Evening star., 1928-11-17

f.Se-
improved farmland % X
per acre declined I 5$
but 2 rer cent on $S SS s.
the average during aa'.'''a
1927 end early
1929 es comnarcd Louis R0thschild.
with decline of twice that figure reg
iStered between March 1. 1925, and
March /, 1927.
AS of March l, 1928, the national av-
erage value per acre was II per cent
above the pre-war level, compared with
a figure of 10 per cent above pre-war
reached on March /, 1927, and peak
of 70 per cent above recorded on the
same date in 1920 Averaged for the
entire country the current figure of II
per cent above pre-war represents ap-
proXimately the same level of values
as prevailed in 1917.
Declines in Values Reduced.
The major declines IN values con-
tinued to be felt in the same regions in
which the heaviest losses appear to
have been centered in recnI years, prin-
cipally the corn and cotton belts. How
ever, in both of these the decreases
shown for the year ended March /.
1928, we're smaller than those registered
during the corresponding preceding Pc
riod from March /, 1926, 10 March /,
1927.
In some Southern States. the bureau
observes, values hardened materially
Equally encouraging results were re-
ported from Montana and the two Da-
kotas, where values for the first time
in many years exhibited q tendency
toward comparative firmness. Although
continuing their decline of the last
seven years, Iowa values showed the
smallest decrease record I'd since the
wartime peak was reached.
Farm real estate values in the New
England and Middle Atlantic States.
according to the bureau, showed very
little change Pacific Coast values de-
clined very little on the average. A
third section in which tile downward
trend of values was apparently halted
includes the eight States OF the West
originally designated as tie Mountain
group.
Fewer Foreclosures Reported.
Data on foreclosures and related
losses of title through default. averaged
for the country as a whole, indicated
slight decline to have taken place dur
ing the year ended March Is, 1928.
The farm tax burden continues to be
a heavy charge upon land ownership,
taxes on farm real estate having risen
still further during 1927 10 reach a fig
ure 1853 per cent higher than before the
war.
A review of the credit situation as it
affects farm real estate presents con-
trasting aspects, the bureau finds. First
mortgage money on the whole contin-
ucd in good supply, with interest rates
generally favorable. Terms offered by
owners to move farms in the present
market were frequently found to be at
tractive. On the other hand, the recent
Tightening in the money markets, ac-
cording to the report. may be reflected
in slightly higher farm mortgage inter-
est rates later.
Urges Greater Care IN Investing.
Louis Rothschild director of the
Washington Better Business Bureau,
gave two fine radio talks this week in
which he urged the investing public
to use greater care in the selection of
investments. He announced that the
Better Business Bureau is always ready
to give information regarding any So
called doubtful investment, and asked
his hearers to take advantage of the
service before rather than after putting
out their money. He added:
While the majority of investment
houses and stocks. bonds ana lands are
sound, innumerable fraud schemes are
presented as safe investments A sound
preliminary investigation viii separate
the wheat from the chaff ard the wolves
from the sheep
Losses in Washington from unwise
investments are enormous They are
an economic drain on the community
as well as on the individual who loses
his money" Turning to the present
Importance of aviation, Mc Rothschild
QCQnFfnH fhnrn Nf
inc, hard working, profit producing
companies, but there are others which
are trading upon the good will of the
public. 1T is against this latter group
the public is warned" the bureau head
concluded.
Rejecting probably a crop in COM
mercial demands for funds, rediscounts
at the Federal Reserve System declined
to the sharp extent of $50, 3,351 900 in
the second week of NovemoAr to a total
of $857, $4,000. At the SAINT time the
central banks continued their activities
IN buying acceptanceS in Tie open mar
ket, adding $25, ,755 900 to their holdings
and bringing the total to S474, 400 900.
Government securities Il, the hands
OF the banks changed but slightly. The
more important changes IL the banks
statement seemed to point to greater
ease In the money situation The re-
serve ratio changed only to minor
extent.
At the Richmond Federal Reserve
Bank rediScountS reversed TIRE direction
OF their trend and rose 10 $44, $50, 900
from 42,770,000.
Financial District Jottings.
The Washington Stock Exchange will
hold its annual election of officers fol-
lowing the regular trading session next
Wednesday.
Walter j. Harrison, vice president of
the Commercial National Bank, is TAX
ing few days vacation and doing
little hunting in his old hauntS around
Lynchburg, Va.
Secretary Mellon says that interest
rates on the coming Government De-
cember securities are still undecided,
the terms largely depending on the
bond market at that time
President Wade H. Cooper of the
Continental Trust Co. and of the United
States Savings Bank, has been invited
by his cousin, Gov.-elect M. Y Cooper
OF Ohio, to attend his Inauguration.
The Federal Reserve board held a
conference this week with the agents
and governors of the IL Federal Re-
serve banks, who were in Washington
for their semi-annual meeting.
Improvements Showing Much Progress.
The changes and additions being
made by the Columbia National Bank
are advancing with rapidity toward
early completion.
Extensive changes and engagements
in the Offices of w. B. Hibbs & Co.
also are being steadily carried forward.
Enlarging of the order department was
the first completed move.
The new entrance on H street to the
Merchants Bank & Trust Co. was put
into service this week. The fine corner
entrance will soon be converted into a
waiting room for the banks women
customers.
The American Security & Trust Co.
has made banking connections with
Ia.4s<.iL "a