davidaulloa/AmericanStories huggingface dataset:
Evening star., 1926-09-18
$780, 100000 TREASURY SURPLUS
ISFORESEEN BY ROGER BABSON
Business Expert Believes New Tax Cut Will
be Effected Within the Next Two Years.
Lauds MELONS Administration

profits have been very large the past
two years for many who have cashed
in. and the Government income tax
receipts are benefting accordingly.
On the other hand. ii must he remem-
bered that Secretary Mellon has fore
seen this condition and. for tax and
other reasons. may have used his in
f1uence to keep the stock market ac-
tive. Doubtless the adminiStra ton
will make an effort to have a rising
stock market up through the election
period this Fall. Rea lizing that the
stock market cannot he kept up in
definitely, Secretary Mellon and his
followers will probably think CON
siderable reaction is advisable during
1927. They then will surely make n
strenuous effort to bring about a
market uplift in 1928. so that things
will look rosy for the big election
which will come that year.
1t is interesting to note that both
the Republicans and Democrats are
agreed on further tax reduction, and
that the Democrats are for a greater
reduction than are the Republica MS
Whether the Democrats ardor for tax
reduction Is in the interests of the coun.
Continued on Twenty-first Page.)
Evening star., 1926-09-18
UNIVERSITY OFFERS
REAL ESTATE COURSE
Studies in Management, City
Growth and Values to Be
Given at Michigan.
BY the Associated Press.

BY the Associated Press.
ANN ARBOR. Mich. September IS.
-Funda of the real estate
business will become a matter of stu
dent investigation in the School of
Business Administration of the Uni.
versity of Michigan this Fall. In ad.
dition to research work, four courses
for graduate students are offered.
The instructor. F.. NJ. Fisher. re-
Gently director of the department of
education and research Of the Ma.
tional Association of Real Estate
Boards, will have the title of associate
professor.
In addition to his work as head of
the research. Mr.. Fisher will offer
three courses: The funda mentalS of
city growth and real estate values
and a beginning and following course
in realty management
The first course presents the prin
ciples governing city and real estate
values, the effect of city planning and
zoning on real estate utiliza tion and
value and the economic aspects on real
estate as commodity.
The realty ma cement preliminary
course includes surveys of the opera
ton of a brokerage office and depart
mentS of mortgage and finance. sub
divisions and property management.
Evening star., 1926-09-18
O-OPERA RATIVE APARTMENT PLAN
DECLARED SOUND IN PRINCIPLE
Home Owners by Combining Resources,
Purchase Building for Themselves
At Lower Cost Than Rent.

surance. etc. do not require his in
dividual attention. hut are looked after
by the managing agents under the
supervision Of the hoard of directors
1. An apartment building is of fire
proof construction and is better built
than the average dwelling house.
s. BY the budget" system the
building. its roof. plumbing and hall
ways are kept in first class condition
at all times.
Q. The combined buying power of
the individual apartment owners en-
ahles contracts whereby each may
paint. paper or decorate his own apart
ment al wholesale rates.
Cost Is Lower.
TO- The cost of maintaining and
operating the cooperative apartment
building is lower than that Of the
rented building because there are no
vacancies. no loss through unCollect-
able rent and no imitation of value by
resales. Vacancies and the costs of
filling them and redeCoratIng the
largest expenses Of the commercial
landlord--a"e la eliminated.
II. The cost of financing the prop
erty is greatly reduced. Loans se
cured by mortgages can he obtained
at sig per cent. while similar loans on
apartment nllIIulngS owned ny an IN
dividual bear much larger rate of
interest. The big life insura nee COM
panies. savings banks and other Gus
tOdianS of trust funds lend their re-
serves readily on property promoted
by comparatively owned buildings.
They are not only willing. hut are
anxious to make loans to corporations
owning apartments on the Co-operat tive
plan because Of the greater security
afforded by persons owning and &C.
cupyinG their own apartments.
-. The amortization of the mort
gage is one Of the guarantees of the
tenant owner that his investment is
not going to depreCiate.
Amortization Principle Used.
In nancing cooperative apart
ment the principle of amOrt tization is
used so that the principal sum of the
mortgage is constantly being reduced
ny monthly payments which are in
cltIded in the monthly assessments Of
the tenant owners. AS a result the
f1na ncial position of the project and of
the individual tenant owner gets
stronger every month.
BY the application Of the economic
principle of combined purcha sing
power, wholesale" production and
operation. and the elimination of
wastes incident tn renting, the CO
operative apartment has been made
the least expensive I'm price and main
tenance cost of any form of home
ownership.
Evening star., 1926-09-18
BY EDMUND j. FLYNN. ,

