Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1921-07-08
u. S. Treasury Will Advance
$500,000,000 In Next S /.
Months
HALF rs AVAILABLE
Enover Estimates Transaction VIII
Result in Work for 2O0,03) Sealing
Town Claims

Washington, July S.-Tne Admin
its,.la,.Ii3n has decided cn an advance
of approximately $500. 100000 TO the
,a'',n,1ac.S TO permit them to pay csf
their ds'bts. place new order. an. dopen
TIE way fer industrial prosperity by
putting than much mCpey into Cir
clr.atian The cash. $225,000,000 Of
which is avaEable. Will be advanced
within the next six nGcnths, accord.
;n@ to the cs;7Mat" of the Treasury.
Congr!5ss win be called upon to APP
pr2p,@atc the balance.
Secretary Of Commerce Hoover to-
,,lw declared that the advancement
&C ,his nlcncv to TIE railroads: sioutH
% cf ma.tcrial benefit tn the entire
cots,a'.Y BECAUSE ii would have 4 gen.
c.al s:taadyirg effect en- business. He
ro~tel out that the railroads ccn
rose the "kcy lc.," in the existing
cocnma,ci:,l jam and TO help them ra-
tuialIy would result IN benefit to al
branches cf industry.
Mr. Hoover callcd attcnai7gl to the
fatt tha,. The transportation companies
cmr'.v about 90 per cc!rt. Of 'the labor
0c the country ard buy about 20 per
cent. of al the equNpmea;S. supplies
ar; ether materials Sc,i la the Unit
c,F States. There ha; been 4 tr9meud-
cu< rgSlptian in the voipme G. eni-
ii, vmaat on tls rg;lruntis a7d because
af the t'asst THAT the. railroads have no
mc,.s" they have net .l,ccn cXpendinG
i5 ror purchases asrt as 81 rssoI: ihT+
whnle inlustr,:a. establishment has
l.ccn affected. Mr.. Hoover. estimated
2O0,0 adl2!!;o4Nal men wcali't be en-
r;oy2d by the nsals II funds were
avnAa',le.
'T!.c ',ler:ls:2n Of the A;;:niatstrs ton
,'.li', ou1ccne rf t!ie rceund:1lg 'leeeo-
t:at'>r:< hctwecn ratlroasI executives
at,i ti{: Gavttirmcl1:,: wirirh Secretary
e. tha T,ic,r$uw Mcllc;r sail may be
completed within two days. AT the
sar,c time Il was PORTED out that be-
c;.4.:r the ir:gct'ati2ns have rot been
rcrciurlca. Something m;ra}ro ccnc up
10 prevent a settlement. II ~@s 'ns&-
r:,..@s!. h,avcvcr. that the Admins
tra,icn j. wii!ir" to ma&e this large
adTanct. .a.. =.
! The cxa". sal * Il matter OF cst1
mate. :. some of the reals may t.ct
t'a+:rr icanicr Indebtedness and s11lte
paot hc aIae to fprn:sh proper Sc
sbi;is .,Wht!r claims Of the railroads
aprj,r.r the Government. have been ex-
T. i77;5'Jtci to total Sl,25o, 100000, the es-'s
rimaie bc;ng based on the claims a.
r:@:at'y fled. experts have figured THAT
$500. 100000 cf this amount is llndis-,
pr,:l. The advance CT the Govern
ircnt. c:r the hasis cf SaTra figures
,y.,ulA in no. way cover The cGntro-
rcrtcd pcra:on CT the railroad Claims.
!: on The other har,i the railroads are
;n,l;A~tcrf to the 'G%avcanmcnit sct. i'm
'nrovcmcnts AMI bttsormcrts during
he period Of f"Fcdc,ll cortrol. The To-
tai is placed at between s7oo,ooo,ooo
a!,d 100000. It. l,as been hill
Gated that part of tili.> tfebt wouid
1ia rcfup:G,-l. the suggestion having
l,cc.l maao that tic railroads be given
IS years to pay cff the rcfunicd pro-
ticn. Payment By The Government Of
$500 100000 wouH pr2ver. checking
rff cf accounts, SUCH az has been 1cna
III INSTANCES by The Railroad Admin
;stv2.;cn. ....,.:..., ',.l@
The question # scaling t'rwn the
rarltoai claims has entered into tne
nsgotistic1s, hut i was SAID
3: the Treasury that 40 accurate cs-
!: ,::uiate. cc4t}i be, made of the. CLAIM
,c&ucii in, Some, cf, thc roads are p:'-
6lcIstood,. 70 ,raye made their claims
l,:rj1. .whHei ,otseps rut t.hem before
a,,.sept,ng item 70 ,the Government,
Mclay altes4Y advanced to the
.<ts1s''f,as .pteSc5- d 3:yoed Investment.
al; tie Go&eelf-n!refst ilas been abfe 10
.t,N,ro3 AZ a Io@e,- interest rate than
charged the roa'ds Railroad Securities
-.-, r.,,.1. II ,,,s.. s,,;l