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______________________________________& V FINANCE WILLIAM At._CONRADteN BUS I N~ES -~ _ __ M#cAdob M Head of Mi That Mexico will in all prehi take cete of her stat. railways i wesking bas., eesses today as rem mamds of American hulses aMP who held securities of the railways th staftment that - ON forner Director General 4f the Rail, ways of the United- States is 4ow is Mexico going closely into the bi matter in hand, financial circles an beoining to feel that Presideni Obvegsp is on the riuht track and can bo dended to work for Mexico aS Dias di. Obregen, it is pointed out, shown eliarly by his move that he realins that the development of her truAI line i the salvation of his country, and that to keep in the front ranki of the nations in this respect he must see that the-commerce pf the country is aided in every possible way With Mr. McAdoo in charge. Pres Ident Obregon at once shows hin friendliness for the United States and the big list of bondholdefs resid ing here, and it it regarded as a dis tinct advance in the work to secure the recognition of the Mexican Gov ernment by the incoming President. To put the Mexican railways on have to be secured and with Mr. M country believe that the bankers of power to aid in the work of reconstr At the present the railways are by the fact that since, the days of I work of keeping them in sbape for tI it is hoped that once again the pa securities will be begun. NI. MeKEE HEADS COMMrE. President H. H. McKee, president of the National Capital Bank Is chair inan of the committee which will rep resent Washington in the work to Ssecure subscriptions for the new S,00.000,000 foreigns trade corporation being organised under the direction a ,number of leaders of the American Bankers Association, according to announcement by John McIfugh. of New York. -who is chairman of the ,general organization. Mr. McKee has been notified by wire of his appointment but stated this afternoon that as,yet he has not beard as to how the committee will be organized. A. I. A. LOS ANGELES CON VENTION. (1. E. Bowerman, executive man ager of the American Bankers As sociation, left New York yesterday for Los Angeles, California, to make arrangements for the annual conven tion of the bankers, which is to be held in that city in October. The bankers' convention is always one of the most Important gatherings of the year, both with regard to at tendance and the value to the bus iness world of the convention's opin ions, and this year's plans contem plate making the Los Angeles con Ivention one of maximum usefulness 'to the business of the country. Be fore going to Los Angeles Mr. Bower Tnan will go to San Francisco to confer with John S. Drum, who- is. President of the Association. All of the special trains running Wall Str SEARX-ROEBUCK. NEW YORK, Feb. 2.-The decline if *13,X93.210 in gross sales of S'ears toebuck Company for January as compared with JI]nuary. 1920, did not cause a surprise to traders who have been watching the affairs of this com pany closely. Very little buying by farmers and others who make up the bulk of this company's customers was evidenc-ed during January. Some im provelent. however, has already been experienced in the business, and by spring it is anticiphted that sales will be nearer the normal basis. TRACION INQUIRY. The resolution introduced in the State senate yesterday calling for-an Investigation of dealings in the trac tion stocks from July 1 to November 1 caused quite a little comment among profesAionals. Although no one in the Street could be found who would state he had seen Eovernor Miller's mes saHge on the tractiOns before it Was released. its trend was pretty well known among traders. Those who had quietly pick'rd up the traction estocks were able to dispose of their ho'ldings right after the message came ouat without much difficulty. PENN SEABOARD) FINANENts. There is no intention of making a public sale of the new stock to be authorized by the stockholders of the Penn Seaboard Steel C'ompany at their meeting on February It0. Directors are considering several plans for ex icansion of business and desire to be Ia a position to act uromptly when ever they' believe the opportune mo mnent arrives. EEATHER OUTLOOK. The passing of the preferred divi dend by directors of the Americarn HIde and Leather Company. has aroused considcrable interest as to