Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-11
j. S. POST OFFICE
HAS LARGE DEFICIT
Department Has Failed to
Make Money Since Bur-
Lesson Regime.
BY JOHN F. SINCLAIR.

Special Dispatch to The Star
NEW YORK, July 11-Former Post
master General Burleson, who served
under President Wilson, has the best
record to show in the attempt to make
the post office pay its way. In six out
Of the eight years he was at its head, the
United States Post Office Department
Since then the situation has changed.
= The last fiscal year, ending June 30,
produced the greatest deficit ever
shown. It has been reported as $751;
100000. Actually the deficit from
operation is sos 200, 900, but If the S42,-
100000 which the Court of Claims
ordered paid to the railroads is taken
into consideration, the total deficit is
$137, 100000.
A recent estimate shows that if con-
ditions are left as they are, without
change in rates and after allowing for
increased earnings over the next five
fiscal years, the deficit will reach $685.
O0O,0 900 a year on operation alone. If
to this is added $35 100000 annually
for the Pos ONCE Building program,
the department will face deficit of
$3.50, 900, 900 a year.
Doubtless the compensation for air
the increased deficit. President Hoover
believes the post office should pay its
way.
HowP First by a thorough investi-
CATION to determin the sources of in
come and the sources Of expense. Then
by taking such action as may be neces-
sary to bring the two sides of the led
ger into balance.
The Post Office Department should
not be charitable institution.
- g..
notes to Halsey, Stuart & Co., and
of Education with enough money to
carry on in anticipation of tax pay
merts.
Halsey, Stuart & Co. deals exclusively
in bonds. When other bond houses in
recent years began to sell stocks this
company turned a deaf ear It has
hammered along and stayed in the line
in which it had built up one of the larg-
est bond houses in the world.
The company is headed by Harold L.
Stuart, Al, a bachelor, who was born
in Providence, r. l.. and attended the
University School for Boys Of Brown
University.
He began his banking experience with
the old H. w. Halsey & Co in Chicago,
20 years ago and has been with the or
ganization ever since.
Mr.. Stuart Is aggressive, a hard
worker, able and like many other bank
ers, averSe to personal publicity. He
has never given a personal interview,
although the company itself has given
many.
The Halsey-Stuart hour on the air is
well known nationally. ANY bond house
selling so per cent Of its last years
sales Is making a remarkable showing
this year.
In volume our bond sales are about
30 per cent Of what they were last year. -
said Mr.. Stuart recently.
President Hoover has accepted an in
vitation from the Netherlands to send
delegates to an international confer
ence on commercial education, at. Am
sterdam the first week in September.
He has approved the following rep
resentatives from the United States:
John r. Gregg, president of the Gregg
Publishing Co., New York; DR.. Louis
Manley, dean of the school of business
Of the University of Pittsburgh; Clay
D. Slinker, director OF business public
schools, Des Moines, Iowa; DR.. w. j.
Donald, director of the American Man
agement Association; Lloyd L. Jones,
Board Of Education, Cleveland; John
G. Kirk, director of commercial educa-
ton, Philadelphia; DR.. Henry Rand
Hatfield, department of economics and
commerce, University of California;
DR.. Emory r. johnson, University Of
Pennsylvania; DR.. Leveret S. Lyon,
Bookings Institute, Washington: DR..
Thomas H. Healy, Georgetown Univer-
sity, and Miss Eva M. JeSsup, Board Of
Education, Loss Angeles.
This Is an indication Of the growing
importance Of commercial education
and the relationship of the business
school to the business of life. Dele
gates interested in commercial educa-