Newspapers / Wilmington Morning Star (Wilmington, … / Feb. 7, 1921, edition 1 / Page 7
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fHE MORNING STAR, WILMINGTON, N. C:, MONDAY, FEBRUARY 7, 1921. SEVEN' rCT- ill For Rent I CLASSIFIED ADVERTISING Tbe ratO IWI - - u 25 worn. - T ird l cent v ! u 'ae'rate or Classified Adver ..JemenU. set 1 6-polsU cap.. U S crt for 25 word., or tea, f .Inional a cent, pe ward fox eiTca insertion. Fiffwrc count. a Additional white space itto 1 la usuring the cost ot your it it count every word. ,',i.d ueure. liriaittuiice mailt cempBr ' lidvertlaeaBcata set 7P . ' ..Ke than -point will be puto ; 4niMtoel eoUuima. Sub-stations for reeeiytn Classified-Ada and Subscription ; located a. iollown- ad wlU recede such item. not later tha i. m. insertion the f el-. 'Jxh DRUG CO. FlftH -md La tie streets. thk faiku drug co. Sot- .Ltl, and Market Street. ' run PAINK UHUU co -uth f 183. VllH'S PHAKJUOY 914 N. fourth street. iiorniiiS Star re A or sale at (Jjtle lo- 3aiearid Female Keip Wanted r..NTj.-pA woman to serve as mother s helper in good home where and cook are employed. Salary Ln hut conditions pleasant. Apply 416 princess street. dh-tf OPPORTUNITY for cnoreTl men. Learn l0 be an automobile mechanic and hiuffeur. Special low rates uuw. Fachmond Automobile School, St JO 11 11 OUCCli Hiuuuvuu, .a,, 2-5-7tc NTKD Mother wnose nuspiuia is vtM during evenings oners fxchanse for a lady s com- room panionship Address "F. X." care Star. dh WANTED Young lady for general otticf work in wholesale house. One with knowledge of bookkeeping and stenography preferred. Apply in own handwriting stating experience. Ad .irp; "Oince Assistant," care Star. 1-29-tf. VB start jou in the candy Business at heme, small room, or anywhere; everything furnished; earn $30 weekly, up: men-women; experience unneces sarv; advertise candy. Send-self -ad.-divssed, stamped envelope for free par ticulars. Candymakers Co., 18th St, Philadelphia, Pa. -6-30t HOME work; $30.08 weekly up; experi ence unnecessary; everything furn ished; send self -addressed, stamped envelope for free particulars. Candy makers Co., 18th St., Philadelphia, Pa. .l--30t AGGENTS WANTED To sell the Star Puzzle; something, new in .puzzles. Sample lac. Write today. Something that will keep them guessing. -Star Puzzle Co., 211 41st St., Newport News, Va. l-16-30t WANTED Young man stenographer to work at Money Point, near Nor folk, Ya. Mail application to P.- O. J3ox. 57S, Norfolk, Va. 2-2-7tc WE WILL PAY a few good solicitors well to sell the only article of its kind in Wilmington. Live wires only. Apply to V. O. Box 1302. 2-3-tf WANTED Experienced stenographer for wholesale hardware business. t;ite experience and give reference. Ac'rtios-.' 1 O. Drawer S10, Wilmington, X. r. 2-6-3t Situations Wanted WANTED A position as band saw filer. 10 years' experience. Best of reference.":. Age 30; married. Address Filer, tare Star, Wilmington, N. S. .2-4-7t WANTED Ey refined young lady, po sition as assistant bookkeeper or tlf-rical work. Can give good refer oues. r. O. Box 1184, City. 2-6-3t YOUNG MARRIED MAN thoroughly experienced in grocery business de fires position at once. Best of refer-f-KV's furnished. W'hat have you to offer? Address Grocer, care Star. ' 2-6-2t u ANTED Position as chauffeur by young capable wtite driver. : Will foiisif!,.r driving delivery truck. Ad dress "driver." care Star. 2-6-7t l'KMALK stenographer-secretary de sires to change positions. Educa tion. 2 years college work. Box 1, care Ftftr. 2-5-7t For Rent FOR RENT 2013 Woolcott avenue, 5 rooms and bath, ope block from car J'np; very desirable location; $45.00 per inonth. fc.v. Moore Agency, 205 Jnneess St Telephone 332. 2-6-2t 1 1 tUK liLX-r Two partly furnished con--net-ting rooms, next to bath, with F'P.'rati front entrance; all- con- eiiienees. Phono 219R-W. anv timA Mondav. 2-6-tf Hoo.ms for rent, with board; steam Av- 110 Orange St ---- - . . v.. 11 in, i iivy,iu J. v VI ' r 2-2-6t 0R l:KST Two unfurnished rooms tight housekeeping. Apply 409 2-3-7t -""Hi, phone 612. FOR i ext Two furnished rooms 'for hosekeeping, to couple with '"H cmldren. 409 Nunn St., phone 612. . 2-3-7t 'iV'!' J,NT two furnished rooms for ''Sin housekeeping. Phone 2312, SlO r- l--'nt .St. 2-3-7t Ai-L GARAGE for rent. Two Blocks rom postofflce. Immediate nosses- Apply 'Garage," care Star, 2-4-tf-dh '"i furnished room with' all modern conveniences, also - table -'Mors desired. Phone 1040. 