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Evening star. [volume] (Washington, D.C.) 1854-1972, August 07, 1924, Image 18

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1924-08-07/ed-1/seq-18/

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18
S! IKS
% ________
%
Advance From $3 to $1,400
; a Million in Less Than
One Year.
C —' ~
%
i
By Consolid»t*d Press.
♦NEW YORK, August 7.—Profits of
48.566 per cent in Jess than a year—■—
Jit's a shame to "break” this story
just as Charles Ponzi, Boston's
fsjenzled financier, has finished his
lifst four years .in- durance vile and
is. facing’ further years in jail, all
because he failed to make good on
hie promises of 100 per cent in three
months.
J3ut this story, unlike Mr. Ponzi’s
promises. Is based on fact. And It
milst not be held u»>, despite the fact
that it will make Ponsi—and his
dupes—green with envy.
Thousands of Americans and Cana
dians, who had more faith in the
ultimate recovery of Germany than
Germany had herself, today are
clashing in at the rate of $1,400 per
million marks, on imperial German
government war bonds, which, they
Purchased as low as $3 per million.
That’s just 46,566 per cent profit—
figure it out for yourself.
Total Face Value.
William Franz, of the bond depart
ment of Robert G. Mayer & Go., Broad
way bankers and dealers In foreign
exchange, today estimated the total
faje value of such bonds held in the
United States and Canada roughly at
5.(ioo,000,000 marks. The figures, he
said, might run as high as 10,000,-
000,000.
CPhese “scraps of paper.” then, axe
tofiay worth somewhere between
57|000,000 and $14,000,000.
Sot all the holders of the bonds
>ooght them as low as $3 per million
iidrks. They have sold as high as
15.000 per million. But relatively few
\ bought in at that price. At least
5 J>er cent of the outstanding supply,
Ilf, Franz estimated, was bought at
letween $6 and $3- —the low price
•cached last September and October,
vhtn the world became convinced
hat Germany as a nation* was des
ined for the scrap heap.
Today, Germany is clamoring to get
hdm back. It is rumored that the
lefman government itself is in the
naj-ket for them, though this has not
lean confirmed. It is certain, how
ivift-. that somebody in Germany
vajits them, and wants them bad.
Like Paper Money.
The history of the old German gov
sriVnent bonds parallels that of Ger
nan paper marks and Russian rubles
-s«ve that it now appears to have
happy ending for the speculators
vho took a long flier in them.
njeal buying of these issues started
n .the United States and Canada in
PS!. At first they brought as ranch
is JJ5.000 per million. By degrees the
'rife slumped to SI,OOO.
Finally, year ago, when.it appeared
lutt Germany must either be broken
ipjinto separate states or swallowed
ipJn bolshevism, the bottom dropped
■Lit of the market for the bonds. The
ctoggan took them all the way
t> $3.
The recovery began with first indi
cations of the possible success of the
Daaves committee and a resultant
owi to Germany. German citizens
Igjred that before the government
■<n*ld get a loan, it would have to
ake up the old bonds at some figure,
uft as German industrial concerns,
•eyeing capital, valorized their old
ihkgationa at 15 per cent of their
•after mark value. • ’
I®.- March the old government bonds
tad climbed painfully back to SSO per
niyion marks. A month ago the price
ias SIOO. With the announcement
hat the plan had finally been accept
d ;by the allies and that Germany
i as ready to accept it, the bonds sky
rocketed.
Today a great stream of the once
rorthless securities are flowing in to
h«» various-bond brokers here, to be
old In Germany. Profits of aH the
f.ij irom 700 to 46.566 per cent are
eiBS reaped.
