Evening Star Newspaper, December 31, 1926, Page 21

THE EVENING ST, AR, WASHINGTON, D. C., FRIDAY, DECEMBER 31, 1926. Congress Liberal to City of Washington in Legislation Passed in' 1926 PROMINENT IN DISTRICT’S TRADE BODY AND CIVIC WORK DURING THE YEAR YEAR IS CHIEFLY MARKED BY BEAUTIFICATION ACTS Legislation to lrmrli);'orvem(]apital Govern- ment Also Among Benefits Bestowed Upon City by Congress. n of legislation enacted during 1926 included b | jects for the beautification | the National Capital and for the improvement of its municipal govern tent that the year now passing into | history will e remembered by Wash- | ingtonians as the beginning of a new | cra_in Capital development. When the area south of Pennsyl-| vania avenue has been lined with im- | posing Federal buildings, when the| war-time dormitories on Union Sta- | tion Plaza have given way to the hand | of a land pe planner, when the| Kotanic Gardens have been extended | southward to Canal street and the| Rock Creek and Potomac driveway have been i together by the im- | provement intervening valley, | District historians will recall that all of t under: e set in mo- | tion in the cal "he laws affect e passed in two grour ents and chang chinery Under the lowing arc e Years' Building Plan. of a fiveyear $ilw 000,000 Pederal building program tc get Government employes out of un- | ghtly temporary structures and to| save million dollars _annually for the rental of private buildings. Authority to buy for §820,000 the ea bounded by First, Second, B and | ial streets for the relocation of the | Botanic Gardens, after which the e: isting gardens on Pennsylvania ave- ie will fit into the Mall improve-| ment. Appropr needed Union ton that | 6 may be separated | physical improve- in municipal ma- | former heading fol the outstanding the Authorization ion of the last installment purchase of the Plaza, amounting to Approximately half of m was available in the Treas- as a balance from the appropri- ation made when the plaza purchase was started more thdn a decade ago Legislation to clear the plaza of build- ings and give it a park treatment not yet been enacted. 1 Appropriation of $600.000 from the | surplus fund of the District to ac quire the last strip of private land needed to join Rock Creek and Potomac Parkways. Smoot’s Triangle Bill. Before the old year had faded out the Senate had passed another bill at the instance of Senator Smoot, broadening the scope of the $50,00( 000 building program to include pur- chase of all the remaining private land in the triangle bounded by Penn- sylvania avenue, B street, Fifteenth street and Peace Monument, and au- thorizing an additional $25,000,000 for that purpose. While this measure is not yet a law, favorable action by the House is expected during the pres- ent session. Another important project which reached the same stage of progress during 1926 is the bill for establish- ment of a national arboretum on the Mount Hamilton tract, at the north- ern end of Anacostia Parkway, for the scientific study of plant life by experts of the Department of Agricul- ture. The Senate passed the bill in the Spring and House leaders have promised to put it through that branch of Congress at this session. One of the first and most important enactments of the vear was the crea- tion of the National Capital Park and Planning Commission, to co-operate with all agencies of the Federal and District governments in accomplish- ing an orderly and attractive develop- ment of the city. The annual District appropriation act, which will add to the physical betterment of the city through the erection of school buildings and the paving of streets, was one of the Jargest, carrying a total of more than than $§34,000,000. It continued, how- aver, the arbitrary lump sum_contri- butipn of $9,000,000 as the Federal Government's share of Capital main- tenance. Limitation on Purchases. The appropriation act contained a new objectionable feature in the form of a limitation, preventing the au- thorities from paying more than 25 per cent in ex of assessed value for any land for school or playground sites, with a similar restriction ap- plylng to part of the appropriation for park sites. The District Commis- sioners have not been able to buy school sites within this limitation. The appropriation act also directed the Commissioners to make a 123 per cent increase in water rates to meet the cost of additional water mains. [ Commissioner endeavored to this incre: by having the | ngton aqueduct, which is under the War Department, maintained out of general revenues instead of being made a charge against water users, but without success. Congress was equally active in put- ting through legislation affecting the administration of municipal affairs. Under this heading the principal meas- ures were: Creation of a Board of Public Wel- fare, in which has been merged all tunctions of a charitable, r:u'rl’:'lhn;nl; and social nature. It has taken the | separate agencies, such us the Board of Charities, the B Children’s Guardians and the h of trustees of the National Training School for