the agfairs of the Central Leather and other companie.. It is not believed that the Hide aend Leather directors would have. passed the dividend if there were any posslble ways in which It ('ouid he onbl. Leather men continue in the belief thaet no permanent re -,l~t Iitm t '*en 1" t .tpeC~cd until the public is induced to buy. this can nly) be broucght aboutl by tetailers necepeting the situation and reducing their priers. While the leather men admit that some retali prices haye been reduc ed. ther' state therA are many retailers who still hold out for too much pronit. STOCK E'XCNAN(.E RUFINWEs., The committee on securjties of the Stock i~xchange heas rueled that tranis actionsa in Atlantic Fruit. common stock should be ex-rigthts on Febret ary I. and those in Southern Pacific stock m ~i ghts -e Pobruaary R. RAILWA~s P'AY l)IVINfD. Diretors of the Buffalo. Rtochester and Pittsburgh yesterday derlared a semi-annual dividend of $3 a share on semi-annual stock compared with $2 a share whic'h it hass been paying *eery six months. Shareholder. of the Midwest Re finingat s their annual meet in. uM....h zy Become .can Rwys. i calp W . G:McAd . to them en a rel -if news to ao ers Saw t WILLIAM u. agood footing a big foreign loan will iAdoo at the helm finatielers in this the United States will do all in their uction. understood to be in bad shape, caused luerta nothing hag been done in the affic, but with the new move in hand, ying of interest on the outstanding U. S. STUDYING FOREIGN -ARUM SYT Systematic and comprjebensive in formation covering the problems of marketing farm products in foreign countries is being collected by the Pepartment of Agriculture, it was announced today. World markets have a deep and far-reaching influence on domestic markets and prices, but, although ap proximately 50 per cent of American exports last year consisted of agri culturai products, and, although the prices of some of .the larger stable crops, such as wheat, cotton. and wool, are made in foreign markets. little attention has been given to conditions which American farm prod ucts encounter In foreign fields. say specialists of the Bureau of Markets. from central points for the comfort and convenience of the delegates and their families, will make stops at places of unpual interest. Los Angelel considers itself fortun ate in having setured this convention. and committ4s are already at work there planning tor the erent. - WILLIAMS NOT TO RESIGN. Itama, comptroller of the currency plans to resign his post has been denied by that official. et Gossip 1, will vote on a proposal to authorize a plain for the sale of not more than 50,000 shares of stock to employos at such prices and on such terms An the directors may from time to time de termine. LONG ISLAND SELLS BONDS. The Long Island Railroad Coln pany has sold $1.200,000 of 6 per cent equipment trust certificates running from 1921 to 1932 inclusive. The securities have been placed throuh ''-investment bankers at prices yielding 6A per cent on the Investment. This is the first equip ment trust certificate to be issued recently bearing a 6 per cent coupon. WANTS PAYNEALDRICH TARIFF LAW RESTORED Amendments to the einergency tariff bill wer'e resented in the Senate to. day in large number. pendfag con sideration of.the.Oi-oposed cloture rule tomorrow. Senator Thomas, Democrat, of Colo, rado, had the floor and planned to speak all day. lHe granted permnission to all who had afnendments -to offer them. Senator Moses,, Republican, of .New Hampshire. introduced an amendment for the substitution - of the Payne Aldrich tariff act for the pending measure.. An amendment I ptroduced by Sqi.. ator Borah,' Re p6811ican, of Idaho. would strike out all tariff on evap orated. prepared and sugar of milk. S9enator Trammell, -Demoer t. of Florida. introduced an amentiment placing a tariff on oranges, lernons. limes and cherries. DINDE NDS.' Company. R e - Psy- Hidr.. of Cop pai Co~pae.riod, able. record. p............'..8. Q Feb. 15 Peb. Amn. Fmelt a Refr I 4 Mar. 15 Feb. 15 Do pr... ..... Cl Mar. IFeb. 11 ('onsumera Co.- pf. 5% $A Feb. 2I0 Feb. 10 iMouthern Cal. Eld.