Man, oh man, wouldn’t some future
'onzi like to get hold of a "sucker
sC containing the names of the
5.566 per cent boys? There ought to
e some easy pickings in it for deal
's in Wildcat preferred.
mump
! ;-95 JPj
in yotii* home if »
during imm
Month of wil I
I Augusi
I In the Small Home Budget Book place this item today:
A RUUD 95 Automatic Gas Water Heater. You have long wanted it and
here it is—daring August Qftly—installed immediately on a down payment
' of $5. A year to pay the balance. Act Now. See plumbing Dealer, .j
i ' Wash. Gas Light Co. or come in for a demonstration.
Ruud Manufacturing Company
733 13th St N.W. Main 6985
WOULD AID EUROPE
ESTABLISH FINANCES
Senator Oddie Tells Silver Hen
United States Win Gain by
Expanding Markets.
By the Associated Frees. - - w
SALT LAKE CITY, Utah. August 7.
—Addressing the producers of three
fourths of the world’s silver. In con
vention here yesterday. Senator-Tin
ker L. Oddie of Nevada urged the
assistance of the .United States Gov
ernment in helping European coun
tries regain normal financial condi
tions, which, he said, would result in
expanding and strengthening the for
eign markets for agricultural and
other products.
His address concluded the first day
of the American Silver Producers’
conference.
The conference is the climax of a
move of the silver producers, made at
Reno last Fall to organize in order
to raise silver prices out of the de
pression stage and expand the market.
Definite plans, adopted by the ten
tative committee of the sliver pro
ducers* association, for the perfec
tion of an organization to act in con-
|p£| D6eQuiclC€asfflmse
Kg WJUSSre^nOjncef
A A
Aspirin
SAY “BAYER ASPIRIN” and INSIST!
Proved safe by millions and prescribed by physicians for
Headache Colds Neuralgia Lumbago
Pain Toothache Neuritis Rheumatism
. . Accept only “Bayer” package
which contains proven directions.
C Handy “Bayer” boxes of 12 tablets
Also bottles of 24 and 100—Druggists.
Aspirin is Hie trade mart of Bayer Manufacture of Meeoacetfeaddester of SalieyUcadd
THE 'ETENiycf STAR. WASHiyoiTOyi D. C.. THURSDAY. ’AUGUST 7. 1934.
Junction with the Government were
presented-4o the meeting.
The purpose of the organization as
outlined in the articles of the asso
ciation sire: To advise, aid and sup
port legislation and other procedude
looking to lowering coat of produc
tion, look to the reduction, transpor
tation and marketing and to eliminate
discrimination against the industry
and to promote and protect the in
terests of all those engaged in the
industry.
-The outcome of the plans for a per
manent organization will not be
known until the final session to
morrow, when -they -will be thoroughly
discussed and adopted or rejected.
WILL SEEK MONEY HERE.
Greek Minister Wants Best of
$33,000,000 Credit.
ATHENS, August 7.—Minister of
Foreign Affairs Roussos yesterday an
nounced his intention of proceeding
to Washington in September to try
to obtain the remainder of Greece
credit of $33,000,000, his American
friends having cabled him that the
time was propitious for favorably ac
tion by the American Government.
DURANT
<‘*Just a Real Good Car**
TRADE COMMISSION HITS
AT GASOLINE ASSOCIATION
Declares Dealers and Oil Compa
nies in Florida Besort to Illegal
Price Fixing.
The Federal Trade Commission
yesterday issued an order, aimed at
an alleged combination in Tampa,
Fla, described as Intended to main
tain the margin of retail profit on
gasoline against the Standard Oil
Company of Indiana, the Gulf Refin
ing Company and the Texas Company.
The order names the Tampa Retail
Gasoline Dealers’ Association.
The commission alleged that the
association "supported by the oil
TIGER! TIGER!!
None Better!!!
Tke Ginger Ale With That
Farewell Flavor
In 10 and 16 ox Bottles Only
Ask for It
Refuse Substitutes
tCSPernneJ^AS
' ’ ’Why Pay more* > s <y" l * YMe^»* <^
| 1405 HSt N.W. | j 604 9th St N.W. [ [ F St. Cor. 12th | 723 14th St. N.W.