411 Wal r"1 Rtreet. 2-7-lt RENT Large ro'om.for .'-'.rent, aiT( ' n conveniences, steaih heat and uiione. Suital Suitable for erentlemen or references. Call 322 South Fifth venue. ,1-1 -It RENT 314 nr .,ii.r second floor. L. W l'hrrrr 4?ency' 206, Princess" St; Tele- P?Sh?E1iT""Tir0 Wished rooms for n housekeeping. Phone 2312. 510 South Front street 2-3-7t Real Estate cSro!T0n rlghtey!! avenue. m Place' a new 6 m hanga rs W,J t 6 COrner lot: 8mal cash pay mexit; balance six years. O. T Wal- CO--,o4oU Murchl.on Bank Bid., telephone 183. 2-6-2t r5 J E Larse house at 419 North imrd street; steam heat, thoroughly wr?,VFar8:e: on lare corner lot. with little expense can be made into several apartments. Small cash pay ment; balance like rent. O. T. Wal lace & Co., 4U Murchlson Bank Bids., telephone 183. 2-6-2t F HTE ' Purchaser for desirable beach lot if same can toe had at the right price. . O. T. Walla a- cn ai Murchlson Bank Buildine-. telethon.. 2--2t LESS THAN ONE Ml LiE from the city on the Castle Hayne road, we have a small farm and a five room cottage, barns,- etc. The entire property is con siderably less than 54.000. Ask us for particulars. Wright's Real Estate and Fire Insurance Agency. 2-1-tf FOR SALE That desirable property, No. 1511 South Fourth street, on car line, good location, reasonable price and ery attractive terms. Wright's Real Estate and Fire Insurance Agency. 2-1-tf FOR SALE Lot No. 9 Idlewilde, 70 ft. front Wrlghtsville road; 200 ft. deep. W. P. Fletcher, Real Estate. 2-6-2t Automobiles For Sale ifOR SALE One Dodge touring car in periect condition at a bargain. Ap ply 713 McRae' street Monday. "' 2-7-lt AUTO painting, topping, tops dressed. upnwsienng, zurniture repairing, wheelwright and blacksmith work. Prices right; work guaranteed. E. G. King. Front and Ann Sts. Phone 2241. f2-l-Jf FOR SALE 1920 Buick Six' 5 passen ger, 5 good tires, with bumpers and spot light, and full set of tools. Only 40. per cent down and balance in 10 months. Apply to M. A- Klnjj at Front and Ann streets. 2-1-tf Miscellaneous For Sale tu. y 1 uit ma(jiixm ek x e are prepared to furnish you with con veyor chains, sprockets, pulleys, shaft, hangers, friction and gear drives. Can sell you your conveyors complete. We are agents for the famous Keystone line of- Philadelphia. We sell, buy and repair machinery. LirTgo City Metal Works. Phone 314. 2-4-7tc SAVE MONEY OX TYPEWVV'BITKRS AND ADDING . - . MACHINES a Secondhand and rebuilt typewriters for sale at big savings. All makes. Royal, Remington, Underwood, L. C. Smith, Oliver, Hammond, Corona all guaran teed in perfect 'condition. Secondhand Burroughs, Dalton and American Adding Machines at big re duction 41 r - . ' See us before bujringr WILMINGTON TYPEWRITER & SUPPLY COMPANY 515 Murchlson Building 'Phone 22S3. 2-2-7t WOOD DELIVERED anywhere in city. Sawed and spilt pine. $2.50; mixed, $2.75; oak, $3. Phone 952-W. Yard Front street between Wright and Meares. Good loads, prompt deivery. 2-3-7t "WOOD FOR SALEt Cut clabs cut stove lengths, $2.25 delivered; cut binders, $2.50 delivered. Prompt de liveries. Chadbourn Bate Co., phone 611. 2-3-tf-c HAVE another carload long leaf pine with good deal of fat lightwjood In it.. It is going fast at $10.00 per cord, delivered. Single loads $2.75, deliver ed. Phone me your order. Irving Wood Yard, phone 2 344-J. 2-l-7t LOOK at me good; you may never see me again. Nice Singer machine, $15.00; New Home, $10.00. Guaranteed to sew perfectly or your money back. 109 South Front street. Phone 1909. 2-l-7t QUALITY AND SERVICE go with our coal and wood. A trial order will convince you of the merits of our fuel. Becker. Coal & Builders Supply Co. - 'Phone 2321-W 2-2-7t Lost and Found LOST Hamilton wrist watch. En graved, 'Via" Carolina car, second street to Market, or on Front to Princess. Reward, can pnone ZZ03-J. Z-7-1E" $50.00 REWARD $50.00 For the arrest and conviction of the persons or per Roti who stole my buggy, harness and shaves off: my premises the night of Feb. 2, 1921. O. T. Stokes.