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441 .. 4 -. * . . ~t. . *2 ~. ~ *~. N v " .;. een be. atiso teh s~ed to be a and I= indst VW& byb*. t It wait business revival S As the first stop he urged t mHe estimated ORdola sof current en which the roads could P 'sume work on the upkeep of ditional employment. "A further help to business rate," he sd, "but would we buy raw. material and mante the knowledge that they will i tion- cost; and that is what th awd they have not the funds t -n eado'uake mad--a---A Np-r. rko. n ha .upkeep-o. .ti mlkun vareous ajustments n rat whrther el o be unes rates er aid becbuse wh pu tae is not di thatt y pur tAIon cost, am thats whatloter pnly teyI'hentaont iauguratnd t The ra .iri ae made and t e Ffat wore e igbnfrelhl tbunEsxcTeyhaneglwn e e O of Creit IEWASam.CTON UMA s F t ess l I th S L The Future of Forty Stocks 1Te atinof the forty stocks 6i question has brought to yght th a direct bensl n g on thei future arket trend. Therefore, we have had a book SUai of thes stocl rig, in a chart coveringea ing PR. prkel suetuations MMnd pT aar * position. A Ie thees awsoteds. Ask for WT-77 . M. FllerI C0S Th ek uture of U. T. so r" St. S WToks eactio C o...t.e otysocs Iaousb hs brugh tovlgh fCtLrNArke trend. Therefoe wh he bago compted by 142--pleivngty roomy ftes aroges, flowers and gart ein OagpeNt p Dc uAtIYs as And help is No rel -th to N wi Low e=, the Ps the - t t id new constrst wok anld he passage t the funding bill hat from this soute. f to funds could be mde a y off eu t obgatio s and the roads, t ereby giving ad would unquwstinahy b.lown ask any manufaturer today to Aure and ad nw goods with lot realise their actuapodiC railroads ar regUdd to do, do it. pgneeme t.o rwhed beaw6 the employe, Rea 'uu that by order of the labor board the company "In effect, been directed to -anul disregard these leottom and agee ments, and to 'condaut with respect to new elections ti specially designated orgnisa==M&- the membership of which is msade up of some of its employes, and of very large numbers of employee of other railroad companies." Compliance with the onsr. he de. clared, would Involve abandoament of the method appr~ved by a majority of the PeunsylveL . employes and negotiations codU&d In the maner designated by the labor bureau for a new election would fal to acem. plish what the oempany has in view. An the ralroad oxeutivde who have been here, en4eavoring to seek doy. ernment assistance In solving their rate and labor problems, have returned to their home&, after having consulted with President Harding and Chairman Cummins of the.snate Committee on Interstate Commerce. The ful sembership of the Ranway Exeutives' atettbM will meet in Chl on October 14 to officially ate ad 4 a, uei tt~no of views and information obtained from their conferences with Adminis tion officials here. Inter-Reserve Borrowings.. Comparisons of Inter-reserve bor. rowings of Federal Reserve banks this month and a year age show a vast change in the condition of the coun try generally. The Ricr mond bank last week had contingent obligations on such bor. rowings of about $19,60.000, wheres inethe same week last year it owed $14,284.000. Richmond has felt the of bt of the Incrase In ootton = ll ' which to tions of $17,WU00 s $47,400,000 In the same week year. Atlanta's total obligation last year was nearly equal to the entire nter-reserve borrowings for the week this year. Dallas, which was the only other orrowing bank last week, owed $12, 000.000, as against $4,.00 last A year ago Cleveland was lending ;iearly as much as the entire out. standing loans at the present time. The" figures, according to Reserve bankers, mean that the whole coun try is readjusting itself to new condi tions along a pretty even line whereas last year readjustments had crippled part of the country, while the other parts had profited by it. John L. Fugitt, assistant treasurer of the American Becurity and Trust Company, Itas returned to his desk ~fter two weeks, whUe ,Charles D. Boyer. assistant cashier of the Fed oral National Bank, has left the city for a brief stay to rest up. - Washlasseu away Ineme. A net income of nearly $306,000 is shown by the Washinlgtonl tallway ad Electric Company for A so. e codigto its ,rert th the lublic Ut~itles This Is a spleadid ga er th le not. rceipts for July, whIch amoudied '.% a bit over $81,.00. New Yorkc Clearing House. NEW TO1UC, Oct. 11--ClearIng ouse met mt *ah~sEl4 00.0~aacl V MONEY TO LOAN a large amenate en dewate besg rt ea r~ lee e yue waat a CLARENCE F. WELCH 717144 Let 4 NW. Isesud Vlser QYK 5IY~IC SFUI Boudht, Sold, Quoted THOS. W. IRIINCO. Iavetm Bes setrtlee 510411 Ewana DRadhm= A. C. . s V "Wwened sa -be th- tatte 0490 The resslt et t*p Pam howed noft oeft OrM. r n iere tha the aai 0ahiba111 en And NW the I -Uh donce that the TageiaRa out a stiff struggi. A. 9, S4WWOL A. T. Utewart, . #5f Ameriam's gnt I t owners. god to selet " 4ry m rtat positions gumn who bed ke"r .e but who bad. rosoete 0he ring and proved that they had an abundance of backbone. Him theory was that the aan who has experiened nothing but success Oftgt wilt oempletely should estreme Ly hard times and adverity be en countered. And the veteran merobant well knew that It was just at eash timeS that he meet of all needed S elates who could wrestls manfully with difficulties. -As captain of a mercantil ship be didn't wat as 1e1 him fair weather salers er effieMs. Narme D. Qbesm. Whe Harvey D. Giem was asim ant to Beward Preeser. then president of the Liberty National Bank, of New York. evwrything wa arranged ts pr mote him to a vtce-preiden=cy. At the last moment H. P. Davison, a powerful director, requested that the planned proemadp bei held- up. Young Gibson baturelly was beenly disappointed. B"t when the bad noe wes beasie Mha by Preident Pv%* eer his reply was to this effect: "It Harry Davison dosn't want me to be a vioe-presedent of the TAberty Bank now I don't want to be a vice-pr'es dent. But the time will eme when be will want me to be a vlce-pre.Osnt." several months later Mr. DMavison asked Mr. Presser how Gibson wa doing. how he had borne up under his disappointment. Mr. Promer sold Mr. Davison what Gibson had said, and added that Gibson had, if anythlng. done even better work than ever be. Sc re. " i bt' remairked Mr. Davison, "'Ike hi, a vlce president now. We -It," him fbr so ery long, .W I - ~ws t9 me ju bole d up nudar r. d%t, but brieddent f the iberty Na, tional Bank. WhEnIinglu the Chaff. The business itorms of the last eighteen months have winnowed netich human chaff from human wheat The whiterdwAred fellows. many of them, have been separated from their Jobs. The asron fempable of acing &aid grappling with disoouragements have been held on to. If you shike a bushel of potatoes the eamal ones sink to the betten and the big potatoes come to the surface. Bo has it been with men in the buoine wrld. Anyone con get along tolerably well when everything I lg smoothly. But when a severe @%"e up occurs, then the men of real -aliber came to the front, and the lightweights fail back.. The sense 'rcs has been .at vmtassong irerent business con eighave progressd in flace of ee7obstacle . Othes have fallen snade .It my business to iavest te the why and whereder ot the . o--s.el results ahop by omn rgasations)j dungb Jes. telv noutha, and in ever - iE t' has dvledthat, Instead e. lng to adverse e, conditions as a ohal en e, u ressived to go after vio tory with .eveiny oune of their ent - ra wer. dd'toeheart. 