Evening star. [volume], July 04, 1930, Page A-9, Image 9

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
WHEAT ACREAGE
REDUCTION URGED
Every Sign Points to Lower
World Grain Prices the
Next Seven Years.
BY JOHN r. SINCLAIR.
"Mr. Farmer, cut your wheat acre
»f?e!”
Again this warning goes out from Ar
thur M. Hyde, Secretary of Agriculture,
•nd Alexander Legge, chairman of the
Farm Board, in opening a new cam
paign for acreage reduction.
The report of the Bureau of Agricul
tural Economists, dealing with this sub
ject, suggests that every sign points to
lower wheat prices during the next
seven years, as compared with prices
during the last seven years.
The world expansion of wheat acre
age is largely responsible for cheap
prices. In the United States, the South
western Winter w’heat States show an
Increase of 4,000,000 acres from 1924 to
1929. Canada. Argentina and Australia
have increased their acreage during the
•ame period of 10,000,000 acres.
Since 1910 the United States, Argen
tina, Canada and Australia together
have increased their wheat acreage 32,-
000.000 acres.
There seems to be only one solution
lor cheap prices—to cut acreage down
to a point where little or no wheat ex
port is necessary by the wheat farmers
of the United States.
So this new campaign, inaugurated
by the Farm Board and the Department
of Agriculture, ainat to tell this story
to every grower of wheat in the United
Elates.
Norman Beasley's new book. "Freight
ers of Fortune,” is the story of the Great
Lakes and their importance in opening
And pioneering the great Middle West.
"Romance. Tragedy. Drama.—The
lake* have furnished all," says Mr.
Beasley. "The canoes of the Senecas
have glided over them: ships have
plunged Into great depths; soldiers of
France, Spain and England and the
United States have fought for their
possession.
"And, now, for more than 100 years,
two nations, living side by side, have
shared them and have built a pageant
of traffic, the like of which is seen
nowhere else in the world. Across them
every year, moves a tonnage that is
many times greater than that which
passes through the Suez Canal, where
meets the trails of the world.”
It's a fascinating story, told in a
most delightful manner by one who has
lived his “Lakes” and writes exceed
ingly well of the spirit of the great
adventure.
Truly "the romance of today Is the
tomance of men who have built an
unparalleled commerce.”
When the bottom of the 1821 depres
aon had been reached, industrial stocks
were selling on a basis to yield almost
8 per cent—one authoritative sta
tistician puts the yield at 8.92 per cent.
How does this compare with yields
now? High-grade bonds today are sell
ing to yield 4:53 per cent, preferred
stocks, 5.56; industrial common stocks,
6.32; rails, 6.74, and public utilities, 3.25
per cent.
So there Is plenty of leeway yet for
a reorganization, providing one believes
In the mystic "6 per cent return.”
While the depression has now run
nearly a year, nobody can foretell yet
which way the current will go, up or
down. Some are predicting a rise and
some still hold to the belief that we
are in for more decline.
In all calculations, however, one must
remember that while production Is on
a lower basis than before, consumption
has not been restricted anywhere like
the same percentage. Hence it’s be
come a matter of time when one catches
up with the other. But when? This
tune factor, however, economists and
experts don’t seem to agree upon.
(Copyright, 1830.)
COTTON EXCHANGES
QUIET DURING WEEK
General Business Is Restricted by
Approach of Long Fourth
of July Holiday.
Br the Associated Press.
NEW YORK. July 4—The cotton
market was comparatively quiet during
the week. There was further evening
up of the July position, but the trad
ing in the near month became much
less active after the first notice day,
and general business seemed to be re
stricted by the approach of a three
day adjournment for over Independence
day and the week end.
At the beginning of the week ex
cessively high temperatures in the South
and complaints of dry weather in some
Central and Western belt sections ap
peared to bring in some buying. This
was supplied on comparatively moderate
advances, however, while moderating
temperatures and showers or rains in
the South were reassuring as to crop
progress later.
