Evening Star Newspaper, September 18, 1926, Page 21

LUTHERAN WOMEN TO MEET INPARLEY Delegates Representing 32 Synodical Societies to Discuss Missions. | ROCKFORD, 11l., September 18.— From th. 32 synodical societies of the {'nited Lutheran Church in America clegates of the Women's Missionary ciety will assemble in Fourth Bi- izl Convention at Trinity Church in this city from September 25 to 30. From practically every State in the !nited States, every province of t'anada, and at least four foreign ountries, women will gather to com- pare results of the activities of the past two years in supporting and | inaintaining Lutheran foreign mission work and to plan their work for the coming biennial A workers' conference September 25 for the delegates will precede the formal opening of the convention; Sunday morning, convention com- munion service and Sunday afternoon, ight brigade rally; Sunday night, ommissioning of new missionaries for the foreign field. Kach of the week days following will be filled with husiness sessions, morning and after- | con, and addresses at the evening cssions. President F. H. Knubel of he United Lutheran Church will ad- dress the convention Monday night. At the same session Dr. George Drach, recently returned from a trip to the Orient, representing the board of for- vign missions in his official capacity as secretary, will deliver an address on “The Women of the Orient I Have Met.” A young women's missionary con- ress, the first of its kind, has been ‘alled to meet September 25 in con- vection with the convention. This vongress is expected to lay plans for ‘he more effective education along tuissionary lines of the young women {0 the Lutheran churches throughout | he land. FAVOR FORT STANTON SECTION FOR PARK Members of Planning Commission | Visit Site—Piney Branch Val- lev Also Studied. iion of at least a_portion of | f the in of old | <. for prk purposes was | v membel | wk and Plan- | the inspec- | esterday after- rin tner made Stanton i members o ¢ sidered the desir part of the wooded river extending ) asylum toward the I Aged and In ; The commission i Piney nch \a to eted the ng nostucw how litlo deter.me land mi rorthern hounds TWENTY WILL BE CALLED | IN LYNCHING PROBE TCDAY | Grand Jury Investization Svenend- | ed Until September 30, But . | Officials Remain Active. Assoviated Press. he Yy ¢ wy Dranen Byr 1 | day to permit ! land to open the | Circuit Court in_Carroll County on | Monday. Joseph H. Chitwood, special | prosecutor. announced last nizht. | The investigation of the ease wiil | sed. however, MIr. Chitwood | udge Horace Suths declared. The appointed investizators and Commonwealth’s Attorney H. M. Heuser of Wythe County will remain | in Wytheville throughout this week and may be longer gathering what evi. | dence is possible to present the jurors | on September 30, when the inquiry will be resumed. Twenty witnesses will be called be- | fore the investigators today. Most | of them are residents of the eastern end of the county. Twelve witnesses 1 ere heard yesterd A Big Bargain 1736 B St. S.E. 3-room-deep-type house. 6 rooms and bath. hot-water b Wood floors throughout r porche- clectrieity. frigerator, all modern wide aliey. ~ $500 cash, monthly pas- menis te suit.” Oven ard lighted until 8 o"cloc] LACEY & BELT Owners & Builders 493 G St. SE. Phone Frank. 8068 front built-in re- Large lot 1o Real Estate SALESMAN —WANTED This office has an opening for two live- wire salesmen. All replies will be strictly confidential. Apply any morning to Mr. M. E. Morgan Terrell & Little, Inc. 210 Tulip Ave. A most charming. well built home. Jocated in_a delightful section of beautiful Takoma Park Six well arranged rooms. breakfast nook. sev. eral built-in features. large attic. At- tractive flh{uhl::{ .lm‘ &h. 3 A ttier, cozier, ter located home— Jcult 1o fod Anywhere. Other attractive homes for sale. Let Mo Help You Find the Home You Want. Maude H. Lawry 213 Cedar Ave. ° |tariff reductions that ESTATE. $500,000,000 TREASURY SURPLUS IS FORESEEN BY ROGER BABSON (Continued from Seventeenth Page) try or is merely to go one better than the Republican party is debatable. Many of my Washington friends say that the Democrats see tax reduction as popular throughout the Nation and hence merely want to get on the band