'They dien't deefei n themnoeltes er hn the future. eywent to It haui== apttod s It it was clear that prices ' -M have te he out seee et 1ate o~ ut themn ?t away and aespaital oua o ir-tin beeto the W. - The Britsh armey bught s -ft had never ~ ut- belre when agsly cam. out wt the etatms to t trosthat they were Ita adfix andt. thy wvrs now fahhgwith ther .to the wall. Utee, the unpieadeted airlate tefa when the' slse rapg forth bA Vee dun, whoa defeat appeht'ed b n evitable, 'i'hey shall not pass Nearly eli ot us, busnde nmen ad wrkers, have been sobjecteedt t ly ~f A~l~neethis year Th er lbenatesting . flow have you come tmu it? detemnatio an fgt ipta yuhdbefore? Or have Wted? and refu ean to ehea t, Psr all whe do this better days are =SSI.Wu 3 C.sarbet 49s, ann 5 464 & . a Ieeg. Git =W~uo *M AmAx A.....,..... ms .: .......... . ...um.. ..... Il 4. ANA It t .e:.... 3 .UN Uft ad.a. ..... .. .. es. OmwselinaI. am 6 aesb I* of. n " c00. cis.. OW ft am Co. t...m. a a w .J c.... ~ I If INW t88 8 8 04 AM WA USx Op". a P.... mv -M Da.md M00. A NA. C. . 3aP...,ax aof a a a.Me& 3e1er..., a* sJ as % OWNS CLa s..... A m 9 A &p . a"... M I* fs t o& ew"... Is. V$ Ni n. Ch. "_ _ M .... 10 1$ A6 ow Ma7 aOssm. am am s x " Nor..... W ax 0 h Am". r ..rk.. " 0% ft 0 sep . NiM sM N ss Nds.... "m Ni ON UAW. a s u 14 aM ia -h.ar. ElM Wk 6 tp9. PsW... 4M JM 8%E lnybfgbgsI.. 1% S mIt EnsumsaC Co. *m lo Sri If Di4"m.a ... 3FP -F 16 ,V TOm-... aL aft 3 s nh *Se eT.*.*.... * 42 42 1h sas s. ...ee " 95 a na mu Ow- pt. ams 10' as. -UnL tI& VC Wu4 1616 're . T .... 4 49 4 '4h uepta Tims.. - d aid %f I Oas. ..p... 2M E 'UM Ih Ge. , A esri..., 1 66W 35 Gen. Masetr.... S 20 S LW igen. Meters pM. 44 SM W P in. oth pt.... 1516 'SM uk U G1. Nest. Ore.. MX 13g 6 MhJ ase.eua*3m*. 116 51ng Uk 311 HsR ...,1 Uk aS SM amar. 'me... 1%M~ 1M 'tat. OSa 3.... 6 6 6 1n. MasasLk. Sat Uk MM MM bnter. NiebeL... As '14 'N I later. lape.... '481 41k 41k 40 laaibsl On... M 11343 II gnaareSUS Co. RN MMW QM NW istanio.*aT..,a 851 316SMS bseI Tea .... 4 48 41 413 Jones Te...... S S U S ua aiy me... asM NM SM 296 Ka.'cltve. s. 51 51 -81 gelMg. T~se. 42 41 4 411, geseneThse... aiO4 1316 MM1 Icneseet ...... 2236 DIM 21 III 1aeha Steel..... 41 46k 48 41W gee a.h I... NW St M U206 LadhbVane... S P1..1WIsse -usw Gas.... 11a6MMi aM 1816 uas. S....s.. 68341f N ain i.m.i.. 431 4* 9W6 4 Mariis p..... 47k 4tM A9e ket.m 01~.... Uk 334 ,ns Dl bi.a . r. aA. a. NW Slgog l asepLs megS.. 06 SW th1 saLt Wese.... 1am 1*W JiM 10 M;. g.bT..... 1lE LW - 1 ss. 9a...... 36g sid Ik s W6. Ve esw..... 68 1% 40 W *1e. Uesen.... um 14 il Sa tas. aseit.. 1u 11t att ull N., Oak4 aS.. 113 17)4 IF Wa.a.&c.sii. 46 4a '4 ga. an.a .. -4036 40 46 4Li Sgbv. aen Ca.. u11 nM 111 & )e. T. OeisrL.., 1536 1lW N );. T. Deek.... seu se itt.~aa. 14k steg IMsW, K.s en psies.. 4SM 4 *bvhUa Ps... fr iwi M. Q. Y.Mes. S 8 4 okmiAr. Oa. . 3M S M8 oi, 3eeste... U 10 own ei s. 9664 Ilk Re3. O O'a. N 8%g 1*8M 88 $pamsm poet. L 4 46k14 485 p#a siet. 5.. 05 I4~ Wi e Sm eet.. 10 0g SM -e ~~s... Seg ass Ilks pv.MiaretteS.. Set USE3 aS1 IAditional V5liehi N. aI. . ls a - .. I.., . . s* . L ON 0 .60.14 0 ... a w aga AL. Alase . am Guk 4w . .. 