davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1919-04-22
WALL ST. MARKET

NEW YORK. April 22.-The stock
market opened irregular today with
United States Steel starting at 99A F.,
off Is; Baldwin Locomotive opened at
81. up Il; Bethlehem "B" 1915, off z
Southern Pacific. 1865. up Il. and
United States Rubber, SSSs, off Is.
The Washington times., 1919-04-22
DEATHS

1879. at his residence 228 streer
southeast, ARTHUR r. n MIDDLETOS
son Of the late Resr Admiral Edwa I'd
Middleton, L. :. y. and Mrs NiddIeton
Relatives and friends are inyitad IN
the funeral services At st. Marks Churc,
Third and 4 streets southeast on Thurs.
day AZ o'clock. lnterment private
tNew York, Philadelphia and Bostop
papers please copyD 23'
The Washington times., 1919-04-22
TOday's Market Hints

Prepared by the Bureau Of Markets. u q
Department. ot AgTieultures
potatoes. turnips. lena
Ona. kale.
NORlGAL,-Onions. ORANGES. srapefruit,
bananas tomatoes. lettuce. radishee. CAB
bage, rhuburb.
sCARCE--SWeet potatoes. peppers ,cuenm-
bers. strawberries. appieh. aspara gus csI-
cry, paFSnips. spinach. /, -. N.t"t
The Washington times., 1919-04-22
Births, RarrlageS, Deaths
Notices May Be PhOred Until Nam $780, Branch

he held until retired in September.
19lI.
The Washington times., 1919-04-22

s FAIR priee
-aN 20 consumed
Produce. Grade. Ete. today
BBANs-F1a, best. at........s f1zG9s
CABBAGE-Best. ID ......s...... to-15o
-kAkE-LOcal best. PIX. j, ~ l9-e3e
LErTUCE-Cal., medium. head - 1900
Do, local, medium. head. 800. - lo-tee
ONIONS-TellOw. best. = PIX, 25-8le
Do, spring. bunched. 3 bunches. Tee
POrATOES-NO. I Western. PIX 81, 45-aoe
Do, No, ] local, pk.. ...s.s st,sek8I a5-f39 2
SPINACH-Local, pk.s...-.... ~. 9ll-10c;
TOMATOES-F'Ia., 10 81. .,..'. -. Is la-3.ig
KHUT.ARB-Buuch ............ = -
FRUITS.
APPLEs-First Grades
Aibemarls Pipplns-Best pk.s.Ss. 3S-tjF
Ben Davis-Best, L PIX. - 3. 23-3oe
GRAPEFRUTT-(64 & 80 size en-. i0-f5e
LEAEONS-Best case and - siisl,
dOz ....sss.. -. -. .t'.-s l5-sfe
ORANGES-Fia.. med. QTs and
216 Eizel, dos. .............s,,.,. 45-85e
sI1s,. RS t Sou mss 81. .ea. .oo ts-oos
BANANAs-Do1 ...s.,,......,.. ss-lss.
FISH.
BUCK SHAD-Fresh lb ........... 25-sse
ROE SHADr-Fresh, lb.-..........s 26-S3r
CROAKEBS-Fresh, ID. ,....,....- I-f3e
HERREH6s--FTssh. ID -. -....-. !. 6-1ee
TROUT-Small, fre8h, 10 1900. A8-2ic
Do, medium. fresh, lb.....-. sg-48c
do. large fresh. ID .-.-...-- s8-s3e
ROCK EISH-Lb. .SS-33E
The Washington times., 1919-04-22
FLORAL DESIGNS

}. H. SMALL & SONS, Florists,
Corner 18th and II sts.. WASHINGTON
Waldorf Astoria. and sos Madison ave
New HorH. Flowers for funerals a spe.
cialty. Prices moderate.
FLOWERS for all occAEionS. Call FTanEIi0
4506; residence, Franklin 1856 GEO N
COOKE. 1l02 Conn. ave. mv1R-Ihnt
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
prATv,s

