Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-09
Kansas City Palmer Says
Financial Circles Hesitate
to Advance Money.
FARMING COMMUNITIES
ALSO FEEL CREDIT PINCH
Renewal of Notes Almost Impos-
sible in West, He
Says.
BY JOHN F. SINCLAIR.
ecial Dispatch to The Star,

Special Dispatch to The Star.
NEW YORK, March 81. G. Nichols
of Kansas City, whose accomplishments
in the field Of city planning are well
known, says that there is a good de-
mand at the present time for larger
homes in many cities, but that there
are certain forces holding back develop
ments.
"And those forces-what are they?"
I asked.
THE failure of many of our larger
insurance companies and other lending
companies to continue making loans.
Many of the loan companies throughout
the Western parts of the country are
not lending as generously as they did
and are concentrating the larger per-
centage Of their loans in the Eastern
cities"
How about the farm loan situation?"
"The attitude of many insurance
companies in trying to curtan their
farm loans, particularly those that are
refusing to make renewals or are i'm
posing such conditions as make it inn
possible to accept renewal loan, Is
creating a very disastrous situation
among the farming communities, and
If this policy is, continued it will affect
national prosperity and greatly affect
the insurance companies themselves.
Many insurance companies profess that
they are not curtailing their farm loans,
but this is not fact. They are i'm.
posing such rigid restrictions, even in
making renewals, that it is almost inn
possible for farmers to obtain renewal
of the loans.
Farming conditions have been so
bad that few farmers have been able
to pay of their loans or make reduce
tons. They are fortunate If they have
been able to pay their interest and
taxes, and the present attitude of the
larger insurance companies in relation
to loans on farms is adversely affecting
all the agricultural sections of the
country"
Such a statement, made by so re-
sponsible an individual as Mr.. Nichols,
is worthy of serious attention.
Needs of Columbia.
For buildings, $9,5oo,O0O and $30,OOO,-
900 extra for endowment
| This is what Columbia University
now needs, according 10 the report
made to President Nicholas Murray
Butler by six well known American cit
liens, who made an exhaustive study
of the resources and requirements OF
| that university.
Dignity and strengthen the profess
sion of the teacher and the research
worker; give the teacher a fair income
upon which he can live simply and
comfortably and out of which he can
protect himself against the hazards OF
old age; give full professor $4,000 a
year."
The committee, consisting of Bernard
Baruch, Walter s. Clifford, Ph1np
Gossler, Darwin P. kingsley, Morgan =.
O'Brien and Henry S. Pritchett, an
nounced that Columbia University al.
ready has resources of $4,000 600. OF
this sum about SGT, 100000 is income
producing but only $4,000, 900 OF this
amount provides income whose use Is
non-restricted. .
Columbia spends a little more than
$40 100000 year and has an income
! from endowment. gifts and student lees
of about S9500000
The amount needed, S39,500, 900, may
seem large, but that it will be given
promptly by New York citizens Is con-
ceded. Rich New York is liberal TO the
causes its likes. And this Is one OF
them.
Standard Of Indiana.
When Edward j. Schubert, president OF
! the Standard OH of Indiana, announced
that the net earnings of his company
| in 1929, after providing for reserves
and taxes, amounted to $78, 499,OOO-
equal to $5.37 a share on the total OUT
standing stock for the year-he showed
that, in spite of the difficulties OF over
production, well managed oil companies
are making money-and plenty OF IT,
The Standard Oil companies, how
ever, have never specialized in publicity.
They have rolled UP millions without
the accompaniment OF brass panoS.
Companies in other fields, more mod
est in results, often receive very much
more space in the papers than Is gwen
to any of the powerful Standard OH
group.
Consider Radio-Keith- Orpheum Co.,
which reported net profits OF 81 $4,000
for 1929, as against net loss OF $l,l6O,-
600 for the year preceding.
Hiram S. Brown, president, who re.
signed the presidency OF the United
states Leather Co., to head the COM
pany, is already showing satisfactory
And vet it would take the earnings,
based on the 1929 figures, Of nearly 90
such companies as Radio Keith, 10
equal the earnings Of the Standard on
yet more newspaper space is given
to the Radio-K activities than 70
the Standard of Indiana.
Mechanical Refrigeration.
No industry has felt competition any
more keenly in recent years than that
of mechanical refrigeration.
HTOQdUly HAL q dOGCAA kAO0NS0o
widely advertised, backed up by strong
national sales organizations.
The business of mechanical reIrlg-
Grafton is growing, but competition IN
the field is also becoming very severe,
because several companies are now
shifting from radio and other mecnan-
ical equipment enterprises to that OF de-
| veloping new refrigeration units and az
tempting to market them through sales
organizations already developed tor
other things.
REPORTS from the various companies
indicate that, while the business mas
| dropped since November, suffering
somewhat from the trade conditions, the
installation of mechanical refrigeration
in household units is in excellent de-
mand. .-..
ton companies, broadly considered,
have been at a low ebb in the last sew"
eral months, and the majority OF con-
Germs are likely to have difficulty In
showing satisfactory returns IN the
present half year." according to Stand
ard Statistics.
! (CopyriSht 1880. by North American News