davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-11

because each Of Its four rooms is
designed to perform multiple func-
tons, actually has the facilities of
an eight-room home. The house
was designed as consequence of a
national survey of housing needs
in the low to intermediate income
brackets-a survey conducted by the
National Home Builders Bureau,
Inc, who built the original house
at the New York Worlds Fair.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-11
9Th Star Home
Ready TO Begin
Third Week
Thousands Visit
Low-Cost OFFERING
On Inverness Drive

The attractive low-cost home at
S514 Inverness drive, Rock Greek
Park Village, Nd, which received
award as the eighth Silver Star
home this year, tomorrow will en-
ter the third week of its 3O-day
exhibition period under sponsor
ship of The Star.
Priced within the loW-cost range,
although it contains seven rooms,
the Star home was built by the
Rock Creek Park Village Corp. and
Is presented by Sandoz, Inc. It was
designed by Miss Frances Knee,
architect, of Lyon Park, Va. Hewitt
Wells, treasurer of the building firm,
planned the development and super
vised construction of the home. 1t
has been furnished by group of
antique dealers. Miss Marguerite
Burbridge arranged the curtains,
other decorations and furnishings.
Visited by Several Thousand.
Several thousand persons have
visited the Rock Creek Park Village
home during the two weeks it has
been open to the public. Many of
the visitors have been open in their
praise of the brick house.
The five experts in home building
who compose the Silver Star Homes
Committee inspected the Inverness
drive home thoroughly before in
dorsing it for The Star award.
James S. Taylor of the Federal
Housing Administration is chair
man of the committee. Other men,
bers include Irwin S. Porter, promi-
nent architect; Edwin H. Rosen-
garten, builder, member of the firm
OF Davis, Wick & Rosengarten; Fred
A. Smith, president of the WASH
tngton Real Estate Board, and John
Nolen, jr., director of planning of
the National Park and Planning
Commission.
1t may be reached by driving out
Connecticut avenue past Chevy
Chase Lake todd Connecticut ave-
nue.. Bear right on Old Connecticut
avenue to Inverness drive. Turn
right on Inverness and follow signs
across Montgomery lane.
Improvements Planned.
A number of improvements are
planned for the new section in
which the eighth Star home is To-
Gated. This Is a wooded, rolling
section adjacent to Rock Creek
Park. 1t is planned to continue Old
Connecticut avenue across Rock
Creek to Kensington and also to
connect with the proposed extern
sion of Beach drive. When this
work is completed there will be a
drive all the way through the park
to the Zoo. The last session of the
Maryland Legislature authorized a
$50, 900 bond issue to erect a bridge
over Rock Creek to connect Old
Connecticut avenue with the park
drive.
The Rock Creek home has more
space than is normally found in a
dwelling of its price class. One of
the space features is a den or library
on the first floor. This really gives
the home two living rooms for en-
tertaining. The den also might be
used as a playroom for a family
with small children.
Another feature of the dwelling
is the furnishing of the third bed
room, which has been decorated for
q child. This room has been fur
nished with small antique pieces.
A little block front chest of drawers,
q child's roll-top desk, small poster
bed and low spool occasional ia
BILE are the principal pieces in the
room.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-11

avenue NV, extending so feet on
Massachusetts, avenue by $50 feet
to an alley, was sold to the Sanitary
Grocery Co. for Wolf Ulman. This
sale was made in connection with
the Office of Walter Herman. I'M
mediately adjoining the above site
frontage of 100 feet on Massachu-
sets avenue by a depth of $50 feet
was sold to the Sanitary Grocery
Co. This sale was made in conjunc-
ton with the c. H. Hillegeist Co.
It is understood that at the corner
Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-11

Of Forty-eighth street and Massa-
chusetts avenue master food store
with large customer parking space
will be constructed for the Sanitary
Grocery Co.
Evening star., 1939-10-01