Sale of Toilet Articles 34c Sale of Patent Medicines
O’D. Bay Rum Shaving Cream.. 29c Lion Milk of Magnesia....:.. ...35c
Fairy Soap, 5 cakes f0r.... 23c M r es - a Glover’s Mange Remedy 59c
Babbitt’s Borax Soap, 4 for 19c IQc S. S.S. for the b100d....... 89c, §1.49
Stemes Bath Soap, 3 for 19c : 9dr iSr fidr
Goblin Soap, 12 cakes for 25c 18c Hire’s Root Beer Extract. ... . 19c
Pummo Soap, 6 for 25c ForhattS Tooth Herpicide, for the hair 45c, 89c
Jap Rose Soap, 2 for ... ;. ; 15c p*.t«.i*rge ° /c h. K. Wampole’s Cod Liver Oil ; . 75c
89c Lion Lilac Vegetal 59c Djer-Kiss Talcum California Syrup of Figs 43c
49c Lion Lemon Cleansing Cream, 39c 1-owdgr Seidlitz Powders box 19c
25c Sweet’s Deodorant Cream... ,19c Man, . Jj c Vinol, a good tonic.... .....SI.OO
59c O’D. Depilatory Powder 39c " pgcl, Vv Ovoferrin 89c
O’D. Peroxide Cream 39c • P.D.Co. American 0U.!....... 75c
OT). Improved Cold Cream 23c
Shampoo .... .. 37c Tan Lac 89c
Gibson-Howell Sunburn Cream . 29c —— Dreco 98c
Gibson-Howell Lemon Cream.... 29c 5pecia1......'.:... tJpjohn’s Citrocarbonate 83c
Orchard White 42c Pinkham’s Vege- Burgoline Mineral Oil 50c
Melba Skin L0ti0n.....; 35c, 50c t*bk compound... ' Saneteva, Pyorrhea Mouthwash.soc
Armand’s Double Compacts 51.50 Dcthoi cq,, Wampole’s Formolid 59c
. Combination •
Miscellaneous 27c House Cleaning Needs
Handy Crepe
60c Liquid Veneer ; 39c Powder, all odors.. i/ L. |p C Peterman’s Roach
OLD DUTCH CLEANSER 3 for ~l9c —— —~ !-I -VV He - Food •--•-—loc
Waldorf Toilet Paper, 6 rolls for 40c . ' c Preventol, quarts. . . 95c Petermans Roach
Kotex 49c small size.. v . .... B**- Brand Insect Food 21c
Epsom Sait* 20 lb*. V. .'. .". A.,0 Strop Safety in.«t "* . 42.
t °i5 I trOP |r Z r j V Vi. Razor Blades. s’s.. OUC Powder .........21c Moth Balls, lb 10c
Lily Glove-Shaped Wash Cloths ,13c Bee Brand Insect Moth Flakes, 1b... ..10c
„.. c 8 tor ssc. Gem Safety Q _ _ Powder :42c - Flyosan outfits ..... .98c
Bath Spray* . Razor Blades 7’s.. dLijQ Black Flag Powder. .15c Feno Liquid, pint .. . .42c
Purina Castile Soap, 8c; 4 for . 25c '’ Black Flag Powder. .65c Feno Liquid, quart. . .83c
Prophylactic Penetrator Hairbrushes .49c Eveready Safety Insectine ; .. .13c Erioz, i/ 2 pint. ....;. ,42c
59c Toothbrushes, a good assortment. .42c fozbV Blades 6’s C { * * J 3c J£ noZ D pmt ‘ 830
art am • fiQf* ttazor oiaacs, os.. Roach Sault 13c Tar Bags,
89c Manicure Scwor. 69c - - —- Roach Sau lt 29c 75c, Is’c, $1.19 & $1.39
Gem Safety Razor •• * • ™ Auto Strop Safety Roach Sault ... : 59c Electro SUicon Gream, 21c
Angel Back Playing Cards 3oc Razor Blades, 10’s. vM-fV. Peterman’s Discovery, 15c Wright’s Stiver Cream,
• ■ ~ ' Peterman’s Discovery, 25c 21c