-Sloan, N. C. THE COLORED person wno iook -hlcvcla from the front porch of zis TMortH Twelfth street at 4 a. m. Surt- dav has been positivsdy identified and will fliVoid - prosecution oy returning aarriA St. OTlCe. LOST Small black and tan dog an . Hwerine name "Boy." Notify Mrs. A. F. Laupp, city 2-7-lt LOST Saturday night between Harnett street and Union station, pocKet book containing S. A. L. and A. C. It. nasses. Finder please return to 305 wni-net. street, or call telephone No, iftT. and receive reward. 2-7-lt Miscellaneous For Sale AT- BARGAIN PRICES Scuppernong grapes, shrubs, boxwood, sycamores, etc E. L Tinge Castle Hayne, N. C Five Mile Post,, Castle Hayne Road, i . l-3f-7tf $500 00 REWARD F.or arrest and conviction of any one that caB prove w ever sold any alr-drled lumber and called tt or said It wii atgood u kiln-ji-tA vniir flooring and ceiling will never, shrink :lf you get it from Molyer Lumber Co.. corner V. t..i.f:'.ftholl 1555-W. . l-30-7tT Miscellaneous For Sale FOR SALE Two Walker hounds, 3 years old, well trained for foxes and deer, .Very fast, Writ to Roy Noring, Phoenix, N. C.,-for Information. 2-2-7t Wodfi-WOOD! Best split dry wood delivered 13.60, one-fourth to the load; goqddry pine $2.75, delivered; mixed, hard " wood, delivered, 52.75. Call 'phone- 372-J.; A. . J;' Blanton "Wood Yard. ' 2-2-7t WOOD! WOODKWOOD! For nice Dine or oak wood, big' loads and auick delivery,, call phone 940-J. Williams' Wood Yard. 2-2-30t WOOD mantels and. grates. New stock -has arrived at reduced prices. J. F. MeYey, ,224 South Front St. 2-6-2t FpRDSON TRACTOR saw mill with 36-lnch Simon saw., 60 ft, drive, belt ing and everything complete, for work, for sale reasonable. Bought new last September and is same as new as has cut only 100,000 feet. A good Fordson will turn out three to five M. feet per day. - Made by Brown-Grier Iron Works, Elkin, N.' C," especially for Fordson, but any power'-is all right. F. F. Dickson, Council, N. C. 2-6-2t WOOD More wood and better Wood. Ask us for prices. We cut and split ltT We keep it dry under shed. Call A. S. Kirby, phone 1958-W. 2-6-6t FIRE! FIRES FIRE! Melver Lumber Co. set fire to the high prices of lumber and it is still burning. Give us a call and help keep the blaze going. We are saving others money, why not you? Phone 1555-W, corner Sixth and Campbell streets. l-30-7t WOOD, WOOD Nice cut pine, 2.75; nic cut oak, $3.25; good hard wood, $3.00; dry slab wood, $2.75. Good loads and prompt service. Call phones 1985 and 186&-W. McCoy and Son. Wood Supply Co. 2-1-tf FOR SALE Three-story store building, "with elevator. No. 18 Market St. Apply Meares Harriss. 12 Princess St. 2-1-tf TYPEWRITER REPAIR SERVICE ALL MAKES Satisfaction guaranteed on any type writer, repaired. Our service man is familiar with ail machines. One trial will convince" you : that we give the best repair service in town. Wilming ton Typewriter & Supply Company, 515 Murchlson Building, Phone 2283. 1-23-301 IT'S NOT WHAT YOU MAKE, but what you save that counts. The Building and Loan is the surest way. Get your shares in our new series, opening Sat urday. February 5. Orton Building and Loan Association, office James & James. Inc. 1-30-tf ADVERTISING I THE BEST reminder to your neighbor for good service. THE ' LETTER SHOP GUARANTEES satisfactory work; in HULTIGRAPH1NG & STENOGRAPHY Letter and postals completed and mailed. 411 Southern IS ids 'phone 2234. 2-1-tf "HONEY" Bread, as large as the largest; much better than all and only luc Save the wrappers and see the shows. Farris Bakery. l-18tf BABY carriage for sale; cheap. Apply 506 South Sixth St. 1-27-tf. COMPARE "Honey" Bread with others. Weigh it; try it; taste it, and you will buy it. Save the' wrappers and go to the Grand and Bijou free. Farris Bakery. l-18tf PLUMBING and Heating Have your plumbing and beating, both new and repairs, ' don" by reliable workmen. Every job doii? by us is a value, some times a bargain. R. R. Benson, phone 2338. 2-1-tf HORSE IN GOOD sound condition for sale cheap, also heavy top wagon. For a real bargain call 1038 or write C. R. Caps, 7th and Chestnut, city. .2-7-21 FOR SALE Dining room furniture, .also two stoves' cheap. 312 Chestnut street. , 2-7-lt FOR SALE At reasonable prices a new Columbia grafonala, records, 22- yards new linoleum inlaid, 1 Wicker go-cart, 1 high chair, childs; 2 trunks, steamer; and several other household furnishings. Call No. 6 Northern Boulevard, Sunset Park, 3rd houre from main gate. 2-7-lt FOR SALE Fresh milk cows. Davis stables Saturday. Reasonable prices. 