Additional July notices were issued
from day to day. but for small amounts
and appeared to be readily stopped, pre
sumably by the same interests who had
taken up cotton on the May contracts.
Circulation of these notices led to some
further switching from near to late
months, which, however, appeared to
be without much effect on the general
level of values.
The private end-June crop reports so
far as published up to the close today
pointed, on the average, to a decrease
of about 3,5 per cent in acreage and to
an end-June condition of 71.3 per cent,
compared with 71.4 per cent at the end
of June, last year. Four of these re
ports carried figures on the indicated
crop which ranged from 14,150.000 up
to 15.061,000 bales, and averaged 14,-
670,000.
FIRST ACCIDENT'
AT “DEATH TRAP”
Two Hurt a* Auto Hits Fence at
Narrowing Point of Alex
andria Road.
•pecml Dlspttrh to The Star.
ALEXANDRIA. Va, July 4—The
first serious accident at the "death
trap” terminus of the wide portion of
thp Washlngton-Alexandrta highway, at
the Alexandria city line at Four-mile
Run, occurred at an early hour thLs
morning, when two persons were hurt
and their auto badly damaged in a
collision with the safety fence where
the road suddenly reduces to one-half
Its former width.
Fred Hastey, 1633 W. Lanvale street,
Baltimore, Md.. and Viola Hastey of the
same address, received cuts and bruises
in the collision. Their auto was
wrecked, as was a portion of the con
crete bridge over the run.
Only yesterday an additional safety
fence was stretched across this point in
tfce road, and it is thought that had it
not been for this additional fence the
car would have plunged over the em
bankment into the creek below.
PARIS BOURSE PRICES.
PARIB. July 4 (/P). —Price* were steady
on the Bourse today. Three per cent
rentes. 87 francs 10 centimes. Five per
oent loan, 102 francs 5 centimes. Ex
change on Inn don, 123 francs 67 ‘j
'centimes. The dollar was quoted at 25
(sanea 42% centimes.
financial.
HURT IN AUTO CRASH
Frank Lee Appleby's Motor Car in
I Collision With Dr. Bowman’s.
Special Dispatch to Tha Star.
I SILVER SPRINO, Md.. July 4
Frank Lee Appleby of this place was
injured about the head and body in a
collision of his auto this morning at
, South Georgia avenue and the Coles
vtlle pike with a machine driven by Dr.
David D. Bowman of Washington. He
was sent to the Walter Reed General
Hospital after being looked over by Dr.
Bowman, who was unhurt. L. L.
Chamblin, who was with Dr. Bowman,
w-as not Injured.
STEEL ORDERS OFF
IN THIRD QUARTER
Slump in Automobile Demand
Is Biggest Factor in
Present Conditions.
Special Dispatch to The Star.
CLEVELAND, July 4. —Steel produc
ers enter the third quarter with no
illusions concerning the early part of it,
says Steel, formerly iron Trade Review.
Automotive demand for steel is at the
vanishing point, with Ford closing from
July 11 to 28, Chevrolet down to a
three-day week and most other makers
curtailing. Railroad business on mill
books is nil. While structural awards
are moderately good and pipe output is
excellent, these divisions of the indus
try merely continue June levels.
July, therefore, is a month which
producers themselves concede the sooner
past the better. Partially because this
month threatens to dip so sharply, there
is some opinion that a modest rebound
will develop in August. For one thing,
automotive manufacturers who are out
of the market thLs month should be
back in a modest way next month.
Also, many consumers have permitted
their inventories to dwindle to the point
where some replenishment becomes im
perative.
Early Rebound Held Unlikely.
But no great hopes are predicated on
this rebound. In the frank spirit with
which it now views the situation, the
steel Industry cannot vision a really
virile market without a decisive come
back In buying by the railroads and the
automotive industry. There is nothing
now In the general situation to warrant
expectations that a general recrudes
cence of buying power will materially
quicken these major consumers of steel
in the next few months.
While the trend of steelmaking oper
ations continues downward, the true
situation Is obscured by July 4 shut
downs. Many finishing departments
will be off all week, depressing this
week's rate abnormally and resulting in
a disproportionately higher one next
week, due to a probable accumulation
of orders.
