welcome this! Shop as usual! - THE NEW C1ECIES 1216-1220 F STREET " Listen in—WRC 9:30 A.M. daily —Correct time and Jelleff News! Winter Coats —Women’s—Misses’ and Juniors’ We've been saying—"Final Sale,” “Last Day,” etc., for several weeks, but no price has cleared them out as we had expected. Now we are through with waiting—out they go! —At tomorrow’s prices they will be a sound investment—and buyers should come like they went to the California Gold Rush! s 5 for $19.50-$25 and $29.50 Winter Coats It doesn’t seem possibl;z—but we still have on hand 48 Coats in all—13 for women, in black wool crepes with wolf and lapin collars—black and white tweeds with black caracul collars; sizes 36 and 38. 35 Coats for Misses—black dress coats with wolf, lapin and marmink collars, some also with cuffs_sports coats with caracul, ;omlf n;'l‘d n;cooon collars also Misses' furless sports coats—tweeds and polos—tans, browns, green and wine. s 14 to 20. $ for $29.50 and $39.50 Winter Coats 24 Coats in all—14 for Misses—including black dress coats with horseshoe collars of skunk and kit fox—black and brown dress coats with scarf and shawl collars of wolf or dyed squirrel, and furless sports coats in blue and red—sizes 14 to 20—10 Coats for Women— in black and brown with black fox, kit fox, pointed fox and Jap mink, sizes 39); to 431, red with black fox (size 37%2)—black with skunk and Persian lamb; sizes 38 to 44, and red with black lynx (size 41%2). $ 50 for $39.50 to $59.50 Winter Coats ‘ 26 Coats in all—11 for Women—black wool crepe with black fox, lynx, and pieced Persian lamb collars and cuffs, sizes 38 to 44, 391 and 413, oxford crepe with large raccoon collars (size 40)—green suede cloth with kolinsky (size 38)—grey mixture sports with kolinsky shawl collar (size 38). 15 for Misses—black or brown dress coats with collars of pointed fox, kolinsky, Persian lamb, badger, skunk, blue fox (dyed), sizes 14 and 16. s 50 for $59.50 and $69.50 Winter Coats i 22 Coals in all 13 for Women—including black, green, and wine wools with skunk, kit fox, fitch, Persian lamb, Fischer fitch, and blue fox collars, also some with cuffs —sizes 36 to 46, 43},—larger women’s coats in black wool with Persian lamb and skunk (sizes 4412 and 50%z). 9 for Misses—black and brown crepe dress coats with beaver cape, shawls cf Bergundy fox, shawls and cuffs of kolinsky—sizes 14 to 18—imported brown, wine and green tweed sports coats with collars of squirrel and beaver—sizes 16 to 20. $ 50 for $59.50 to $89.50 Winter Coats = 23 Coats in all—16 for Women—black and brown wool dress coats with mink and kolinsky collars and cuffs—sizes 36 to 40 and 35),—sports coats in brown tweed with raccoon, green diagonal with beaver, oxford mixtures with ringtail collars— sizes 36, 40 and 44. 7 for Misses—black, brown andwine wool dress coats with collars and cuffs of mink, silver Bergundy fox, shawl collar of silver fcx, capeshawl of Pischer fitch, sizes 14 to 18. $ 50 for $89.50 and $98.50 Winter Coats ® 4 Coats in all—all for Misses—2 are black crepe dress coats with large shawl gollars and cuffs of mink, sizes 16 and 18, 2 are black dress coats with square shawl collars and cuffs of Persian iamb, size 16. s59 50 for $89.50 to $145 Winter Coats . 14 Coats in all—all for Women —black and brown fine wool dress coats with mink, Persian lamb, and beaver collars and cuffs, sizes 38 to 44, silver fox and blue fox collars, sizes 36 and 38. 50 for $125 to $165 Winter Coats s . 10 Misses’ Coats—including the finest wools and furs—black, brown, and blue Forst- mann woolen dress coats with mink, blue fox, beaver, grey krimmer collars and cuffs, xli:.est Huv.o 18, with detachable cape of Persian lamb, shawl collars or blue fox, sizes o0 18. 14 Fur Coats, 1/, Price! 1—$125 Beaverette (dyed coney) swagger..$62.50 2—$275 Hudson seal® with ermine 1—$150 Leopard cat swagger coat $75.00 1—$495 Hudson seal* with Eastern mink..$247.50 1—8295 Black Russian caracul with shawl, §! 1—$295 Hudson seal* with kolinsky.. 