Girls, anting financial allowances mothers to enable them to children at home instead of them to institutions when left destitate. A fund of car is to be provided for this purpo: The Board of I lic Welfare will continue to take children under its guardianship in cases where 1t is found their homes are not proper ces for them New Util Creation of a Public Utilities Con} missjon separate from the Board of | Comumissioners, but with the Engineer Commissioner as an ex-officio member. Revision of the traffic law, the director authority to suspend permits when he deem driver un subject to an appe the Commissioners and a review the District Court of Appeals, woal ided for the rei a permits ever vears ans of keeping check on hose who should not have permits. The revenue thus obtained is to be used for the system of au- tomatic t 3 A new substantive law for the man- agement and expansion of the Free Public Library system, giving definite xhape to t le of establi branch libraries within sendin; they are £100,00( jes Commission. H | 1 by | by providing for the annual in stead of the biennial assessment of real estate and changing the time for payment of taxes from November and May of each year to September and March. aw | retirement | advi ington, including the District govern- ment worlk ed the maxi- mum annuity from $720 to $1,000 a ear and increased the employes’ con- ribution to the retirement fund from 21, to 31 per cent of their s The employes mum annui . with optional after 30 years of service at lower age limits. They accepted a less desirable law in the hope of hav- ing it further liberalized within the near future Study of District Needs. In the Fall of 1926 a subcommittee of the House District committee, head- | ed by Representative Ernest W. Gib- son of Vermont, undertook a compre hensive study of the District govern- ment with a view to recommending further legislation that may be found able to improve the administra tion of municipal affairs. Hearings have been in progress for several months, but the subcommittee has not completed its labors. In April Representative Blanton of Texas made charges in the House nst former Commissioner Freder- A. Fenning, involving his practice guardian for mentally incompetent persons. A subcommittee of the House judicizry committee investigat- ed 34 articles’ of impeachment that had been outlined by Mr. Blanton. A majority of the subcommittee found that the office of District Commissioner was not a Federal office, and, there- fore, not an impeachable office. The report cleared him of the violations of law charged in the articles of im- peachment, but found fault with cer- tain phases of his practice. Hearings also were held on the subject by the House District committee and by the House veterans' committee. Shortly after Congress had recessed for the Summer Mr. Fenning resigned from the commissionership. : The Senate District committee early in the year instituted an investigation into the price of coal in Washington, resulting in an arrangement whereby dealers agreed to furnish certain data to accountants in the Controller Gen- eral’s office to enable them to make a report to the committee on the rea- sonableness of prices in the District. The report has not yet been com- pleted. of $1 New Wing at Jail. In addition to the structures con- templated under the Federal building program, Congress in 1926 appropri- ated for a new”wing at the District Jail and passed a law authorizing a new Police Court Building, but has | not made the appropriation yet for the latter structure. Congestion at both the jail and the Police Court was revealed by an investigation made by The Star. Plans likewise are under- way for a fireproof building for the recorder of deeds, the appropriation to be made later. After the §50,000,000 Federal build- ing program had been authorized in substantive law early in the vear, Congress appropriated $5,750,000 as the first installment toward carrying it out and authorized the making of contracts up to a limit of $34,550,000 under the program. New buildings for the Department of Justice, Department of Commerce, Internal Revenue, independent offices, Department of Labor and an archives building are being planned for early erection in the triangle south of Penn- sylvania avenue. Enlargement of the Liberty Loan Building already has been started, and the Government has purchased the Economics Building, Linworth place and C street south- west, as a branch of the Department of Agriculture. Land adjoining the Government Printing Office on G street, between North Capitol and First streets, has been acquired for future enlargement of the big print shop. Condemnation proceedings have bheen authorized for purchase of the square Just north of the Library of Congress and facing the Capitol as a site for the proposed United States Supreme Court Building. There are other pro- posed structures that will be planned later as the building program pro- gresse: Other Local Legislation. Other pieces of local legislation en- acted during 1926 were: Authorizing a new bridge across Rock Creek at M