Evening Star Newspaper, July 14, 1923, Page 13

REAL Supreme Court ESTATE. Rulings Aid To Investors, Babson Asserts — : . . . . . . . Statistician Points to Optimistic Factors' in Business Situation—Long-Pull Outlook Good, BY ROGER W. BABSON. | Special Dispatch to The Star | w SSLEY HILLS, Mass. July | 1i.—So many people will be bearish | while the sccond half of the area of business readjustment is being com- pleted that it is well to stop once in a while and consider of the | optimistic features of situation. There is much good news constantly coming out. The great improvement in the condition of the railroads; the corrective attitude on the part of labor and the late developments in the foreign situation are all optimis- | tic factors. One optimistic feature t not hear much about, however, is the | present attitude of the United States Supreme Court. It is difficult for the statistician to measure court de cisions. and if he did it too often | contempt of court proceedings might | follow Neve these court de cisions are a great factor in busine and could probably be reduced to a ; special | : e ons of the United States Supreme Court. Three Big Decisions. l The decision In connection with the Southwestern Teleph. Company was exceedingly cheering to Investors. This dect: n clearl; ruled that neither legislatures nor commissions can make rates that are confiscatory | in any way. The court indicated that | the cost of reproduction must be con- side , as well as original cost, and that investors must be treated fairly 80 as to encourage them rather than discourage them. This decision has been welcome by all interests, espe- cially the public utility group. It should make more safe telephone secn T, electric light and power e curities and street railway securities. This does not mean that the Sup: ne Court upholds dishonesty or stock watering. but it does mean that it will protect capital when politicians for selfish motives attempt to jeopar- | dize it. Furthermore. this decision will encourage corporations to appeal to the courts more and bother with Congress and legislatures less during | the next few years than they havi heretofore | Industrial Court Ruling. { The second decision which interests business men was when the United | States Supreme Court held that the | Kansas industrial court can fix or | regulate wages only In a great emer- | ®gency. Briefly, this decision was fl’lzl‘ in_the case of a railroad or coal | strike, where the public is threatened with starvation or disaster, an indus- trial court can come in and fix wages, | but only in such Instances. The Sper | cial “case | was one imvolving the | Fharles Wolf Packing Company. The | United States Supreme Court held | that it was not necessary for this | packing company to do business. | There were other companies from | which goods could be purchased, and | &5 a last resort people could tempo- | rarily go without their products for | & while if nece: V. S most of the states of the country were eagerly | awaiting this decision. the ambitions | of many political leaders will natural- | Iv be greatly curbed thereby. There | will be few attempts during the | next few years to interfere with | business by legislation than there | would have been if the United Stat some the we do theless, | the United States Supreme Court was ! | to the He Declares Supreme Court had upheld the Kansas industrial court. Conflict Over Prices. The third epoch-making decision of effect that the Federal Trade | Commission _cannot interfere in the rights of private business or in the matter of fixing prices. For s time certain great national adver- tisers have been in conflict with the al Trade Commission concerning | ally advertised goods. retallers hav r nationally adv or below cost in rder to et the people into the store and then sell them something else. The na- tional advertisers have claimed that this is not only unfair to the ers but also to the public insisted that their prices be by all retailers. Commission has the cheain stores want to cut prices. has_upheld The ¢ in by the Mennen ibutors of toilet think that this . public interest, dout it. Public in- terest demands good business which will keep the people employed and goods moving. never long pem: prices alw competition or goods at a those who The Suprem ational ad question w Co n too high, | by price cutting than | If prices are too high, thev correct themselves. Price cut- | ting, however, kills the goose that | ¥S the golden e | Business continues fair. The Bab- | son chart ids at 1 per cent above | normal The intermediate area of | prosperity which thre: ned to de-| velop into a period of inflation husl by pric been checked. We have now started In again to complete the period of re- [ adjustment. This Is not bad news but really good news looking at the long point of view. Before a man starts out expanding he should first ¥ up his bills. The same rule