$2.00 Q Feb. li' Jan. :11 Notrthern Pipe .3.0 I40 4 Mar. 1 F~eb. it MOTHERS HOLD NATIONAL CONGRESS JIERE IN APRiL Parent-Teachers to Join-Chair men of Committees Named. The annual convention of the Na tional Congress of Mofhers and Par e'nt-Teachers' Associations will bn held in Washington on Apil 25. Tihe following women h'ive1 been named chairmen of 'onmmittcees cen details: -%frs. lles Scott iaff.. national local chairmn; Mrs. HI. Y. Spoits wood. District manager; Mrs. ta-on ard lDoten. credentials. . MIi. l'ercy Danwiel and Mrs.. l'rnest TPaniel, hows lpliais; Mrs. 1. (I. Neumn'i.er. infor meation; Mrs. lE. P'. W ..honi auto n'obiles: Mrs,.. I.. s'. Ilhy, e'xhisei's, and Mrs. . N.Saunders. piublicity. The U.nited St ates boasts of 800.000 Each Sction ShouM Mok 45e 8Kid, U. So SWa O Markets lays. Need for same general "WbetiSe by communities of a 1ngle, superlet va riety of cotton for each CeSmality has been brought out by ce-Operatite graders working under the' direeties of the Bureau- of Markets of the De partment of Agriculture. who lest year graded . approximsately MS7 bales In Texas, Mississippi. Louisiaa. North and South Carolina, it was as nouneed today. It in evident, smy dewertliemt e clals. that no mdrkqtis Aaeiosiatig can socure the full bowfets of organised eort unless it Ig'ha limg dependable quantities of a:stabdard Ised produc(. coTToN speCIALPe For this reason .ettll 'g4I lots of the depat"q et are WV eelsi attention to' eucating -*, re garding the value- of -el .Votton before sle, the use of m et Quo. tations, the grqwing of better quali ties of cotton on a eonu ity basis, the depressing Ofegt ''Cinferior staple upon les, and t ogee in eldest to niproper iklns ng, - baling and storage. At some of. the towns In which classers were' locato# it' had - been the custom to' buy all cotton a pa" staple.. but during the post @sesn depatnent Officials point out. eg ton classed in the couire .L tbjew demostrations as a fuol IwA' or lon ger was sold at a premahant. thus bringing into the hands of the pro4 ducerp thousands of dollars mor. than' they could have gain* under former conditions and emphasising tfie desir ability of selling according to actual classes. A further result. say officials, has been the withdrawal from the field of so many so-called "soqipers" buy ere whose profits depend largely upos the ignorance of the grower as to the class and value of his cgtton. Big Progre - By Int. Fi Remarkable progress in the work of the International Finance Corpora tion, of this city, is noted in the re port of the company, as of December 31, which was issued today and shows a working capital of over 8700,000. The corporation, which has operated for only six months, shows total cur rent assets of $705,935, while the total current liabilities are $284,353.80. The total volume of businqss pur chased for the past six months, ac cording -t9 Ben L Prince, vice pirfsi ent and geneyal manager, who was formerly tax collector for the District of Cclumbia, was $1,170,413.322 "In view of the resultA pbtained during the- first six months." Mr. Prince points 61W. "When the'inanage ment was necesarily handicapped with the problems of building and ef i ent working organization, estab tcshing bank lines, etc., the ensuing iwelve months, with an efficient or ganization and substantial bank lines established, plus gradually increasing 'Daniel' Is ( TownIsEa WhatHei NEW YORK, Feb. 2.-T Ion, L. I., way. Main street is Voorhees, editor of the Sout again and the "clam digger Friday drags 'round to see V is goin' to say in his noosp tainin' lo his recent-now-i 'There's some that Rays that "Old, Man Cooper. the clam digger.'" editor of the Babylon Leader and justice of the peace. who sent Voorhesato the -hoos gow, ain't nervous or nothin' "Old Man Cooper" ain't mayin' .he ain't. But Old Man Putttarcken and the rest of the gang aren't a bit satis fied with that there now attitude o' Old Man Cooper. when it is recalled that no one ain't askin' him is he ain't, what they want 'to know is, ain't be is. TOWN ENTERED OUJECTION. The "Daniel" of Babylon, who has be4n an editor on the South Shore since last Valentine's Day when he "took hold" of the Signal, put *' couple of crutches under it and gent it tottering forth each Friday-some Fridays--rain, or shine, purveying "Truth" in a nude state. Babylon objected to "Daniel's" ex position of truth in- the nude, and "Daniel" csme back with the mes sage that "Truth is all right when its not told out of' pure malice." He realized, he said. that "truth ii ponme times the most cruel form of gossip." but. he that as It may. "what the Lord allowed to happen he was not going to be too proud to