View looking shows the unvsrsis poultry building.
lower e the odministrotion building and the doy build
ing the left Of University one the general service building
power plant and coliseum beyond the Bomoe Boulevard with
the restored Roboue Inn and the greenhouses the right Of
University o"e As Of the improvement proeom the present
University lone will be closed and relocated the NORTH ereoy
changing the appearance Of the eompus.
Photos by VIC. 1nsraham
Evening star., 1939-10-01

AIR VIEWS OF CONSTRUCTION UNIVERSITY OF MARYLAND
70 n
al o is
A
in
O o
Evening star., 1939-05-31
Cooper Markets

NEW YORK. Max 81 P-Copper
steady: electrolytic. spot, 10.00-l0.5o ex;
nearby. 491O; forward. 4s.s7. Lead
steady; spot, New York. 4.75-s0: East St.
Louis. so Zinc steady: East St Louis,
spot and forward. 40 Pig iron. alumni
mum antimony. quicksilver platinum and
Chinese wolframite UNCHANGED.
LONDON May 81 LP1.-Closing: Copper,
standard spot, G42 5s future, SAB IS cd;
electrolytic spot, bid e4s los: asked $40.
Tin. spot, G227 5s;- future. f225. Bids:
Lead spot, f14 13s Cd: future fl4 16s 3D..
zinc spot Ga 3s Cd; future GA IS.
Evening star., 1939-05-31
Dividends Declared

NEW YORK Nav 31.-Dividends de-
clared tprepared bv Fitch PUBLISHING COZ
REGULAR.
Pc Stk of Pay
Rate riod record able
Allied Chem Dye 81 80 @ $40 $50
Geo w Helme Co 81 25 @ 6-10 IL
SO Puerto Rico Sug CSC Ola Il
West Texas Utilities Co
Sc pfd 81 so @ 6-15 IL
Accumulations.
West Texas Utilities Co
S6 pfd 81 6-15 IL
Evening star., 1939-05-31
Chicago Livestock
B, the Associated Press.

CHICAGO. May 31.-Hogs were active
today and weights of 230 pounds and less
were fully steady, with spots to 10
cents higher on heavier butchers. The
top was s695, equal to Mondays best
price Receipts totaled 10000 head.
Cattle receipts were 10000 head largely
fat steers and yearlings, and the market
was slow, Plain and medium steers and
al al grades OF yearlings were steady
lower. Cows and bulls were fully steady,
and vealers were. unchanged. The COW run
was acutely small.
Trade in, fat lambs, also was slow, with
Monday W There Vas o }tle dong ins's on Wat fat
sheep or native springers.
ss sAhS bI doT5 hSTs u aoo s;essy ssys With Wfh Mdn
DAYS average; spots 5-10 higher on heavier
Dsfchfrs so Ib 0p 6s5 s9os snd b ehoee l9o
300-350-lb. butchers. 6.15-45; good $50
5oo-lb packing sows 5.20-75; lighter
Salable cattle, 13 900: salable calves
1000: all cattle very full of water: marke
slow largely fat steer and yearlinss run;
medium weight and weighty steers grad.
ing good and better in very liberal supply
small; plain. and medium steers and al
grades .yearlinss steady: weighty. steers
steady Veaers oe Ss at shq ioso NSS DOWN 5a
mostly 1000 down; largely S75-11 90
Steer maEkeL; ESe early top 90, but prime
early 9.15: about 80 loads fed heifers ir
run. but upward 300 loads fat steers and
yearlingS here: cutter COWS, 5.75 down
Salable sheep. 1000; late Monday fat
clipped lambs strong; other classes slow
weak; one deck clipped fed lambs to ship
lambs slow; few early sales fed clipped
lambs 9.1O-15; around steady with Mon
dav: asking up to a25 for choice handy.
weights: little doing on fat sheep or ma
tive springers.
Evening star., 1939-05-31
By PAUL ID. GESNER,
Associated Press Financial writer.