street, funds for which have been asked in the new budget. Providing for the payment to re- tired policemen and firemen of pen- sion allowances they failed to receive a number of years ago. Authorizing an allowance of $75 a year to each member of the Police and Fire Departments for uniforms and equipment. A general law empowering the Com- .missioners to open and widen streets in cases where benefits cannot be found equal to the damages, the dif- ference to be met by appropriation from the general revenues. Authorizing sale of District water to residents of Arlington County, Va. Authorizing purchase of a garbage disposal plant for the District in Prince Willlam County, Va. Giving the Commissioners jurisdic- tion over Conduit road, formerly vest- ed in the War Department, so that treet and sidewalk improvements can be made. stablishing a tree nurse) strict in Anacostia Park. Reorganizing the Recorder of Deeds Office 50 as to abolish the fee system after a certain date. Abolishing the half-cent tax paid by passengers crossing the Key Bridge on street cars. “Providing for the widening of Har- vard street entrance to the Zoo and for the widening of street north- east, between G and Myrtle streets. Providing for the regulation of the sale of Kosher meat in the District. A resolution directing the Secretary of War to secure bids for the com- pletion of the Tomb of the Unknown | Soldier in Arlington National Ceme- tery. A law authorizing construction of two large bathing pools, one for the white population and the other for the colored residents of the District. The funds have not yet been appropriated and the fonal Capital Park and Planning Commission has decided to recommend that a series of smaller pools be provided in different parts of the city, in preference to two centrally located pools. The Senate passed the bill carrying general thority for the abolition of remaining railroad grade crossings whenever funds are made avallable, but this measure is still pending in the House. The House, on the other hand, passed a bill modifying the Borland street paving assessment law, which | still awaits the action of the Senate. | This bill would not relieve property owners from paying half the cost of the original pavement, but would re- lieve them from assessment for re- for the Aaars AR ~EE, “EE HEE = E, Upper row, left to right—Edwin C. Graham, president of the Board of Trade; M. A. Leese, president of the Chamber of Commerce; Ross P. Andrews, president of the Merchants and M: Lower, Left to right—Harry > citizens’ associations on the Citizens’ Advisory Council. BY J. RUSSELL YOUNG. OID of everything refem- bling a national or inter- national crisis and un- marred by any real grave or serious domestic situ- ation or complications President Coolidge’s year, just closed, may be easily described as a most sfa tory and gratifying one. So far as the actual running of the Nation's business was concerned the past year was one that would have been to the liking of any President. First of all this Nation was at peace with the world. There was adequate employment for the people | and the country generally experi enced a prosperity greater than in any previous year in the history of the Republic. Besides all this, the President had the satisfaction of carrying out two of his major poli- cies in a most successful manner— further tax reduction and a continu- ation of governmental economy. Probably the outstanding features of the president’s year were his ac- complishments in the matter of gov- ernmental economy. He contends that the Nation's prosperity during the year has been greatly promoted by the economy policy of his admin- istration, principally because the latter resulted in reduction and re- form in national taxation. The ad- ministration’s tax reduction plan, which was enacted by Congress la: Winter w responsible for rele: ing many millions that went into the development of industries and made credits more liberal, all of which contributed to the general prosperous state of the country. Although taxes were lowered the administration's practice of economy resulted in the accumulation of a Treasury surplus during the year estimated officially at $383,000,000 but which authorities privately esti- mate at more than $400,000,000. The President at first suggested that this huge sum be turned back to the tax- gpayers, but the concensus of opinion among the Republicans in Congress is to apply it to further reduction of the public debt. Sponsors Building Program. Next to the tax reduction during the past year the principal legi: tion sponsored by the administ tion was the five-year public build- ings program which calls for the erection of public buildings to cost $165,000,000, of which $50,000,000 is to be spent in the District of Co- lumbia. Other important legis tion in which the President was in- terested during the year was for the development of inland water- ways, the construction of public roads and the liberalization of the retirement law for Federal employes The President resisted all efforts of those to bring about the enactment of farm