2—$295 Black caracul coats with silver fox, $147.50 2—$325 Natural racoon coats 3—$195 Black or brown caracul $97.50 *Dyed muskrat. FUR SALON—THIRD FLOOR Good-bye to Dresses! Misses’ $16.50 to $25 5th Floor Dresses for afternoon and evening. ... .. Women's $16.50 to $25 5th Floor Dresses. Crepes and sheers Women's $16.50 5th Floor Dresses. Only 7. Brown and black crepes. Larger Women’s $16.50 and $19.50 5th Floor Dresses. Plain crepes. . Larger Women'’s $16.50 to $25 5th Floor Dresses. Crepes, sheers. ... .. Larger Women’s $25 5th Floor Sports Suits. Two and three piece knit. . Juniors’ $16.50 4th Floor Dresses. Crepes, wools, and satins. Juniors’ $16.50 4th Floor Dresses, Wools with suede jackets.............. Juniors’ $16.50 and $19.50 4th Floor Dresses. Bright woolens Women’s and Misses’ $29.50 to $65 Dresses Just 30 of them in all! Beautiful fabrics and details. Evening, afternoon and s street styles in rough crepes, wools, matelasse, lame, satins, laces, and velvets! Separate jackets, fur trimmings, sequin jackets, new sleeve treatments, embroidery, Black, brown, blue, red and pink. Sizes 14 to 20, 36 to 42. Sports Shop Clearance—3rd Floor 110—$3.95 to $10.95 SWEATERS. Most of them are dark colors 99—ANGORA AND RABBIT’S HAIR DRESSES in pastels and dark colors. . .. ... .$3.95 28—$16.50 SILK SPORTS DRESSES. One-piece. Sizes 14t020..............$5.95 58—$16.50 to $29.50 THREE-PIECE KNIT SUITS. Sizes 14to44...........$10.00 21—$19.50 to $39.50 WOOL SPORTS DRESSES. Two and three piece. ... ...$12.75 Eery One of them a 3 Handbag Spring styles, Spring colors! Special at $]- 9 5 ° Grey, red, navy, brown, beige, and black. We've seen the bags—and we've already congratulated the buyer! You just can't afford to miss this special purchase. Here are the leathers—Smooth calf, patent leather, crystal grain, pacapig grain, calf with snake, calf with patent leather! Here are the models—flat tailored envelopes, frame tailored pouches, pnderarm pouches, long-handle pouches with lots of room, trimmed with metal, self trim, and marcasite. There's not a costume this Spring that these bags won’t match—not an outfit that won’t look all the better for one of these bags. 500 Pieces! $ m ewe 1 Costume Jewelry Specials in Toiletries! s Magnifying Mirrors with pastel colored han- 2: for I Ses Foiding, styte, e < magnifies Necklaces! Earrings! Bracelets! Clips! Brooches! Sports Pins! Here's a grand chance to pick out a com- :’u‘“mt’ W'fi“l_‘::"' "M‘Mifl*-m 7hélh plete set of costume jewelry for every spring absorbent. Large, wooly puffs... % c costume you own—and smart jewelry, too! Per. Galalith, metal in gold anad:silver finish, and * rhinestones. Pendant and choker necklaces, link or bangle bracelets, metal and rhine- stone clips, sports pins for hats, dresses, and scarfs, and guard rings. and fragrances. spe:ti! Btoooeeeienns . Dusting JUNIOR the gayest, newest Prints 37.95 You know the feel- ing—you must have & new frock or dfe! These are the prints — jacket 1rocks, dresses with capes, some with short puff sleeves, some with the be- low elbow sleeves, wit long Blue, navy, green, red, black and brown. Sizes 11 to 17. FOURTH FLOOR all the rage! a new selection at $].9 Such crisp, perky ones; you'll invest In‘ ':' dozen to wu': wi a separaf skirt or your new Spring svit! Plaids, checks, tailored viques. High necklines with bows, cunning lit- tle sleeves, shir- rings and pleating. Tallored blouses. Lovely pastels and white. ~ Sizes 32 o 44. THIRD FLOOR Lambskin Pull-ons ] 1 .65 We're pretty critical of the gloves we buy, be- cauze we have a reputa- tion for fine gloves that we are proud of—and want to keep. ‘That's why youll find these lambskin pull-ons more than good. They have pique seams for service, and a gusset in every finger to make them fit perfectly. Perfectly plain, with scalloped tops. Black, black with white, ‘brown, {relt, eggshell and white. Tailored Neckwear Special 59¢ Isn't it fun to transform your frock a dozen times with the new neckwear? Especially when you can do it for as little as 59c! Collar and cuff sets in pique are nice—so are the bows to wear a la the cat’s whiskers, the funny little bibs that hide & deep neckline. Vee and high necklines, All white. $3 and $3.95 SLIPS, GOWNS, PAJAMAS, CHEMISE and DANCE SETS $1.95 The Slips—Two lovely styles from which to choose! One is bias cut with lace appliqued at the top and rolled hem— the of.:la' isa !gxr-lo;,‘ slip :m: hand- run Alencon lace and s deep shadow hem. not all sizes in each style. The Gowns, Pajamas and Underwear— Bias cut gowns with two-tone net trim- ming, bias cut chemises with cream laces and hemstitching, crepe satin dance sets with lace trimmed bandeaux and fitted panties. Broken sizes, so be lnlle s;Lnrly tomorrow! Blue, tearose and Corset Clearance! 