The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-03-10
UNEMPL OYMEN7
on INCREASE
BY RICHARD HATTON

ployment situation in its current
business review as follows:
Reports OF unemployment com
ing from numerous large cities
particularly New York. have caused
serious concern as to their pos
sibly unfavorable effect on bust
ness prosperity. Statistics collect
ed by the Department OF Labor
Indicate that the number OF work.
ers on payroIls has declined to
the lowest point since 1922. al.
though not so low as in the de-
preston Of 1921 II expressed in
terms, OF percentage employed out
OF total population, which increases
approximately $500, 900 annually.
the showing would be still worse.
Reasons for this surplus of
labor include the coal strike for
Other factors are the flood in New
England and the quiet condition
Of industry generally Greater ef-
ficiency in industry and increased
production per man through use
OF machinery is also an influence.
Some OF the Atlantic seaboard oil
refineries are laying off workers
to await an Improvement in gaso-
line prices.
Situation In New York
"These statistics and reasons,
however. BY no means tell the
whole story OF hardship and de-
creased purchasing power which
the present unemployment entails
In New York the number of men
without jobs is the largest since
1915, and bread lines of the Bow
cry Mission and other social ser
vice and charitable organizations
are supporting some 10000 men.
The State of New York has opened
employment offices to assist these
men to find work. The unemploy-
ment situation in Chicago is nearly
a. bad as in New York.
A nationwide inquiry into in.
dustrial unemployment conditions
has been launched by Secretary of
Commerce Hoover at the initial
meeting OF the recently organized
Economic Survey Committee. In
Congress bill is pending to extend
the per cent immigration quotas
to countries Of this hemisphere, in
troduced by Representative Box,
OF Texas. who estimates the mum.
Der Of unemployed in this country
as high as 1900, 900. In connsc.
ton with this bill. Representative
Johnson, OF Washington. chairman
Of the House Committee on Im;l.i-
grafton. suggests the erection II
q Federal Bureau to assist in a
proper distribution of surplus Ia,
bor.'
Dividend Declared
The board OF directors OF the
Anacostia Bank has declared the
regular quarterly dividend of 5
per cent. making the annual divi-
dend Of this prosperous institu.
ton at the rate of 20 per cent
President Maurice Otterback stated
yesterday that the hank was in
q Aourishing condition and that
the increase in deposits since the
last call for statement Of condi.
ton was $4,000.
During the month of January
the New York Life Insurance Com
pany made 362 separate mortgage
loans for q total of $12,173,64O.
These loans accommodated 1,283
throughout rs States. BY way OF
comparison, five years ago, in
the same month in 1923. the COM
pany made $50 separate mortgage
loans for q total of $4,446,865,
showing an increase Of 102 loans
for $7,726,775.
Waggaman and Brawner, Inc,
have been appointed exclusive rep
resentatives of the Utilities SecII.
rites Corporation for the sale of
prior lien preferred and preferred
stocks sponsored by them. The
corporation speciaIizes in securities
of the Commonwealth Edison Com.
pany. Peoples Gas Light and Coke
Company, Chicago Rapid Transit
Company, MiddIewest Utilities Com
pany and several other similar
issues with many stockholders in
this territory.
Interest Payments
The Treasury has announced that
about $514.O00 900 OF Treasury GER
tificatea of Indebtedness become
payable on March Is and about
$50, 100000 in interest payments en-
the public debt become payable
on that date.
About 10000 out of approximately
10000 people who will pay income
tax in Maryland and the District of
Columbia have already sent in their
checks. money orders or cash to
+. Galen TAFT, collector of internal
revenue in Baltimore. The collec.
tors office is rendering every pos
sible assistance in facilitating the
making of returns, all of which
must be mailed on or before
March Is.
To assure sound and stable finan-
cial management, number OF
prominent bankers and business
men are named members of the
hnn RA6 - kn
Religious Education Founda ton
incorporated by special act of the
New York Legislature, just signed
by Governor Smith. The plans for
the Foundation, which represent
new principles of control for such
bodies, were worked out during the
last three years by Charles H.
Tuttle. United States district attor.
ney, and o. II. Cheney. vice presi
dent. American Exchange Irving
Trust Company. New York.
BALTIMORE LIVE STOCK
UNION STOCK YARDS. BAL.
TIMORE. March .. - Cattle-Re.
ceipts, 800 head; market dull and
about steady prices. Steers. choice
-s13.75014.75: good, $12.25013.25,
medium. $10.75011.75; common
$9.75010.50: feeders and stockers
S8.5O@11: heifers. choice. $11.2s
Oils: good, $9.75010.75; medium
$8.25@9.25: common. $6.75@7.75
feeders and stockers. $6.25@S.50
bulls, good to choice. $8.7609.5O
fair to good, sos; common t.
medium, $5@6.50: cows, good Il
choice, $7.50@S.50: fair to good
$6W7; common to medium, $305.5O