Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-08-27

Economy Of Nation
In StabiIizing Stage,
Commission Is Told

The American Legion's work
horses began turning the wheels
today as they started committee
meetings in the city's hotels.
One of the key committees,
the National Economic Commits
sion, heard a Government official
report that the Nations econ
omy is in the "stabiliZing stage"
Other commissions like the
Emblem, Publications, Distin-
guished Guests, Internal Affairs
and Child Welfare, were in the
preliminary stages of preparing
reports to the convention.
Herfan B. Dyer, assistant
Commissioner of the Bureau of
Labor Statistics. told the eco
nomic commission that unem-
ployment in July was about
double that of July. 1853, but
said that strong evidence of sta
bility are present in the economy.
The next six months, he said,
may possibly show the begin
nings of an upturn in the econ
omy. He said stability is his
term for the factors present now
that the "leveling-off" process
has ended. Retail trade and con-
struction shows strong signs of
stability" he said.
rs Pet. Increase.
Thomas B. King, acting as
sistant deputy administrator in
the Loan Guaranty Section of
the Veterans Administration, re-
ported a 76 per cent increase in
the number of home loan guar
antees approved between May
and July this year as compared
with the same months last year.
He said proportionately, more
Korean veterans are applying for
the home loan guarantee than
their World War II counter
parts.
He said a trend which he feels
Is mot good" is one which has
seen the number of guarantees
on home purchases without a
down payment requirement in
crease nearly 20 per cent in the
past year. The percentage OF
such loans made in July, 1858,
was 8 per cent of all CT bill
home purchases as compared
with q per cent in July this
year.
He attributed the big jump to
"loose credit" combined with the
economic fact that many vet
Grams just did not have cash to
put into a home purchase. Bad
effects can result if too many
veterans are unable to meet their
mortgage requirements and de-
fault, he said.
Economic Commission Chair
man w. c. DAM Daniel, a can
didate for national commander,
said other Government officials
who will be heard from today
include representatives of the
Departments of Interior and
Agriculture and the Civil Service
Commission. He said a report
would be prepared for submission
to the Executive Committee at a
meeting tomorrow in the Shera-
tom Carlton Hotel beginning at
$50 am.
Emblem Commission.
The blem Commission,
which does a 81 million business
with posts throughout the Nation
in official flags, uniforms and
other uniform Legion gear, was
meeting in the Sheraton Carlton
to prepare the financial report
to submit to the Finance Com
mission sometime late tomorrow.
The Publications Commission,
also meeting at the Sheraton
Carlton. was discussing editorial
and advertising policies concern
ing the publication, the Ameri-
can Legion Magazine. James F.
O'Neil, publisher, said no major
changes in the formal of the
magazine are planned.
The Resolutions Assignment
Committee, which assigns the
numerous resolutions coming in
from the States to the various
convention committee, met also.
C. w. Griffith, of Manning,
S. c., the chairman. reported the
committee progressed almost
half way in its listing of be-
tween 600 and 700 resolutions.
He said there were more resolu-
tions this year than last, but
their content was not disclosed.