sT q sGs saa ss' q s Ss' E ss d Bs.sst
memb.rs Taylor Memorial Sunday school.
Psrs aTSa sdengs issI ifsssIfss r. Farh E Int
Mt Moriah Gem. Auto funeral. Remain;
cHHRhEs HfEfTH6SSN!y SSps Of Ma
rSeG to "snd unaTa asryGs nd
aowsr3 sSt 9ss Paam,on koris BIS sons res,GeRGe
ley Int. private. ave. ''''>i"'
81 jessie J. aarbooT H SosTEE
p M ioS SrIS.,c = cot,Sss Wsst aye; 4%SdGn9sId
n'tiiSsf HERITAqEmA Ei pA Hidden Heights. N j..
Funeral services ,so5 Third ave. Maddor lon
HARRITY, ,|J1ns 10. ANNIE, widow of
R Sted to funeral FL sso ana "a mr. r5ienss ssn-n n
laws residence, Emil Langbeck. lTss n,
BETH church 70 a Gue m Int SsS New g. zs
Gem. Auto funeral.
of Mnly am 4Bs,r ns. A.ERTR WTavh husband han
tiyGs snd friends W9TPSr and Warn Dress
sns may s be ySed n 6nra nfer cG% Re
RUNT1NG HoGE; wife of William T. ifoEe.
NIS}6f KShB.g%na !pnS5s1 .MAYgELLE. wife of
Louis s KoIb 3nss Van FOsseni aged 20
SS GSSrcS rqFs ss KamsnsB Kn5FS BrstHrse ma9 se
SS'd @g RGb 5g2o FssdISso r. I1S Sc e fS int
NGLlnE9Ia LANDTiSJnne Jun o. HANNAH c. VIII. .,
ana fTienSs Inytsd t. fSneT@i, Ffi, FFf,''sESS sSo
Gory S'S Int "1Gf Roy Ot croSs 9S5 ts@ ttsay
xts e NiP% 'aRs cAsGa&s1SS ssG
s H?asrSs "ss s;$ f'S"f = PSs% +: ( !$P:s;
yiT:$ 4HE A$'S :''S,si
ara 5"& {i3?i 81 sSHs Ses% So
whiSk he vas a member. iHylted 70 funeral
TyS c mos en- ,Gs may at l9 be
vieTsII TI TT Thgrs' THG to D 10 p n rr,zAprr,
friends invite invited % t9 funeral SERVICES Sat; il
LOVE. E.asuddeqliy; Jun, 70; GLENN r.,
Services; EEi: , : ?. IN" M, '' a7oS 'w"Trinsto%% %
Jane and late Michael Lynch tnee Tinnoyi
Sat: $50 a. m; residence Of mother. Ho7
Annunciation Church 10 n. m. Int New
Cathedral Gem. Auto funeral.
=, MACLAY NL1 lyme lyme II, JOHN PALMER ,.;dI1s
invited to services, Sat. 10 a. m. 50G S.
OMACLkY.-June il. at 500 S. Both st.
JOHN PALMER MACI.AY. aged 81 Funeral
services and int. on Sat, at convenience of
the family.
McCLELLAND.- June 10. MARY N.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

BOY. bright. young TO run errands and
learn Insurance business; answer in own
handwriting. p SS3. Ledger ofhce.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
lrattrH