2-7-ltc WOOD! WOOD! WOOD! For nice pine or oak wood, big loads and quick delivery, call phone 940-J, Williams' Wood Yard. 2-1-tf ANOTHER LOT of Unredeemed Watches One Walthan,.17-Jewel, 20 year .case; ticket No. 7954, price $16 50; one Howard, 19-jewel, 25-year case, ticket No. 2636, price $34.50; one Elgin hunting, 20-year case, 7-jewel, ticket No. 1326, price $18.50; one Howard 17 jewel, 25-year case, ticket No. 3482 J price $33.6U; one nammon, zi-jcwei, 20-year case, adjusted to 5 positions, ticket No. 4536, price $34.50; one Illi nois Bun Special, . 21-jewel, 20-year case,-adjusted to 6 positions, ticket No R246. price $34.75. Call at Charles i Finkelsteln's, 6 S. Front St. Phone 4542. Z-l-tr HEMSTITCHING ana pecotlng done promptly. Work guaranteed. I?rice per 7 yard 12 1-2 cts. Mail orders so licited. Mrs. J. C. Lewis, third floor, Belk-Williams Store. 2-l-7t SUNKIST FRUIT STAND CORNER FRONT AND DOCK STREETS, OR ANGES. TANGERENES, GRAPE FRUIT.BANANNAS, FRESH FRUIT AND VEGETABLES. LOWEST PRICES CONSISTENT WITH QUALITY WATCH SATURDAY'S SPECIALS. 2-4-5t WOOD! WOOD!! MUST BE SOLD AND . MY LINE IS GOING FOR $2.50- DE LIVE RED, OAK, $3.00 AND ITS DRY, PHONE 849. WILLIAMS 2-4-5t noaa-A pair of well bred opossum , and coon hounds, rabbitproof, good trailers, good" grade and BO better tree dogs anywhere than they are, 4 years Old, male and female. .Price J& apiece; also a pair of No. 1 rabbit BeagleB, male and female, 3 1-2 years old; can't be beat for rabbit. Price for one, $20; pair for $35; guarantee dogs to be as described. Address R. . C. - Hubbard, Winston-Salem. N. C-BOX 1806. 2-6-5t Announcements FOR SALE Handsome ten piece din ing room suit; one ivory, bed room suit; also velour living room suit; all elegant Quality and in perfect condi tion. On account of leaving city for one year, will sell at sacrifice. Will accept Liberty bonds in payment. Mrs. Abe Einstein 709 Princess St. 2-6-3t FLOORS LAID, scraped and finished; old floors scraped at attractive prices ,A card will bring M. L Broth ers, 709 Dawson St. Call phone 1995 W between 8 a. m. and 6 p. m. 2rl-tf. YOU are missing, a lot of information by not reading the Literary Digest each week. Gordon Bros., news deal ers, 27 Princess St. Phone 7,45. 2-1-tf NO MATTER what the trip whether vacation, honeymoon or business see our line of Indestructo and Hartman Trunks and full line of Handbags and Suitcases at the right prices Charles Finkelstein, Front and Market. Phone 642. 2-1-tf LITTLE JOE Electric Shoe Repairing. 113 1-2 S. Front- All goods sent for and returned. Special attention to par cel post orders. Phone 203. 2-1-tf R. R. BENSON Plumbing and Heating Gas Fitting and Water Heaters, 212 Princess street, phone 2338. 2-1-tf DO YOU NEED MONEY? If so, re member that the Equitable Life In surance Society of New York City has many thousands to lend. Ask us to explain tSie Homo Purchase Plan. James & James, Inc.. shone 163. 1-30-tf THE RPAD TO WEALTH is a long one. but you get there much faster if you have Building and Loan stock. Make a beginning now. Get your shar3 any day this week. Orton Building and Loan Association, Southern Bldg. 1-30-tf REMEMBER THE DATE, Saturday, February 5th, our new series starts. Get your stock any day this week. Or ton Building and Loan Association, of fice James & James, Inc., Southern Bldg. 1-80-tf GRAND AND BIJOU free for 20 Honey Bread wrappers. Save the wrappers. Farris Bakery. 1-18-tf STAR SERVICE SUB-STATIONS Payne's Drug Store, Fifth and R3 Cross streets. ..... x Payne's Drug Store, Seventeenth gjid Market streets. Hali's Drug Store,- Fifth and Castle streets. Smith's Drue Store, 911 " N. Fourth street. STAR SERVICE" Give your STAR ads. subscriptions and buy your FAVORITE paper, "THE STAR." at the NEAREST "STAR" sub stationas listed above. 12-24;tf SPECIAL TO LADIES We accordion ulait, knife, box and side plait, also flute ruffles and hemstitch. Mail orders given special attention. J. B. Bruton, Lumberton. N. C. 2-4-16t WOOD If you haven't bought any of our oak and ash, try a load. Town Creek Wood Yard; 1016-J; $2.90, de livered. l-5-3t NOTICE The annual stockholders meeting of the Home Building and Loan Association will be held at the office, 103 Chestnut street, Thursday, February 10, 1921, at 8:00 o'clock. All stockholders requested to be present. W. P. Fletcher, secretary. 