Evening star. [volume], September 24, 1937, Page A-16, Image 16

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

Image provided by: Library of Congress, Washington, DC

                
SEES REALTY BOOIV
IN EARLY UK
St. Louis Economist Note;
Present Minor Recession
as “Usual.”
the Associated Press.
SWAMPSCOTT, Mass., Septembei
84—Roy Wonzlick, St. Louis rea
•state economist, analyst and pub
lisher, last night predicted Increased
reel estate business with a "boom pe
riod” in the early 1940’s.
In an address prepared for delivery
before the forty-ninth annual conven
tion of the Massachusetts Co-operative
Bank League, Wonzlick said:
"Right now we are in the midst ol
• minor recession in the upward move
ment, but no upward movement has
-ever continued without one or more ol
these recessions.”
Wonzlick found that "real estate
eycles differ from general business
tycles in four characteristics: They
ire far more extreme, they are longer
they are more regular and they show
a tendency to rise faster than they
(all.
"The average length of the cycle ir
the last 142 years has been 18.3 years
We have been in the rising portion ol
the cycle since 1933. We believe that
the cycle will pass the top somewhere
In the early forties, probably 1943
1944 or 1945.”
"Urban property will increase ir
value faster than rural property,” he
«aid.
"Residential rents will continue td
rise, pulling values with them until
they reach the point where new build
ings can be built even at today’s high
cost in competition with buildings now
standing. When this point is reached
new building will go forward in large
quantities regardless of Government
stimulation.”
---
Mary Doran Sues for Divorce.
RENO, Nev., September 23 iyP).—
Mrs. Florence Arnold Sherman, movie
actress known as Mary Doran, filed
suit yesterday to divorce Joseph C
Sherman, Hollywood writer. She
eharged cruelty.
FATHER IS ACCUSED
Charged With Attempt to Mur
I der 3 Girls by fire.
. MEDIA, Pa.. September 24 OP/.—
I The Delaware County grand jury yes
terday indicted Albert R. Knight of
Lansdowne on a charge of attempt
ing to murder his three daughters,
» who were sleeping in the family home
when fire started last May 28. An
indictment for arson also was re
turned by the jury.
The State contends Knight had his
daughters heavily insured. He is free
under bail.
-— ■■ ■
Sails for Gold Mine.
TAMPA, Fla., September 24 OP).—
Harry H. Benton, mining engineer,
sailed down Tampa Bay in the 40
foot ketch Mystery yesterday on a
quest for gold in South America.
While refusing to name his exact
, destination, Benton declared he had
a claim "staked out” in an obscure
river between the border of Central
and South America.
"Panning ore therre will be a slow
process.” Becnton went on, "but we’ll
get from $25 to $50 worth of gold a
day.”
-%
Workers Get Pay Raises.
Minimum wages of national gov
ernment workers in the Philippines
have been raised to 62>2 cents a day
in Manila and 50 cents in the prov
inces.
BANKHEAD HITS TARIFF
FOR KING COTTON’S FALL
Alabama Senator Contends Ex
port Market Hinges on Adjuat
ment of Trade Barriers.
By the Associated Press.
MONTGOMERY. Ala., September
24.—Senator John H. Bankhead,
Democrat, of Alabama said yesterday
in an article written for the Mont
jomery Advertiser the Smoot-Hawley
tariff act wa/ responsible for declines
in cotton exports and “caused dis
ruption of world trade.”
“We will not get back pur exports
mtll world-wide nationalistic trade
carriers are adjusted and American
•xchange for goods sold us is made
easier,” ankhead, author of control
ind other farm legislation, said.
The Senator’s article said devel
>pment of substitutes for cotton was
in “important factor” affecting ex
ports and domestic consumption, but
le declared neither a scarcity of cot
;on nor “arbitrary or pegged prices”
:aused export slumps.
"Confirmed Dropper.” !
Since the Duchess of Kent, of the
British royal family, lost a valuable
brooch while shopping in Dubrovnik,
it has been revealed that psychologists
have classed her as a “confirmed drop
per.”
!
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