Relatives and friends. yaux Lodge. No
N5 aaS tbGrSS sSr' invited S7G 'TSsfs to f
pWSrsi' Wrsi En- Ri, Fl m ioiS Chester ave. Int.
S,s@s.sf ! H:sis'2 rs dfsSshfS R.s
yves and friends inyitsd to funeral services.
S csm sSo ii Rcms TTeRt ns St maI yn, s.
Thurs. to 10 p. m Auto service.
band Of Anna YIstdS IL MiTtMARR taas hus;
son OF George and Ellen Caviston, sia snu
NJ So' Sc 9Sa E'afiS coWmGdGre WNs9S}y Barry G9Hnc
4 O r. Court Tapmen f. Of A.. Invita-
Escms e tqnSrai piads MSn 80 nr'b 4 sg2S
10 a m. Int Holy Sepulchre Gem '''iy
cgAwr9Rp. June O.. ANDREW. hu,.
friends invited 70 services FrI and
s48S Kcim st. n and OntarioJ. Int. g ceaat, a.,
t'ltt mem Cem, ~
tREAMER June 10. HANNAH. widow Of
s 70 crvcss 4hHf. Hsasi D. and m fS sRS
Turner st, Int; Mt, MorIah Gem, at con.
V'TiSHSS TI,%SIT Of family. 1 :, >n,,
James J GunnI6 da n,,bfsr ~ wtte oi
% %frSpds" WHEN R6sn RS5nedy RSls'tyes and
Iohn the Baptist Church ali Societies. 81 81
MaS M6ch IS 80 va mem5S$55 Rs:,a 2yd e fdHfrs
"%roaeh solemn reaTcm G%T RefrSF mass JoSn RSX
H. tlG,, BAPTIST Church 10 a. m. Int. st Johns
.DAvrDsoN.-Junc y. ANNA NJ. daughter
ives ana fria,ds su maTy T pSyids9n, % st Rels
+; T., Mission and st Nathaniel's $" =. p p.
n m pnrsnts 70 siTdTGa Sst
ST IN prIvnte NSrtb Ccdsr uiIi Ce1,
II Il I'M, ~ ~ 70 tiSrrTi gu Nsm
John G. Dell and Of sts FrsdarsSf Sf
r ana Annie l., Lott. aged %, Relativess
9 y M apartments Of William IT. Bat.
tersby 1916 II broad ST Int private. wv
IIin Gem Rcmains may be viewed Thurs
s 10 10 y m.
DICKEL-June 10 HENRY c. DICKEI,
RelatIycs and friends members Of Rristoi
Lodge, No. %. F. and A 81, Of Bristol
y, iryitnd tn .or,iCns Pam 'vailov 'ra
rIngcs yin moot ;rafn i"a,Iny Rroaa a.
StafiGn u o.na n ~, "' arrIvinSS Mopri,,iiio H. IL
'TEfnhcAp ,u,o N 1ot1> hr,h.,s -,
r,ahnoiia Iu"r - SHh'En nuSuanu tS OF
t9au',I' ,r,uE"T, HEth 90 helatI'es ana
frtends Diamond Pqrpl" star. l.. o. l.,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
LONGPORT. y. j.
PEQuEA, Pa.
RIVER VIEW HOTEL

Wynbmne Inn on oI.,iH Main ain. Line n Espe-
ness men with families. Rooms with ba tn
3 nt Reasonable rates. Dancing Large
grounds. wide yerandas. Phone Berwyn III
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
lADNOR. PA,

HADNOR INN, Radnor Pa.-Residential
2 & snn. Beautiful surroundings; wonderful train
service; golf. tennis: excellent cuisine; motor
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

EXPERIENCED SHOE SALEswoMAN n
WANTED
One who is thoroughly experienced
and capable Of taking complete
charge. of high-class shoe depart
Tent Curing buyers absence.
pleasing personality who can pro-
duce results Apply in person or by
letter to II. NJ. VOORHEES, & Bro.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
LEGAL ADVERTISEMENTS
3J.S9 IN THE ORPHANS COURT FOR
hSS the County Of Philadelphia:
1910 M 22

hS5 the County Of Philadelphis, ~
Eststs Of ffsderick ". Evans: j.. deed;
=, Notice is hereby given that Annie Stewart S1dt
in said court her pettion sathn claiming her fb Hx
Fiduciaries Act OF 1917 out of the real
estate of the SeSsdepp k1o%p N NGs 31s2
and that the appraisers appointed by the
Court have appraised the, said & premises en- 0-t at
gage OF $500 to which same are subject.
and praying that said appraisement be con;
irmed The said petition may be allowed
bv the Court on Friday, June 81, 1919 un.
less exceptions thereto be filed before that
''''e' HOWARD B. WILSON.
THOMAS f GAIN.
Attorneys for Petitioner
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

THE CARLTON CHELSEA AYE
{. - AND BEACH
The Yarmouth Belmont to Iowa Az.
On Boardwalk
Ownership Management
CHAS. p. ZAZZALI
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
LAKE PLACID, n. Y,
WHITEFACE INN

LAKE. PLACID. y; Y. OPEN JUNE Is.
Modern in all it's appointments
J. J. SWEENEY, Manager
Winter-HiEhland Park Hotel, Aiken. s g
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

WOMAN wanted. white or colored for plain
cooking and cleaning; hours 10 p m. to
Z a.. m, Apply Mt Sinai Hospital, 5th and
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
Hamilton Apartment Hotel

West Matn ST., NOrristOwn, Pa,
A cornfortabie suburban Hotel between
Un ard counlry, overlooking the SchuyI-
II f,&s+r large yerands. elevatoc and all
n, 81 .rri.,if.on- Narristawn 1sI
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

3<< 4IfAELE furulsbhd cottages complete
~ 1A nsed. eenren., for rent AZ res terms :
/. ..<.. ,II<. III ! st8e meals ~ the Forest Inn
( }s ~ sssssf Msr liqghssy'le, Ps
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
Hotel Netherlands

Cap. 400. Elevator private baths. running
watsr IN bedrooms. FREE EEATrRES-
Bathing privilege from hotel, Dance Floor.
June rates. American Plan with meals So
60 50 daily: SIS Sl75O. SEQ S25 weekly.
AUGUST RIHWADEI, PrOpriPtOr
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
WEKNEKsYILLE. PA.


