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Evening star. [volume] (Washington, D.C.) 1854-1972, December 26, 1923, Image 14

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1923-12-26/ed-1/seq-14/

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Significant Departure From
Methods Seen in With
holding Statement.
B.r the Associated Press.
BERLIN, December 26. —The delay
ed appearance of the reichbank’s re
turns for the second half of Novem
ber suggests to several financial writ
ers the possibility that central bank
ing Institution is traversing a de
cisive transitional period, the out
come of which will mark a signifi
cant departure from the bank’s pre
vious methods. The newly appointed
head of the reichsbank. Dr. Hjalnmr
Sohacht, is thought to have ideas on
the issues of gold currency and pri
vate credits which will ultimately
cull for a complete overhauling of
the bank’s policies.
That the reichsnank’s statement for
the last two weeks of November
should be held back until Christmas
eve. which marks the beginning of a
three-day banking and one week
bourse recess, occasions only re
stricted comment. With the Decem
ber returns still outstanding, an ade
quate survey of the Institution’s pres
ent resources and liabilities is wholly
precluded, especially as the twelfth
month invariably makes heavy drains
on its credit service.
Taper Marks Increase.
The returns for the latter half of
November reveal an increase of 308-
000,000 trillions of paper marks in
its holdings of private checks and
drafts, which, oddly enough are offset
by an almost equal amount of newly
floated currency, although the bank’s
communique intimates that the lat
ter was chiefly occasioned through
the enforced absorption of emergency
currency of municipal or private ori
The conspicuous increase in the
bank's acceptance of private bills of
exchange suggests to some observers
that the reichsbank during the latter
half of November and possibly be
yond that time proved a useful milch
cow for industry, trade and com
merce. which sought its loaning ac
comodations at an annual discount of
5»0 per cent in preference to paying
anywhere from 20 to 40 per cent for
short-term loans on the bourse or
meeting equally excessive rates in
the private banking world, which, in
addition, continued to hold aloof from
the general extension of private
The reichsbank’s current returns
also failed to make clear whether its
heavy advances on private credits
were based on the paper mark, which
at that time had not yet been defi
nitely stabilized, or whether the loans
are returnable on the basis of gold
New Problem faced.
Whether the army of borrowers
who helped to swell the relchsbank's
fund of private chits hoped to profit
from the Inflation period’s last gasps
by making a quick touch in paper
narks which ultimately found highly
respectable enchantment through ef
fective temporary stabilization or
conversion Into foreign currency, is
only one of several queries prompted
by the belated November accounting.
Up to December 22 the reichsbank
had drawn 750,000,000 rentenmarks
of its allotment of 900,000,000, which
it is obligated to place at |he dis
posal of the central government and
on which interest is to be paid. Pre
viously it turned over 300,000,000
rentenmarks to the federal treasury,
which the rentenbank by the letter of
Its charter is to place at the govern
ment’s disposal free of interest. These
rentenmark holdings, which are com
puted In the relchsbank's statement
on the basis of the stabilized paper
mark, are primarily intended to ab
sorb the government’s discounted
treasury bills, which, it is announced,
will shortly disappear from the cen
tral bank's returns.
On January 1 the rentenbank will
transfer to the reichsbank the sum of
1,200,000,000 rentenmarks, which will
he wholly reserved for the purpose of
private credits and advances to the
note printing banks.
Report on New York Conditions
“Shows Tenant Worse Off.”
ALBANY, N. Y., December 26.
Housing conditions in New York city
are worse than they were three years
ago and a progressive aggravation
of the conditions continues. Gov.
Smith was told in a preliminary re
port of the commission of housing
and regional planning just) made
public. The committee said a com
parison with the 1920 report of the
governor’s reconstruction commission
Indicated these outstanding facts:
Rents have increased forty to
ninety-three per cent: factory wages
show a decrease; there is a greater
demand for homes and vacancies are
fewer; rooms regarded as unfit for
habitation are occupied: little repair
ing has been done; sanitary con
ditions are worse; ventilation is bad;
there is unbelievable congestion in
virtually every block: high rents are
taking money from food and educa
tion: standards of living are being
lowered; emergency rent laws are
being evaded. Gov. Smith said the
report “presents a living picture of
homes in New York and it is im
possible to escape its meaning.
Housing conditions presented by this
report show the tenant to be worse