wagon. Others feel that the Demo- crats will recommend such sweeping the Repub- licans cannot accept them without showing a deficit. Thus the Repub- licans would be between the devil and the deep blue sea! If they re- fuse to make the reductions the Democrats can go before the country in 1928 and represent the Republicans as opposed to tax reduction, while if the Republicans do accept the Demo- crats’ tax reduction program the Treasury will show a deficit and the Democrats can point to the Repub- licans as carrying on an extravagant and inefficient administration. Of course, any such policy would be cheap politics on the part of the Democrats, but it is possible. 1927 vs. 1928. One thing is certain, namely, that the Republicans will use all their influence to put off any tax reduction until 1928. THe Democrats may try to get action in 1927; but any such early action will be very difficult to secure; 1928 will be the year for a reduction in_ Federal income and other taxes. There will be nothing doing for 1927 and it is possible that the legislation of 1928 may not ap- ply to the 1028 income. The tax re- duction legislation, however, is sure to come in 1928 and both parties in THE EVENING STAR, WASHINGTON, D. C. SATURDAY, SEPTEMBER 18, 1926. the presidential election of that year will claim credit therefor. This probable action will be one of the many stimulants which the Republican party has in mind for 1928 in order to help them in the presidential _election of that year. Moreover, the Republican party will need stimulants unless the farming section feels very much better by that time. If the election took place today the Republicans wou'd cer- tainly lose several of the agricul- tural States, thus causing the election to hinge on New York State, which would be the great fighting ground of the election. Hence, as above stated, the Republican party wants good business and a good stock market in 1928. Stocks vs. Bonds. “The Republican administration is not interested in the bond market. Tax reduction, however, should tend to help the market for taxable bonds. The market for corporation bonds should be helped by extending their sale to a wider circle of in- vestors. On the other hand, any such action would tend to be de- pressing to municipal bonds. All re- ductions in taxation for corpora- tion bonds tends to widen the market therefor. Such reduction in taxa- tion, however, tends to narrow the market for municipal bonds. If the output of municipal bonds continues at the present rapid pace and the sug- gested reduction in Federal income taxes takes place, it would not be sur- prising to see lower prices for mu- nicipal bonds in 1928 and possibly 1927, A reduction in taxation should be helpful to stocks of all kinds. The stock market is mainly dependent upon three things—sentiment, money and business. All of these should be helped by a reduction in taxation. Men naturally feel better when taxes are reduced, money should be easier as taxes are lowered, while business sholild be helped by more money go- ing into permanent improvements which will give income from year to year. Business Reports Optimistic. Earnings in 1926 promise to exceed those for 1925. Numerous corpora- tions have already attained larger earnings than were shown in the first half of 1925. Present indications are that we shall see greater earnings in the present half of 1926 than were witnessed in the first half of the year. These indications are taken from the returns of more than 400 corporations, and the majority of them show an increase over last year's earnings. The stocks of some of these corporations are soaring to new heights, although a few com- panies are finding that they cannot hold the pace and are not showing the increased profits that should be theirs. The United States Treasury is showing a surplus, and indications point to a $500,000,000 surplus at the end of th. present fiscal year, mot- withstandi1 g the recent tax cut. A billion-dollar surplus is even talked about in some circles. President Coolidge o' Secretary Mellon should have no worrles as to the financial condition of the Treasury at the clos of this fiscal year or next. Certainly a further cut in taxes is possible whenever they feel the time has come to make such a cut. Former Figures Upheld. It may be well to remember that optimistic forecasts were made about three months ago as to the Treasury surplus. It was estimated for the fiscal year ended June 30, 1926, that the surplus would run between '$250.