The Washington times., 1934-04-27

pSOp1S.
While on that subject, it might
be well to call to the attention
OF the banking public that William
Jeffries Chewing, jr., secretary
6f the company, has been ill for
Q number of weeks. Mr.. Chewn-
ing, as everyone knows, is the
Son-in-law of Senator James
Couzens, of Michigan.
Mr.. Chewing wants to come
back to his desk at the Lincoln
Service Corporation, but President
Delmar won't let him. Says Mr..
Delmar:
"Stay away until you are in
the right shape to work"
Overwork is Mr.. Chewning's
ailment.
The passage by Congress, after
weeks of delay, Of the Admins
tration bill to guarantee the prln-
cipal as well as the interest Of
the bonds Of the Home Owners
Loan Corporation, is expected to
stimulate the acceptance Of such
bonds in the District of Columbia
and the States. President Roose-
welt probably will sign the
'amendatory law by the end OF
this week or by the middle of
next week.
Although in recent months
there has been an increasing dis
position on the part Of mortgage
holders to accept the Home own
serns Loan Corporation bondS-1n
lieu Of or replacing the mortgages
held on homes which were about
to be foreclosed-it has been fully
appreciated that home ref1nane-
ing was being inpeded because
only the interest Of the H. o. L. G.
bonds had Government guarantee
back Of them.
The reluctance of certain mort
cages in Washington and else
where to accept the interest
.only' guarantee has held back
for quite awhile the effectiveness
of the Home Owners Loan ACT
of June 13, 1888" This situation
finally became Of such concern
that the President suggested to
Congress guaranteed princlpar
amendment.
Paul F'rizzell, District of Colun1..
oia manager for the Home owners
Loan Corporation, recently set
out in prepared statements and a
radio address the difficulties con-
fronting his office.
Now that Congress has l1beraF
ized the home loan law, not only
AZ to guarantee of principal, but
has authorized the corporation to
expend additional millions in the
Gmodernization" of homes, it looks
like today that the H. o. L. c. is
off to a fresh start in relieving the
stress of thousands Of home own
ers throughout the country who
have been fearful of the loss OF
their properties in the present pc
Rod of economic distress.
John Caswe1l, jr., manager OF
Clark, Childs & Keech, is still dis
'coursing on silver in his latest
comment, distributed over the
country. He says:
"At the start of last week, the
congressional siIverites found
themselves maintaining views
that were mot acceptable to the
President Of the United States.
There was to have been a meet
Ing on Thursday, April 10. at
the White House, at which time
the congressional silver bloc
would expOund their principles
and, no doubt, in turn, the Pres
ldent would indicate any ideas
he might have for silver. How
ever, that conference was post
pOned until Saturday, April FL.
On Friday morning, leading
newspapers carried stories of
possible compromise to these Op-
pOSite views on silver, which
compromise would be in the
form of permissive legislation,
rather than mandatory. OF
course, such legislation would
put the responsibility Squarely
on the shoulders Of the Presi.
dent. Such legislation could be
voted for by q much greater
number of Senators and Repre-
!. sentativeS than could mandatory
legislation, which could not be
favored by Administration stall
warts, provided opposition by
the President continued.
"It is hardly likely that
there will be an early settlement
6f opposing theories.
"Silver today has come to
mean much more than whether
Or not the price for silver itself
throughout the world is higher
o. lower. Current thought has
NaA&A ShfRheP silver a SYNONYM