NEW YORK, May 31.-The bank
depositor is taking it on the nose
again"
The Bank of Commerce of New
ark, N j., has announced it will not
pay any interest on any deposits
after July l. This bank is the first
commercial institution in this area
to take such step, but it is believed
many other banks will follow suit.
The bank has been paying per
cent interest on time and savings ac-
counts under $4,000, although 1t
ceased paying interest on CONNER
cial or demand deposits when Fed
eral deposit insurance became ef-
fective.
With United States Government
bonds selling at prices that make
it necessary to hold them six years to
maturity to get an annual return
of ! per cent. our Board of Directors
is faced with the alternative of
broadening our investment policy or
of eliminating interest and keeping
in liquid position, and we have de-
cided to take the latter STEP" said
R. D Mariana, president, explaining
the new policy.
Once depositors in banks through
Evening star., 1939-05-31
Interests on Deposits Cancelled
After July I by Jersey Bank

out the Nation got to 4 per cent
interest on savings. Came the de-
preston, and deposit interest was
cut to around 2 per cent, and in
some cases to l per cent or less.
Some people in Wall Street think
the end is not yet. Bank vaults are
bulging with idle cash. But yields
on good bonds remain very low.
And commercial loans are far un-
der normal. And when a bank
does get a chance to loan out its
money, the interest return is far
smaller than in former years-due
primarily to Government fiscal poll
cies and heavy flow of foreign funds
into this country.
If present trends continue, with
huge stores of cash continuing idle
at the banks, some observers think
the bank depositor, besides getting
no interest on his money, may be
asked to pay his bank fee for the
safekeeping of his funds.
A decade ago the bread and but
ter of lending institutions were
loans to industry and commerce
carrying interest rates of from 4
to per cent. Such loans were
usually relatively short term, re-
movable, but usually only with a
boost of 70 or "a per cent interest
for the renewal period.
Evening star., 1939-05-31
Short-Term Securities

CReported by Smith. Barney q Coz
Ala Ct Sou "a" 5s 1943 1O7M
z%s! rs T! s' !. fs4 ~ %"
Baldwin Loco Works IS 1910 100h 102
Central Foundry 6s 1941-- 90
Chicago Union Sta As 1914 1854 1861
Commercial Cred pas 1912 1O1h 1919
Container Corp 5s 1943---- 80 9SL
Cuba North Rwys 51as 1912 "a BAN
Delaware q Hud As l943-- so 59L
Grand Rap g. Ind 4Eas 1941 1O4R
Houston Oil 5hs $780, 1O112 IOIa
Illinois Steel 4hs 194O- lO3A lO3ss
Init. Hydro Elec 6s 1944 S334 S434
Internal Mer Marine Ss 1941 SO 5Sh
Lake Erie Il Western 5s 194l 65 SO
Lehlgh Val Ter Rwy 6s 1941 so 55
Louisvill &, Nash R.R As 1910 99A 100
Michigan Cen R.R. As 1910 9Sa4 $685.
Midland r R. of M. IS 1910 IL 13
e. Long Branch As 194l 2OL 70
Pennsylvania Co. BIAS 194l 1921 1891
Penn-Dtxie Cement 6s l94l 30 991a
Penn RR Co. As 1943 1OS34 1O9ls
Peo Gas 1t g. Coke 6s 1943-- 116L III
Peoria e. Eastern As 194O 4SIa 51A
Phlla,, Bait & Wash As 1943- 109h 40
Studebaker Corp 6s 1945 1871 80
Tenn Cop & Chem 6s 1914 1929 1O3h
Texas &, New Orl 5s .1943 s5
Union Oil Of Cal 6s 1942--114A 115
Vanad1um Corp 5S 1941- 1OOas 1914
Warner Bros IS 1939------ 100as 10O34
Warren Bros 6s 1941- Al As
Western NY 4, Pa As 1943-- 1O6N 1O7
White Sew Ma 6s 1940---- 1914
Evening star., 1939-05-31
Iron, Steel |ndices
Gain, With Ingot
Level al 81 Pei.
Banked BIust Furnaces
Resume; Scrap Price
Advances Is Cents
By the Associated Press.