print." So he antagonized the upper crust of Blabylon and the "younger sot." and after calling the Babylon Na tional Bank a "clam diegers' hoekc shop," ran into a little difficulty over a financial deal in which he issued several c'heckna that the "clam dig' gers' hock shop" refused to honoP. N4o "Daniel" went to jail last Satur day and yesterday his father went to his rescue from N~ew York and settled everything up, and "Daniel" is back in the Signal office. EDITOR LIK(ED TEE JAIL. Whether the Signal next Friday' will be a green Signal, signifying naution, or a red Signal, advertising danger, Is what the "clam diggerd,' as "Daniel cilia the residents of Babylon. are wondering about. 'There's one thing in this town of Babylon I can boast." said "Daniel" last night to a reporter, "and that's the jail. At least, no one in Babylon can say that i'm not patriotte, When A.M 48 W & 4 ' 4M6 *m.As.QC t... Wf 9f 9f .9 Awm.Dase Q 42i - d i OX AMs sixb... ess6 '964' UNg An60W-oes....s. WW a IN 3a AMa sse..... ns s" as Am.Ca&Vr P.. as 0s%4 sti A. MxIe A Los. 9 8% &M1a tet.... 41, 4 40 419 ita. iall.......... If Vr 8 ?IP.Zate.V3.. .gg es b 4434 Aap.La. F.FJa off, u fm A . Low........ a u a AanLasteW as9 IN4 u QM Q Aa .gdWtios.... 41 41% 4li 42 AM IbliiaCe... 3Wp gd W 11 AOL. ng....... f Ug SM KW1 AAMautaa " 8 1W M M9 806 u.wT.&4Td.-- M S6M 6 01 A? .Tobaes.... 11. 13 156 13634 AxL Tob. ...... Ub1 UtS 115 US)% AM.Wee..... 4 0 5 46 9 88M A?oeema....... 4 NM 31M I Aseesaa oiln... 99 - so so lU A.L.G.W.I...... of4 Mk 63% WkG Deswla L .... 34 am sit 0M "Mne. a C .... 3 Eft W6 5 asL&@Q1eafd.. EOM6 80%3 803 MM Befh.MoMses.... 436 436 436 4 pethlehem ftee". 53 G o 3 631U 6et.3pet M *.... M6g 01 55 6 A~twag -SM ,U4 54 5ys VFW es. % .:*,W lo I % 6 .... ti 19%4 31 1,,% ce sde W......r. 6% 15 ab 35J4 CaLPteie...... a a a 6134 CaS. YWrW .. e 5 S34 5% 34% 5X canadia fteSS. 1* U6 116 U6 CeStral 4 the.. 3 3 96 396 M p'e"r de asoe.. "9 1 26 33 gbagdisr Motors. 'n 7016 70k 71 C.LCallhaa.... 11 5% 5% 5% W C2LA& .P..... 3 27 27 2Ng C..M.SL .P f. 44 4214 429 4" 0.2.2.6A P...:... 2WM gel ah8 a C I'AP.Gwi... OW' OW Wi 62)4 is Shown iance Corp. capital. should show very gratifying restalts." The'following is a condensed state mneot of the report: ASSUTS. Cahb in.bawks ................. $3.605 34 Approved collateral -Mote and d irect ie* purchase$ ..... . 336.441 30 Accounts reoeivable ............ 301,64 0 1 Suhdry accosats receivable....'. - 6.636 43 Total cfarretu.aets . 706,946 00 Furaitre sad fixtures. . 4.73 26 Orgaisation expeiture ...... 1.185 91 Prepaid interest 2.30 33 Prepaid espeess . 790 43 Total . .,s Ii Collateral truet notes pyable ... .27,(G0 00 evedry aeobuhtA payab ......... 6.,3 22 Unpaid dividesdo .............. .. 61,5 Total current liabIlities ... . 324.363 80 Contingent reserve ............... 104.637 43 Unearned interest .and service charred ................ ......,637 51 Reserve for stock- suberi lon.. 45.541 64 Preferred stock f.y palr ..... 343,400 00 Net surplis through sale- of cot mon stock ...................34.666 64 Surplus from earings ..........3.023 60 Tdtal liabilitias ............ 731.090 51 )ut of Jail; Fer to Learn Have to Say ere 's excitement down Baby all het up. Raymond Russell h Side Signal, is out of jail s' can hardly wait till next hat that there now "Daniel" aper, touchin' on an' apper nearnation, as it were. I picked out a bome jail in prefer ence to going elsewhere." "Daniel" asked the reporter to, pub lish the fact that his friend. Chiarles E. Puttfarcken, would have gone his bail last Saturday night, if Mr. Putt farcken had boen able." 'Solomon was a wise man." said Ye Editor. "but neither was a. strong man; but neither of them could have bailed an editor out of the Hfoos Gow on a tSaturday .night, with all tho banks 'closed, if neither of them had a jitney in his jean."' Ye editor said that while enjoying the hospitality of Old Man Coopers "Motel de Babylon" he had received a visit from only one resident of BabylIon. "Mr. E. .1. BurlinghamD, the Episco pal minister with whom I differed on several occasions in the editorial col umns of the Signal, came to my det and asked me if he could cheer me or cifort me. I am going to remem ber that as long as.i live in Babylon. "Old Man Copper, with his hert torn between love and duty, fighting down tihe impulses of a rival editor to dispense even handed justice, and cross grained equjty. did credit to hrimself as an editor end a justice of the peace." "Are you going to call him 'Old Men Cooper' the clam- digger, any more? Ye editor was askced. "I'll have to. think that over." no replied. NEW 'REEN"CH VILLAGE tOE ANGELES, F~eb. 2.