relief legislation of a=So- called radical nature. He advocated relief of a sound and practical nature and gave his approval to bills of this class, but despite his support the:latter went down to di feat along with the more radical measures. Upon the recommendation of the President the Senate voted its ap- pr to American adherence to the World Court, but with reservations. Inasmuch as some of the powers of the League of Nations have indicated that these Senate reservations are not acceptable 1o them, the President has very recently made it plain that he is willing to let the World Court mat- ter go into the discard unless this country is accepted upon its own terms.” Other important accomplish ments bearing upon foreign relations were the ratification of the terms for the settlement of the Italian debt and the agr2ement upon terms for the set- tlement of the French debt, which have been approved by the House, but which will not be put to the Sen ate for approval until the French Parliament has approved them. Silence Maintained. The President lived up to his repu- tation for silence. During the past 12 months he made barely more than a dozen public addresses and all but four of these were made in this city. The occasions for his local speeches were: Memorial day exercises at_Arlington: unveiling of the statue in West Poto- mac Park to the memory of John Ericsson, inventor of the iron-clad Monitor; the opening of the annual meeting of the Daughters of the American Revolution; the annual A lberalized retirement law for the $5,000 Government employes in Wash- placement of the street after it wears ouly meeting of the Boy Scouts; the an- nual meeting of the American Red Cross; the International Oratorical Contest; the annual meeting of the business organization of the Govern- ment, and the annual convention of Department Superintendents of Edu- cation. The speeches made out of Washing- ton were at Williamsburg, Va.; the opening of the Sesquicentennial in Philadelphia; the Armistice day cele- bration in Kansas City, Mo., and the celebration of the 150th anniversary of the Battle of Trenton, in Trenton, N. J., last Wednesday night. The President indulged in only a few other journeys outside of Washington. Besides his trip to and from the Adir- ondack Mountains in New York, where he spent his vacation last Summer, he made a five days’ visit to his old home in Plymouth, Vt., and a hurried trip to Northampton, Mass., for the pur- pose of casting his ballot in the No- vember elections. When he went to of the City Club; Jan ssociations. the opening of the Sesquicentennial the President inspected the new bridge across the Delaware River linking Philadelphia and Camden J., which included a brief visit to the latter city. He motored to Loudoun County. to visit the old home of President Monroe, and en route he stopped off at the historic old courthouse at F fax Court House, V Besides these trips the President, with Mrs idge, made frequent journeys the yacht Mayflower, but no one of these cruises took them farther than the waters of the lower Chesapeake Bay. Although the President formally re- ceived a number of accredited rep: sentatives of forelgn governments, the most notable tor at the White House from a foreign land was Queen Marie of Rumania, in whose honor the President and Mrs. Coolidge enter- tained at dinner. A similar honor was MONETARY OUTLOOK IS BRIGHTER THROUGHOUT WORLD AS 1926 ENDS Belgian Stabilization, Franc’s Recovery, Impro ment in Japanese Yen and Italian Lira Among Favorable Factors of Year. By the Associated Press. NEW YORK, December 31.—Stabil- | ization of the Belgian currency on a new gold basis, a remarkable recovery in the French franc late in the year, the return of the Japanese ven and the Norwegian kroner to within a short distance of parity and substan- tial improvement in most of the other foreign exchanges signalized a world- wide movement toward more stable monetary conditions in 1926. At the close of the year the outlook for sound currency conditions was brighter than at any time since the war, largely due to the cumulative ef- fects of a constructive program sup- ported by international bankers and the foremost economic authorities of all countries. Within the next year, it has been predicted by financial experts, the French franc and the Italian lira will join the other European currencles which have gone back to the gold standard. Revaluation probably will be necessary, as it was in Belgium. Recent developments have indicated that attempts were being made to as- certain the true levels of these ex- changes. Belgian Move Helped Others. The Belgian monetary program, ef- fected with the aid of a $100,000,000 international loan in October, uhques- tionably gave a powerful impulse to stabilization plans in other countries. Previously, both Belgian and French francs had gone through the most troublesome days in their checkered histories, plunging to record low levels in a Midsummer slump. After selling above 415 cents early in the year the Belgian franc tumbled to 2.07% cents in July after political disagreements