Evening star., 1934-07-02
JOBS BIG PROBLEM
IN FIFTH DISTRICT
Many Former C. w. A. Men
Scorn Wages Farmers
Can Afford to Pay.

widespread ulltlIplOyIllcl JllC
Federal Reserve Bank of Richmond
said in a statement. probably con-
tinues to be the chief obstacle in
the way of business revival in the
fifth reserve district, although con-
ditionS are somewhat better than
they we're a year ago, and apparently
are no worse than in other sections
of the country" according to the
Associated Press.
Former C. w. A. workers have
not been absorbed in industry" the
banks statement pointed out. but
many of the workers in the lower
half of the district will not accept
farm work at wages the farmers can
afford to pay
Construction has shown only a
small seasonal increase since Winter
and in this field unemployment con-
tinues to be more prevalent than in
other lines. The tobacco industry
continues operations on full time,
coal production is fully up to sea-
sonal levels, and the textile industry
is working its full quota of workers.
edClI WOIhCI 10 IlipOI al l4y
on shorter hours than in recent
months"
Statistics on which the report and
survey ere based are as of June 20.
Freudberg Is Honored.
In honor of his 20 years of service
with the Massachusetts, Mutual In
surance Co., Leopold v. Freudberg
was guest of honor at luncheon at
the Willard Hotel, Saturday, rendered
by John F. Cremen, general agent of
the company.
Guests at the luncheon we're Wray-
burn M. Benton. superintendent OF
agencies of the company. who pre-
sented Mr. Freudberg with 20 years
service pin, and Joseph A. Marr,
Thomas R. Crowley, Paul Sleeper,
Morton Wilmer. Louis GroSsberg, Ber-
nard Wilmer, Morris Simon. Eugene
Young, Lawrence Koenigsberger, DR..
Lester Neuman, DR.. Charles B. Dull
can. DR.. Francis S. Machen, Daniel
j. Harrison. Theodore w. Cook. Eber
b Woodruff. Mrs. Leopold v. Freud
berg, Mrs. John F.. Cremen, Miss
Lucetta w. Stockbridge Miss Nav
Belle Raymond and Mr.. Freudberg's
sister, Mrs. Celia F. Schultz.
Mr.. Freudberg holds a permanent
membership in the Million-dollar
Round Table in the National ASso-
citation of Life Underwriters, men,
bership being based on the regular
production of Sl,000000 of paid life
insurance per year. During his 20
years with the Massachusetts Mutual
he has paid for over $4,000 900 dollars
of life insurance on the lives of
WaShingtonianS in addition to sub
stantial funds of insurance placed in
other companies.
He has continued this remarkable
record by submitting more than
100000 of business to the MaSsa-
chusettS Mutual in 1884
Bond Issue Watched.
Much interest was being shown in
Washington financial circles today in
the offering at par of S35,000,00
3 per cent three-year notes by the
Edison Electric Illuminating Co. of
Boston, the largest public utility op-
Grating company in the New England
States.
The speed with which bonds allotted
to this area we're snapped up and the
fact that they were quoted at 1914
shortly after offered not only indi-
Gated the amount of idle money avail
able for such short-term inve~tment
of this character. but also indicated
the trend of the money market. Most
local investment houses participated
and banks here were asking for many
times more than we're available.
In addition to being the first and
largest piece of registered corporate
financing undertaken since amendment
of the securities act, the proposed Of
fering constitutes the largest individual
issue placed for the account of
strictly domestic public utility cor
poration in the American investment
market since June, 1881, when an
issue of S85,000,000 Commonwealth
Edison Co. bonds was sold The syn
dicate offering the notes is headed by
the First Boston Corporation
d. C. Clearings Mount.
ceeded those for both May of this
year and June of last year, and the
cumulative clearings for the first six
months this year were ahead of 1888
but far behind 1882 first six months.
Total checks cleared by the Wash
ington Clearing House in June were
S66, ,669 .995. sc, as compared with SOL
662,07495 last month, with $56, 6,487,-
65733 in June. 1888, and $40, ,453.-
198.40 in May. 1888.
The six-month figures for 1884 show
1886, ,668, ,500.98, a substantial gain over
the first half of 1888. at $3O2 ,125.-
862 SO, but well below 1882 six-month
total of S518,877. 1898
A. M. Nevius. vice president of Riggs
National Bank, has returned from va
cation.
Hilleary G. Hoskinson. vice presi-
dent of Riggs National Bank. has left
for his vacation at Ocean City, N. J.
George L. Starkey. president of the
National Bank of Washington. has re-
turned from a short stay at Old Point
Comfort, Va
E. j. Colleran has been appointed
to full-time position in the McNair
agency of the Lincoln National Life
Insurance Co. here. it was announced
by F. V. McNair.
Since May the company has added
one State-Virginia-t its territory
and more than 100 agents to the force
operating in the old territory of 81
States and the District Of Columbia.