20—$1 Brassieres, in crepe de chine, mesh lined with net. One evening style. Odd sizes.........ccc000..3% 3—$3 Dance Girdles, in crepe de chine with Laster side sections. Sizes 24, 25, 28..... 25—$3 Girdies, crepe de chine with elastic side sections. 14-inch lengths. Broken sizes .. eeeea$L50 dmmm de chine an ties. munmmflm!.... 6—$7.50 Scanties in peach brocade. Slightly boned, with uplift bandeau section. Sizes 34, 39, 40.......84.95 3—$15 Corseite - brassieres. Silk faille with imported elastic. 16-inch hip. Lace bandeau. Sizses 43, a:“ Very Special Purchase of DRESSES for Women and Misses notsmionsd | 37 You'll be simply amazed at these dresses! Every one is fresh and new—-every one could be selling at a higher price. When you come in, notice the fine details, the generous seams, the spotless touches of white mousseline de soie and organdy, the daintiness of the hand-fagoting and em- broidered batiste. Sheers and crepes, plain colors and prints! Sheer jacket suits for women with Roman stripe blouses and soutache braid trim, capes and jackets for misses. Plenty of plain tailored frocks in navy, beige, grev and dawn blue! Sizes 14 to 20, to 44, 16 to 24%. FIFTH FLOOR DRESS SHOPS With the wanted [u;:oo‘: s2 9‘50 smartly furless Imagine detachable scarfs of real beige or white ermine. Imagine galyak, kolinsky or fox borders on capes at this price! Cuffs of silver fox, blue fox and beige fox! And all on fine woolens—Forstmann fab- rics, matelasse crepes, blistered crepes and tweeds. Dress styles with and with- out fur, sports types with wolf, galyak and raccoon and without fur. High, but- toned necklines, trim straight lines, swag- ger capes, big, flattering melon cuffs, be- coming fur scarfs! Sleeves with intricate seaming and tucks to give fullness above the elbow. Black, Corsair blue, walnutan, Gorham grey, dawn blue, . beige and stunning tweed mixtures. Sizes 14 to 20, 36 to 44, 357 to 4124, 4214-48Y4. PASHION COATS—THIRD FLOOR —And Tailored or Feminine — they s]-6.50 need cost you but Our Suit Shop is humming these days— it’s moved to the Fifth Floor, you know, in brighter, larger headquarters. You'll find two and three piece suits, in dress and sports styles. Mannish fabrics in tai- lored double-breasted models—with linen blouses, some with two skirts—one to match the tailored jacket, one lighter, and striped. Some have detachable cape col- lars edged with fur! Blue, beige, brown, tan and Oxford grey. Sizes for women R and misses, 14 to 40. "/ fl - SUIT S8HOP—FIFTH FLOOR // 500 New $5 Foundations —for every type of figure $ 2 9 5 (] Girdles—Corsette-Brassieres Made especially for Jelleff's—and regularly $5! What could be better—for value? Foun- dations for everyone’s spring silhouettes—the slim-as-a-reeds, average figures—and larger figures! Thm' styles in girdles—12-inch length with elastic waist line feature. 14-inch lengths—one with special abdomen feature, one with an average waist line. Two styles in corsette-brassieres—one in brocade and swami, one in brocade with an uplift brassiere of lace. Girdles in sizes 26 to 36, corsette-brassieres in sizes 34 to 44. GREY SHOPS—SECOND FLOOR. 1,000 Pieces! Underwear! Pure Silk Milanese—Silk and Bemberg Mesh— Silk and Bemberg Celanese— 7 90 Without a doubt, from any standpoint—a most exciting underwear purchase! 1,000 pieces of underwear—new, fyesh and clean. Lace-trimmed and tailored panties, che- mises, vests, bandeau-top combinations. Fitted yokes, flare step-in legs, briefs, step-ins, bloomers! Tea rose, flesh, white, all sizes 32 to 46. A new satin stripe weave, contrasting viings u}‘-i" lxndu:fl—md pfl'f:fliy Imluousk}unel colors.SaI% blended together like a flower en. igh and low necklines, cowl necklines too. calloped llars, with 1 q applique.—STREET FLOOR. . TG PNy m,