- 000,000 to $350,000,000. Judging from the numerous criticisms, I should say that most people felt at that time this figure to be too optimistic. A mem- ber of the finance committee even took the time to tell the Senate that Just Closing Up This Big $8,950 ““Lifetime’’ Home Development 5027 7th St., Petworth —between Farragut and Gallatin is the exhibit Home—the highest point in Pretty Petworth—overlooking 16th street. $500 cash--$75 mo. Like the Homes—the Terms Are Most Extraordinary Dig into the details of material and construction and you'll be de- lighted at the quality and character of “Lifetime” Homes. These particular Homes have in addition to the 6 splendid big rooms -—screened breakfast porch and screened sleeping po with built-in tub and shower—master bedroom across the entire front of the home—double-laid floors of highest grade hardwood—with sound and air proof insulation—large separate garage. everything that money can buy. S 14th & K Take Oth St. Car_to Farragut St. 16th St. Bus to Iilinols Ave. ani Farragui—or we will send suto The best of Open from 9 A.M. to 9 P.M. Every Day and Sunday CAFRITZ - Owner and Builder of Communities DECIDEDLY SUPERIOR to the average home that you can buy for 2903 12th St. N Sample house open daily until 9 P.M. The prettiest six-room homes ¢ver offered in this section Our Generous Terms on these homes make this an unequaled opportunity for the purchaser of modest income. Six big rooms, three porches, tile bath, %-inch oak floors, built-in garage. Splendid location, near car lines, on ‘the bus- line, close to good stores and school. N. L. SANSBURY CO., Inc. 1418 Eye St. N.W. Members Washington Real Est Main 5904 these figures were not justifiable. Moreover, these officials were very honest in’ their opinions during those days. However, facts have a way of mak- ing themseives realized, and when the fiscal year 1926 ended on June 30| there was a Treasury surplus offi- cially announced at $377,000,000. This figure was $27,000,000 higher than the previous estimates. Heavy tax re- fund payments and the shifting of postal payments from 1927 to 1926 (made mainly because of this sur- plus), kept the Treasury surplus from going as high as $400,000,000 for the fiscal year, Larger Income Tax Receipts. With the above situation in mind it would seem that we are now justi- fied in forecasting that this year's surplus will be not less than $500,000,. 000 and that there is some chance of it going to $1,000,000,000. This last figure would justify the greatest tax reduction since the war. Some feel that the income tax on 1926 profits foi corporations will be as high as $1,500,- 000,000, while the more optimistic fecl that $1,800,000,000 is quite possible. This figure is almost as large as the total paid by both individuals and cor porations in 1925, Many of- our large corporations witnessed bigger earnings in the first half of 1926 than were seen in the same period of 1925. Following arc a few of the companies and their in creased earnings: General Motors gained 85 per cent, Pierce Arrow, 42 per cent; Union Carbide & Carbon, 33 per cent; Shattuck Candy, 32.9 per cent; Island Creek Coal Co. 51 per cent: 16th St. Heig,htsfi 1303 Geranium St. Completed last Fall; a semi-de- tached house containing— Five Large Bedrooms Combination Bath and Shower Breakfast Room, Dining Room . . Kitchen and Pantry Living Room and Rec. Hall Garage in Rear This house has recently been re- duced from $14,950 to $13,500 —and now we have installed Frigidaire —with no advance in price. With $6.000 cash can be purchased for $12,500. Inspect—then act quickly. Cleaveland & Son Owners—Builders Adams 5260 REAL » UPSHAW ACCEPTS VERDICT OF PRIMARY ‘Will Not Contest Result, Campaign Managers Say—Steel to Be Declared. ESTATE. 