2-5-7t TO OUR FRIENDS AND CUSTOMERS: We are now located at Front and Grace streets and are giving up-to- date service under the some old Front street's Yarborough Barber Shop. Let us continue our service on you. 2-l-7t WANTED To repair, buy and sell, and exchange motors, generators, ama- tures, transformers. Charlotte Electric Repair Company, Charlotte, N. C. 2-l-4-7-13-16-19-22-25-27-9t CAR FINE NEW YORK HAND PICKED APPLES, AT A. C. L. FREIGHT DEPOT, 50c PER PECK. COME AND 6ET A PECK, BUSHEL OR BARREL. 2-5-3t MULTIGRAPH CIRCULARS and FACSIMILE LETTERS when properly executed afford most beneficial resillta. That's the only kind we furnish just like typewriting. Our printing is unsurpassed. Make us prove it Harriss Printing & Adv. Co. WANTED All men that use a safety razor to know we sharpen any make safety razor blajdes. Every blade hair tested. Work guaranteed. Dou ble edge 4 cents, single .edge 3 cents. Mail orders saecial attention. Coin, check or stamps accepted. Mail us your blades. Grisson- Drug Store, Greensboro, N. C. 2-6-13-2t INCOME TAX -returns. I will be in Wilmington for week beginning February 14th. Any one desirous of consultation or assistance in the cor rect preparation of tax returns can communicate with me at Wilson, N. C. or phone ISO in Wilmington. Engage ments by previous appointment only. Thos. D. Meares, Jr. (Formerly Field Auditor Federal Income Tax Returns.) 2-7-2tc INDE PENDANT Rogers and Styson general contractors. Estimations furnished on any amount of work without obligation on your part. Phone 1756-4 for pfe war prices. Independent: 2-7-lt Wanted To Rent APARTMENT, furnished or unfurnish ed, in Carolina apartments; either immediately or witlwn next 60 days. Address X Y Z. 2-3-4t WANTED To rent, two furnished light housekeeping rooms by couple without children. Box 705. 2-6-2t WANTED To rent, a six, seven - or eight-room house in good location by refined family. Can furnish excellent references. P. O. Box 984. 2-6-2t WANTED Three, four or five rooms or cottage, by couple, preferably northern side Market street. No chil dren. Address "R," care Star, or phone 2041-J. 2-6-2t Wanted- Miscellaneous WANTED To ' repair, buy, sell and exchange motors; generators, arma tures, "transformers. Charlotte Electric Repair Co., Charlotte, N. C. 2-1-9 tc CITY ELECTRIC CO. 20U Princess St. . Phone 995 ' APPLIANCES t MAZDA LAMPS WIRING J SUPPLIES Today smess Inventories and Taxes , the use of public funds to promote The importance of setting aside trading with the. enemy. That this re from book profits in a time of rising striction will greatly hamper what prices a reserve fund to cover losses ever usefulness the war finance cor- irom aeiiation when the business cycle reaches the downward swing, has been , irequentiy emphasized In this column. 1 In businesses in which it is necessary , to have constantly on. hand large ; financing exports of cotton to Ger quantities of raw materials or finished i many. products substantial book profits can! r t. be., shown in a period of advancing prices through the enhanced replace ment value of these comm6dities. When prices begin to recede sucn nfifo m V, 11,. ,; 7 - o v. it 1 v in a few months. The losses may be 1 XrSir '. 7 . i . i-l 0 profits, but the interests of stockhold-I direot correlation betWeen the volume'?,?"0" ne?1 ye" woul sPe" financial ers may be materially affected by such .; of a crop aml its ice Decom-es very 1 disaster for the south. She related fluctuations. Two methods of avoid- . pertinent. If ' the purchasing power sorne .of .her experiences as a country ing suoh consequences have been em-:.of m0ney remained constant prices ' SGnodI teacher and told of the deplor ployed by conservatively managed would rise when c rops were "small and able livinS conditions and . Illiteracy corporations. One of these is to set fan wnen they Were large But since often found among the cotton farmers aside from the profits of fat years a the purchasing' power of money flue- I ot this state. - She attributed this to sufficient reserve to maintain the in- tuates in the business .cycle, the price -over-production , of cotton. tegnty of the inventories when -the of farm products depends on many ' lean years