The Washington times., 1923-01-21
BULLS AND BEARS
. Dine WITH BANKERS
More Than 500 Persons At
tend Annual JolIifi-
cation
SM00T RAPS TAX SYSTEM.
Nations Revenues Fall In
equally Upon Business,
He Declares
sMooT RAPs TAX SYSTEM
BY CHARLES r. sHAEFFER.

By CHARLES r. EFIAEFFER.
Bulls and bears OF the Washing.
ton Stock Exchange called their
annual truce last night and broke
bread with their mutual friends Of
the District OF Columbia Bankers
Assoc iation, the occasion being the
annual jollification banquet Of ex-
change members jointly with the
bankers organization, at the New
Willard Hotel. More than 500 per-
sons were present.
There was much peech-making
impromptu and otherwise. When
the bulls and bears Of the stock
excnanges and the money lenders
get together, to be sure, there Is
none left but the dear public. And
from the tenor Of the addresses
made last night oy captains in
both ends Of the financial scale, 1t
IS safe to say that the business
world need have no fear Of ructions
In finance quarters upsetting the
even keel Of good times.
SMOOT FLAWS TAX SYSTEM.
The biased observer. however,
might infer that the bears got the
worst OF It In discourses rendered,
Tor the bulls were stampeding with
excitement over returning pros
perity. At the same time spokes-
men Tor the bankers were waving
the red mot BolsEevil) flag at the
harbingerB Of better days, the more
to arouse their enthusiasm
Senator Reed Smoot Of Utah.
the only selected speaker Of the
evening, delivered scathing de-
nunciation Of the discriminatory
taxation system now In vogue in
this country. The present unrest,
the Senator charged, ''is almost
wholly chargeable to the unanimous
protest Of the people of this coun-
try against burdensome taxation.
Taxation here is discriminatory in
character. It Is not falling equally
upon all the people or upon all the
business Of the country.
The American people will never
be coI1tented with revenue system
that does not fall equally upon the
business Of this country. sin.
cerely hope for the day when nag
ging, irritating taxes are eliminated
and in the future AZ In the past,
/ shall devote my heartiest efforts
TO this end"
CHIEFS SPEECHES BANNED.
Joshua Evans, jr., president Of
the Bankers Association, and
Eugene. e. Thompson, president Of
the Stock Exchange, co.heads OF the
affair, were prohibited from speech
making by w. w. Spaid, chairman
OF the entertainment committee,
who ruled to the great joy Of the
assemblage, their utterances could
not legally come under the head of
Entertainment" However. out of
respect for their positions Of honor,
they were permitted one minute
each. which they utilized In extend
ing welcome.
John w. Prescott. Of Kansas
City. president Of the American In
vestment Bankers Association, con.
graduated his committee for hav-
ing selected this city for their an
nual convention next October.
The entertainment end OF the pro.
gram, consisting Of the principal
acts playing local vaudeville houses,
was highly commendatory.
Humor and exceptional wit was
the prevailing tonc Of the evening.
An elaborate thirty.four page book
let, appropriately titled "The sat
urday Night RumpuS," prepared by
satire, puns, nonsensical statement,
etc., which,. to those on the Inside"
Of the local banking situation as
most Of the guests were, proved
funny beyond parallel. Cartoons
directed at prominent men In the
local financial field literally flooded
this farce tabloid newspaper, and
were llilariously received.
While it is impossible to quote
many Of the humorous sayings,
owing to lack Of space, the follow
ing familiar sayings OF famous
men" are noteworthy:
I am the State.-John Shelton.
Don't josh the President Of the
District Of Columbia Bankers AS
neutrality-suspicious..
You can't trust every second
Itrust.-H. G. Meem.
DR.. Coue is not the originator CT
autosuggestion. Some OF these
Washington finance companies
knew it years ago.-Maurice OTTER
back.
1t will take long time TO get
rich If you spend everything you
get. Don't forget thrift week.
Thomas P. Hickman.
Buy 'em or sell 'en, It makes no
difference to me.-Frank Kane, OF
Hibbs & Co.
Speaking of old lots, what do you
think Of that bunch in the mack
room?-Harry Wheeler, of Hibbs
G. Co.
told you so.-relix Lake.
Take it from me.-Authorship
claimed by fifty new Washington
brokers.
It opened strong, but it is selling
off now.-W. Taylor Burch. OF John
L. Edwards & Co.
It's never too late to mend
Ernest Herrell.
Among the song hits of the
evening was one parody on the
famous Gallagher and Shean bit
labelled "Galliher and Poole" which
was delivered accompanied ny
hilarious uproars. The even rhythm
Of this production Of Mr.. Brahany
is highly commendable. It goes as
follows:
There are two famous men
Whom nobody can fool.
One lie Mr. GallIher,
The others Mr.. Poole.
II surely IL treat
The things they do. the things they
The funny way they greet.
Oh, Mr.. GalliherI oh. Mr.. Galliher!
Hello. what's on your mind this evening"
Mr.. Poole?
Why, your bank ia like to buy