~ Iie hlfnd nouse--Now open. Overlookini
~ Famous Z barren Valley. Send for rates
NJ e,feulers. Addrsss NJ. : hRINKLEY.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12

Ca amden. Nora WoI.BERT. Relatives and
church Of the Sacred Heart. invited to fu-
neral. Fri. 8 A.. m, Solemn 5eduiem mass
Holy Cross Gem Auto funeral.
WORTH.--June Q; HARRY s.. Jr..> son Of
is' Relatives and friends invited to funeral.
sat $50 a. m parents residence, is NIL!
ar Darby, Pa. Requiem mass Church OF
the Blessed Virgin Mary 10 a.. m. Int. Holy
Cross Gem.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-06-12
HELP WANTED-MALE

BOY-opportunity for ambitious boy to learn
handwriting, =. o. Box 523.
office work in manufacturing establish
ment located North Philadelphia: common
school education necessary. Apply In own
Evening star., 1919-12-17
FEDERAL INCOME AND EXCESS
PROFITS TAXES ARE EXPLAINED

period ending on the last day OF any
month. In fact, If his books are kept
on a fiscal year rather than calendar
year basis he is expected to make a
report in accordance with his books.
4. Returns.
ca Individuals: In my first arti-
Gle I indicated to what extent indi-
viduals are expected to render tax re-
turns.
(b) Partnerships: Partnerships or
firms as such, are not subject to tax.
The Individual members of such firm
basis of their share in the net profits
from their firm, regardless of whether
or not they have actually received the
share of profits to which they are en-
titled. Despite the fact that partner
ships are not subject to tax, they
must file tax returns, disclosing their
income and expenses, at the same time
and in the same manner as individ-
ualS.
(c) Corporations-Every business
corporation, regardless of whether it
has any net income or not, must file
a return. Certain classes Of corpora
tiOnS are exempt from tax and are not
required to file returns. The complete
list of tax exempt corporations is
given in section 231 Of the revenue
law.
90 Information at the source-All
partnerships and corpora
tions making certain payments
amounting to $1,000 or over are re-
quired to furnish informa ton Of such
payments to the government. Section
zoo Of the law reads as follows:
That all individuals. corpora tions
and partnerships, in whatever capac-
ity acting, including lessees or
mortgagors of real or personal prop
erty, fiduciaries and employers. max
ing payment to another individual,
corporation or partnership, Of inter-
est. rent. salaries, wages, premiums,
annuities. compensations, remunera
tions. emoluments or other fixed, or de-
terminable gains, profits and income
of $1,000 or more in any tax
able year shall render a
true and accurate return to the com
missioner. under such regulations and
in such form and manner and to such
extent as may be prescribed by him
with the approval of the Secretary
setting forth the amount Of such
gains, profits and income and the
name and address Of the recipient OF
such payment"
In the third article Of this series !
propose to commence the presentati ton
of a practical problem dealing with
the 1918 income Of an Individual, Aft
er this problem has been completely
solved and return prepared, It is
proposed to utilize the problem in
connection with the tax. return of a
partnership. Finally, the same prob
lem, modified in certain particulars
will serve as the basis Of a study OF
corporation returns,
Evening star., 1919-12-17

By the Associated Press.
CURLING, n. F.. December 17.-Ihe
passengers and crew of the coastal
steamer Ethie, numbering ninety-t"o
persons, were brought ashore on a
from the ship by a Newfoundland
dog after their vessel piled up on
Martins Point
Boats could not make the hazardous
passage from the stranded steamer.
An effort to shoot the line ashore
failed when 1t became caugnS men
the the waters. and so the dog was put
overheard. r..;. ~.
intelligent animal succeeded IN e re-
leasing the rore and. holding II tlgn'-
Evening star., 1919-12-17
CLAIMS OF $139,914
MADE AGAINST MEXICO