--According to announeemenuts by realty promlot era, L~os Angeles is to have a Green wich Village which will house inter eting personalities of the Greenwich Village in New York City. It is said that a plot of ground has been pur chased and the streets laid. A labyrinth of underground chamh ers to be used as Spanish, ltalisn. Franch and Rlussian cafes and as cabarets and basaanrs will be en un usual feature of the new Bohemia, it is -stated. A building at one of, the main thoroughfares of the village is to be built after the HNt ot Mirrers to Vesmaille. 4*IKWCBS" ap o.A ne a e h ..s U - - w lI3 3IS.... 3 $a mom. .c.... 9 % W. pS&aUVst,.... 0% 349 4 a.seS.4r... 99 WX I" 0ess0eibiP" . 6 % ) 181K 08 ager. M 54' 33 MM .3 .1&Wie ... 11 1% 1 asese uMe..... -.0 '35S 34 & MEe.a e.a... 3 4 - 3 7 ?A lqdiellebm UM -, - " i. ............ 7W 7IX n% 74X Ame edz. - de... 3 3 43 43 asteSSWUS.... 4 4 4 4 eerau ekit.. am am 41S% 'M e.M.Cte..% .46 s 9W0% M4 .n. 46. t..... 4% 16 4 hM $Alae . A ... 41 41 41 409 poedrichpi 8. -.. 627% 6* 5 6 4erih e..... '76 1 6 71 &. t.4d.'.... ?g% 7976 156 0. Me & N.RLy p. 96 96 I 26 ONab M.e.... ' 2; 22 1 4ameMl e*r*e. 57, b7 57 , 6 MessesaIbeMna.. 50 50 -0 50 a4ee0U..... 78% 19% 12% 164% MugsseLet-a.. 1a .23 13 33% ,aapImatiemCe.. 14% 34%6 86% a6k ite.a ireI.... 4% 4% 4%M 4% sst.oe, Pi..... 33 134 13'j13) KaeteNseke..... W' 354' 15 51 soatestPaeer. 88 S M 88%1' 07 4ac.ate.... 31 51% 8 96% ga.Pa.p et 7436 743- 746 3 Waiand .o.... 4% 44% 44% 4 aaviDOe ~Oil. 5% 2hJ4 15 31M SdiabanRS C9. 6 6 6%M ewel Te.......73 75 7 76 Jones Tet.... 1526 26 5i Man. Cit Se.- -. 13% 193% 1% 19% Kceny-4g. TIre 41% 45% 46% 46%6 KeyastoeMTie. 1 13% 13 143 J.-ayer Co.... 73 73 73 oenaect ...... 29% 19% 11% 2's Naca.Stl 53 51% 51% 53% Lt..a V. ... 25 W 5 taktsk Momle... 60% 70!,. 70,, 72 XTA W .... 16 16% 16%- 167 s. ..... ...... 9M 21 693M0 Na-a T. =... 14 1L&34- N2% 3D% 14)1 MaxwelM.W.... 5 5 5 5s g 14giean Ptrdl.. 156%4 16A 136 157 Midte otat.... 13 13 13 13% Fidvaleltbe.... 316 31 31 314% Noatgsaryit7 wr 1536 156 15 157 M..E.&T.1.... 26 216 2%6 76 MPaie...... 17 3% 183 1 National Acme.. 234' 23J 23%' 23% N. T.-CemSelA .. 2.16 75. da - 7136 Nat R.LMe.... 4% 4% 4% 5 .... C...... 706 70X 706 703 NT. O &W.... 17%6 176 1% 174' Nv.Co. Cop... 11 113 11 114 NI.Dc. .... 206 24 24 N... N.r.r&... 96 2%76 376 20% North.PalSe.... - 8o 1% 11 8b ortelk & WC.... 99% 9 90% 98% O.Pr.Cor.C.. 3. 3% 3% 36 Oe 01....... 14 14 14 14 PacIY. O1 Ce... 306 34 36% 3476 Pa. Seab. 5 6. 2g1 154 126 3 .1316 Pa-A e, Pet.- 744 73% 73 747 Ran-A. Pet. I.. 61% 67% 67% 68 Pre Marquette. 176 17 17% 17% Peo. GsC e... 37 37 37 '377% Pena. .R. 4QM d0%6 40%6 4036 Phua.Coal.... 3;1% 32% 32.4 33 Pitta. Col...... 56 59 56 56 P'Itt.&W.Va. 3 263% 2686 29% #AereArrw.. a 31% k5%6 15 Pee 1.... 10% 1076 1676 11 #ries. 5.Car..96 dbM 928, WM Preas . Car ptd -99FM 9f36 7 4 93 P.Mer.Corp. N.J b 5 7 57 56% PureOil......... 346 14' 3436 347 PuutaA.Suga. 4576 45 45 46 May ConCop. Co. 13% 13% 13% 1316 Ry. Steel Spriaga 8416 E41 84% 853% Rep. Iro .... 953 <4 644 1:53 Reading........ 83% 6k% 127 83 Reta store. 56 5316 63% t5 Bep. MetorT.. 50%6 20% 2076 21 Rdy Dutc N.Y . 36 t2%6 62% (:4 *.L.&aa.. 11 2136 21% 21% st.L.aa.W..R.. 24 901 23% 95 learn Roebuct. 86% 9 8436 86% *.aali ...23%6 2336 2336 :33 le.Paci~e... 9616 6 E6% 616 lea.Pae.tee-.19% 1936 19%6 1 soutea Rl. 2236 22 , 22 .236 Seu. Ra. t.. 58 Ed 56 5376 Stan. Onl NJ pt.. 106% 1063 136 106% lw-War. Speed 31 31 31 31%6 stromberg Corp. 363. 36 363 37% tUwdebeer.,.. 5736 566 546 t7jj Sup.0Ol Corp. 1236 125, 136 1216 Teaa.C.&C.. % 6% 6% 8,a 1'eWOS0......433% 43 433% '.% TA. e... 20%6 206 20M6 20%6 Te&.P. C.*OfGl.. 3376 323633 ::4 Third Ave....... 16 16 10, 16 Tobacco Pod. 63 t2%, j 3 Trans. & WUIS. 41 4046 40%6 4136 Treseen. il- 10 9%, ,9> 9Jb Uion Oil......22%6 22,% 52A1 23 Unies Facile. ... 119 31836 i1g 11g United FruIt.... 10736 KB64 1, 94 '6% Unmited Feed.. 4h -23 ;4 .a U.lilad.Ae... 8%67%1 6818 U.S. Rabber. 6876 67% 68 6 UaSiteel......62%6 617 bi76 ?2 Utah Copper. 66% US t6 t?%, va.-Car.Chem... 3?1% 17 37% 373% Tanadium. lme... 37 357 37 ,aj% Vivaudu. Ine... 776 74' 77 77% WabahbR. R.... 77% 7?6 7% 77, Wabash af. .... 