The Washington times., 1927-01-24
Mellon URGES
CONSTRUCTION
By RICHARD nATToN

With spring only d few weeks
aYay. attention AZ economtgts Is be.
ing turned 70 the building prospects
Tor 1927. The situation is one
which has lent ttseif to much specu.
iation resulting IN the fostering OF
two schools Of thought. One is that
she eonntry IS overbuilt, the other
Contends that this is not the case
eecretary Of the Treasury Mellon IS
one Of the advocates of the second
theory.
Secretary Mellon has been quoted
a. believing that the present is fair
time for building from the sand
point of cost. His, opinion Is based
upon the fact that labor cost ard
material cost seem likely to unde, go
little change in the near future.
The Federal Reserve Board has
compiled data indicating that AWARDS
of building contracts in 81 States for
the II months ended November 80
showed an increase OF nearly s per
exceeding 1925 by 1897 ,000, 900.
In addition to the building activi.
ties Of the Government in the local
0erVatiYe amount of new construc.
ton by private capital in Washing.
ton, Present prospects genel ally
seem to support the optimistic as
against the pessimistie view for the
remainder of 1927.
A pamphlet on Industry, Govern
rnent, Finance and Foreign Trade in
Soviet Russia" has been published
by the commission Of commerce and
marine of the Americans Bankers
Association, Of which President John
y. Larner, of the Washington Loan
and Trust Company. is a member.
The pamphlet Is largely based on
documents and publications in. the
tiles of the Department Of Com
r1erce.,
Russia under the soviets is to
many in America an even greater
mystery than was Russia under the
Cars" the pamphlet says.
It Is impossible to present in brief
form the changes which have taken
place since the revolution from
Czarist nnisrule and the Bolshevilx
coup d'etat, now called the revolu-
tion.'
This pamphlet outlines in general
form the machinery which the
SoViets have set up in the domains
OF government, industry, finance, and
foreign trade, and suggests the
tendencies and results of Soviet
policy in these fields"
The Washington offices Of Alex
ander Brown and Sons are being
moved today from 1924 H st. N. w.
to quarters on the ground floor Of
737 Fifteenth st. The rapidly ex-
banding business Of the local office
of this old established banking house
Is given as the factor necessitating
a move to larger quarters.
For some days workmen have
been busy remodelling the space in
the new location and the offices will
afford greatly increased facilities
for serving the large Washington
clientele OF the firm.
1t is Of interest to note in remark
ing upon the present expansion of
the Alexander Brown offices here
that this house is the oldest of its
kind in the United States, it's ex-
istence covering the administrations
of 26 Presidents Of the United States.
The firm was founded in 1900 and
now has connections all over the
globe totaling more than 1000. The
Washington office is in charge Of
A. r. Stewart, manager, and the fol-
lowing staff: Lawrence M. Proctor,
Marshall o. Exnicios and Lee p.
Warren.
Directors Of the Liberty National
Bank elected at the annual stock
holders meeting have reelected the
following officers:
George o. Watson, president; e.
]. McQuade, vice president; M. r.
CalnAn, cashier; J. B. Skinner, as.
sistant cashier, and T. P. Little
page, general counsel.
The creditors committee OF the
Old Dutch Market, Incorporated,
has advised plan of reorganiza.
ton which, If carried out will result
in the organization Of a new com.
pany to take over the business and
assets of the old company.
Under the plan q new company,
known as the Old Dutch Market, is
to be organized. The company will
have three stock issues, a first
preferred non.voting of 5000 shares,
par value $40 each, paying culnu.
lative dividends of per cent:
second preferred Of $4,000 shares,
par value SO, paying cumulative
dividends Of 8 per cent, and $4,000
shares of common stock to be given
to purchasers Of the first preferred.
The first preferred will be offered to
stockholders of the old company at
Dar. then to the creditors and then
TO the general public. In this
manner $685. in cash would be
.raised. and of this sum $4,000 and
the entire second preferred stock is
to be- paid in liquidation Of cred
Rka.a ola irna