N U.S. SECRITIES
f,000,000 in American Bonds Mar.
keted in Asiatic Island
Kingdom
UNTRY IS VERY PROSPEROUS
Japanese merchants and exporters
ve bought between $30,000,000 and
),000,000 American securities in the
t six months, according to estimates
ade yesterday in banking quarters,
tere an important part of the pur-
ases were put through. The 'securi-
s wer~e bonds for the most part,
gely underlying railroad issues, al-
,ugh a substantial part consisted of
)rtgage bonds of industrial com--
nies returning a high yield on the
rchase price. It is assumed that
my hundreds of thorrands of dol-
's worth of Americ2 a bonds sold
re by Europe have gone directly into
panese hands.
Investments on Large Scale.
These Japanese investments on so
ge a scale are the outgrowth of the
ifts of commerce which resulted
>m the war. Japan has been ship-
ag to the United States a great
ount of goods which formerly were
knufactured by Germany, and at the
me time exports to us of silks and
ier far eastern products from Ja-
a have been stimulated because the
.ropean demand for them has been
luced. In consequence Japan's trade
lance' I. this country has been
wing steadily, producing credits
ich either had to be transferred to
owners or put to use here.
For the most part the securities
ght with the proceeds of Japanese
ods sold in the United States have
en deposited with local banks. As
e interest on the bonds falls due it
IL be credited to the owner's account,
: dividend checks will receive
ilar attention. On most of the
icks and bonds, it is said, an income
urn of at least 41-2 per cent is
stained, while is 11-2 per cent, or
re higher than the owners could
if they had their funds sent back
me and the money lent at interest
es current in the Japanese market.
Abundance of Money in Japan.
['he superabundance of money in
pan is the primary reason for in-
stments in American stocks and
ads. The nation has prospered
atly from war orders, and this
siness has flooded the country with
ney. A number of prominent banks
ve of late begun to refuse further
posits, and the bankers have dis-
iraged gold imports as far as pos-
le. Gold is sent from this side from
e to time, however, $2,000,000 hav-
been transferred yesterday by the
-treasury to the San Francisco mint
shipment to Japan. Half of the
al was arranged for by the local
"cy of the Yokohama Specie bank,
d-the remainder by a local banking
apan has invested a part of her
Iance of trade in Great ritain in
Itish treasury notes. Three months
a it was learned that approximately
,000,000 of Japanese government
ids held in New York had been sent
London to be used in the purchase
these English treasury obligations.
.LTON GETS HEAVY SENTENCE
rroughs Bandit Again Pleads Guilty
and Faces Long Term
)etroit, Nov. 23.-James Walton, the
rroughs bandit, was sentenced
Judge Connolly in recorders court
from 12 and one-half to 25 years in
state prison at Jackson. The
ung bandit, who with two com-
nions robbed the Burroughs Adding
.chine company's pay car of $32,-
I in spectacular fashion last Au-
st, changed his plea again to guilty,
I threw himself on the mercy of
court.
['he severity of the sentence dazed
a for a time. but he quickly re-
rered and was apparently optimistic
.en officers led him back to the coun-
jail. He will be taken to Jackson
mediately. Mrs. Walton, who came
re from St. Louis to be near her
sband during the oredal of trial,
11 return to St. Louis to live with
atives during his confinement.
F. of )L. Against Military Training
Baltimore, Nov. 23.-After hot de-
te the American Federation of La-
r this afternoon adopted a resolution
ainst the teaching of military train-
g in the public schools. Secretary
ker's action in offering to place
litary instructors at the disposal of
hools desiring them was condemned
tending to "militarize" the schools.
"KEN" BOUCHER, BELL SOLO-
;T. AT ARMORY TONIGHT. 24
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AT THE THEATERS
s
w
s
s
s
TODAY
Majestic-Vaudeville.
Whitney-"Our Mrs.
ney."
Orpheum-Pauline Fred
"Ashes of Embers." A
Cartoons.
Arcade-OlgaPetrova,
travagance."
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MeChes- *
derick in *
.lso Bray *
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in "Ex- .
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AT THE WHITNEY
The convincing interpretation of a
keen, hustling, traveling saleswoman
given by Miss Stahl in "Our Mrs. Mc-
Chesney, to be seen at the Whitney
Theater tonight, is said to illustrate
a type of business woman frequently
met in real life.