Steady deterioration in the steelmak
ing rate has more than its counterpart
in pig iron. An estimate for June show*
a net loss of 20 active stacks during the
month, only 160 being active June 30.
June’s daily rate of 97.972 gross tons
was 6.3 per cent below that of May.
The June output of 2,939,172 gross tons
gave the first half a total of 18,309.278
tons, a marked shrinkage from the 21,-
637,537 tons of 1929, but within dis
tance of the 18,510.463 tons of 1928.
Pig Iron buying continues light.
June Car Orders Disappointing.
When the railroads bought only 900
freight cars in June they did the small
est business since last July. For six
months of 1930 car orders approximate
40,000. against 62,700 in the first half
of 1929 and 28,300 in 1928. Norfolk to
Western will build 500 box cars in its
Roanoke, Va., ahops.
Steel continues in identic form the
composite market average developed
and carried along for many years by
Iron Trade Review. Weakness in pig
Iron at Cleveland and nails and bars at
Pittsburgh lowers the average 10 cents
this week, to $33.34, compared with
$33.53 for June.
courtfixelbonds
OF INDICTED BANKERS
Officeri of Norfolk Trait Co. Muit
Furinsh $5,000 —Other*
$2,500 Security.
By the Associated Brass.
NORFOLK. Va., July 4 Bail bonds
of $5,000 each for three Indicted officers
of the Guaranty Title to Trust Corpo
ration were agreed upon today at a
conference of attorneys, Common
wealth’s Attorney Harry E. McCoy and
Judge William H. Sargent, who will try
the cases.
Smaller bonds will be required in the
case of four employes of the corpora
tion who were also indicted last night
by a special grand Jury at the com
pletion of the Investigation of the af
fairs of the concern which failed last
June with liabilities estimated at $16,-
000.000. Assets were placed at more
than $17,000,000, including numerous
mortgages on real estate in Virginia
and North Carolina.
Those for whom bond of $5,000 was
fixed are: A. P. Grice, who was presi
dent of the corporation: V. A. Butte,
vice president, and John S. Persons,
treasurer. It was indicated that bonds
of $2,000 to $2,500 would be accepted
for A. H. Callow of the bond depart
ment; J. H. Tatem, his assistant; F.
W. McKinney, loan representative of
the company in North Carolina, and
C. F. Mears of the real estate depart
ment. The grand Jury* returned a total
of 134 true bills against the seven per
sons, 130 alleging grand larceny and 4
violations of the State banking laws.
■ ——■■ •-
ALEXANDRIA.
ALEXANDRIA. Va., July 4 (Special).
—Elmer Beasley, 27, colored, ,of Wash
j ington was arrested here yesterday
afternoon by Stationkeeper Julian Raw-
I iett on charges of felonious assault,
I housebreaking and larceny. He is said
to have stabbed Eddie Carter, colored,
a few days ago and is also accused of
entering the home of Georgia Price and
taking clothing.
The will of Charles R. Craddock.
Southern Railway engineer, who mur
dered his wife, Mrs. Blanche Craddock,
and committed suicide in Washington
a few days ago, was admitted to pro
bate In Corporation Court here yester
day. Dated March 3. 1930. it. disclosed
an estate valued at $25,445.89, includ
ing an apartment house and cash in
bank.
The entire estate Ls left to the two
children, Alice, 10, and Charles Robert,
8. The testator’s brother, E. Wither*
Craddock, was named executor and
guardian of the children. As he is a
resident of North Carolina, William A.
Craddock, another brother, who rcsidaa
here, also was named.
Dan S. Hollenga, business manager
of the Chamber of Commerce, will ad
, dress the Business and Professional
Women's Club Tuesday evening at the
George Mason Hotel.
