wants to

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ZEL
ANN ARBOR

WILL SELL
[00 sh. Hoover Steel Ball
50 sit. Michigan Crown
Fender
20 sh. Hayes Wheel
orshee & Kuehnle
Investment Securities
e 408 41: 1st Nat'l Bk Bldg
Chop Sucy
lot Rolls - 2 for SC
CHIGAN INN
s 948-R. 601 E. Liberty

SECURITY PRICES DECLINE DUE
TO SECOND LIBERTY LOAN
PAYMENT
Mints in the United States are work-
'ing in three, eight hour shifts to pro-
duce new coins required by trade ac-
tivity, and the holiday trade, which
according to a financial statement
issued by the National City bank of
Chicago, will be large.
Security Pices Decline
Security prices have declined rap-
idly, but the slump has not to any
great extent affected the general pulse
of business, according to market re-
ports. Because about one-tenth of
the population 'of the Chicago district!
subscribed to the second Liberty
Loan, the decline has been more or
less natural, financiers believe.
Business volumes are larger this
year and steel products are in de-
mand. The government is the biggest
buyer.
The spending power of the conimun-
ity is as great as last year, Put the!
sharp rise in commodity prices has
undoubtedly made a vast difference in
some instances.
New Treasury Policy
Flotation if the new war savings
certificates marks an important de-
parture in the government's fiscal pol-
icy, according to Fairfax Harrison,
chairman of the railway war board.
Under the law, the treasury depart-
ment can issue $2,000,000,000 of these
certificates, which bear four per cent
interest, mature in five years, and are
issued i, denominations of less than
five 'dollars. Certificates can be re-
deemed at any time before maturity
on 10 days notice of the holder's in-
tention to do so.
Market Stands Tet
The market has stood the test of
the initial second Liberty Loan pay-
ments exceptionally well. There , as
virtually no disturbance at all, call
money being plentiful around four
and and a half or five per ent, not
withstanding the-fact that nearly one
billion dollars was transferred.
Because the future is somewhat
clouded, the financial experts of the
Chicago area are at variance upon
economical questions. Some few be-
lieve that the war will end soon anl
the period of reconstruction will b -
gn at once. Government officials are
not acting on any such basis.
HUNGARY FEARS/FOR FORTUNES
OF AMERICAN-BORN HEIRESSES
Geneva, Dec. 12.-The new declara-
tion of war by America, has created
a great impression in Austria and
Hungary, especially in Budapest, be-
cause' Hungarians in America who
are unnaturaized, greatly outnumber
the Austrians there. A number of
Hungarian noblemen have married
American heiresses, whose property
in America may be confiscated.
The Journal Az Est of Budapest
states that the formal declaration of
war by the United States, though not
of military importance, is still a great
blow to the Austro-Hungarian Empire
from political and economic points of
view.
Campaign Planned For Prohibitioni
Washington, Dec. 12.-Plans for
campaigns in all states for ratifica-
tion of a federal prohibition amend-
ment as soon as one is submitted by
congress were laid at a meeting here
of the national temperance council,
composed of representatives of all
temperance organizations. The coun-
cil determined to support prohibition
candidates wit hout regard to politi-
cal parties.
Report on the prohibition consti-

tutional amendment in time for the
house to vote on the question prob-
ably between Dec. 17 and 20, was
indicated today when the house ju-
diciary committe met to consider
national prohibition and woman suf-
frage. The suffrage amendment may
be held up in committee until after
the Christmas holidays.!
Recreation makes for Efficiency
"We try to treat you right." Huston
Bros.--Adv. tf.
Christmas Cards and Engraving at
Wahr's Bookstore.-Adv.

In vi,:w of the
nece scity for c
cf heat and lig:
sity has order(
used for instruct
iversity library,
o'clock in the e
in the morni:
of special meet:
into effect last
Two seniors
for cribbing at
Inois.

have been dis
the University

A new plan of examnations will be
in force this year At the University of
Washington. Heretofore all examina-
tions have taken two consecutive
hours. This year each examination
will divide its time over two or more
days. Oral quizzes for the final tests
are barred.
A simple test In punctuation was
given recently to 140 student teachers
at the University of California. Of
them all, only one, a Chinese woman,
had a perfect paper. This same test
was given to a number of French
boys between the ages of 10 and 12,
who had had only one year of English,
and over 85 per cent completed it
without a mistake.
Amherst seniors voted unanimously
to abandon the annual senior hop this
year as an evidence that the class
wishes no unnecessary social activities
in war times.
Hendricks hall, the new dormitory,
will be opened.for University of Or-
egon women on Jan. 1. The build-
Ing is of red brick, and colonial in
architecture. The furniture for the
most ?art, will also be colonial in
style. Freshmen only will reside in
the hall.
A dance for soldiers will be held
by the student body of the University
of Utah tomorrow night. The plans
provide for the presence of every un-
iversity girl at the dance so that the
guests will not lack parters.
At a meeting of the university club
last week, a faculty service flag was
presented to Purdue university. The
fa is nine by twelve feet, with 39
stars o represent the 39 faculty mem-
bers who are in service.
CONVICTS MAY BE PLACED
AT NEW WORK TO PUSH WAR
Plans to take convicts from prisons
and, put them to work to aid the gov-
ernment in the prosecution of the war
are> to .be worked out at a conference
to be held in Washington, today.
Thousands of men who are in idle-
ness at the various prisons can be
utilized at this time, when the whole
strength of the nation must be used.
.It has been reported that work in
the various cantomDaet has been 
layed because of the labor shortage.
The convicts are to be utilized to meet
this shortage, to build roads and help
load and unload ships here and abroad.
Hoarded Dollars Slackers and Enemies
Cincnnati, Dec. 12.-A hoarded dol-
lar is a slacker and a dollar spent for
an unnecessary thing is "an 'ally of
the enemy," Mr. 'Frank A. Vanderlip,
nation'al director of the war savings
campaign, said here in one of the
first addresses of a two weeks' speak-
ing tour of the middle west and south.
Mr. Vanderlip urged purchase of
war savings stamps and certificates
for the purpose of directly assisting
the government to finance the war and
economizing on materials and energy
devoted to producing non-essentials.
New Loaf Being Made By Bakers
Washington, Dec. 12.-Bakers today
began making a standardized loaf of
bread under regulation prescribed by
the food administration. The new
loaf contains a minimum of fats, and
can be sold, according to the food
administration officials, at seven cents
a pound. No price, however, has been
set.
Licenses, are required for all bakers
using more than ten barrels of flour
a month, and for hotels and clubs us-

ing that much flour when they bake
their own bread.

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Let us give you our figu:
Extracts from a letter
Camp Custer, regarding hi

Tinker & Company,.
Gentlemen:-
Uniform arrive(
ing Co. did themselve
pleased with it.
We would not re
Uniforms were not giv
Samples open for

at
Student'
Supply Store

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HEADQT

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day. Finder please
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Easy
TERMS

CHRISTMAS
VICTROLAS

Cigars in
Although diffict
line of cigars of go(

At Grinnell Bros.; and you can buy them on easy terms.
SPEAK EARLY FOR'YOURS

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