NEW YORK, May 31.-Advances
in all the important indices OF iron
and steel activity were noted today
by Iron Age Magazine.
The steel industry publication OBJ
served: "Ingot production has
gained 4 points to So per cent of
the industry's capacity; additional
blast furnaces that were banked
during the recent coal tie-up have
resumed, indicating that the May
production total, which will be
available next week, will exceed
that of April; the steel scrap price
composite Of the Iron Age has ad-
vanced 13 cents to $142l, and the
Iron Age capital goods index has
gained for the second consecutive
week, now standing at 900 or 1.S
points above the low for the year
thus far of SOL in the week ended
May l3, and this has occurred in
spite of the shrinkage in automobile
assemblies.
The gain in ingot production is
by far the sharpest that has oc-
CURED in any week this year. This
weeks rate compares with an aver
age OF 54.l4 per cent in the first
quarter and is within four points
of the highest week figure of the
year-56 per cent in the week begin
ming March IL -"
Encouraged by the higher steel
operating rates, scrap markets have
taken on tone of strength, even
though not much mill buying is TAX
ing place. At Chicago brokers
are offering $13 and would prob
ably quote $3.50 to consumers. AT
Pittsburgh the range in quotations
has narrowed, while there has beer
an advance of so cents a ton al
Cleveland and one of 25 cents al
Youngstown, quotations in the latter
market now being higher than those
at Pittsburgh, an unusual situation
Another favorable sign is an ex.
panSlon in the volume of fabricated
structural steel awards, which thi!
week total more than $4,000 tons
largest since the first week of Jan.
uary.
bodybuilding requirements art
causing a steady flow of specifica.
tions to the mills, and they will be
augmented by 9,400 tons to be usec
for eight submarines and eight de.
stroyers that the Navy Department
has allocated to its own yards ane
private builders.
Tin plate orders are maintainins
a steady operation averaging 70 PEI
cent, with larger specifications ex.
pected during June"
Evening star., 1939-05-31
Banks Face Decision
On Savings Interest
As Earnings Drop
Action of Newark Unit
Throws Spotlight on
Idle Cash in Vaults
BN the Associated Press


NEW YORK, May 31.-The little
fellow who has been getting some
return from his bank deposits faces
an increasing clamor among bank
ers for reduction or elimination en-
tirely of interest payments on say
ings.
Indicative of what may be a
wider practice, some bankers said,
Is the action of a Newark, N. j.,
commercial bank in announcing it
would cease paying interest on
savings accounts.
Corporations, wealthy individuals
and other large holders of demand"
deposits in banks haven't been get
ting any return on their money
for several years. Commercial banks
have continued to pay interest on
so-called time deposits, funds that
are not subject to immediate with
drawal at the will of the owner.
Now many banks are finding the
interest on time deposits a growing
burden as idle money piles up, while
the return on loans and investments
continues to decline. A large part
of the United States Government
debt, the principal outlet for idle
bank funds in recent years, yields
virtually no return at all. The yield
on long-term Government bonds
maturing in Is years or so-has
fallen to around 2H per cent, a
record low.
With no turn in the trend in
sight, banks have been forced to
consider reductions or removal OF
interest on time deposits to meet
the pinch of declining return on
their earnings.
Commercial banks are estimated
to hold nearly one third of the out
standing $4,000, 900, 900 direct Fed
eral debt. The banks in recent
years have been buyers principally
OF the short-term issues, with ma
! turtles of less than 10 years. These
yield little or nothing. In fact, the
return on three month Treasury
bills. one Of the principal vehicles
for bank loans to the Government
reached the vanishing point this
year.
A special report of the New York
State Bankers Association sug-
gests reduction in interest on time
deposits as the most practical way
toward cuts in operating costs dur
ing the present period of extraor-
dinarily low money rates.
In survey of more than TOO New
York State banks, it found 2 per
cent the prevailing payment on
time deposits, although some had
cut the rate to l per cent.
The report emphasized:
while the trend is to reduce the
interest costs, it seems that we
should give greater consideration to
this matter, inasmuch as high grade
securities are reaching the lowest
returns in the history of the coun-
try when we consider that 25-year
Government bonds are rapidly ap-
preaching "a per cent yield"
Evening star., 1939-05-31
Hidden Taxes
So Different Levies
Placed on Bread
BY ALFRED c. FRODEL,
Tax Attorney and Consultant.
Article 3.