90). 33 :036 10% Wh. & Lake Urie 976 976 9g6 9 West.Md...... 10 10 10 10 Westingheuse... 4476 44% 4416 "36 White OilCorp.. 25 z4*6 25 15 WhIte Meters... 3614 354 .84 39 WIlys'Overad. 64' 5 8 g3 Witaea pfd... % 8% e Werib.PPume,Ma. a9, %40 9 Woolworth....' llJ s 113 '1 .y H igh. Laow Cloue. Call money .. . ... . . .. a * SlasUp to 11ia.m. 18 aoon. 1 p.m. 3 p.m. ii*.ia Trea ry epw Dispealsbws Chan"e Gaea Laroei By Altments. Atletompt on January 1 of nere than 6810", of Treasury partil cates and further lieuidation of ca merstal loans are mainly. reppesble for the prinepal changes I the eon dution en January 21,of the no fe porting member baks. as shw ie the F a Reserve Board's ceaso dated statement. Purshases of the 0e1y Issued certifcates by ultiNto Ianvsters were unusually large, and thee were also the customary witX drawal of balanees by country corme spendents to pay for allotted ofr. tilestes. As a result reductions of 816,00, 000 in net demand 0sposits and $5,006.000 In time. deposits art shows, offet in part. however, by, SMON. i0: In the total 6overnment balances arried. Iteports of member banks in New York city show a similar de velopment for the week, via: Redue lions of 60.000A00 in demosd deposits and of $21,00.000 in time deposits, as against an increase of IG.07,,0 in Government deposits. . The banks report also an increase of about $65000.000 in their holdings o( Treasury certifcates, as against moderate additions to United States band and Victory note holdings, while their loaqs secured by United States Govoramept obliktions indicate a re duction of 1000.00 for the week. CeAANS 1S pW YORK CITY. At- the New York city banks an in crease of . $20,00.,0 in certilcate holdings is accompanied by a nomi nal Increase in Victory notes, a 2.,00*,SO decrease in United States bonds and an $11,000,000 reduction in loans on %Government securities. Investments -in corporate securities show a decrease of about $10,000,000 for all reporting banks and an in crease of $.00,60 for the New York city banks. Loans supported by corporate se curities show an increase of about $15,000,000. largely in New York City. while other (chiefy commercial) loans and discounts show a further liquida tion for the week of 550.000,000, of wilich the New York banks show $10, 000,000. Since January 7. when the item was shown for the Brst time. "other loans and discounts" of all reporting banks have fallep off $152, 000,000 and those of the "New York City banks about $23.000.000. Total loans and investments of all port ing institutions show vilrtuay no change as compared with January 14, while the New York banks show an increaos under -this head of nearly $15,000,000. GAIN IN TOTAL ACCOMMODATION. Total accommodation of the report ing banks at the Federal Reserve banks inco during the week from $1,S, 11,00000 to $1,034.000,000, or from 1.15 to 11.8 per cent of the banks' aggregate loans and invest ments. For the New York City banks increases in accommodation at the local Reserve bank from $719.000,000 to $794.000,000 and in the ratio of accommodation from 13.2 to 14.6 per cent are show'n. cor~usi W=w ELECT CLUOBRCERS The Congressional club, composed of the wives of the members of both houses of Congress, will elect officers ttay. A lively contest is expected, as it will be conducted along the lines of political polling. Mrs. Irvine l4 Lenroot, wife of Senator Lenroot, heads one ticket with the following candidates for vice presidencies: Mrs. Joseph F. Frelinghuysen, of New Jer sey: Mrs. Wallace H. White, of Maine: 'Mrs. Alban W. Barkley, of Kentucky: Mrs. Ladislas Lasaro. of Louisiana. and Mrs. Gordon Lee, of Georgia. The other ticket Includes: Mrs. Na thanial B. Dial, wife of Senator Dial. South Carolina, for'sresident: for vice presidents. Mrs. Perry E. Quinn, of Mississippi: Mrs. John E. Baker. of California: Mrs. James E. Watson. of Indiana: Mrs. Homer Hoch, of Kansas, and Mrs. Louis C. Crampton, of Michigan. The other candidates are: Record Ing secretary. Mrs. M. Clyde Kelly, of Pennsylvania: corresponding sec retary, Mrs. Lindley H. Madley. of Washingtoni- treasurer, Mrs. George M. Young. of North Dakota. DENTST SEEK PLACE IN U. S.SCHO0L SYSTEM CHICAGO. Ill.. Feb. 2.