Boy Bcouts will hold their Independ
. ence day celebration at Dripping Springs
this afternoon. Preceding this will be
a parade, which will form on the 100
block North Washington street and go
directly to camp. Contests will be held
r this afternoon and evening.
l
r Judge Higgins of London recently re
• ported that his wig and gown, a neces
. sary part of tha costumes,, of English
> judges, had been stolen from the court
room.
* THE EVENING STAR. WASHINGTON, D. C., FRIDAY. JULY 4. 1930.
OBJECTORS’ TIME
GIVEN EXTENSION
Trade Commission Allows
Delay for Considering
Practice Revision.
By the Associated Press.
The Federal Trade Commission has
formally acceded to the request of trade
practice conference* and will grant a
delay -of 30 days from next September
25 in w'hlch to file objections in writ
ing to changes or modifications of ex
isting laws,
The request was forwarded to Chair
man Ferguson of the commission by
Abram Myers, chairman of the standing
committee of approximately 100 indus
tries. which already have held trade
practice conferences, on the ground
that such delay would enable the vari
ous industries to compare notes as to
the practicability of rules now in force,
which, in turn, would enable the com
mission to proceed on facts rather
than opinions.
Those industries which have held
trade practice conferences will meet in
Niagara Falls late in September in con
junction with the annual convention of
the American Trade Association execu
tives, where a concrete working sched
ule will be arranged.
, The succinct purpose of the various '
trade conferences is to elevate compe
tition among allied industries to the
highest point of ethics and efficiency.
In the main, trade practices consist of
two groups of rules—those that nave
been acted on by the courts and another
group yet to be so recognized.
In carrying out a recent executive
order of the President withdrawing oil
shale lands from lease or other dis
posal, the Interior Department has is
sued the following order to land offices:
"By executive order and subject to
valid existing rights, the deposits of oil
shale and lands containing such de
posits owned by tha United States were
temporarily withdrawn from lease or
other disposal and reserved for the
purpose of investigation, examination
and classification.
"In order to identify for administra
tive purposes the known areas affected
by the order, the Secretary has ap
proved maps prepared by the Geological
Survey designating the lands contain
ing oil shale of recognized commercial
Importance in Colorado, Wyoming and
Utah.
"The oil shale deposits and the lands
so designated, title to which ls In the
United States, are by the order with
drawn from lease, entry, selection or
other forms of disposal, and you will
therefore reject all applications for such
mining claims or applications under
other public land law's which are based
on claims to the land* initiated prior
to the date of the withdrawal (April
15, 1930).
"Lands not designated on the map
as oil shale, but which are, in fact, valu
able for their oil shale deposits, are
also withdrawn by said order. Affirm
ative proof of the non-oil shale char
acter of lands not designated on the
maps as oil shale, other than the regular
non-mineral affidavit, will not be re
quired.
"However, if your records show anv
land not designated to be in fact oil
shale in character, you will reject any
application therefor. Any entry, filing
or selection allowed for lands which are
thereafter and prior to patent found to
be valuable for oil shale will be subject !
to cancellation by appropriate proceed
ings.”
The Federal Trade Commission’s In
quiry into the financial structure ol
public utility companies will be deferred
until the middle of September.
A spokesman for the commission said
today that operating companies of the
Electric Bond to Share Co. will be heard
at that time in addition to other groups,
Including the North American Co., which
gained an extension some weeks ago.
Following the wave of mergers and
consolidations In other lines of Italian
industry, two of the largest shipbuild
ing companies have now been brought
under one management by the Banca
Commerciale and its allied Interests.
The tw'o yards In question are the
Cantiere Navale Trientlna di Monfal
cone and the Stabllmento Teenico Tries
tlno, together writh the subsidiary Can
tiere Navale San Rocco.
The first of these plants, the Com-1
merce Department says, la at the head
TcWhioii Shcp
am soHfoat"
r-TrA Saturday
CTDAY\ On/y.'
11 Only A >pen All Day ||
.1 Well worth a special
vjßft MjL \ trip downtown tomor
uttft a. J row for these Bar-
Mu Rains! All regular
TOVa— merchandise ’way un
■der price.
