Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-04-04
MOST OF NEW ISSUES
GET U. S. APPROVAL
Committee, Working Care
fully, Indorses Nearly 70
Per Cent of Total

In commenting upon the activities Of
the capital issues committee and the
various advisory and subcommittee
located in washington and connected
with the different rederal Reserve
Banks, Richard l.. Austin, chairman
OF the subcommittee on capital issues
at Philadelphia, has given out a state
ment in which he said
Public and private organizations
throughout the country are fast ally
ing themselves with the capital issues
committee in its work OF combining to
essential purposes present capital eN'
penditure. During the course OF the
week just passed the committee on cap
ital issues Of the Federal Reserve board
at washington had conference with
the Mayor. the Controller and the So
licitor Of the city of Philadelphia. These
officers expressed themselves as in
hearty sympathy with the aims Of the
committee and stated that. at mu-
tually convenient date, they would re-
turn to Washington and go over with
the committee, item Dy rem, the en-
tire city budget of many millions, with
a view 60 bringing the city's capital
expenditures into line with the com
mttee's policy
zone Of the very largest public serv-
ice corporations of the nation, whose ac-
tivities reach every village, city and
town In the country and whose eN-
penditures are of huge proportions, has
Informed the committee Of its intention
to submit it's budget for careful scru-
tiny.
a "The Associated Advertising Clubs OF
the World are cooperating also by dis.
couraging advertisements that would be
i apt to interfere with the general purpose
of the committee.
An arrangement has been perfected
whereby DR.. j. 4. G. Chandler, super
/ intendent Of schools Of Richmond. Va.
will spend half of each week in Wash
ington for the purpose of advising the
committee with respect to applications
involving the issue of securities for the
! purpose of erecting school buildings
/ Doctor Chandler whose work in this
connection will be under the supervision
of Commisson of Education ClaNton
will have the advice of DR.. George y
Strayer, of the faculty of Columbia
. OnlNefbllNs ANtN I W ~ WIZ 10 pNA .
on the war savings committee at Wash.
r ington, and also that of Lieutenant
| Colonel l.. p. Ayres, a member of the
! general education board. who is now
/ serving as statistician of the General
/ STAFF of the army. This central bpdS
/ will have at its disposal the facilities
of the Bureau of Education through.
out the country,
/ This specialized organization is Cre'
ated because of the very large number
of school issues and the necessity oi
dealing with them also from the educa
Jional angle. The committee is mos
anxious TO avoid. as far as it can bC
l done consistently with a policy of re-
duction of capital expenditures, thu
impairment OF the facilities for menta
training of the growing generation,
out Of total submitted teXClu
sive of refunding operations) of $66,
913,94O. approval was expressed by the
committee as to S46,334,940 (69.3 pei
FcenO and dsapproVal was expressed
with respect to $2O,579,OOO (3O7 pei
cent?. In addition three applications FOL
a total of S2,sO0,OOO were submitted in
formally to the committee and postponed
for the period of the war The com
mttee is collecting data from the various
districts with respect TO applications
upon which postponement has been Sc
cured locally"