(d£b the BIG THREE SKOAL Rubber Goods Cigar Specials
For Friday and Saturday Sale For Friday and Saturday
Chocolate Creole Peppermint Patties, IQ**.. red rubber, molded, 3-qt. size, I 44s 7-20-4
Double Dip*, sl-39 Bold
regularly 49c $3 oo Goodyear Combination Ofty Our price while they last
Chocolate Covered Liquid Cream, ACp Water Bottle and f-i n r q-j Art
all flavors, regularly 59c.» . TO r Fountain 3y r. nge. *J jg Chas. Denby M.OU
All TU r Lt , qa guarantee , speaa.. 6c each - Direct from the~
All Inree tor VUC $2.50 Premier Fountain Syringe. $3.00 box of 50 Factory
red rubber, molded. 2-qt., made _
■■ by Goodyear, guar- $1.39 j
Syr-
LISTERINE
xEEm»« well—ao W Teoiet a antiseptic that
y T / fa vtgtUibl* apart ant) tmkan ftt mm Ollcli dUiVvO _ H3S SO ITlSfiy USCS
\I / I %f r 7 jSfa I trfrbt wm belp kan> yo« weti, br kT TT . lin the home:
- - D--A iNCCt RemOVCS Half :
' — 5 tvoacnMiier 'teet - fr i our s P ec*ai
Take the Bum '
out of I 'W lilts her ~ .Baljili r»aS», leave* the skin
SUNBURN Bml house to be in LARGE BOTTLE
uritb ! EIIWHiB , , , arm*. bec*u»e it doe* not inemse or
w l Mtm m a* w atlW. L ■MWafll the best Shape further growth. Nothlr* «> CDP/il A w
Radium Ointment 0 po-.n*. it SP£CMi
OdHMNI Or nidar dN*. M*4* ■ |p| . i •/ „ '
It Is cooling, healing and ! rfibe nm liMm. 1 WsBEXSM can t lo * l DC it “f
ae" aol Hit is infected Q___* 1 AC. /1C
25« soc, ,f 1.00 | 89c with Touche*. jpeciat 4PC 1 ■
companies** undertook to organise all
retail gasoline dealers of Tampa Into
an association which would agret- to
sell gasoline at 4 cents a gallon mar
gin of profit- Where retailers refused
to join, the'cotnpanles refused to sell
d*iQ op ROUND (to oC
TRIP . «plO«Zd.
ASHEVILLE, NORTH CAROLINA
FRIDAY, AUGUST 15, 1924
K. Froportlenate fare* to Black Mountain, Brevard, Hendereon
ville, Hickory, Lake Junaloska, Lenoir. Saluda and Waynesvllle, N. C.
.Tickets sood going: on all regular trains of August 15- final
limit returning August 30. 1924. ’
IS DAYS* VACATION IN THE SOUTHERN APPALACHIAV
MOUNTAINS, among 100 Mountains a mile high. Golfing. Hor«»
back Hiding, BoaUng, Fishing and other recreaUons.
#Ter descriptive booklet*. Information, ticket*.
etc., apply to 8, Z. Burgee*, Siviaion Passenger /*J=5Sk
iKsS'u %:- w ~
Southern Railway System
them gasoline, or rendered them “In
sufficient service,“ the commission al
leged.
Respondents, tinder the commis
sion’s order, are required to stop the
alleged unlawful practice.
I —' *
THE VICTROLAS
AND
NEW RECORDS
Advertised by The VICTOR CO.
on Page 12 of Today’s Star
ON SALE HERE TOMORROW
DROOP’S ££ 1300 G
New Victor Records Released Weekly
J

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