The play is a dramatization of Edna
Ferber's delightful and much read
Emma McChesney stories. Miss Fer-
ber knows thoroughly the types of
which she writes and her Emma Mc-
Chesney, saleswoman for the Feather-
loom Petticoat, is one of her most
interesting characters. In the hands
of Miss Stahl, Emma McChesney really
lives.
Miss Stahl is under the manage-
ment of Charles Frohman and is sur-
rounded by a company including Ed-
ward Fieldi . H. St. James, Phil-
lips Tead,' rge Harcourt, Mildred
Barrett, Lavina Shannon, Dorothy
Allen, Dorothy Walters, Ida Davis,
May Wood, Thomas Reynolds, Ernest
Geyer, John Will, C. A. Williams,
Frank Wilson, and others.
NATION'S FINANCES ON
SLIGHT UPWARD TREND
Clearing Houses Show Gain of 44.3%
Over Figures of Last Year; Car
Shortage Delays Shipments
The United States seems without a
doubt to be caught in a wave of pros-
perity that is far from temporary in
character. Reports that have been re-
ceived during the last week show that
the state of trade is exceedingly ac-
tive. Stimulating features are in the
ascendant, new high level prices for
wheat, corn, oats, cotton, iron, steel,
and other metals, and the widespread
advances in wages being the most
significant. In a statement by Brad-
street's we find that "the chief com-
plaint is still, as for some time past,
the difficulty of obtaining merchandise
in sufficient quantity to satisfy buy-
ers." A policy of conservation is be-
ing preached with greater vigor than
before to avoid inflation and wild-cat
speculation but there is no doubt that
demand in all but a few cases is ac-
tive beyond precedent.
However, there are influences at
work that may in effect bring a slight-
ly more moderate state of trade. Not-
able among these is the decision of the
railroad managers to test the constitu-
tionality of the eight hour law. This
action has again caused the chiefs of
the railroad brotherhoods to hint at a
strike. The car shortage evil is still
in prominence and without question is
the source of much inconvenience and
delay to producers.
Nevertheless the general trend of
trade is forward. Dry goods, wearing
apparel, and general merchandise are
selling in immense quantities and the
grains are doing very well. A good
covering of snow in many cases is
proving very satisfactory to the crops
of winter wheat and is the first step
towards restoring the balance lost by
reason of this year's short crops.
Freezing weather in the western and
southern states is not expected to do
much damage as the crops are nearly
all harvested.
Bank clearings for the last few weeks
have established new records. The
gain at New York over last year is
44.3 per cent. One hundred and six
cities report increases over last year,
while eight exhibit losses.
Ann Arbor Nurse in Tuberculosis Work
Miss Mary Wilson, of Ann Arbor;
visiting nurse of the state of Michigan,
left Bad Axe the first of the week to
go to Frankfort, where she will re-
main one week. From there she will
go to Manistee to carry on the work
of the Michigan anti-tuberculosis asso-
ciation in that vicinity.
SOMETHING BIG AT ARMORY TO-
NIGHT. 24
Gabrilowlsch an
rtist of Depth
Ossip Gabrilowitsch, the gifted Russ-
ian pianist whose reputation is world
wide and who is ranked as among the
four or five leading pianists of the
world, will appear in Hill auditorium
Dec. 12.
It is fourteen years since this Russ-
ian genius visited America for the first
time, and the impression he made then
was very favorable.At that time he
was twenty-three years of age and a
player of wonderful freshness and fire.
Two years later he visited America
again, and once more showed himself
an ardent lover of beauty and an art-
ist of great intellectual depth. It was
not, however, until after Gabrilowitsch
had come to this country after another'
lapse of years that the critics deemed
him of full maturity as well as of in-
finite charm and brillancy. His re-
cord since that time has been one of
extreme interest as he has come into
prominence as conductor and compos-
er as well as executant. The orches-
tral concerts which he has conducted
in Europe have been in many ways
unique and have won him wide ac-
claim.