Nine claims aggregating $13e.s14,7s
have been fled against the Mexican
government by Americans and are
now awaiting payment, according to
advices received here today. These
claims are made by companies and
corporations and by individuals.
The greatest number of foreign
claims against the Mexican govern
ment have been registered from
Spain and number forty-four. amount
ing in value to $14.764. .45s.27: Nine
teen claims were fled by Turkish
individuals, amounting to $3.50: :467 81.
and twenty-four claims were nled by
Germans amounting in value to
81, ,O95, 10000 France filed two claims.
amounting in value to $2s2; ;s41;s2, and
two other claims were filed by Italians,
amounting to $272, 1880.
One hundred and eighty claims
were filed against the Mexican gov
ernment by Mexicans, amounting to
$40 020.55851. The total value Of
claims against the Mexican govern
ment is $30,226,16S.
Evening star., 1919-12-17

PARIS, December TT is useless s
to ask for an apartment at less than
mo francs a wear, home hunters are
informed % by one Of the largest rent
sParis is full" says the Presse de
Paris, in warning people away IRON
the city. "One sees this on al an sites US
r. "a irnpossib1e to find not only Two
rooms and a kitchen. but a place IN
the auto bus or a seat in restaurant
theater or movie"
Oficers ordered to Paris to follow
certain technical training courses. the
newspaper says. are considering pltcn,
ing tents in the Champ de Mars, and
the writer adds: Unhappy are those
compelled to install themselves in
paris. They may knock. but no one
Evening star., 1919-12-17
CONDUCTED By
DIR. JOSEPH j. KLEIN, G. p. A.

Copyright, 1919. by Joseph ]. Klein.)
[Tax questions should be addressed to DR..
Klein, in care of the editor Of this paper. To
receive attention. all communications must Be
signed. DR.. Klein's answers will not reveal
the identity Of inquirers.l
ARTICLE IL
In the first article of this series I
1t was of such general application
that a number of explanations are in
order.
/. Cash VS.. Accrual Basis-Taxpay-
ers are privileged to render a report
of their net income on the basis of
either cash or accrual methodsS
By cash method is meant return
which takes into consideration the
cash received and the cash disbursed
during the taxable year. Ey the ac-
crual method is meant a return pre-
pared on the basis of income appli-
cable to the period. whether actually
received or not; and expenses appli-
cable to the period whether disburse-
ments were reference thereto have ac-
tually been made or not. A few eX-
amples will suffice to make the dis
tinction clearer.
(a) The owner Of a tenement buys
ten tons OF coal in November at $40
per ton. 500. If he reported his in
come and expenses on a cash basis, he
would consider 500 as his expenses
for the year. If his report were on an
accrual basis. he would inventory his
coal at the end of the taxable year
and consider as expense for the year
only the cost of the coal actually con-
sumed.
(b) At the end OF the taxable year
certain bills for telephone service, gas
and electric light, etc. supplied dur
ing the taxable year. may be unpaid,
If the return were filed on a cash
basis these unpaid items would not ba
taken into consideration. On the other
hand. if the return were filed on an
accrual basis, the unpaid bills would
be regarded as an expense. despite
the fact that they were as yet un-
paid.
(c) In reporting on cash basis, in
ventories Of merchandise, etc, are not
taken into consideration. On an ac-
crual basis. inventories are essential.
2. Bookkeeping methods-The law
does not prescribe the method of book
keeping which a taxpayer must en-
ploy. 1t contemplates, however, that
some bookkeeping method is in use,
and that such method reflects the true
net income of the taxpayer. In such
cases it is presumed that the tax
payers return will be filed on the
basis of his books.
3. Taxable year-The Taxpayers re-
turn is presumed to cover. in general
a period of twelve months ending De-
cember 81 He may. however. render
a report on the basis Of any yearly
Evening star., 1919-12-17
DOG CARRIES WRECKED SHIPS
LIFE LINE TO SHORE, SAVING 90

" in his teeth. fought his way
through the breakers to the shore.
With block and tackle the Ethics
crew. aided by fishermen on the shore,
rigged a life-saving device, using a
boatswain's chair for a carriage. One
by one in this chair ninety-one Of the
ninety-two persons aboard were safe
ly hauled to shore. A baby eighteen
months old was pulled ashore in a
mail bag.
The Ethie, which had been, engaged
in the coastal service between Curl
last Wednesday during a gale, while
bound south. The wreck was not re-
ported here until the shipwrecked
passengers and crew arrived from
Bonne Bay. all wires having gone
down in the storm.
Evening star., 1919-12-17

President of China in recent decree to
military and civil governors as neces-
sary steps to relieve the financial en-
barrassrnent of the central government
The 20 per cent reduction would leave
an adequate military force and effect
an annual saving of twenty million dol
lars. the decree said, and reforms in
methods of collecting land. rice and
other taxes would increase annual rev
enues by the same amount
Evening star., 1919-12-17
Col. Morey Goes to Atlanta.