had temporarily made it impossible for the country to obtain external loans and imperiled the sta- bilization project. Under a new min- istry, financial reforms were subse quently carried out, putting the gov ernment tn a position to undertake its program. This involved the creation of a new unit—the belga—valued around 13.91 cents, or the equivalent of & francs, then pegged at 2.78 cents. The long delay in effecting a settle- ment of the French war debt to the United States, coupled with serious financial unsettlement in that coun- try, contributed to the downfall of the Irench franc, which touched a Fecord low of 1.93% cents before the decline was checked. The return of Premier Poincare to power and his success in reshaping the finances of the repub- lic had a steadying influence on the exchange. A gradual recovery, which set In late in the Summer, was ac- centuated by the Belgian aperation, and toward the close of the year the franc was selling around the 4-cent level, more than 100 per cent above its- low. The Italian lira, protected by a $100,000,000 loan, was in a better po- sition fo withstand the vicissitudes of exchange trading than other Euro- pean currencies. The Summer reac- tion carried it down to 8.16 cents, but it soon rebounded to a new high above Indications that Japan was prepar- ing to restore the gold standard were seen in the climb of the yen back to virtual parity with gold above cents. Bankers in close touch with the situation, however, explained that the year’s advance of almost 6 cents had been due in part to speculative purchases of the currency, anticipat- ing its complete stabilization, and that the Japanese financial _authorities might delay the lifting of the gold em- bargo until satisfied that the exchange would be able to meet the test with- out causing any financial or trade dis- turbance. ~Large gold balances have been built up in the United States as a safeguard to stabilization, which is almost certain to come in 1927. After grappling with the probl of preventing a too rapid apprecia- tion of its exchange, Norway appar- ently decided that conditions war- ranted a higher valuation and the Bank of Norges accordingly revised its buying rate for the krone. The action was interpreted as a move toward the re-establishment of the gold standard at the pre-war basis of 26.80 cents. The currency which had been quoted around 20 cents early in the year shot up to within a c parity late in the Fall, and &, thetic advance took place in the other Scandinavian rates. \ Chinese Currency Depressed. The Chinese s severely depressed by the sharp break in the price of this metal which fol- lowed the recommendation of the Royal Currency Commission that the Indian monetary system be trans- ferred from a silver to a gold basis. Hongkong fell from its January high level above 58 cents to 46 cents in October, Shanghai from 75 cents to cents and Peking from 79 cents to cents. Partial recoveries took plac late in the year despite political di turbances in that country. The In- dian rupee also declined about a, cent to a new low rate in the year. South American currencies were T unsettled during the year, with Brigfian milrels falling below ‘cents in December on reports tha stabilization would be undertaken around this level. Argentine pesos fell below 39 cents in the Spring, but were back around 41 cents as the year drew to a close. EARNINGS COMPARED. Big Increases Shown in C. & O.’s Yearly Revenues. In the January issue of the Chesa- peake and Ohio and Hocking Valley imployes’ Magazine there is a com- parison of the earnings and expenses of the Chesapeake and Ohio as given in reports to the stockholders in 1576, 50 years ago, and figures for last year's operations. There is an in- crease from $1,099,512 to §123,184,103 in_operating revenues, and from $1, 243,035 to $88,981,418 in operating ex- penses, while the comparison of its mileage and equipment then and now 4% cents and was holding not far from that level at.the-ead of the year, shows just as remarkable an in- creasey 49| ufacturers’ Association, and Maj. Gen. Anton Stephan, president of the City Club. Center, left to right—Ben. T. Webster, secretary of the Board of Trade: W. Dorsey Hyde, ir., secretary of the Chamber of Commerce; Shaw, secretary of the Merchants and Manufacturers’ Association; A. 0. Thorup, secretai tion of Citizens’ Associations and Jesse Suter, former president of the Federation of Citizens’ 1 Stull, George R. Wales, George T. Havener, Robert Faulkner, Fred S. Walker and W. I. Swanton, representing the Edward D. nes G. Yaden, president of the Federa- accorded the Crown Prince of Sweden when he visited the White House ear- | lier in the year. | For the purpose of * making a thorough study of the political, eco- nomic and_social conditions in the | Philippine Islands the President ap- pointed Col. Carmi_A. Thompson of Ohio as his personal representative to visit this insular possession. The lat- ter’s report of his investigation was recently made public and submitted to_Congress for its information. Various efforts were made during the