INDIANAPOLIS, December 26. —The
Rev. Alphonse J. Smith. D. D., pastor of
the St. Joan of Arc Roman Catholic
Church here, has received notice of
his appointment by Pope Plus XI as
bishop of the diocese at Nashville,
Tenr.., It is announced.
J New Year Greeting ||
U Cards ||
ad ■»»
S 3 We have undoubtedly =s
=3 the largest and most ||||
=3 complete assortment of |^=
I unique and original New
S 3 Yecr's Greeting Cards j==
=||| ever displayed. If you
received Christmas Cards e=
from some one whom you
as overlooked, here is the SSc
= chance to gracefully re- ass
=■■ clprocate. Our New S 3
Year’s Cards are not like
S 3 those you are accustomed p=
SS to seeing—we specialize EES
= in novelties. t=
HI The National I
H Remembrance Shop B
=■ (Mr. Foster'* Shop) f=
H 14th Street OB VL”A^™ m ■
= Also 1229 Pa. Are. SS
■ Mi 1 L*l
Avoid Imitations-Substitute*
• *
Boys* Brushed Wool V WTfc Boys’ “Protecto”
Reasons For Another Busy Day
Srlg of inter Costs t> . j t a-a- *
Pur Coats and Jacquettes At
n, Opportunity Too Good X a 1 a •
J!|k For Any Woman to Miss JcTC" InVCntOry KCdUCtIOHS rßfth
JfjgL . SIQ slls, $139.75, $235 •
1 ■ W m What better way is there to invest your Christmas check than
n * n a smaßt F ur Coat? The reductions in this Pre-Inventory Sale ASwkMm'y Aitt
11 make it a particularly good investment, with the greatest part of ttßßß imilmBB I
IjjsßsJ Think h f a new winter coat for Nine- the fur-coat season still to come.
/ teen Dollars! Christmas has left you with ~
a scant pocketbook, yet you must have a -> . t iK. (M
new coat ’ and here !t is at a p rice s ° |ow lur Coats ronnerlv \ f
you wilJhardly miss it. > A m n t t * Ivi n
■mm Many of these were coals that sold in $145.00 RedUCed tO ' IB
i*l \ i our early fall showings at prices decidedly /dfa •SI “51 iSjBKPSL
higher, while others were odd lots bought H SW/*XSBfdK • Jmmm
* • new rom ma^ u^act^ rers ’*° *° “*■
Bolivia*, nomiandies, suedine, polair coney), with collar and cuffs of natu- - VHL
I anc * * sport plaids and checks, ra j skunk, natural or Viatka squirre*- Vr'%' MhaSiyC V*—
each defying this low price in its quality Natural Muskrat Coats.
I IIpIPn and exceptional good looks. Many are Caracul Jacquettes, tan or gray. • rxaßp
trimmed with fur opossum,* nutria, Wildcat Jacquettes, trimmed with raccoon. tk
J/ V beaverette or Manchurian wolf. Sizes for . I! / K.’
m . Fur Coats Formerly IMgS Wmk
■ $195.00 Reduced to I
Silk-and-Wool Canton FSI $H I
Crepe Specially Priced /f\ It j-ff
Coats of Civet Cat, Natural Muskrat, Belgian Squirrel (gray coney) fflSil
AO /AyJi. or ar Mink; all 48 inches long. Mil f
' J/ < Caracul Jacquettes, in tan, beige or brown; some tripimed with red
With the holiday season passing, you can now give iPI Wl
thought to your new frocks and coats for the coming M, 1
year. This is a beautiful mixture of silk and wool and C/a - 1, Li 11 1-4 V V^kV
fashions dresses of both beauty and service. Yard /BalaSpmte Ji Ul IjOalS T 0111161^
wide, in twenty-five favorite colorings. A/\ J Jl *
Four Woolen Salt’s Hudson C-B Corsets and «00 XvGCI 1106(1 tO r
GOOd |l.oo eCmlS Seal Plush, SI2SO Claspons, SI.OO
Z%;: l J r cZ*s ' ffip
All-Wool Serge price much lower than real hip. Claspons of fine coutil with . - rtj j ci/jj i x i- pT/V
All-Wool Stripes ur s™f. V lee s s K ° ft *? ,le elastic inserts at waistline, for Luxurious Coats of Hudson Seal (dyed muskrat) or Caracul; 48 inches f M
Four fabrics that are the ’ s f slender and medium figures. . long. Self trimmed or with wide collar and cuffs of Natural Skunk. Beau- At;
« « p , « • . oi coats, capes or irimminKS .• # «« *i« «• j t
leaders for sports skirts. • . _ ,S . tlfullv Silk lined. .
dresses and many other of on other fabrics. Rich black In flesh only. SECOND FLOOB, lansbubgh k bbotheb , - ™
the winter’s needs. only.
Your Gift Money May Be Profitably Invested In These Sweaters of *
Women’s Smart New Low Shoes . Reduced to
vSg^jll Some of our finest sweat
• Specially Purchased New [|J I e rs, suitable for winter or
n. Arr tV aIS and Higher eluded in this-sweeping re-
Priced Styles Reduced to duction. There are several
st y les man y lovely col-
Slip-on and Tuxedo
A\ Styles suitable for immediate wear and for Spring. Stout walking 24 S | ip . on ant j Tuxedo
oxfords, smart pumps, low, high and medium heels, in patent, dull kid, “ Sweaters, formerly $15.95.
f I tan russia calf and wanted shades of suede, as well as black satin and 17 S nk Sweaters, several
L ‘ Kaffir kid. styles; formerly $18.95.
- %•% Models for every taste, sizes and styles for every foot and every need.
Note the smart lines of the eight models sketched —observe the new
-IHJ n ess and correctness. Very Special!
| An outstanding value offering, one that should bring to our Shoe
Section every woman interested in securing a new pair of shoes now, and 35 SWO3.tGrS
. s securing them at an advantageous price.
I Come early tomorrow —for best choice and unhurried service. ormer y 9 . to s. s
V our Christ
models, in many
m . , f

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