Lieut.. Col. Lewis 8. Morey has been
relieved from duty in the Office Of the
director of finance, War Department,
and ordered to Atlanta, Ga. for duty
as zone eroperty auditor, for the
southeastern zone.
Evening star., 1919-12-17
& nm FRANCS A YEAR RENT
FOR APARTMENTS IN PARIS

will open to them. unless. be it un-
derstood, they have at least 5000
francs to spend for rent. AS for
remedy, see none.''
And so," the writer concludes, "all
you who think Of coming to Paris.
now become a palace, receives none
but mil1ionaireS"
Evening star., 1919-12-17
CUT IN CHINESE ARMY URGED
Tax Collection Reforms Also Pro-
posed by President of China.

Reduction of the Chinese army by
20 per cent and the introduction of
reforms in the administrative system of
tax collection were proposed by the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-11-01
OCTOBER AREC0RD
MONTH IN STOCKS
In Number of Shares Traded
In and in the Price
Gains.

(From ". 7. Evening Post Financial Bureau.)
NEW YORK. November 1.-The
month just ended is likely to hold
somewhat interesting a place in the
history Of our financial markets.. In
the number shares dealt in on the
stock exchange all records for October
were surpassed.
When the movement of prices is re-
viewed it will be seen that on the one
hand a spirit of extravagant specula-
ton has resulted in the continual bid
ding up of prices for industrial shares
at a rate and to a level which bore
more semblance to a stock market in
Wonderland than to a market in a
community of serious business men,
while, on the other hand, the in
stinctive misgivings of the stock ex-
change itself have been expressed in
succession Of declines as violent as
the advances which had Immediately
preceded, but in the net result the in
fiation of stock market prices has con-
tinued.
Sometimes a movement of this sort
is accepted at the time and explained
afterward as the result of an invest
ing community's conviction that q
lately prevalent belief in the existence
of hard times. with consequent low
| prices for securities, was erroneous
and that a period Of exceptional pros.
perity was at hand.
This was the case in the season
when the transactions of October on
! the stock exchange ran closest to
| last months total-in the autumn of
| 1904. The same conditions existed in
| the great upward movement of 1915
and in a less degree in that OF 1916.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-11-01
SUGGESTS CHANGES
IN CUMM|NS BILL
National City Bank Expert
Believes Congress Should
Instruct on Rates.

From National City Banks November circular.
The Cummins bill in amended form
has just been reported from commit
tee to the Senate. We indicated last
month some of the objections to this
bill, but expressed our belief that with
certain amendments it would proba-
bly, reach the heart of the railway
problem. which is the rehabilitation of
credit. The railroads have only one
thing to sell, and that is. transporta-
ton, and the price of what they sell
is the rate. The restoration of credit
therefore depends upon the establish
ment of adequate and compensatory
rates.
On this crucial point section of the
bill in the amended form provides
that the rates prescribed for each
district shall be as nearly as possible
sufficient to produce a net operating
income for all the roads in that dis
trict of SIG per cent annually on the
value of the property as determining
by the commission.
The commission is also authorized.
In its discretion. to increase the fixed
return to per cent. but the additional
" per cent is to be used to cover the
cost of non-productive improvements
on the property.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-11-01
OTIS ELEVATOR REPORTS
EARNINGS At TOP MARK

Business and profits Of the Otis Ele-
vator Company are running at the high
est rate in its history, due to the large
amount Of building operations now I'M
der way throughout the country. The
company has a large amount Of busi-
ness ahead. orders coming mainly from
Office buildings. hotels and warehouses
According to officials, building opera
tons, as indicated by orders received.
are scattered throughout practically
every section of the country.
Net earnings for the year ended Sep
TENDER 30, 1919. as shown in the listing
statement to the New York Stock Elk
change, were s1.42302 after taxes and
a depreciation charge of $612,7SS. After
allowing full twelve months dividend
on the $6500,000 6 per cent preferred.
there remained a balance of s1.043. OPS.
This was equivalent to better than SIS
share on the $500, 3S7 common stock
outstanding.
Earnings Show Improvement.
This is decided Improvement over
earnings reported for the calendar year
1918, when s622.4SS. or $9.77 a share