recent congressional campaigns prior to the November elections to get the President to take an active part in | behalf of Republican candidates for the Senate and House, but he stead- fastly refused to take any part other | than to write a letter to the Repub- | lican State chairman of Massachusetts in which he expresesd the hope that the people of his own State would re- turn his personal friend, Senator But- ler, to the Senate and re-elect Gov. Fuller. Despite the President’s appeal Sen- ator Butler was overwhelmingly de- feated by David I. Walsh, his Demo- cratic opponent. President Coolidge answered his political eritics after the November elections b; ng that al- though the Republican majorities in the Senate and House were reduced, he looked upon the general outcome of | the election as a Republican victor: {and an indorsement of his administra- | tion, | The President had the satisfaction { of going through the entire year with- ny changes in the personnel of binet. He was called upon, how- , to make a number of highly im- portant appointments, prominent | among them being three assistant secretaries in charge of the air ac- tivities of the War, Navy and Com- merce Departments; these were F. Trubee Davison of New York, Assis: tant Secretary of War; Edward P. Warner of Massachusetts, Assistant Secretary of the Navy, and William cCracken of Illinols, Assistant ¢ of Commerce. O'Connor was reappointed chairman of the United States Ship- ping Board, and Jefferson Mevers of Oregon, and Roland K. Smith of | Louisiana were appointed | of the board. Floyd R. Harrison was | appointed to the War Finance Corpora- | tion; Henry H. Glassie of Maryland, reappointed to the Tariff Commission nd Edgar B. Brossard of Utah and herman J. Lowell of New York, ap- pointed to this commission; Lewis J. Pettijohn of Kansas was appointed to the Federal Farm Loan Board; Cyrus E. Woods of Pennsylvania and Richard V. Taylor of Alabama were appointed to the Interstate Commerce Commission, the latter not having yet been confirmed. Carl T. Schueneman of Minnesota was appointed Secretary of the Treasury: Farnum of Massachusett | Attorney General; Abram E. | Towa and Charles W. Hunt, Iowa, to |the Federal Trade Commission. The following were appointed to the newly created Board of Mediation: ‘inslow of Massachusetts, . Morrow of Ken- liams of Oklahoma, Wallace G. Hanger of the District of Columbia, and Hywell Davies of Cali- fornia. Charles S. Hamlin of Massachu- setts, was reappointed a member of the Federal Reserve Board for a term of ten years. Changes in District. Appointments made during the year directly affecting the District of Co- lumbia were those of Proctor L. Dougherty to sueceed Frederick A. Fenning and Sidney F. Taliaferro to succeed Cuno H. Rudolph as District Commissioner; Peyvton Gordon, re- appointed United States attorney for the District; Edgar C. Snyder, re- appointed United States Marshal, and James A. Cobb, Charles V. Meehan and George C. Aukam, judges of the Municipal Court. Judge Aukam has since died and his successor has not been selected. The following were appointed to the National Capital Park and Planning Commission, created by Congress dur- ing the year; Frederick L. Olmsted of Massachusetts, Frederic A. Delano of the District of Columbia, J. C. Nichols of Missouri and Milton B. Medary, jr., of Pennsylvania. The only changes in the personnel of the employes of the White House were the appointments of Miss Ellen Riley of Boston, Mass., to succeed Mrs. A. Jaffray of this city as George R. Assistant Myers of | | of music; Miss Ethel Bray, director of members | RETIREMENT BILL LAUDED AS BENEFIT TO TEACHERS Passage of the teachers' retirement law allowing ‘more adequate retire- ment provisions with the view of im- proving the teaching service in the District of Columbia is stamped by T Frank W. Ballou, superintendent, and the most far-reaching importance writ ten during the eventful 1926 school year, which brought the enrollment figures above the 70,000 mark for the first ytme in school history. The success achleved In securing the prompt enactment of this legisla. tion, designed to make retirement of school teachers desirable rather than a specter to be feared, is credited to the manner in which the legislation | was organized and presented to Con- gress. School officials, members of the Board of Education and the teachers’ council committee all worked with a perfect unahimity of opinion, thus creating a favorable impression upon the members of Congress hand- ling the legislation. The year just closed h: able one in the carrving five-year huilding progr Iy fnasmuch as the t single appropriation In the building program was_allotted by the budget director at the opening of the December sion of Congress. Program Progress. | Concrete evidence of the progress of the five-vear building program was been a not- m, particular | September, when six new elementary schools were added to the system. 