come. Another method is other factors than volume of produc-i ! SENDS "MtBDEB" COMMITTEE ia,oC nycuwxivo price level, thus eliminating- paper profits, and losses from the Inflation and deflation that seem inevitable ac- companiments of modern business. , The treasury department, however, does not permit this method of valu- aill'u 4c uwca aic.vumui.w, 4 t.aininer that t'h law reniiiri.a inven-1 . . . tones to be -based on either original cost -or presenL va. making ui i have no discretion, but it is being urg ed that the law should be amended so as to encourage rather than prevent the jadop tion of such ;sou'od business practices. The Edge Ttiaw Corporations The Federal International Banking corporation, recently; organized "at New Orleans under the Edge law with a capital of $7,000,000, reports that it has already received applications for more than $17;500,000 in loans to fa cilitate exports from southern ports. The chief commodities which it is pro posed to export through this agency are cotton, lumber, naval stores and rice. The bank now has one-fourth of its authorized capital in hand, or $1,750,000, and as it may make loans to tep times this amount, the full quota has already been applied for. As additional subscription payments are made by the 1,300 member banks the loanst for exports can be increas ed. Final' authorization from the fed eral reserve board for the operation of this bank is still pending. The board, however, has already approved the plans for the Foreign Trade financing corporation, another Edge law bank, which is being organized with . a capital stock of $100,000,000. Meanwhile the'war finance corporation, revived by congress - over the Presi- dent's veto, has made no loans, but its director announces that it has receiv- the continuance or the price recession ed inquiries with regard , to about 25 rates will eventually tend to fall, and different commodities. This crganiza- those who have borrowed on short tion may finance no shipments to ! term obligations will be able-to renew Germany, for the reason that a tech- nical state of war still exists between that country and the United States, and this government will not permit Savings Bank and Private Investment'! For years experienced investors pro ceeded on the assumption that any railroad bond good enough to meet the legal requirements for savings bank investiment in this state was. safe enough for private investment. The New York banking law laid down a set of rules to which bonds would have lo conform, and it did so, not of course for the guidance of private investors, but for the protection of persons who were willing to take compound inters est on their savings and allow their bank to do the investing. It was stipulated that a bond was legal for savings bank investment only if the issuing rpad had met all the matured Interest and principal of its funded debt punctually during the five years next preceeding such investment; if, in addition, the company, had paid at least 4 per cent dividends regulaXy and punctually on its outstandin capital slock in each year of the five year period; and, further, if during each of those five years gross earn-. Ings were at least five times the amount necessary to pay the interest due on the entire outstanding in debtedness and rentals for all leased lines. Xo Lrfmrer a Sere ' Guide In normal times these regulations gave' the savings banks a stable list j of bonds from wnicn to cnoose. in cidentally, the investor was given a good guide to conservative securities. If a railroad had one poor year in which it- was unable to jneet its div idend requirements or return gross earnings five tiroes the funded debt interest requirements, its bonds were not available for sayings banks dur ing the' suceecling five years, or until it had ffone through five consecutive years -without violating any of the requirements. "It is questionable , now whether the old rule of legal invest- ments oemg suuu imvaw luvrajmicuto, can be followed' with safety. Tho, savings banks woud have a much j reduced list of bonds to choose from j today if the old banking law were strictly carried out. But an amend ment to the law was passed in .1319 whereby the requirements as to earn- I ings and dividends were suspended , .as j to the period ot government control and the two years after