A conservative estimate of the
taxes now baked into each loaf of
bread approximates 20 per cent, or
one-flfth of its selling price.
The SO different taxes are paid by
the farmer, grain elevator, flour
mill, flour trucker, bread wrapper
and baker, some of these taxes being
real estate, personal property taxes,
sales tax on machinery, tools and
trucks, automobile truck State Ii
cense taxes, State and Federal in
come taxes capital stock tax, excess
profits tax and undistributed profits
tax, occupation tax, State franchise
tax, gasoline taxes and electricity
taxes. The railroads carrying grain,
flour, ETC., and which some politi-
clans take great delight in abusing
without any just reason, pay per-
sonal and real estate taxes to cities,
school districts, counties, States,
Federal taxes and many other taxes.
The taxes vary according to the
community, but they are present in
some form in all communities. I'm
less the people insist on no more
new tax laws, it will not be long
before every State, city, etc, will
adopt all of the various different
types of tax laws or tax new sources
and then you will hear of increase
in rates.
All of the above taxes are paid by
you, they are included in the price
of bread. If you pay 10 cents for a
loaf OF bread, about 2 cents of the
10 goes to the tax collectors!
lReleased by the Bell Syndicate. IncN
Evening star., 1939-05-31
Foreign Exchange

NEW YORK Nav 81 ,lp.-small gains
in relation to the dollar predominated
amons major European currencies in to-
days foreign exchange dealings.
take more or less optimistic view of
events abroad was seen in slight improve
ment in many future rates. Discount on
the a0day forward belga for instance.
narrowed to 1872 of cent from is of q
cent Monday.
Spot sterling gained "a of a cent. the
belsa o0la of cent and the Swiss franc
.ooio of a cent. The, French franc was
Late. rates follow: great Britain in dol
lars. others in cents: Great Britain. 4.6SL;
6O-day bills, 4.67ss: Canada; Montreal in
New York. ,99.a5: Canada. New YORK in
marx. 2o.9l; Finland. 2:05: France. . g;
travel 81; ;55: Greece. .s57s; Hungary,
1870; Italy. 5.26h.; Nethsrlands, 53.72;
Norway. 1888; Poland. 1s SO; Portugal.
4.a7: Rumania;- -; sweden, a4,l.l2;
21.22; Argentina free, 23.25; Brazil ,of-
ficiaN sos; Brazil free). $40; Mexico,
"O.15; Japan. 27.32: Hong Kong. 90 Is;
Shanghai. 1915; Yuso-slavia. 80.
Rates in SPOT cables unless otherwise
indicated.
Evening star., 1939-05-31
Rubber Futures

NEW YORK, May 81 (P.-Crude
rubber futures opened to IS higher.
July, 1850; September, 1858; De-
cember 1661-64.
Evening star., 1939-05-31
Expansionin in Electric
Service Stressed in
Edison Report
Gains Scored in Spite
Of General Decline in
Business Activity
BY TIE Associated Press.

BY the Associated Press.
NEW YORK, May 31.-A great ex-
pansion in the Nations electric Serv-
ice through 1888, despite the years
| decline in business activity, is fea-
tured in the annual statistical re-
port of the Edison Electric Insti-
| tute
THE most significant aspect of
the years operations" the institute
said yesterday, was the further in
crease in the use of energy by resi-
Dental, farm and small commercial
customers. This growth occurred
dring year when the general level
of business was below that of 1887
"It is further evidence of the re-
suits achieved by the continuing
efforts of utility companies, in CO.
operation with appliance dealers, in
building up load and of the grow
| ing recognition by customers of the
value and cheapness Of electric serv-
| ice in the home, on the farm and
in small commercial establishments.
Commenting on the increased sta
! bility which has been occasioned by
the greater diversiflcation of the
use of electricity since 1926, when
comprehensive electric statistics
were first collected, the institute
stated: The marked change which
has taken place in the last l3 years
in the proportion of the total energy
used by different classes of Gus
toners is emphasized by the fact
that in 1888 II per cent of the cleo
trio energy distributed was for resi-
Dental use, as compared with only
81 per cent in 1926.
Small commercial customers con-
sumed 16 per cent of the total en-
ergy distributed in 1888, against
1875 per cent in 1926, and large
light and power customers took only
404 per cent in 1888, compared with
462 per cent in 1926.
The growth in the use of elec-
tricity by residential, farm and
small commercial customers has in
creased the stability of the indus
try markedly over the last l3 years
and is evidence of the more general
acceptance of electricity by these
customer groups"
Evening star., 1939-05-31