1t is also noted that work is being rushed on four new junior high schools, thre { of which are expected to be formally opened in February. The The Stuart Junior High, the { Junior High, a new wing to the M: | tarlana Junior High, all of which expected to be opened in February and a new wing to the Hine Jun High, scheduled for completion April. ‘Whilo the enroliment nearly tou 70,000 during the latter part of 19 honor of seeing the largest enrollment, that of December 3 last, which was 70,553 pupi cational forces of the city came into the limelight when, in February, the department of superintendence of the Natlonal Fducation Association held its annual gathering here. The host of educational leaders from all over the United States and many foreign countries taxed the accommodations ofe the city to thelr capacity and the several score of sessions at the Wash- | ington Auditorium of the department | and its allied bodies were declared to | be the mos: notable ever held. | Dr. Ballou Wins Praise. | | Dr. Frank W. Ballou, superintend- ent of schools, as president of the Na tional Education Association, was the guiding spirit of the gigantic educa- tional conference- and jeceived en- thusiastic commendation’ from civic leaders on the manner in which. he handled the great educational event. | On Washington's birthday the mem- | bers of the department “of superin- | tendence were addressed by President Coolidge, A distinct loss to the school system occurred on May 30, 1926, when Dr. Hosmer M. Johnson, supervising principal of the seventh division, died after 85 years' meritorious service in the school system. A notable retire- ment of the year was that of Miss Annie M. Wilson, director of music on June 16, after 50 years' service. Two other outstanding reirements were those of Miss Marion P. Shadd. assistant superintendent of schools and J. C. Nalle, supervising principal Outstanding appointments of schoo officials during the year were: Miss Sibyl Baker, director of community center work: A. H. Johnson, director | drawing; Miss Elizabeth A. Hummer other school officials as the chapter of | out of the| ses-| seen at the opening of the schools in | remained for the year 1926 to win the | At the very outset of 1926 the edu-| Education Officials Call Legislation Most Important Chapter in Schools’ Greatest Year. supervising principal; Miss Janet Me- William, supervising principal, and G. David Houston, principal of Arm- strong Technlical High School. Two Changes in Board. were made on the ation during the year. as named by the Dis- Court judges to su ceed Greenwood, while Mrs. Mar eill hecame the succes- sor of Mrs. Cor: . Cook, who had | declined a reapppointment after serf- | ing longer on tha board’than but one. other single membe A H school athletic | 1 during the year over the abolf- tion by the Boar. of Education of the two-sport rule, which had confined I high school pupils from participatinly in but two sports each school term. board also voted a new high . which is expected 1o more military annual com- Two changes Board of F | Henry | trict appear petitive drill next June Two movements of note were - | ttiated during the year, both of which | are still under consideration by school | officials and members of the Board af | Education. One is the study of the normal schools with a view of adopt: |ing 1 for the purpose of making |the enrollment requirements morg stringent, while the other is the cam n to beautify the unds of all sl buildings in ashington sineer Commissioner Bell is ¢ | operating with the school officials in | the latter movement and a_committes | has been appointed to impress upon | Congress the need for a landscape arehitect who will vote all of hlvs time to the improvement of school ap- proaches and playgrounds. Classification Work. nee les \ ing the y in the work of the res search department in reck i of pupils. Miss Jessle La & Howard H. Long monstrated | that the policy of uping puplls ac- cording to their intellect is entirely practicable and are ving this work forward to a rema e degree. Perhaps in no pre there been the perfect tween the school officials Board of Education as during 1926, Clashes which have marked meetings | of the Board of Education in former years have heen conspicuous by thehr absence during 1926. ‘ Progress also has been made by school officials during the vear ig ! classroom supervision as well as in the revision of the curriculum. While the work being done along this ling is not thoroughly understood by the public, it nevertheless is going a long way toward increasing the efficlency of the school system. School (€ Critics of the school | been, in a large measure |ing the year due to the tude toward the public been taken by the Board of Education. As an evide sponsive to the desires of the parents lin the school system the board com ducted a referendum on the questioy of whether school hours should bd lengthened or home work abolished or both. As was expected by school officials the referendum. in which The Star co-operated with the board, showed that a v; local parents are content present school hour schedule. . Two untoward events marked the school ar. One was the strike at the Armstrong High School which foi- lowed the demotion of Capt. Arthur’ . Newman, principal, while the sec Vi the decision by Controller. to salaries of certain junior high hool teachers’ ch, if ied out, would work a dship on a number of teachers in oup. Final disposition of the. matter has not yet been mades with the ! that !latte | | | | Capital Flotation of Bon in Excess By the ciated Press. NEW YORK, December 31.