Authority on Cooperative Apartments.
This is the third of a series of articles on
this suhect.l
The cooperative apartment plan
of home ownership. as has been
proved by detailed analysis and by
citing its practical workings In pre-
vious articles, is absolutely sound in
principle and uniformly successful In
operation. 1t is the most economical
method of obtaining and maintaining
home.
We start with a group of persons
Of moderate means who desire 70
own their own homes. with comforts
conveniences and services that would
impose severe tax. on any of their
individual incomes. If they attempted
to operate as individuals. Yet. as
rental tenants they actually are pur
chasing the homes for their landlords
and in addition paving for their up
keep and providing him with a profit
on his investment. On the other
hand. by combining their resources
using their collective buying power
as tenants-they can purchase and
operate an apartment building for
their own homes
and their monthly payments are low
or than the rent for similar accom-
modations
Wholesale Factor Important.
The wholesale" factor is funda
mental of the cooperative plan
Building a cooperative apartment Is
wholesale construction of homes
This enables economies impossible In
building the same number of indi
vidual dwellings. and this saving Is
passed on to the cooperative pur
chasers in the form Of lower prices.
Each individual Of those who com
bine tn buy an apartment building
purchases his home on wholesale
cost basis and effects another sav
ing. Nor does the wholesale" fea
ture end there. for the collective buy
ing power of the individuals enables
each to maintain his home at whole
sale rates.
Let us consider some of the proved
advantages Of cooperative apart
ment plan of home ownership:
I. The occupant Of an apartment
is enabled to become the owner there
of at cost of approximately go pei
cent of the fair rental value of his
apartment.
.. The Enhancement in value of the
apartment building inures to the bene
1T Ot the tena mt owner. Attef tnt
lapse of few years. instead Of being
confronted with an increa sed renta
due to depreciation In the value of the
property. his apartment becomes rent
free" 1t is paid for.
g. At all times he has a vested in
terest in his apartment that may he
resold or leased by him at profit.
a. The character of occupancy is
improved as the result of having 2
selected class of home owners, with a
complete control of future tenants
through the board of directors. 1t Is
the only form of community life where
one Is afforded absolute control of the
desira hility of his neighbOrs.
5. The cost of operation Of Ar
apartment is about so per cent les:
per square foot than the cost of oper
ating an individual dwelling.
g. Heat. janitor service. taxes. In
Evening star., 1926-09-18
CONCRETE CONTRACT LET.
Baltimore Company to Have Part
in Press Club Work.

The Baltimore FireprOofing Co., Bal
timore. Md, has been awarded the
contract for the concrete to be used
in the National Press Building. in
the course of construction at Four
teenth and F streets. 1t was announced
today at the Offices of the National
Press Building Corpora ton, In the
Westory Building. The corpora tion
is holding company for the National
Press Club in the erection of the struc-
ture.
Maj. Ernest Graves. owners engi-
neer. recently estimated that the
structure will require concrete suffi-
cient to build Is miles of road 16 feet
wide.
Evening star., 1926-09-18
Two Groups In Cities.

AS for the city. there are roughly
two groups: The big -cityists and the
little -cityists. The first believe that
the CITY is inevitable and that we
rnnet make the hest of IL: or, that
Evening star., 1926-09-18
Realty Active in Falls Church.

An active realty market In Falls
Church property is reported by NJ. r.
Church, Virginia realtor. A number
of farms and country estates In
Arlington and Fairfax counties also
have been negotiated recently through
Mr. ChurchS office.
Approximately 30 properties. rang
ing from homes to building sites.
have changed hands, he announces.
Many of the purchasers were from
this city, It was stated
Evening star., 1926-09-18
S18,841,761 MORE LENT.
Prudential Announces Figures for
New Financing in August.
,ecial Dispatch to The Star

Special Dispatch to The star
NEWARK. y. j.. September Is
Additional mortgage loans amounting
to $lS.S41 1915 were made during the
month of August by the Prudential
Insurance Co. of America, according
to a report issued here today by Archi-
bald NJ Woodruff. vice president of
that company, in charge of it's ac-
tivities in this field.
OF this total $l3.147. .70l.50 was on
dwelling houses and apartments In
the United States and Canada for the
accommodation of 1866 families
$3.535 500 was on city property other
than homes. and the remainder, 81
l5S460, was in farm loans.
Evening star., 1926-09-18
Realty Firms Birth Anniversary