Saturday Only! Saturday Only/
Special Group of R eg . $ 2 .95, $2.50, $1.95
IMPORTED IRISH ouID T O
LINEN SUITS OnlK 1 5
Were sls _ Broken
Slightly soiled $ / «95 M£Z 4*
from handling. No f Reduced BB
alterations ™ #o
ADDITIONAL BARGAINS from
our HALF-YEARLY SALE
$1 and Si.so rn.
NECKTIES uiH
s7.so, $0.50 AND $5.50 FAMOUS MeGREGOR CQ QC
ALL-WOOL SPORT SWEATERS
$2.50 WHITE ENGLISH BROADCLOTH SHIRTS. Also SPI rr
plain shades of Blue, Tan, Green and Grey
$2.95 4 $1.95 FAULTLESS Cl CQ
NO-BELT PAJAMAS Ol*D“
S4O DOUBLE WEAR SUITS. Plenty of light colors and OJOO 7C
light weights for Summer wear fw> Id
TROPICAL WORSTED SUITS. CIC 7C
Reduced to vlO»/D
BROWN AND BLACK STRIPED nr
WHITE SERGE TROUSERS + OO.jD
of the Gulf of Trieste, founded to 1908
and capitalized at 100,000,000 lire. The
other was founded in 1913 writh capital
of 60.000.000 lire, and while successful
technically, its financial position has al
ways been difficult, and recently has
been continued as solvent only through
the courtesy of its creditors end the de
sire of every one Interested in the wel
fare of Trieste not to allow it to go out
of existence.
Under the plan of reorganization and
consolidation prepared by the Banca
Commerciale, the combined capitaliza
tion of these companies, amounting to
165.000,000 lire, will be written down to
76,000.000 lire end then raised to 100,-
000,000 lire through the furnishing of
24.000,000 by the bank and its asso
ciates, among whom, to addition to
the Cosulich shipping interests, will be
found a number of principal Italian
firms concerned in shipbuilding supplies
and equipment.
Shipments of railroad locomotives
from principal manufacturing plants
during the first half of 1930 amounted
to 419, as compared with 319 for the
same period of last year.
The consignments consisted of 402
steam and 6 electric engines for domes
tic demand
demand.
Silver imports into India during the
seven days ending June 27 totaled 1,-
631,000 ounces, all of which came from
London. The preceding seven days’ im
ports totaled 2,318,000 ounces.
Sliver stocks on June 27 were esti
mated at 2.400 bars, as compared with
3.100 on June 20. Total offtake for the
seven days ending June 27 was 2,500
bars. The market is reported by the
Commerce Department as slightly
steadier with a better demand.
WHOLESALE TRADE
IS REPORTED QUIET
Buying; for Vaoation Needs Has
Helped Retail Business, Brad
street’s B«view Sayi.
By the Associated Pres*.
NEW YORK, July 4.—Bradstreet’s
says: Warm weather and buying for
vacation need* have been the ehlef con
tributors to activity In trade. This
mainly at retail, whereas wholesale and
jobbing trade have tended to quiet ex
cept for the usual mid-year sales to
close out seasonal goods. Industry has
reflected quieting down cither for the
period of the holidays or for longer
curtailments earlier planned. In the
iron and steel trade the first half of
July ls likely to see a good deal of Idle
machinery, advance notice of this being
given by a further definite Blowing down
to about 60 per cent of full operations,
this comparing with about 95 per cent
ruling before the holiday a year ago,
when a record half year’s output was
being scored. In this industry, however,
there seems to be more optimism than
in some other lines, this based partly
on seasonal shutdowns helping to re
duce stocks and partly on the fact that
price changes recently have been few.
Another Industry In which there 1$
promise of considerable quiet, for a
while at least, ls lumber, where present
capacity is reckoned at from 60 to 60
per cent of normal.
Bank clearings not issued.
boydgraln elevator
BURNED, LOSS SB,OOO
«B>
Fire of Undetermined Origin De
stroy* Warehouse—Safe and
Conteati Saved.
Special Dispatch to The Ster.