A prominent European critic writing
of the pianist said: "As Gabrilowitsch
has matured in years his art has
steadily advanced, while his temper-
amental ardor has remained undim-
ished. His technique seems even more
finely developed. He enters with such
virile spirit into his interpretations
that he carries the listener quite be-
yond his own preconceived imaginings.
Such a player would awaken the most
unmusical audience to a sense of
beauty."
FOLD SECOND DEBATE TRYOUT
Contestants for, Central League Team
Meet Tomorrow Afternoon
The second elimination tryouts for
the Central League debate will be
held in room 302 Mason Hall at 2
o'clock Saturday afternoon. At that
time each contestant will present a
complete brief on either the affirma-
tive or the negative side of the in-
heritance tax question and will de-
liver a five-minute speech on any one
point covered in the brief. The judges
then have the privilege of question-
ing the speaker on any phase of the
question, thus testing both his knowl-
edge of the question and his ability
at rebuttal.
The following men will speak:
W. T. Adams, '17, R. M. Carson, '17,
G. C. Claassen '17L, G. W. Hulbert, '17,
A. R. Levine, '19L, L. W. Lisle, '17L,
H. F. Massnick, '18, Joseph Matson,
'19L, H. A. McCrimmon, '18L, W. P.
Sandford, '19, J. R. Simpson, '18, H. B.
Teegarden, '17. I. S. Toplon, '19L, W.
W. Visscher, '18L, R. W. Ward, '18, M.
W. Welch, '17.
ADDITIONAL SPORT
RIFLE TEAM BEGINS SEASON
NEAR END OF FIRST SEMESTER
The last week in January has been
set aside as the time for the rifle team
to make its debut. The Wolverine
sharpshooters will engage in 13
matches altogether and will meet some
of the best aggregations in the coun-
try. Thirteen weeks will be consumed
in shooting off the entire schedule.
Next week the rifle club will start
building a regulation range in the
Waterman gymnasium. Prof. C. E. Wil-
son of the engineering college will
watch the team practice here. Only
members of the team and those who
bave affiliated themselves with the club
will be permitted to use the range.
TRAINER TUTHILL IS RETAINED
(Continued from page three)
sible condition that his services have
been secured to the University for an-
other season by the athletic associa-
tion.
Much of the team's success has been
due to the good condition of the play-
ers and Tuthill is the man who re-
ceives this credit. Tuthill's retention
is the expected and logical outcome of
his work this season.
Fresh Lits to Play Soph Engineers
The football game between the fresh
lits and the . soph engineers has been
postponed until Saturday afternoon.
SOPil ENGINEERS TO INSPECT
DETROIT INDUSTRIAL PLANTS
Sophomore engineers who are en-
rolled in course one in engineering ma-
terials, accompanied by Prof. W. L.
Badger and Dr. Laird, will leave Ann
Arbor on the 5:35 Michigan Central
train tomorrow morning for Detroit,
where the party will visit the follow-
ing manufacturing plants: The Tim-
ken-Detroit Axle company, where the
heat treatment of steel automobile
parts will be noted; the Michigan Steel
Castings company, the Semet-Solvay
company, manufacturers of coke with
recovery of by-products; the Detroit
Iron and Steel company, and the Mich-
igan Malleable Iron company. The
visiting party will number about 100.
The seniors of the metallurgy de-
partment accompanied by Prof. A. E.
White will also leave with the party of
sophomores to visit the plant of the
Parkard Motor company and that of
the Ford Motor company, where a spe-
cial study of the heat treatment of
steel will be made.
Try a Michigan Daily Want Ad.
ENGINEERING NEWS
At their class meeting yesterday the
senior architects decided to dedicate
the architects' section of the Michigan-
ensian to Prof. J. J. A. Rousseau. Prof.
Rousseau was formerly a member of
the faculty of the Ecole des Beaux
Arts, in Paris, but owing to the lack
of students on account of the war, he
has come to this country for the dura-
tion of the conflict.
A novel scheme for the decoration of
the class canes was also adopted. The
members of the class will carve their
names on each other's canes,. and as
there are 25 men in the class, the
canes will be well covered with "trade
marka."
The seniors further decided not to
wear corduroys, but instead a commit-
tee will be appointed by the president
to devise some distinctive hats or
coats for the class.
A class dinner will be held in about
two weeks, the speakers and commit-
tee for which will be announced short-
ly.