expiration of nontrol. The theory of this' amend ment, was that the investment posi- j tlons of railroad bonds were protected; by the government compensation even ! if earnings did not come up to rc- quiremefits. In consequence of tthis : amendment the list of bonds in which savings banks many Invest contains no smsnl number of issues yielding In i excess f, 7 per cent, in some cases; as high as 9 per cent, while . really j sound railroad issues which ; actually j meet the requirements are yielding from 5 to 6 per cent. The point of ail ; this discussion is that legislation can- I not make a bond safe. It' can give the savings Banks a wider scope, but at the same time makes the use of, discrimination more 'necessary than ever before. As far as the individual investor is' concerned, the fact that a bond is legal . for saviors bank in vestment no longer designates ,jt as a safe issue. The public must katso use am unusual ; amount of discrimination. A, Few Baltimore & Ohio Issues Some typical examples of how. an investor seeklhs high-grade railroad, investments may be deceived if he con-'-, tinues .to .use sayings hank legality, as a standard are; found, in the Baltimore St; Ohio railroad's ist of bonds. None, 1'Iie ' Investor Merchant's Prob lems and Current Trade Conditions porat.on mav have had is shown hv the fact that most of the applications : for loans received bv the Edee law bank at New Orleans have been for ; In view of the plans being formu lated in this country to reduce the acreage of cotton this year and of the I decrees of the Egyptian government . . "O'l'""" limiting the area of each estate cul- tivated in cotton to a third of the to- tal, the question whether there is any tioIli Figures of production and of the average value of twelve principal ! farm crops, for various years . show ! the am0ufit flf -yield and the value I Por examr)lef in jgoo the production nf tnK t,reins wasf 7 ...f tlum. in 196, but the average : prices ' . . m. . . . were do per cent ntgneri inis is aue to the faQ. that in 1SS prices were at their lowest ebb in a cycle of depres sion, whereas in 1900 business had taken an upward, swing. For ihe same reason, although production was 54 per cent greater in 1919 than in 1901, prices were 169 per cent higher. On the other hand, while the yield of these cropsJn 1920 was 4.9 per cent greater than in 1919, their average prices were 43 per cent le'ss. In view of the large carry-over of cotton a re duction of acreage may be expedient, but past experience shows that cur rent price levels of all commodities is after all the important factor in de termining, what the farmer is, to re ceive. Borrowing During Deflation "From now on," says an economist, "so long as the dollar continues to ap preciate in value, it is going to be harder to pay debts and taxes. A business concern, therefore, should, if possible, pay off its debts before the dollar increases still further in pur chasing, power. For the same reason lt should be cautious about borrowing now, as it may have to return dollars of greater purchasing power than lt received. As there are prospects of the dollar gaining enhanced exchange value through a rather .prolonged pe riod, it appears to be advisable to borrow on short maturities. This is especially to be recommended while 1 interest rates still remain high. With 1 or refund their loans at a lower rate than is at ' present obtainable.' (Copyright 1921, by New York Evening Post, Inc.) His Present Opportunities and Problems of "this road's securities would be eligible for savings bank investment except for the amendment referred to, because the company paid no divi dends on its common stock last year. Its prior lien 3 l-2s, due in 1925, are selling to yield 8.1 pe"r cent; the convertible- 4 l-2s, due 1933, to yield 8.S per cent; the refunding 5s, due 1995, to yield -7 per cent; the Pittsburgh, Lake Erie & West Virginia 4s, due 1941, to yield 1.2 per cent, and thtj 4s, due in 1948. to yield 6.55 per cent. These yields are to maturity. All the bonds mentioned are legal investments for savings banks. High-Yielding St. Paul Bonds Chicago, Milwaukee & St.