---Dentistry as a national pubbic serv ice, especial ly in schools, was urged at the fifty seventh annual convention of 5.000 dentists from all over the United States and Canada. here. Washing ton played a prominent part in the gathering. Dr. Bruce L. Taylor of Georgetown University held a clinic on "prophy laxis." and Dr. W. S. Benedict. of the same institution held a clinic on "Surgical Removal of Infected Teeth." tiixteen hundred public school teachers attended the meeting and clinic' on mouth hygiene. DEVELOPS LIVE STOCK TRADE IN SOUTH AMERICA As a' result of a trip to~ South America by representatives of the De partment of Agriculture in the inter est of marketing pure-bred live stock, contracts were established and a business was transac ted amounting to 8400.000, the Department an nounced today. The results of this trip have been so premising that it has been deemed advisable to keep a representative in South America, and arrangements are now under way by the Bureau of Markets for the establishment of a permanent office there. Prefer U. S. Brand of Hose. Because they are cheaper and of better qualiy thani the Japanese-made article, foreigners residing in Japan frequently purchase American slk hose, according to a report made to day to the Department of Commerce by Consul .'aldwell. According to his repori. there Is hut one firm manu facturing silk hosiery in Kobe, the cntera of stk manufacture being Yok~aman Tokyo. esaswa. AX BSAUUPM 4W PAYEDNY - T.' N.-w have savod op 91W. It ha. takes me twenty-snin years to do it. and itls all I have -to the way of property or molney. I sues you will think this 16 net a very god showing. But it was the bet that I could . do, as I could never mave more than a few dollars at a time. and good deal of the Use qas not able to save anything. The money is in bank at 4 per cent. and I want to invest it is somethiag that will pay 6 per cost. What do you think Af the 4 per cent honds amd by . W. Strauss & Co.? Answer-We thiak that you wiD Bad an Investment is these bonds en tirely safe. In the thirty-siss years that I. W. a Company have bees In business e invoestor with them has lost a dollar of principle W interest. Tour patient thrift is to be commnded. All too many men. working for small wages, wrongly think that small sums are not worth saving. and they go- along through life without accumulating anything at all. It they do start to save small amounts they are apt to grow imptiialt of the low accumulation pad think "what's the use?" Then they give it up. Your persistehe in well-doing Is a trait that might well be held up as an example to eneourage others simt iarly situated. TOLD TO -UY ATSCUEON 31#16WIAT S1TOCAL. W. X. -3-I have been told-jo buy Atchison'. Railway o'Mmols. I have dover seon it quoted in the newspapers. Why? Is Atchison Railway the same as Atchison Topeka & Santa Fe Railway? It so, why don't they call it by its right name? Is the stock a good buy? Answer-"Atchison" and Atchison, Topeka A Santa Fe are identical. It in always quoted in the stock lists under the latter title. In the stock market it in called "Atchison" for short, but if you were going to buy transportation from Chicago to San Francisco you would say. "Give me a ticket over the Santa Fe." In our opinien the stock is a kood buy" and one of the least speculative of all the rails. Bought 'at present level, the stock yields better than 7 per cent plus quite a good chance for profit. WANTS TO INVST p11.000 AT S PMR CEXT. B. K.-I have $1.000 which T de sire to invest in high grade in dustrial railroad or preferred stocks yielding 8 per cent, safety of prin cipal first consideration, enhance ment in value second consideration. Please give list of half a doen such stocks. Abswer-Rock Island Railway 7 per cent preferrbd, yielding 9% per cent: Bethlehem Steel 8 per cent' pre ferred, yielding 7.90 per cent; Vir CONGRESMA PRAIE POLES FOR PATS=TISM Crediting the Polish Club of Wash ington for the progress of Americani zation among Polish residents here, Congressman John C. Klecaksa ad dressed the club at a banquet in the Ebbitt 'Hotel last night. Congress man Klecaka told of receiving a cir cular written in Polish and signed by the "Executive Committee of the Soviets of America," but said he was positive it had not been written by Poles. Dr. M. Kwaplazewski, counselor to the Polish legation, praised Herbert Hoover for his work in feeding starv ing Polish women and children. B. A-. Kowalski and Stanley W. WInIosk9; officers of the club, also spoke. NOTE MSICWIlS PLAY FOR WOUD SOLD Tkree members of the Boston Sym phony