ap- lies to a nation. This is the con- e United States has t last re For one I am very | glad of it | ) (Mr. Babson, the noted statistician. ! who is a regular contributor to The | Star, will continue his spe | cles on busine: ditions in next e CHARGE RADIO FRAUDS. Corporation Declares Its Trade| Marks Are Infringed. NEW YORK, “bootlegging’ acts was charged b dio Cor- | poration of America after the arrest of Charles F. Willard on a charge of violating the state law forbidding simulation of trade marks. Willard was held in $500 bail by Magistrate Divine. Manton Davis, of counsel for the radio corporat| asserted that sev- eral large “bootlegging” radio plants were manufacturing by pirated tented processes, various radio prod- ucts with marking, labels and car- tons copled after those used by the corporation. Traffic in the fraudulent | gets, he said, extended from Chicago to Boston, with many salesmen active selling worthless goods as standard | equipment. This apar the office of Francis A. ing contains nine apartments of three EXHIBITS OF BEST rd, Inc. The cons four rooms each. HOLLOW TILE COST ARCHITECTURE ASKED ~ REDUCTION IS-SEEN Movement ' for Museums to Pre- | A considerable reduction in the cost L {of hollow tile construction is prom- serve Samples of Home Build- ised in the recommendatiion of the . . standards committee of the Hollow ing Is Growing. = Tile PBuilding Assoclation for an elimination in many of the sizes and styles of hollow tile. Elimination of | twenty-three of the thirty-six exist- ing varleties has been suggested, with the retention of thirteen kinds as standards for the industry. The actlon was taken in co-opera-| tion_with the division of housing of | the Department of Commerce, which is arrying on a campaign for reduction of varleties in all kinds of building mate- rlal lie movement to have museums in- 1 exhibits of the best architectural | amples of doors, stalrw, and even ' whole houses is gaining considerable headway. Architects for some time have been urging that an effort be| made to pr rve for posterity sam- ples of the best in American archi-| tecture. | Exhibits of the sort planned would | | enable the public to become acqualnt- | M’I ’{;J"j‘&'"'(;’;‘;’[,; ‘1‘::”‘;;;;5'1(:!{”:22:‘ ed with old and modern American de- | tile assoclation to call a conference signs and also enable it to absorb|of manufacturers, engineers, archi-| the fundamentals of good taste | tects, contractors and builders to dis- in | & cuss general adoption of the new building and construction. Students, | gandards. L a too, would benefit, so it is claimed, | and the fine things accomplished in; architecture would live. ‘ Serimamrins At present many fine doorways,| BARCELONA, Jul s columns and stairways are scrapped | lyzed the commercial activity of Bar- | when the houses into which they were | celona for more than two months, has | s = | come to an end. Notice of the settle- | built make way for new and more|yoe O 48 €RC COLCE OF The ot o | modern structures. Sometimes a| the minister of the interior by the gov- | house is preserved entire because of | ernor vesterday. The union leaders | sentimental reasons, but the fine old | have agreed to the resumption of work | houses of colonial times are getting | !mmediate scarcer every year. Many of the finest | LUMBER DEALER DEAD. old homes in Washington have been | | _IWICHITA. Kan., July 14— demolished within recent vears to| make room for new buildings. This destruction of the fine things| Williams, prominent Wichita lumber | gone by has begun to arouse | dealer, died in a hospital yesterday. H: throughout the United ' was well known among lumber men of | and Oklaho: e TRANSPORT STRIKE ENDS. orge C. | 1d_street northwest was xold to a local investor for Maj. H. R. Lemley, through eration was sald to have been approximately $50,000. The build- { and_charm, a poli | that STUDYING HOUSES ERECTED IN EUROPE Horace Stevenson of Shannon & Luchs to Visit Many Countries. Horace Stevenson of the sales de- partment of Shannon & Luchs is now in Europe. He will visit England, France, Italy and Switzerland. Mr. Stevenson will make a report to the Shannon & Luchs organization, on his return, of small-house ideas that might be satisfactorily used in Wash- ington. = Wilson B. Nairn, also of the Shan- non & Luchs sales force, has just left for a six-week trip to the { men Decline in Lumber Movement Revealed by Holidays Made Considerable Reduction| in Business in The nation's lumber movement for | the week ending July 7, as reflected by reports from 392 of the larger commerclal mills of the country, | shows a marked decline from revised reports for the preceding week from | 408 mills. Production fell off about one-third, shipments about the same | and orders declined by a sixth, but| as compared with this time last year | the movement as a whole is substan- | tlally larger. The deelines in produc- | tion and shipments