Evening star., 1924-05-17
U. S. SAVING FOR 1924
TOTALS $500, 900, 900
Treasury Department So Computes
Decrease in Cost of Running
Government This Year.
DROP IN INTEREST ON DEBT
Pnces for Stocks Slightly Weaker
on D. c. Exchange.
BY CHAS. p. SHAEFFER

Decreased costs OF running IL.
ohileo states government will resui,
IN a saving Of more than 5000 600 .ooo
IN the present fiscal year ending June
o. 1874, over the corresponding ne
riou Oh last wear if the present RAJ.
oi economy can be maintained. a mr.
nm nary statement showing classifi-
expenditures from July i 1928, NJ;
April 80 last, issued by the 1rreasur.
Department this morning, shows
During this period ordinary expe--
oltures amounted to s2524 0o5.4.s
Whlle the ten months expepditnras =
the previous year totaled s2.72s q
4Ie. In the fiscal year ended last I'M
totai ordinary disbursements anon
ed to S3,29i. .627,J29. VI
a drop Of approximately SIS o00
oou IN interest on the public del
was major contributing factor -
the decreased operating costs IN m.
period thus far, while governmeT.
operations in special accounts nay,1
~ in railroads and the War finance
Corporation, resulted in a saving ~
s58,000,00O and s4J,000.0oo. reSnoc-
tlNelE, as compared with last wear
Also, the United States Veterans,
Bureau requirements were lesSe neg
to the approximate extent Of s40 o06
600. while the War and Interior De-
partments functioned at a saving o.
s34,0oo,0o0 and s25, 100000, respe.-
lively.
During April. 1924. total ordinsr.
expenditures amounted TO S2l7.TSI-
123, about s45, 900 900 in excess OF the
previous month
Radio Brings New Fields.
field since the beginning of 1922 is
said TO have led talking machinc
producers 10 align themselves with
radio manufacturers. As a result
the present time nearly all grapho-
phone companies are now man ufar-
| turing phonographic-radi sets.
OF the two new companies forme..
as a result of the reorganization o-
the Columbia Graphophone Manufar-
turing Company. the operating cor
Phonosraph Company, has not VI
entered into the production of phone
radio sets. il is said. although il
artists are appearing at the broad
casting stations. The hquidatin-
company, known as the America
Canadian Properties Corpora ton, 4.
understood TO be still engaged in a.
forts TO dispose Of the large plar
facilities acquired during boom dav.
one of which is located AT Orsnge
vile. on the outskirts of Baltimor
Under the reorganization. outstard-
ing securities of the old company wer
exchanged on proportionate basis for
| $4,000 shares OF capital stock in eac
Of the new companies. The New Yora
Stock Exchange has admitted to traa-
ing voting trust certificates represeI Z
ing these capital stocks. but no tran
actions have yet been recorded.
Tentative Railway Valuations.
The Central New England Railwa
today was given a tentative valuat;o..
Of s2e.06S.019, as of June so, 1915. +
~ Nrnv-D
The tentative value of the Cadiz ra
road of Kentucky. as of June 80, 49,.
was placed at Sl205oO
An increase of twenty in the nun
ber of failures in the United sta.
occurred this week. the total repo-
ed TO r. G. Dun & Co. being 39S. tt
| number a year ago was 351, or fort.
eight less than during the precedin-.
week. The east and the Pacific Goa
each show four fewer defaults this wee
than last week. but these decreases a.
more than offset by increases -
thirteen in the south and fifteen
the west
A less favorable showing is mao
by bank clearings this week, vhicl
aggregate s7.105, $4,000 at leadirc
cities OF the United States acoord-
ing to Dun's Review. This amount i
"a per cent below that OF a year AZ
whereas there was an increase la
week of 1916 per cent Most of -
decrease this week occurred at poin.
outside Of New York, the outslq
centerS having clearinss of $3.50:
from the total for this week of 1s...
Local Securities Less Buoyapt.
Local securities turned decided
| weaker on the local board in toda
| session. Washington Railway ara
| Electric preferred sold off to IS On
| transactions involving twelve share
| as compared with 741s the previous
| close. Riggs Realty long SIS touchea
new low level, $500 selling al 90. cr
drop of two points, and Continentat
| Trust Company was also off on"
point, twenty live shares selling At
| s..
! American Security nd Trust Con-
pany was unchanged at S0e, and
Washington Gas SIS were in fair de-
mand selling upward to par and i
| quarter. Mergenthaler was unchane-
| cd "A ~