Orchestra, Antonio Gerardi, violinist; Henric Fabrizio, 'cellist, and Ardun Frredler. pianist, entertained 1.100 soldiers at Walter Reed Hospital last night in the Red Cross hall. The musicians acquitted themselves cred itably before their military audience. After playing for the boys the mu sicians visited ware 71 and played to Arthur Craig, a soldier, half of whose face is shot away. Craig cannot be moved frohl his ward, and when the musician. heard of him they insisted on visiting him. PROVIDENCE HOITAL DENEFICIARY OF DANCE More than 300 couples attended the dance for the benefit of the Provi dence Hospital free dispensary last night in the ball room of the Raleigh Hotel. The dance was under the au spices of the ladies' auxiliary of the dispensary. The proceeds will be used for the improvement of equipment. Mrs. Samuel .T. Tucker was general chairman of the committee and the sub-chairmen were Mr. and Mire. C. W. Auginbadgh. Mr. and Mrs. M. .1. Ready and S. J. Tucker. African Bank Act Effective. The new currency and banking act of South Africa. providing for a central reserve bank, haes come into effect, according to a report made to day to the Department of Commerce by Vice Consui Pisar, at Caps Town. Simultaneously the 1Inion govern ment comimeniced the issuance of gold certificates which will he used here after in redeeming bank notes until such time when the premium on gold will disappear. adds the report. Tmw's Boys and Girls Are 100 P. C. Pare, Judge Declares MT. RtAINilit. Feb. . -IMmes sing the anti-mashing drive being put on in various cities and town. In the enuntry .Tuatice of the T'eseee Robert 1'. .loy'e of this place said today: "The men and womeni of M'. Inier a If0O per cent pure. There is no need for an antI-mash lng drive here. Mt. Rainier has no 'eabeeaterl.' It wiil not tolerate thou."* ISO "V gistalaa Cheatest S pe eM preferred yielding 4 per em. ?sI a Telephoe & Telogaeh pop czat; AtUi Caiw"pai yialeldg 6.10 per cost; 9 = 7 Oio preteeed, yleiding T.AO pe east. We de set say these steeka 0m "eSafte." Theke is no 6pr sa vestmeat that Is "sfe. As a mtUW of 1a. as iaveotmest wee vised-&et even a Governats that haas a right to camu itse1 We believe. however, that saw thee Stocks are oomprative o - W Oe and reasaably attrWOV -0 a Man who seeks 5 per eat tademe s o 'hig avested espital met %ie, ome. chanee " nd assum at the W& @possibility. FINANCIAL cosab --J *Wedesp i-IAIassefes The R. L. DeHlings Co.T Invest*mt Bankers .S8pervls scw, ven per cent I3 Eifteenth St. Frasikia 701 A REAL LIVEMWIEE SALESMAN To Take g argof IDistift Of Caumbia fou te SALE OF SECURITIES IN A HIGHLY RESPONSIBLE CORPORATION. Applicant must have had me. c0esfl stock selling experianem. Salary to start, 55,0 Me yoe a and cornmisdon. It you can qualify, write -for interview to CHAIN STORES CORPORATlON OF AMERICA, Box 33, Baltimore, Md. Dhyt. 3. ClIHKSff S U -11IBMf Bought, Sold, Quoted TIIOUAS W.IRAANYAO Investment seeurities 510-11 Evans Bulding W. ashimateu. D. C. Nla El. LOW PAR VALUE STOCKS Offera means for the profitable Investment of small amounts in well-managed and prosperous industrkal, oil and mining cor porations. We haiue prepared full partIcui lars of selected stocks, many of which ar dividend pa-.yers. have an active market. quoted daily, and now selling at near the record low pricf-s. Copy on request. . FREEMAN & SONS, gember . Y. Curb Association. ONe Wall i.Journal Dids., Now Ymk Unlisted Secuties Dought-8eM--Q....d Inquires invited Ffaiki, Usdbni a aSht Continental Treast Bldg. Phese mal 41M Your Investment Policy Costly lessons from the ozt perience of speculative investerl will Influence the policy 0 many investors for months to come. Men and women who have suffered surprisin g losses will be more and more Inclined to analyse and investigate the foundatIon and chatacter of the securities they are -invited to purchase. Conservatium will be a more domInant note In an ancial commitments. Such tendencies criate noiw streingth for the appeal of nur First Mortgage Notes on im p roved Washington real estate. These securities are lacked by Jand and property valuos whkh do not vanish In the face of fifi ancial depession and necessary luida~tion. Their income-bear - ing valuo Is one of the fewy con stant factors in a varying nAan cial world. SWARTZEL., RHEEM & HENSEY CO., 727 Fifteenth Street N.W. Washington, D. C. yke Nitlion's Home Tows. U%