are chiefly due to | the summer let-up and closing of | mills for customary semi-annual re- pairs. Unfilled orders-of the two leading regional Jumber groups, the Southern Pine Association and the West Coast Lumbermen’s Association, are re- ported as 580,481,021 feet as against 601,166,429 for the preceding week, the figures being 326,018,981 feet for the west coast for the preceding week and 316,284,089 for last week, while the southern pine figures milarly are 147,448 and 264,196,932 For all the reporting mills, ship- s were 92 per cent and orders 85 per cent of production, the corre- sponding figures for southern pine mills alone be 77, ana for the west coast and 126. Grouping by themselves the 347 mills with an_ established normal produc- tion, actual production for the week was 74 per cent of normal, and ship- ments and orders 66 per cent thereof. Summary for Week. The following figures give the summary of the lumber movement for last week, the corresponding week of 1932 and the preceding week of 1923: Correspond- Preceding ing Week Week 1923 1 (Revised), 10h Shipments. 173,40 Orders .. .. 160,467, 63 The lumber movement so far this year as compared with the corre- sponding perfod of last year is as follows: Productio Shipments. Orders. 514,206,219 6,767,041,807 5,596,351,042 143,401 1,207 870,600,765 se. Reporting on the situation in southern pine territory, the Southern Pine Association telegraph’s from New Orleans that unfavorable weather for | logging and last week's holiday are ,002 Pacific coast. Mr. Nairn will make a special study of the small detached home developments of California. This is in line with a policy of producing homes of individuality v that denies the wisdom of standardization in matters appeal to taste. Shannon Luchs contemplate reportinkg the r sults - of its investigations to (he builders marketing _their product through its sales department, as well as using them In their own bullding operations. Mr. Shannon says: “The day when people buy simply shelter is past. Now they want a home that not only keeps them warm in winter and cool in summer, but a home that makes a pleasant appeal to individual tastes. More and more people are coming to realize the great effect of home en- vironment on their whole lives, and are demanding homes that are unlike hundreds of others in the| | water “detivery, w reflected in decreases of 11 per cent in production and 9.4 per cent in ship- | ments of southern pine, as compared with the previous week. The decrease of 10 per cent In orders is attributed to the characteristic midsummer lull Only se out of seventy-eight mills giving their running time operated | full or overtime. Hurt by Holldays, From Seattle the West Coast Lum- bermen’s Association telegraphs that customary curtailed business incident to July holidays and the midyear repair ~season reflected in this week's stat but otherwise the figures are without special trade sig- nificance. Production for the 121 re- porting mills was 34 per cent below new business was 26 per cent above production and shipments were 2 per cent below new business. Of the new business taken during the | week 45 per cent was for future | ich amounted to of Country | ness by rail amounted to 1,132 cars. REAL ESTATE. \ i3 DEALERS TOHEAR REALTOR OFFICIAL {Cleveland Man to Speak on National Body of Real Estate Men. Week’s Reports Most Sections 31,064,615 feet; of which feet was for domestic cargo delivery and 9,537,802 for export. New busi- Local realtors will be addressed by Raymond T. Cragin of Cleveland, vice president of the National Association of Real Estato Boards, at a social meeting ‘at Wardman Park Hotel, Of the week's lumber shipments 48 per cent moved by water, being 3 805,613 feet, of which 20,116,178 moved coastwise and intercoastal and 12,- [ Thursday evening, according to Jogn 689,433 overseas. Rail shipments|A. Pett : iy totaled 1,025 cars. Unfilled domestlc | o o Sxeciilye secretary of tig cargo orders total 136,186,170 feet; | W ashington Real Estate Board. unfilledexport orders are 60,857,915 | Under the divisional arrangement feet and unflled rail trade oriers | of the national association cach vice 5962 cars (approximately 119240000 | D rocident 1o assigned & given torrie feet). : The California White and Sugar |tory over which he exercises super= | vision as regional director. All mem- Pine Manufacturers' Association wires |per boards report to the vice from San Francisco that stocks are low, demand general and manufactur- : | president assigned to their particular | territory and he is their representa- ing and_shipping conditions normal. The California Redwood Associa- tive before the councils of the di- | rectors of the national assocfation. tion reports a curtailed volume of | This is the first time that Vice business due to a number of mills being shut down. The Northern Pine Manufacturers’ | Assoclation wires from Minneapolis | President Cragin has met with the that most of its member mills were |local realtors, and he is expected to shut down from a few days to a full | gutline the work of the national as week before and after the 4th of | sociation and also to discuss the de- 1 boards, July. | velopment of loc: ting feature of the Another intere n eature of the G. 0. P. WOMAN APPOINTEE | will be”the. report; coming meet who re- e | Wife of Banker to Serve on Na-| to be made b cently attend al conven- tion of the National Association of Real Estate Boards held in Cleveland A short entertainment program and tional Committee. a buffet supper will close the meeting. oot A . Arrangements are in charge of H. SAN FRANCISCO, July 14.