The freshman architects will hold a
class meeting tomorrow afternoon at 3
o'clock in room 311.
The Camp Davis film exchange is to
be closed within a few days. Members
who have not sent in their pictures
should do so immediately in order that
the sample album may be made up.
A padlocked box has been installed
in the Engineering society's room, and
the photos can be safely left in this
receptacle. The films should be en-
closed in a sealed envelope on which
should be written the name of the
sender and the number of film ex-
posures enclosed.
FISCHER'S SEPTET AT ARMORY
TONIGHT. 24
AT THE MAJESTIC
"The Magazine Girls," headlining
the Majestic this week, and Morris
Golden, "The Yiddle with the Fiddle"''
saves the Majestic this week from en-
tirely presenting vaudeville of the or-
dinary sort. Morris Golden, a wizard
with the violin, and with a line of or-
iginal patter that gains more of its
value from what he does not say than
by what he does say, is really some-
thing new in the line of light enter-
tainment. His is the best single act
seen thus far this season.
"The Magazine Girls", six of them,
supported by Doc Baker and Elaine,
Julyette, present a fast-moving musi-
cal comedy playlet that is greatly aid-
ed by brilliant costumes and some
quick changes.
Tilford & Co., in "Abe Stibble" a{
ventriloquist act, amused some to
whom the marvel of "speaking by
proxy" was new.
The Barry Girls gave one good num-
ber, their Chinese song, but the patter
was slow-moving, and while perhaps
new, was possessed of very little
laughable qualities.
Bell and Eva, opening the bill, in
"Bounds and Bounces" work hard and
were given a generous hand for their
endeavors.
WOMEN LAUD LABOR CLEARING
HOUSE PROJECT AT BIG MEETING
Immigration Commissioner Says Plan
Will Solve Existing Em-
ployment Condition
Chicago, Nov. 23.-Plans for a na-
tional clearing house for labor, to be
conducted in connection with the gov-
ernment immigration stations, were
indorsed by the representatives of 120
Illinois women's organizations at a
conference held in the government im-
migration station and employment of-
fice yesterday.
Anthony Caminetti, commissioner
general of immigration, said the plan
would solve to a great extent the un-
employment problem.
Commissioner Caminetti is now mak-
ing a tour through the country to ob
tam the support of women's organiza-
tions. Before leaving for St. Louis,
he said campaigns to further the young
men's and boys' and the professional
service departments will be set on
foot, as soon as the women's depart-
ment has been properly arranged.
At the conference, Caminetti urged
the opening of employment bureaus in
all cities where men, women, and chil-
dren could obtain work. The national
bureau will have two units, one to
handle immigration and the other em-
ployment. All applicants for positions
will be examined as to their qualifica-
tions before being sent to a prospec-
tive employer and all employers will
be investigated before anybody will be
sent to them.
A resolution was passed indorsing
the government's employment bureau
for women.
Dancing classes and private lessons
at the Packard Academy. 18-tf
5 l bs. Candy
for a
We will give five
pounds of
For the best verse
of six lines or a verse
Leave your film at the Delta.
hour service.
2'4
How about the bit of shirt that peeks out
between top of vest and edge of collar-
in parody on
Poe's Raven
Recommending it.
Does it reflect
a
personal note of pride
and good taste or is it
indicative of careless-
ness and poor judge-
' Ic
{
{ , !
I,
-- '
" o
. D
..,
" "
, ,/
If it is a "Bates"
shirt, you are assured
of the fact that it is all
right in every pattic-
3 lbs.l
for second best.
Post by mail, sealed
ular.
envelope.
ment?
CLOSING DATE
DEC. 7
Get Acquainted with Bates Street Shirts
And your acquaintance will soon develope admiration, for
Bates Shirts embody all the qualities that invoke the admiration of
all well dressed men. Patterns innumberable--the kind young men
like to wear; quality unquestionably and sizes for every man. These
shirts are shown in a great variety of prices, ranging from $1.50.
Commutte from stu-
dent
publications
will give the deci-
sign.
GET BUSY
No other store in Ann Arbor carries the Bates-Street shirts.
exclusive selling rights.
We have the
309
So. Main
FredWv
814
eGross So. State
BUSY- DEE
I ,