The fourth birthday anniversary Of
the real estate firm of MadduX, Mar
shall. Moss & Mallory Is being cele
hrated today at Chesterbrook Farm
near Clarendon. Va. the country eS
tate of Maj. n. c. Maddux. president
Of the ComOanV
Imperial Valley press., 1926-07-30
Legal Advertisement

of a Ii 100 ft N of
renter of Ii of R.R. $50
That part Of Laguna
Ave lying bet Blks 81
& % and bet Blks
26 and 81 .......... 3.24
That part of Railroad
St lying S of Blks
26 and 21 .......... 3.24
That part of Olive
st lying bet Blks 81
and q and bet Blks
% and 2S ............. 5.44
Imperial Valley press., 1926-07-30

Part Of Crabtree Add
lying S Of S Ii of
Blks &c & q and N
Imperial Valley press., 1926-07-30

howard, BESSIE -,
Block 2, Lot 10 ........
Part of Crabtree Add
as per map No. 81
lying S of and bet
the Lots in Blks %,
"a G. 25 and n of a
Ii drawn from a pit
205.3 fit f of SW cor
of Blk "a, Lot c to
intersection of S Ii of
Blk 25, Lot B with R.
r. r/w, excepting
therefrom that .por-
tion lying within S.
d. & A. X. X. r/w
Crabtree Add.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
GOOD WILL.

A very beautiful ceremony was
observed in Prescott hall, Wednesday
evening at the annual installation of
new members of the Girls Reserves
of the y. w, c. A. The professional
the occasional, the lighting of the
candles. and the entire ritual proved
impressive and significant. Six new
members were installed, so that the
association now numbers %. Miss
Agrandice Healey, librarian at Good
Will, is the Reserves Chief Advisor,
and participated in the ceremony.
Mr.. and Mrs. G. w. Hinckley, and
Miss Faith j. Hinckley left home
Thursday morning on a trip into
Washington County. They will pass
Sunday in Cherryfield, whore Mr.
Hinckley will speak at a Sunday
morning service. and Miss Hinckley
in the same church in the evening.
Car loads of 10 inch pipe for the
water mains in the new system at
Goodwill are arriving daily and being
distributed, and the work is progress
ing satisfactorily
The Good Will Can Club" con-
sisting of nine men, owners of Fords
and working At Good VIII, held
meeting around an open fire in the
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
BELFAST
Alabama Man Who
Buys $50 Acre Farm
Will Raise Sheep

One Of the largest real estate deals
to be made in this vicinity this sea-
son is the sale of the Herbert Black
farm of $50 acres to Fred L. Wager
of Mobile Alabama, who plans TO
engage in sheep raising. This tract
Is conceded to be one Of the finest
farms in Waldo county, has a stand
of buildings costing approximately
$780, 900 and 1t IS estimated that there
are 5000 cords of fire wood available.
Mr. Wager is a hotel and real estate
man, owning a winter home and
large numbering tracts in Wagarville,
Alabama town so miles from Mo-
bile. named for him. He also owns
and directs the Hotel Continental at
Saratoga Springs, N. Y, and a year
ago purchased the fine old. colonial
place in Belfast, owned and occupied
for several years by Senator James
p. Talliaferro. OF Jacksonville, Fla,
as a summer home. Here the Wagars
plan to make their permanent home.
Mrs. Wagar and daughter, Mrs. Eli
zabeth Nyack are here and are max
ing necessary changes in the interior
and grounds They are installing an
oil heating apparatus.
The Black farm is situated in
North Searsport and the owner until
this deal was made was Otto c. Nut
ting Of Bar Harbor.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
ANS()N

xNORTH-W. z. T. Mclean has
leased his farm in Augusta and has
come to pass the winter with his
aunt, Mrs. Emma Spearin of Elm
street
MI. and Mrs. Alfred Berry, Hazel
Kitchen and Mile Berry. members
or Anson Grange No. SIS, attended
the Pomona meeting held at Bing-
ham, Tuesday.
Wlnola Bailey, Oldest daughter Of
Mr.. and Mrs. Sewell T. Bailey went
to Lewiston, Tuesday. and entered
the c. NJ G. Hospital to undergo
an operation for appendicitis. Miss
BalIey IS student at Pennington
Normal.
Perley Durgin Of The Forks, a
state Highway Police, was in town,
Tuesday.
Mrs. William Spencer IS very III
at her home on Union street.
William C. Robinson
William c. Robinson passed away
Wednesday morning, September %,
having been stricken with a paralytic
shock Thursday. September IG. The
funeral services will be held Satur-
day afternoon at two o'clock. He is
survived by widow, who was before
her marriage, Evie Grey, and three
daughters, Mrs. Frank Perkins Of
Portland, Kate G. Robinson, Princi-
pal of the Mark Emery school at
North Arson, and Mrs Earl c. Wing
Of North Arson, and four grand
children, William. Ruth and Martha
Perkins of Portland and Virginia
Wing of North Arson.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01