BOYD, Md„ July 4.—Firs of unde
termined origin early today destroyed
the grain elevator and warehouse of
Hambrlll to Oarlln at a loss of between
SB,OOO and SIO,OOO. Twenty-one hun
dred bushels of wheat were In the
structure. The loss was partly covered
by Insurance.
Firemen dragged a safe from the
ruins with chains when the walla col
lapsed and $250 in cash and valuable
papers were found intact. The Balti
more to Ohio fire force reached the
scene with Its tank In time to prevent
j nearby buildings from being destroyed.
The Rockville and Gaithersburg Fire
I Departments aided, being handicapped
by lack of water to fight the flames.
CHICAGO TRACTION
PROGRAM IS LARGE
Spending of $200,OCX),000
for Transportation in Ten
Years Planned in City.
By the Associated Prtsa.
CHICAGO. July 4 —The expenditure
of many millions for extension and
equipment, following popular ratification
of Chicago's traction ordinance, is ex
pected to mitigate the unemployment
situation.
The legislation, approved at a special
election, calls for a minimum expendi
ture of $200,000,000 over a 10-year
period. More than half of that amount
will be spent in the next three years
for new cars, a subway and extensions
of the surface and elevated lines.
Work will be begun within a few
weeks, the officials of the surface and
“L” lines promised. For two months
engineers and draftsmen have been
working on plans and specifications for
the huge project. This preliminary
work largely has been completed.
Besides the huge drain on the labor
market, the acceptance of the traction
unification and extension ordinance as
sured the letting of large contracts for
materials.
At the peak of construction it Is es
timated that approximately 50,000 men
will be needed to push two bores of a
subway system under the downtown
district, lay tracks for surface and ele
vated line extensions and build sta
tions. •
Will Lift Realty Values.
Through the opening up of new ter
ritory In the city's environs and the
Improvement of transportation facilities
in avery section of the metropolitan
area, it Is predicted real estate values
will be raised *1,000.000,000.
An Immediate reaction to the favor
able referendum was an advance In the
stocks and bonds of the street railway
companies—securities that had been
dormant. All of them advanced 1 to 5
points, dssplte the fact that most of
them have not yielded a dividend in
years.
In building the 64 miles of elevated
and subway trackage and *OO miles of
surface lines, more than 550,000 tons of
structural steel will be used. Other
Items in the traction building program
include 1,500,000 cubic yards of con
crete, 4,000,000 cubic yards of excava
tion, 100,000 tons of steel rails, 40,000,-
000 feet of track timber and 40,000,000
feet of construction timber.
One thousand steel cars for elevated
and subway lines are to be ordered and
1,000 steel cars for the surface system.
Problem for 20 Tears.
The Chicago traction problem has
puzzled civic leaders and city councils
for 20 years. At one time there were
three companies operating elevated
lines and three operating surface sys
tems. Municipal ownership was a per
sistent threat to the private owners.
In 1918 and again In 1925 municipal
ownership referendum! were rejected.
Samuel Insull consolidated the ele
vated roads Into one system and one of
the surface lines went into Federal re
ceivership after the other company had
absorbed the third. All of the trans
portation lines, which will be merged
under the new ordinance, were evalu
ated at $260,000,000.
The ordinance provides that transfers
may be made from the elevated and
subway lines to surface cars without
an extra charge, but in tranferring from
surface cars to elevated an addition
charge of 3 cents will be made. “L"
fares art 10 cents and surface fares 7
cents.
STOCK IS EXCHANGED.
NEW YORK. July 4 (/P).— All com
mon stock of Schweitzer & Conrod, Inc.,
of Chicago, has been acquired by the
Cutler Hammer Manufacturing Co.
through an exchange of stock, the basis
of which was not disclosed. The
Schweitzer Co., manufacturers of high
voltage equipment, does an annual busi
ness of approximately *1,600,000.
FAILURES INCREASE.