- Paul rail- ( Way bonds would not be eligible for j savings banks if it were not for "the suspension of requirements.' It Is not I paying dividends on eithec its pre-. ferred Or common stocks. Yet the fol lowing high-yielding bonds are legal Investments: Debenture 4s, due 1934, yielding about 9 per cent; convertible 4.1-2s, due 1932, yielding 8.75 per cent refunding 4 l-2s and 5s, due 2014, yield ing 7 per cent, and Chicago, Milwau- kee & Puget Sound 4s, due 1949, yield-; ing ,6.65 per cent. The St. Paul sys tem's general mortgage- bonds ara selling . to -yield around 5.75 per cent. But it should be noted that the gen era! 4s sold on a 4.15 per cent basis and the refunding 4 l-2s on a 4.55 per cent basis in 1917. They are both long-term issues, and something must have affected the investment position of the refunding 4 l-2s to make them yield 7 per cent, while the general 4s dropped only to a 5.75 per cent basis. - ,- '' ' (Copyright,- 1921, by N. Y. Evening : Postf, Inc.) " The first school :n America was es tablished near Boston in 1636. Stiff Joints Sore Muscles Smoothed Out By Hamlin Wizard Oil Soreness and stiffness resulting ' from unacenstomed use of muscles . or too., much exercise, such a9 ten nis, baseball, golf, hand-ball, etc, give way quickly to the soothing r effect of Hamlin's Wizard Oil. It . penetrates fast, drjyes out the sore- ; ness, and limbers up .stiff, aching ! joints and muscles. Hamlin's Wizard Oil Is a good depend- . able preparation to have la tbe medicine ! chest for first aid and when tbe doctor may be- far away. It is an absolutely reliable antiseptic application for cuts, burns, - -bites and stings. Sprains and bruises - heal rapidly under" its soothing, penetrating qualities!. . JtCeep, it on band., Generous sise bottle SEc, If you are "troubled with constipation er sick headache try Hamlin's wizard Liver Whips. Just pleasant little pink pllU at druggists for JOa. , W. L DOUGLAS T1 , tv H u rwitz o : 605 North Fourth St. E W, L: DOUGLAS , CUT COTTON A THIRD Marlon COantr Farmers 1 Will Reduction Campaign Join - (Special to The Star) MARION, S. C, Feb. 6. A motlort indorsing the reduction of cotton acre age In Marion county to one-third the land cultivated, was passed at, the meetlng of the .farmers held In the courthouse Saturday morning after Miss Lois ;Erwin, of the cotton associ ation had made a convincing speech On. the subject and R-J Blackwell, county chairman, had strongly - urged the ac Hon. Due to the failure of the cotton re- duction plederes to arrive from the Co lumbia office, the farmers present were not able to sign them at that time, but it was agreed that committees would take around the .pledges as soon as they arrived so that the farmers might sign them. . Miss Erwin brought otit by the use of statistics prepared by experts.. on cotton marketing that a larfce crop of mx, y, u-.o. ivv- ui..muaiui.Mu uiiiv- tee of three, one of whom Is a negro, to Worth county to determine .whether or not lt ls safe for Maca Giddens, a nero tq be returned to Georgia to tand - trial-on a charge of the mur- uer 01 eputjr-oneriu; v. tr. uiuaens. A Great MetiicSne Mrs. M. J. Rlloy. It. E. Ko. 1. Box 101. Cal vert, Texas, wrltea: I have need Pe-ro-na and know It tt mod for coMb, coughs and catarrh. .1 cured my cetarrb and I do cot take cold when I use Pe-ru-na. It is a great medicine." . Curing the last fifty years, Pe-ru-na has been looked upon as the reliable medicine for catarrh, of every description, whether lt be of the nose and throat, stomach, bowels or other ergans. By keeping Pe-ru-na In the house for emer gencies, serious sickness may frequently be prevented. Dse lt after the grip or Spanish Flu. Szld Everywhere What Do You Tbink Ot ThlsT AN IVEH-JOIINSON 2HCYCLI3 For Your Boy or Girl! QUEEN CITY CYCLE CO. ZO Market Street TELKPIIONK 802 Your Boy Wants A CROWN MOTO-BIKE Cash or Weekly Payments Wilminglpn Cycle Co, 215 Market Street Phone 526 FOR SALE 200 sacks Portland ce ment, per sack 50 sacks builders' lime, per bag' SI. 00 60o Two second-hand Elevators, about 1,500-pound capacity, for less than one-third of their cost. Plenty of Burt Seed Oats and Seed Rye x D.L: GORE COMPANY Wilmington, N. C. COAL THAT IS ALL COAL TRY US! Becker Coal and Builders' - Supply Company Telephone 2321-W Catle, Queen nnd Surry Streets iiP Tablets 1 Wg3 -lipid' rt-KU-NA i. 1 1 t - '. - .N.
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 7, 1921, edition 1
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