4 1 oh 6s ... MM WW IL Uasm ans..8"s .N eua Vownan ....... . 0 - Wble. ... Ua Sg R 4bs.L .N N W2 Wt e .. sateg 20 UA ,A)" ... 0a -0 s .s0. wessinens "O.... 9% Ite ft eft ........ oo a eof 154.10 a 16 1-161I 3sam4o ces.ar u a e ............ 0 cai~ s . meo. m . u e e e ....... i . MA *nh O .......... 4 Is. Amam Bg " N.L...... 1 ..0a N6 gaksw...... 14 8 - men est33 to Rsta- . seenma. 146 .. Chown u... . 4 1a 1Ae. Sass nowao .......... S . l Do mi m 4 1........... ashmaaas Nun G..o.... 0.2 to 3o. 1.ea e.............. 0s 11 aus~e 0=. ............. s t .... 1 16 were"" a w .rsi....0. s "swest a . .es..... GAbk ........... a 10 Na ta 5.... 149 148 casse 7sfem.... 45 se 3s--ha Cimara . .1% 1 -ms a--Oi c ,. ... 3 nevsae Oaa ....... 1i 3' --aA-m On ...... * 4 nG~ar Rook W ....... 1s14* rasne. erlu ... 4 a ISuk Crn ..... 3 s lerretta ber ......... 16~ 1 -. Omt, ...... 1 4 OU te........ 55 9 1. e . ..... U Inter. ..a...... Eay~S -e Ga3S .... Lak ........ o Se bM ea G4...... Oh t ..*....... fl Hhp 4........... 3 3 M'.enen...3% 3 Migre ..... 4 5 Neuateisi .... 8 Mias..... 3 - O. ...... 14 t Ci~mdMe4..i...9 . .na . 0. -U ese 0.e amam ~ 1 ...... 1& .1 ...... 9 l t||i 'i:::: 1 . e S6... 6% 'F .. ...1 l's . .. s'stoo .. $LETT. eni. las 3MW G o*... N380 3 O*Ntas~m ...... 10 lot T"... 10 -- M= T=. .. . its .. ...... 2 18 eloet NVOO 12 ... 3 aLbank.. 4 18.. ..... Is .1 91"9 T~1 00OgPANT. 4% 115 .. rk... $. .. C. Ke..... is Wa*b. Lara . Te.... 366 MS := = Wa. . 12% ... -.:": g ::: .=....M ... Week. M u36slw ... Aser. live ras..... - M.gsa to as.... . I,=m ,,,a .4:::; :::-224 .t. .e.a it...... 7 i .. % ta .. 4an . Go"& %toCk~kesot.. . 4 e sM.,. c... . .. 'em. A aSt.. .. 11 4% ; W..s i Ote 7akt - , Poeo n Excharge. NE3W TO Ot .-@he VereIg l.*sr at $3.66. hemne t.e os.mes. ts 1.31% dr i as e 7.j1% hir ChgiU ke. Ae werei sett swr *. 3.es hr ceb5 a 3.T rChoeeb..' 3Delgbn were. estEanc lower to 7.11 Ser Cabl sad 7.56 sr chees. MatE. : ea. CGblse .10; V 38.68U; Swedes Eroasa 'Chse. tI.8; re--hr 25.45 Chiosge Grain Opening. cKucaaO. Oct. u1-wheat eeea. '% to %o hMgher; egr,. unebange0 est., l% to e~ Mgher~; grwbvtan, urn - ., .%@.2; May &A-D , 46%@%; Ma. 86, ui.4an., 3.0; Marec. 3. .Nw Yilk Cotton Market. a ~7.teay openin to priss tw totweaty-fivi to lower. There was quite gen * wppet; including Ivr ra enes.. wtsile New Orleana ocaterte al*0ouh freely, slers east were Wall pr folow:October, 180;Februea. $18.15; Rfarch 81.16 Ages,. $18.?: ,a 615.44. July, $18.05. Rate Per- Pay Cqqi~uy e. able mp ft...... 1q Q Nov. 0e . WhE..$ #Q Nov. Osrg. p..... I Q Oct. 1 0hg. . 1% 4 Nov. .ibrty Sorde. tt,5reSe4 og it. S. 3ita a . Prine at mesa: rU~ty3'o..............?. S ... ... .. . .' Col. Win Made Brigadier. (3,5. Frank Iesg Wan hae been pn' -ote to *tid of belgadier get rt. thO War eartement anonnefl * C o to - amO to su.w . .a.d., grsw , these ltereed are -tag earts to -1My along de to alw dd. e o t o ..n - led wnhtersa that any odlers Wel e mt to deben teamessa, Yet saw mlwas out e Oste 5., Prim .tereite in d u nerwlt t bturem in 1015, who have leaer ei .n ing depot 0f the -enled soart et Informal . Ipvited ~llt et alu ethers who nsdgh ~ to help out to attend. Yb. Idea was to discuss thep in ""i sad '"e'ait mnmIi Awarkmr Buer easterNs The teSeag that American win shortly announes new fi onu to alu out. An w recently stated "There Is. no Qeinunder Consideration cc whatsoever." ateent Is repeated by other ioterest-a *iess to the company, who a, however, that the directors may moot at ay thue And the question of feadongm be brought up. 