NEW YORK, July 4 <JP). —Commer-
cial failures In the United States for
the week, with returns covering only
five business days because of the July
4 holiday, totaled 435, the high for the
season, and compared with 338 a year
ago, R. G. Dun it Co. reports. In
creases appeared in all geographical
sections of the country.
Specializing in Real
Estate Investments
JAMES Y. PENNEBAKER
Nat. 5291 1520 K St. N.W.
I Offices
Saul Building:
925 15th St. N.W.
Several desirable rooms at
very reasonable rents. Inspec-
I tion invited.
B. F. SAUL CO.
Nat 2100 925 Isth St N.W.
su.^2
V' Pittsfield, Mass. Q?
A Standard Low Premium Policy
far
Business and Professional Men
Detail* on Roqueet
F. T. Koons, General Agent
Union Trust Bldg. Nat. 1015
REAL ESTATE LOANS I
Made at Low Interest Rates
TYLER & RUTHERFORD
application* Invited on Mfh-eloio
apartment* and dwallinss, and partita
lari* on wall located bnalnca* properties. I
for S. 6 or 10 *esro. If ao dealrad.
1520 K St. N.W. National 0475
Money to Loan
Saenrad hr Brat deed of tract on roal estate,
rraralllof lateraat and commission.
Joteph 1. Weller 'i % TTw
y Property « >
< ► Management < ►
l Over 30 years* sue- i .
i cessful handling of < *
i > rents—economical con- < *
► sideration for owners. . ►
< ► Personal attention . ►
► to details and prompt 5 >
4 y remittances. ,
i y Also facilities for < >
< > financing. i
< \ Moore & Hill, Inc. 4 *
i ' (Sine* 1966) < *
i * 730 17th Street >
ALEXANDRIA TO GET
: ZOIGBOARD
I Planning Commission Asked
of Court by City Council.
Power Franchise Delayed.
Special Dispatch to Tho Btar.
i ALEXANDRIA, Va, July 4—A park
and planning commission will be ap
pointed here in the next few days, and,
, with the aid of experts, will undertake
the task of properly planning and zon
£ ty - At ; he regular meeting
of City Council yesterday a resolution
S’ as «f d ?, pt^d .' callJjn g °n Judge William
P. Woolls of the Corporation Court to
appoint the commission.
’ need for this commission and
the proper zoning of the city was point
ed out by eouncilmen before the adop
-1 the resolution, and particular
point was made of the recent petitions
ror the establishment of business places
in residential sections, particularly Rose
mont, which the proper zoning of the
city would automatlcall put ao end to.
Due to the fact that but three of the
five eouncilmen were present at yester
day’s meeting, the matter of awarding
the electric light and power franchise
was delayed and a special meeting was
set lor next Wednesday afternoon.
In connection with the granting of
the new electric franchise, petition was
presented council by Col. Charles B.
Moore, of 207 Prince street, bearing a
large number of signatures, ealling on
council to demand that proper steps be
taken to correct the alleged smoke
nuisance now coming from the electric
power plant at the foot of Wolfe street.
This was received and It was announced
that the Virginia Public Service Co.
now had engineers here studying the
matter and that they were expected to
take proper steps to remedy the situ
ation.
A resolution was Introduced and
passed requesting Attorney James R.
Caton, who will celebrate his fiftieth
anniversary as a member of the local
bar on July 12, to permit council to
have published In pamphlet form the
series of articles which he has been
publishing from time to time, entitled
“Jottings From the Annals of Virginia
and Alexandria."
The council received the resignation
of Arthur Herbert as a member of the
city school board, Herbert being a
councilman-elect. This was accepted.
A communication was received from
the city school board recommending
the appointment of R. H. C. Beverley,
assistant superintendent of tests of the
local department of the Southern Rail
way Co.
First Mortgage Loans
In Arlington County and
Alexandria, Virginia
Commonwealth Investment
Co., Inc.
SOS ISth at. N.W. Phona National KM
Mortgag 9 Loan Correspondent for
The Prudential Insurance Co.
of America
Money on Hand to Loan on
First Deed of Trust
6 % Interest
Reasonable Commission and
Prompt Replies to
Applications
JAMES F. SHEA
643 Louisiana Ave. N.W.
24-Hour Parking
Basement at Investment Bids.