the Sophs. IF I can put some cour-
age into the bunch this years Fresh
man class will go down in college
history as one of the few which
cleaned up the Sophs.' When the
battle comes it will be all one sided.
imagine class with so or more men
than its opponents getting away
without a trouncing."
Tuesday night the Frosh gathered
In a goodly number and painted 1880
on the roof of the Garcelon field
srandstand On Wednesday they
divided and a small group was cor
nered by the second year men and
made TO erase the numerals.
The Frosh girls have proved them
selves 70 be pretty clever, too. They
have been ordered to keep them
selves supplied with gum and to
hand 1t out to any Sophomore girl
requesting it. Wednesday the 1929
maids seemed to be- exceptionally
hungry for gum. Frosh girls were
stopped right and left and made 10
supply gum. The Soph girls. how
ever, were unsuspecting recipients of
laxative gum, raped in popular
brand wrappers.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
Erskine Academy Notes

SOUTH-Erskine Academy opened
September IA with the following
teachers: Principal, p. W. Woodwork ;
assistants. Mrs P w. Woodwork and
Mrs Edna Tabor. and with As stu
dents. II of which are members of
the entering class. The annual fresh
men reception was held at the gymna-
stun Thursday evening, Sept. %. The
following program was presented
Welcome speech by Enola Cooper;
reading, The Baldheaded Man" TheI-
ma Griffin: solo, Gladys Proctor: pia-
no solo, Phyllis Farnsworth: seXtette
Minnie Weeks, Thelma Griffin, Helen
Weber, Celia Buzzell, Claire Cid
dings. Velma Jones; duet, Louise
Choate, Gladys Proctor; reading, Mar
cia Hisler Refreshments were served
and good time reported by all.
There are 16 girls staying at the
dormitory, which is in charge of Mrs.
Woodwork.
Wendall Austin left this week for
Providence. r. l., where he will at
tend the Moses Brown school
The we'll driller is at work on the
grounds drilling a well, preparatory to
putting water in the gymnasium
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
Editorial Comment
Fruits of Ide aIisr
Kansas CITY Starr

Kansas CITY starr
Somehow the idea of wickedness
always has been associated with ma
terial well-being. Let a nation or
an individual advance in prosperity
and Immediately the warning cry
goes up that the brink Of hell is near.
Scriptural teaching which, in reality,
points to the abuse of prosperity
and misuse of wealth has been APP
piled to the gaining and possessing Of
material things. The first part Of the
statement that 1.-THE love of money
is the root of all evil' has been pretty
Of money as an evil within itself
has been put forward falsely.
Here is America today blessed
with an unusual degree of prosperity.
But in the eyes of the world it seems
the Nation has lost it's soul and is
revealing in all manner of wicked
ness. We have been dubbed Uncle
Shylock" not simply because we have
made known our reasonable eXpec-
tation for a reasonable payment of
just debts but because of that other
feeling, not unmiXed with envy, that
we are too fortunate in having some
thing that others have not, The fall
lacy and injustice of such a view of
American prosperity are shown in
pointed article in the American
Bankers Association Journal by
Thomas Nixon Carver, professor of
political economy at Harvard Uni
versity.
America Is leading the world in
prosperity, Professor Carver shows
because it is pursuing and applying
the ideal of a fair chance for all; be-
cause it is allowing the greatest pos
sible release of energy into produc-
tive channels; because we have
adopted an educational system that
teaches acknowledgment and self
help, rather than "a system of I'M
employment doles or of soup houses"
because of dominance of the ideal
that productive achievement is more
desirable than passive consumption;"
because the very cornerstone of our
National prosperity, which must be
the fundamental of any prosperity,
is the doing of the greatest possible
number of useful things by the
largest possible number of indi-
vtduals.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
MADISON