21 declare Mr. Steel to he the nominee for the ensuing two-year term. Steel received 10 convention ir. Upshaw 6 and Mayor Wal- Sims of Atlanta 2. Mr. Upsbaw has all along declared that he did not wish to make any charge of fraud against election managers anywhere,” the committes statement said, e feel that ever) patriotic citizen who believes in the . purity of the ballot must indorse our wish to have a fair count. * * * However,” sald the statement, ‘“‘we have reluctantly decided to acquiesce in Representative Upshaw’'s wish.” P Col. Merriam Reassigned. Col. Henry M. Merriam, Coast Artillery Corps, in Hawail, has been assigned to the 13th Coast Artillery, with station at Pensacola, Fla. Fleishman_Co., 45 per cent: Corn Products, 57 per cent; Radio Corpora- tion, 22 per cent; Childs Restaurant Co., 10 per cent; United States Steel, Per_cent: Inland Steels 46 per cent: Jew England Telephone & Telegraph, nearly 300 per cent. Therefore, I re. peat that a further tax reduction is sure to come and that it could come at once. I think that—for political reasons—it will not come until 1928. (Cony . 1926.) Bayard Henry Dies. PHILADELPHIA, September 18 (#).—Bayard Henry, lawyer and financler and a director of the Penn- sylvania Railroad Co., died yesterday in a San Francisco hospital. He was 69 years old. By the Associated Press. ATLANTA, Ga. September 18.— Representative W. D. Upshaw of the| fifth congressional district, defeated | for renomination by Leslie J. Steel in the recent Democratic primary, will not contest the result, his campaign ~ommittee announced vesterday. The district convention today will formally —e- An automobile highway to Ve Bolivia is being nlanned’. it 2SS AN SRR SRR RS A After You See NLY then will you be able to judge accurately the value of any offerings you have already considered! Homes represent the true Colonial style of architecture, with every modern comfort —and are situated amid a natural beauty un- rivaled by any section of the city. They are the product of 30 years’ building experience. Every Home a “Model Home”’ VILLAGE | 4478 Reservoir Road Beautiful semi-detached brick home on 40 foot front lot, 6 rooms, bath, hot-water heat, large attic. The house is an individual type and very attrac- tive. The interior appoint- ments are exquisite. Drive out and this Priced Right—Conventent OPEN SUNDAY THOMAS J. FISHER & CO., Inc. 738 15th St. NW. Main 6830 erms and Sons. Edwin M. Daily. Bureau. R. Peale Herrick, Washington Patent Attorney. On Ye Way to— Villagers Are— Capt. Harris Jones, . Asst. Director of U. S. Publie Buildings and Public Grounds. Mr. Clark Moses, Vice President of W. B. Moses Attorney, Income Tax Division, U. S. Internal Revenue Bureau. Wm. Lee Bruckett, Associate Editor, United States Clarence M. Charest, A tant Solicitor, Income Tax Division, U. S. Internal Revenue Our newest “Model Home,” at 7556 Alaska Ave. is now ready. Center hall plan—eight rooms, 2 baths and garage. Also be sure to see the beautiful “Morene”” Home just completed. Many unusual features. Open and Lighted Daily Until 9 P.M. Drive out 16th St. to Alaska Ave.— on to 13th St. and Shepherd Park. .G Preuninger S Sons Realtors 706 Colorado Bldg. oxhall Vi aqe America’s Smartest Colony of Group Homes A Community Without a Rival HIS is the thought so often expressed by those who come to see and stay to admire the quaint dwellings of FOX- HALL, where Old World charm and New World comfort are so skillfully blended. There is no other community that can be re- garded as a competitor of the VILLAGE, for there is none other quite like it—the individual homes, the wooded setting of Glover Park, the inimitable beauty of the community as a whole are without a peer in the Nation’s Capital! Three weeks ago we announced the latest group of dwellings to be completed—seven de- lightful residences at the very gateway of the VILLAGE, approached by walled terraces of a character found nowhere else in Washington. Five of these homes have already been pur- chased by people of discernment; the two re- 2 3 maining are considered equal in architecture, construction and detail of fitments to houses selling elsewhere as high as $18,500, and you cannot fail to appreciate their unusual value at— $14,250 and $14,750 The route to FOXHALL VILLAGE is a short and pleasant one, slightly over 2 miles from Dupont Circle, via Q Street west to Thirty-fifth, worth to Western High School and west on Reservoir Road to the VILLAGE * * * Or take the FOX- HALL VILLAGE bus at Dupont Circle. POl PS 1417 K Street—Main 9300 Leaders for 19 Years in the Sale of Washington Homes Bayly,