ISth B K St*. Met. 7MI
6% LOANS
ON HOMES
and
Business Property
Run for 5 Years
Without Curtailment
Wm. H. Saunders Co., Inc.
Founded 1887
District 1016 1519 K
Loan Correspondent for tho
Provident Mutual Life Insurance
Company of Philadelphia
High Character
Mortgages
You may enjoy positive
safety and an unfailing income
if you choose Guaranty First
Mortgages.
In denominations as low as 1250
Real Estate
Mortgage & Guaranty
Corporation
Capital Resources $3£00,000
24 JACKSON PLACE
I Bring Your Real Estate
Loan Problem to Us—
We Can Quickly
Arrange it for You
3, 5 or 10
Year Loans
On Improved
Real Estate
IN
Nearby Montgomery
County end the
District of Columbia
Lowest Interest
Rates
bos««eips
loan Correspondent
John Hancock Mutual Ufa
Insurance Co,
1417 K St. Nstional 9300
SHIPMENTS INCREASE.
NEW YORK. July 4 (JP).— Baldwin
Locomotive Works shipments for the
first half of 1930 totaled $17,470,000,
compared with $8,590,000 In the like
period last year. Shipments in June
were $3,290,000. compared with $1,100,-
000 in June. 1929. New business booked
in June this year was $582,000. com
pared with $504,000 in the like month
| last year. Business booked in the first
1 half of this year amounted to $9,-
370.000. against $17,420,000 in the cor
responding period of 1929. Unfilled or
ders July 1 amounted to $14,830,000,
compared with $14,130,000 July 1, 1929.
Equitable Co-operative Bldg. Assn
Organised 1879 50th TEAR COMPLETED
JOHN JOY EDKON. President WALTER *. PRATT. Jr„ Secretary
Assets $5.723.982.Cl Surplus A Profits $1,735,911.57
Subccription for the 99th Icsue of Stock Being Received
Cultivate
Thrift! Uv Come In
■±f $ 0.50 * nd let
; Aw«k,one W */= Wu> «pl.l„
; by without “ U. our plan
•omethlnt Per £
put away is Share! M
* saving!
\ ~7
Metropolitan Life Insurance
Company
REAL ESTATE LOANS
AVAILABLE
Long Term Low Interest Rates
Consult
U/EAVER BROC
rr REALTORS vJ
809 15th St. N.W. District 9486
Mortgagt Loan Correspondant
Metropolitan Lisa Insurance Company
- ..TT--T - ‘T i l—■ ■- ■
Sctfe^Profitable*’Convenient
First Mortgage Notes
secured on conservatively ap
praised properties in the District
of Columbia and adjacent Mary
land suburbs. Permit us to offer
our facilities for the placing of
your investment funds . . . Par
ticulars of available notes
mailed on request.
H. L. Rust Company
1001 Fifteenth Street National 8100
BSTABLISHEn 18*9
AN ALWAYS
COMPUTABLE
©INVESTMENT
When you come to figure up
your assets the money invested
6% FIRST MORTGAGES
Over a Third can he appraised at full value—
of a for throughout the term of the
Century mortgage this 6% will come to
Without a you regularly at every interest
Loss period.
May be purchased in amounts
from $250 up.
B. F. SAUL CO.
National 2100 925 15th St. N.W.
THERE IS I£o SUBSTITUTE FOR SAFETY
FINANCIAL
MONEY RATES RECEDE
Tim* and Call Fund* Easier Dur
ing th* Fast Wa«k.
Money rates continued to recede dur
ing the week ended June 28, aa com
pared with the previous week. Th*
average on both time and call fundi at
leading centers ia reported as follows by
the Census Bureau:
Time. Cell.
Week ended June >1 S 24 2 25
Previous week * 5* 2 ,%0
Same week last rear 9 so 5.75
sssrirr 1 : ■ asaaaa
A-9