—Ameri- can dollars continued to pour into for- eign and domestic investments at 2 record-breaking rate in 19 ‘apital flotations in _the form of bond stock issues for government palities and corporate enterpr ing the year approximated $7,000,000,- 000, and final compilations may show that even this unprecedented total has been eclipsed. For the third vear in succession, forelgn borrowings in the United States exceeded a billion dollars, al- though the total was slightly below last vear’s high record. More than half of this money went into produc- tive enterprises, whose demands for the first time were greater than those of foreign governments. Tllustrative of the broadening char- acter of the investment market was a remarkable rise in the price of bonds to the highest level in more than a decade despite the enormous volume of new financing. Foreign obligations soared to heights which surpassed the most _optimistic expectations of the underwriting bankers: some of the United States Treasury issues com- manded premiums as high as 10 per cent for the first time in many years and countless corporation bond: at the best prices in their histo Turnover Is $3,000,000,000. The appreciation in the market | value of bonds was the more signifi- cant because it took place in the face of a smaller volume of dealings. The turnover for the vear was approxi- mately '$3,000,000,000, compared with xsz,s]‘l‘n.;mo,ooo in 1925 and $4,000,000,000 n 1924, Two German developments financed in the United States were of world- wide interest. The formation of a great steel combine known as the United Steel Works Corporation re- quired about $60,060,000, half of which was raised for the Rheineelbe Union and other companies preliminary to) the merger and the remainder upon completion of the consolidation. Stinnes Industries Aided. The great Stinnes industries, which encountered difficulties after the death of Hugo Stinnes, also turned to this country for financial aid. Two Ameri- can companies were formed to acquire the properties and $25,000,000 was raised by the sale of bonds. A curtailment in German borrowing is expected to result next year from | the decision of the government to re- housek@eper, and Talbert Dowling to succeed the late Major Arthur Brooks &s vale§ to the Presidents impose a 10 per cent tax on external bond issues, from which borrowing YEAR CONTINUES RECORD PACE IN U. S. FOREIGN INVESTMENTS, d and Stock Issues Total $7,000,000,000—Foreign Borrowings of Billion. lowed the report agent, in which he pointed ¢ while Germany had tra creditor countries about under the Dawes plan. it had bor- rowed from them about $875.000,000 |in the same pe Borrowings in the United States alone were approxi- mately the same as the repirations payments. The largest individual offering of the vear was a $120,000,000 issue of 5 per cent debentures for the Standard 0Oil Company of New Jersey, the pro- ceeds of which were to be applied toy the retirement of the company’s $200,s 000,000 7 per cent preferred stock. The entire issue was absorbed by pre ferredstock holders, who were givem preferential rights to subscribe. Im the same week a $59,000,000 bond issue. was sold for the Standard Oil Coms-, pany of New York. South Americans Borrow. Several other corporations took ad- vantage of favorable bond market con-,’ ditions to reduce their charges, the Chile Copper Company replacing $3 000,000 of 6 per cent bonds with aif issue of 5 per cent debentures South American countries and prov- {inces were well represented amoni the foreign borrowers. Large loans were arranged for the governments of , Uruguay, Brazil and Argentina, well as for the province of Buenos A $20,000,000 loan for the city of Yokohama marked the third step in the Japanese reconstruction pro: gram. NEW WEALTH GREAT. Bond Financing of 1926 Exceeds, All Records. Creation of new wealth avaflable for investment was of unprecedented proportions in the United States dur- ing 1926. This testimonial to the prosperity of the Nation in the year just cldsed is brought to attention strinkingly in statistics on new bond financing, The total exceeds all records, even surs passing the previous high mark of 1925, the most prosperous year in the history of the Nation. Figures compiled by Stern & Co., Chicago investment bankers, indicate that new bond and note issues offered for investment dur- ing the entirs year aggregat. ap: proximately $6,200,000,000. This com* of the reparations t that £670.000,000 Lawrence companies have been exempted for the past several years, This action fob is an increase of 4 per cents pares with $5,366,319,800 In 192§ and’ circles were | Important strides were made dure, of its desire to be re- « majority of the ferred 1o+