Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-29

member and first vice president of
the District National Bank: charter
member and director Of the Jobbers
and Shippers Associations: charter
member and director of the Wash
ington Chamber of Commerce; an
active member of the Washington
Board of Trade: Columbia Country
rank; an1 ChristiA gentleman
whose verbal agreement was as bind
ing and sacred to him as a written
contract.
His home life was happiness in the
extreme. proud and affectionate
father whose loftiest ambition was to
give happiness and pleasure to others
In the death of Mr.. Hoge this
community has lost man of sterling
qualities of integrity and honor.
His long varied and business eN-
perience. his devotion to duty. hon
esty of purpose in all things. and as
director and vice president OF the
District National Bank. his sudden
demise is recognized distinct
loss
although IA successful business
man he was not rich. except in price
less rewards that cannot be measured
by money made or public honors eX-
tended. but rather by life Wen
lived and the love and confidence en-
him best.
With the above statement as. the
sincere expression of his friends and
associa tes-the officers and directors
Of the District National Bank. VINO
appreciated him as friend ana non :
ored him as man-our heaftielt
sympathy is extended to his bereaNed
family at this time of their great sor
row and distress. We further direct
that q copy of these expressions shall
be sent to his family and to the pa :
pers of his home county and spread
upon the minutes of this meeting as
an appropriate tribute to man VINO
was loved in life's battle and whose
memory will long be reVered by all
who knew him,
Lessons the Strain.
The receding cost of manufactured
goods and the severe declines IN many
materials and in the grains have been
of material advantage in reducing the
amounts of cash involved in the pur-
chase. and carrying thereof.
On the upgrade, when values were
mounting steadily. reference was
frequently. made to the great diner
ence in the added funds needed TO
finance merchandise. etc.
With a crop the size of the wheaf
and corn crops of this country this
year a few cents on the buShel VIII
make an enormous difference in the
total of funds required for handling
ii to market and to consumers
The value of our exports tor the
year 1920-that is. the fiscal year
total nearly $4,000. 100000. while back
before the war and in the fiscal year
1914 they were less than one billion.
They will be larger during the COM
ing year if our foreign friends can
find the means for financing pur-
chaseS.
Local Securities.
A rise in Railway preferred. on the
theory that the directors would soon
be able to declare the dividend for
the second half of the year. was the
only feature to the market for local
securities during the entire week.
The rest of the market was lifeleSs
and without sufficient action to make
the daily sessions of the exchange
interesting.
By no measure of reasoning can
any connection between the action
of the local market and the Wall
street market be shown, except that
when dullness and depression prevail
on the latter there is small trading
here. while a boom on the New York
marke does not even produce a quiz
err on the local bourse
There are bargains on the local
list as well as elsewhere and some
Improvement ought to follow general
betterment in the situation.
This is the time for investment of
funds on the to per cent basis.
The recently organized Interna-