'Ie company has had considerable diffculty in oollecting on several of its contracts. This, combined with the INVESTORS SERVICE Ms $UAW to Inmest for Awnt. F. ., Now Ter t see-Sine I am a persspt roadw of your repies to in w letters. I am taking the ] * ot asking your ad vko in on with an kvet se" Of A. This money belongs to my aunt. I have told her that she can get bands yielding from 7% per cent to en oe"t and yet be pe'factly Would it ke rummble to buy twety-flva $IMO Id all differ esat? What olpde of bonds would -" eg ? "1; eset the th, money for her, u awdpted the ,taser a Wy be sure no one Ia sthig pIZ* of one's own momey entails & grat enough respon Mb .but totoveat for someone els b bd~tmcrwm eus. and your preblem in ade msw complex when you se* lnvestment that will yield up tol pecet upa wubdeprac nIly safe if you Invested the fund in a list Including bon he grade munici :Pa aom lobs legal Investment rall read bonds. That would uhmplify matters. 1ut the best you can hope for in these securities Is a yield of approxf. maitely 6% per cent. Six per cent y1eld corporation bonds are not un. mssom; you migh contemplate % per ent return Without tnvittng danger, er even 7 per cent, but beyond this Mlt you court risk. The element of risk Is reduced by divernifoation. and we see no reason why you woutd not be able then t = as many different bonds am the g price is contatned in the am.tav.il.b.. We shud divie this money be. sween li dUstrial. utilities, mu nemapg1 government and and sugs uch 10 sues 4W M ytvanl" alo 616' Neuthera Pselne.wreat Nerthen v8 ' rat Nerthern Raway re, mfAamS Steel S's 8e. asfn Power 5 Ameries taeof New Yr French g Chs. T~f'd 4% per enat LA no "fneans is this list of bond of what teiny taent maket though we have endeavored to * ta highest yield bonds consistent Proma tive safety. thue would select at random every neof these honds, thought they woud mob ably adit tey reprseted thehi. Ayof t inlvemtmenht banking houses Is In position to edpply themn. Salt Creek Prod. Midwest Rfg. Bston-Wyoma Mbeuntain & Gul Th is aer Uind eop arel ageelgl pricas Our spec -ar diese mew auden dpIuww 21 SOUTH STRE &bnwhu um died - slrs t ad m a ew Ubeeman a be hM by, the Tese-900 sharoehed~as to eserse101 heoings a"d alsot its Own A nother. n ethed dicu1 b Texas Cee"any to 004 imd tod the turn It " 00uy Ieses wwne tao oa asedie dimbenuen to Amply to Seot'n +4. dev~eaot and ope.ttiof sulphur howias as a -04V Mit Partment of t4 Toss CeW The Rar7to lmee . A pecular feature of the WS street ain is that it appairty 4 see only Mne ee of the Pisegr.L-. This, of course, does not t the. leaders, who privately both .Mes, but pubiloy OprCeOny the one olde. The average trader, howel*W. 1 difteulty in -eensMerh' froma a agle.-. In aonnecten with the sIoad.' for instansce, he is unabes' Wep , lower tright rates will be * goat. help to general busine1, and -hat spbeequently they wil. be of WO' the roads themselves, aM tWO t . undoubtedly stinulati lIpunti. The lower eXPo prod4 also encourage bWM11eee4E lower prices. In OW nant tab wheel of progress Can again egIs turn.. m - EQUITABLA -oenn mae 41ST .aAR COIPLATED - A. ..................eseay s ra. ................1,0 aC t Systematic Sain Lehds -Make up year mind to jinD the Equitable ad sav eot pay day. That Is the way ,to get abead financially. slat issue of Stock 30106 119001W share. $2.50 Per nonth 4 Pr cam lateret EQUITABLE BUILDIN 915 F Street N. W. PRANK JP.! M -C P.WW*K Our Recor 48 Years of I. r..p..ibs splendid dANce with tern guaded ests Ahlef investa system have a-s