Wellington Fund 1892 1465
Quotations furnished by Investment
Bankers Conference, Inc, which, states
actions or firm bids or offers, but should
indicate approximate prices. and unless
| otherwise indicated. are as quoted by the
sponsors or isSuers
'Asterisk indicates mot quoted by spon-
sors or issuers."
Evening star., 1939-05-31
Business Conditions
Ra||y.From Slump
And Index Rises
Reduction in Prices
Stimulates Demand
For Steel
Epe cial Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May 31.-The recent
deterioration in basic conditions has
been interrupted by moderate i'm
provement, according to the Alex
ander Hamilton Institute. In addi-
ton, the demand for steel has been
stimulated by reduction in prices.
AS a result the estimate of the an
nual normal demand for steel in
1889 has been revised upward to
372 per cent of capacity from the
1889 low of 362 per cent last week
Actual output has also rallied and
the steel industry is now working
at 48.5 per cent Of capacity, as
against the 1899 low of asa per cent
a week ago. The prospect is. how
ever, that the curtailment Of steel
output will be resumed since pro-
duction is still abnormally high de-
spite more favorable demand sit
uation. Prospective normal require
ments during the remainder of this
year represent only 27.3 per cent OF
the steel industry's capacity to pro-
duce.
The index of business income for
the week ended May 13 rose to 729
from the recession's low of 72O in
the previous week. The index OF
business expenses remained un-
changed at the previous weeks fig
ure of 1877. The excess of expenses
over income, consequently, dropped
to So points from 67 points in the
preceding week, thus making the
most favorable showing since the
last week in March.
In the week ended May 13 the
price index of farm products, which
reflects the national income, staged
a moderate rally from the recess
sion's low in the preceding week
The index of manufactured goods
prices showed no change for the
fourth consecutive week. Conse-
quently, the purchasing power index
rose from 720 to 1872, thus bringing
to halt the downward tendency
which started in the middle OF
March.
Evening star., 1939-05-31
Foreign Markets

LONDON, May 81 lP.-The stock mar
ket, after early gains. fell backward in late
dealings today under profit taking sales
The British. silt-edeed group turned early
gains into fractional losses and home rails
were heavy despite good traffic reports
Copper issues were firm and rubbers were
better. Foreign bonds and transatlantic
securities closed steady
PARIS. May 81 tP.-Trading was more
active In the Bourse today and the general
list was firm. Rentes moved UP Is to So
centimes and Bank of France gained 40
francs. International shares closed strong
with Suez Canal advancing about 400
francs.
LIVERPOOL. May 81 LP.-Cotton futures
trading was restricted today by Washing
ton silence on cotton legislation. Short
covering absorbed limited outside hedging
and the market finished . to 8 points
higher
Wheat futures closed 1s to ss pence
higher in quiet dealings. May expired at
noon fractionally lower under liaudatins
Evening star., 1939-05-31
Investing Companies

NEW YORK, May 81 P.-Investmen
Bankers Conference, Inc
Evening star., 1939-05-31
U. S. Treasury Notes

NEW YORK. May 81 LP.-Prices quoted
in dollars and thirty-seconds:
Evening star., 1939-05-31
Odd Lot DEALINGS

The Securities Commission re-
ported today these transactions by
customers with odd-lot dealers or
specialists on the New York Stock
Exchange for May 27: 1880 pur-
chases involving 46,926 shares; 2,17O
sales involving SIS .237 shares.