—Willlam ‘,(‘ _Kennedy, chairman of che enter- H. Crocker, republican national com- | tainment committee. mitteeman of California, announced today the appointment of Mrs. O. P. Clark, wife of a Los Angeles banker, as a member of the National com- mittee. The party’s executive com- mittee, recently created, places on SAVED, SEEKS TO REPAY. the committee a woman from each Man Surviving 5-Story Fall Buys Huge Candle for Church. state. NEW YORK, July 14—Arising un- hurt after a fall to the pavement from a height of five stories, Joseph Caprano, a bricklayer, rushed to the | offices of a manufacturer of sacred Louis | candles and ordered one as tall and s himself to be made. —_— PRESIDENT’S FRIEND DEAD. / YORK, July 14.—David Baumgarten, formerly of Cincinnati and | ag heavy ¢ it G : . Srs e ca o weig 7% pounds. a friend of President Harding, died ves- | w1116 placed in the Chupehior S terday of pneumonia at his home on!Carmel. He will carry it there him ide drive. elf. Massachl_lsetts Park ‘Washington’s most beautiful residential section of detach- ed homes. Containing seven million feet of forest-covered land, with six miles of improved streets. Includes what remains of “The Triangle of Increasing Values” between Connecticut, Massachusetts and Cathedral avenues (Woodley Rd.). Over four million feet of land sold. Over ninety homes from $15,000 to $200,000 built and under con- struction. Wooded villa sites, lots and central and side hall brick homes, with lots from 50 to 115 feet front—Park Office, 32d and Cathedral Ave. (Woodley Rd.). Middaugh & Shannon, Inc. Woodward Building, 15th and H Sts. Established 1599 FOUR MID-SUMMER BARGAINS*CHEVY CHASE, D. C. Price, $17,500 3941 Legation Street Northeast Corner 41st Street Beautiful residence of pre-war construc- Hollow tile walls covered with tion. buff-colored stucco above a heayy brick foundation. Lot 52.5 on 41st street by 140 feet on Legatio rooms, tiled bath, attic with servant’s room; hot water floors, laundry trays, porches front and side, n. Eight large, bright heat, electric lights, oak slate roof, beautiful flowers and shrubs, fruit trees, berry bushes, garage, chicken house. Owner forced to move from town. Terms may be arranged. QUINTER, THOMAS & COMPAN 819 15th Street NW. Price, $22,500 5731 Utah Avenue Southeast Corner Rittenhouse Street This new residence of elegant design, just com- pleted, can be sold on reasonable terms at this extremely low figure. Lot 105 ft. front on Utah Ave. and 132 ft. front on Rittenhouse St. House contains 10 beautiful rooms and two tiled baths, with servants’ bath in addition. Hot-water heat, electric lights, oak floors, open porch adjoining living room, conservatory or breakfast room ad- joining dining room. Slate roof; 2-car garage. Price, $1 5804 30th 5,000 Street Semi-Bungalow This unusual semi-bungalo front on 30th St. by a depth of large living room with beauti: room, pantry, kitchen with Pullman breakfast; one bed- room with complete bath adjoining. Second floor has three beautiful bedrooms with plete tiled bathroom, with shower, and immense linen Unusually large closets are the feature of this Cement front porch, oak floors, electric lights, Terms may be arranged. closet. house. hot-water heat, slate roof. w, located on a lot 75 feet 137.5 feet. First floor has ful brick fireplace, dining S immense closets and com- fl Price, $18,500 5830 30th Street Southwest Corner Stephenson Place This handsome “stucco residence is on a lot facing 85 feet on 30th St. and 137.5 feet on tephenson Place. The death of the builder caused the widow to accept this low figure and reasonable terms. two tiled baths, with additional lavatory on first House contains 9 bright rooms, oor. Hot-water heat, electric lights, oak floors, cement side porch, double built-in garage, slate roof. These three homes are in Chevy Chase Park, D. C. To inspect drive through Rock Creek Park via Rock Creek Ford Road or out Conn. Ave. to Chevy Chase Circle and then through Rittenhouse Street to our office at 32d and Rittenhouse Sts., opposite Purple Iris Tea House. Our representative there will be glad to show the houses. Open—Lighted Until 9 P.M. “Real Estate Financing” EXCLUSIVE AGENTS Telephone Main 8416