All grades of the Madison village
schools were closed for the day
Thursday to give the teachers
chance to attend the Somerset Coun-
ty Teachers convention in Fairfield.
Through the courtesy of Manager
Smiley of the Pastime Moving Pic
ture Theater a benefit for the Free
Baptist church Organ fund was
given Thursday evening with a large
attendance.
The annual reception by the up
per classes TO the freshman class
of the Madison High school was held
at the High School building Wednes-
day evening. There was a short pro-
gram, during which a bottle of milk
was presented by the sophomore
class to President Frabotta of the
freshman class. Games were en-
joyed.
A letter has been recently received
by Mrs. r. w. Head from her broth
er. George Graham, in Los Angeles,
Calf, telling of a reunion of Mad
ison people held on Labor day. there
being 81 former residents Of this
place present. The day was very
pleasantly passed in talking over old
times.
Officers elected by the freshman
class Of the Madison High school
are: President. X. Frabotta: vice
president, Kenneth Sloat; secretary,
Rhoda Crafts; treasurer Adam
Denko.
Mr.. and Mrs. II. H. Haines left
town Thursday afternoon for ST. Pc
tersburg. Fla, where they will pass
the winter.
Mrs. Sadie Churchill and son, Mer-
vile z. Churchill, who have been
visiting relatives and friends in this
vicinity for the past few weeks. have
returned to their home in Provi-
dence. r. I.
Mrs. George Davis. who has been
the guest of Mrs. Achsa Perkins for
the past week, returned to her home
in Lewiston, Wednesday. Mrs. Da-
Wis was formerly resident of Mad
ison.
Mrs. Katherine Kent Of Belfast is
visiting friends in Madison this week,
A meeting of the Madison-Anson
Chapter Of the American Red Cross
has been called at the Community
Rest room next Tuesday evening.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
CHINA

Mr.. and Mrs. Charles Randall from
Freeport, Long Island, are visiting Mr.
Randall's mother. Mrs. Nellie Ran
dali, for two weeks.
Mrs. Florence Martin. who has been
stopping with her son and family for
two months, has returned to her home
at Long Island
Mrs. Euleta Brown is working at
the corn shop.
Silver Lake Grange furnished sup
per for the Kiwanis ClSb of Water
willie and their guests, III, Mr.. Will
kinson of Colby gave very interest
ing talk after the supper, which took
place 1t $50. A very hountiful repast
was served by the ladies.
The dance Friday evening was
largely attended and an enjoyable time
reported.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
WINDSOR

Mrs. Lizzie Perkins went to Cam
den Sunday for a short visit with
friends.
Mr.. and Mrs. Dana Wilkins went to
Pemaquid Sunday. accompanied by
Mr.. and Mrs. Walter Bowden and
children of Cooper's Mills.
large company from Augusta Wis
tied at the Meigs homestead Tuesday
evening and enjoyed a corn roast,
after which a pleasant time was
passed indoors singing old time songs.
Mr.. and Mrs Leslie Lewis and two
grandchildren, Marion and Alden
Lewis of Whtefield, passed the day
at the home of c. +. Donnell Sunday
Mrs. Carrie Paul of California is
visiting her sister, Mrs, Ernest Reed.
Mrs. Alice Hunt of Massachusetts,
who has been visiting her sister, Mrs.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
NEEDS SERIOUS coNsIDERA-
TON

L. F. Lorce OF New York, notwith-
standing his age Of 70 years, Is
come to recognition as a moving
genius in the railroad development
and control in this country. Having
occasion the other day to ask the In
terstate Commerce Commission for
permission to merge railroad &C
tivities in which he is engaged, he
said in replying to opposition on the
ground that such combination
would put certain short lines out of
business: Thirty thousand miles Of
railroad in the United States should
be abandoned as cancerous growth
on the transportation system"
He regards taking money from the
strong roads to bolster up the weak
as socialistic II the railroads were
not public utilities such a view
would be reasonable. But those
roads were not built without rights
Of eminent domain, The motor on
the highways has lessened the value
Of this eminent domain and doubt
less there are instances where re-
sort should be had to motor rather
than to rail for transportation pur-
poses, making these contribute to
the maintenance OF the highways
used. There are nice distinctions
here that will need careful adjust
ment. That thirty thousand miles OF
railroad should be scrapped in this
growing country when rail develop
ment is demonstrating its useful
ness In competition such as it never
had before is a question not to be
settled off hand.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-10-01
CURIOSITY EXCITED

Reports from III cities in this
country are said to show that rents
are lower: two per cent lower than a
year ago. The Monthly Labor Re-
view complies statistics from which
It appears the cost of the various
articles Of food combined shows a
decrease Of Is per cent July Is. 1925
as compared with July is, 1925.
Possibly some will be able to get a
others including housewives. who
may find their curiosity excited by
this report that the average retail
price OF sirloin steak on July Is,
1925 was but AZ cents per pound.