Evening Star Newspaper, April 6, 1929, Page 19

REAL OIL EDICT CAUSES [& _,RH]ISBUUNT RATES . | CAUSTIC COMMENT [t St i iy - MAY BE RETAINED ek et i D ——— An ‘official of the Pederal Reserve| Ruling of Attorney General - Bank in New York said loaay hat v g ALLBRICK CORNER BARGAIN 8 ROOMS, BATH AND EXTRA LAVATORY Federal Reserve - Believed | ibs croat suation sowd b 433 OGLETHORPE STREET N.W. $11,750 Likely toRestrain Specula- Owner might take small house in trade tion in Other Ways. num.umm:n':otmmmuné nezh:h‘l:rn TOOMS, :Iafil thfl':I" lavatory section and you bre tavited to come out Sunday afternoon and Inbpect it Drivé out Conn. Ave. to Circle, East on Western Ave. to *OPEN SUNDAY FROM 1 0’CLOCK UNTIL DARK 'Q-::..J. St. and house. DETACHED—STONE HOME oRooMs $]4 5()()-00 NEAR 16TH ST. THE RESERVOIR| ROCK CREEK by which Lot 50x13214, 35 Fi. Concrete F = 2V2 one ront Porch warmih 1o tfl"“‘vh‘ Yy ummer. Tooms, one bath and bis _sieepi . I3 15" ereas, Convenience ve BCHOOL! o t and future value' : ideal health Bpecial Dispatch to The Star. NEW YORK, April 6—The 'lenbenoe speculation in stocks has wn 3 in the Federal Reserve Board’s state-| from the investment market at least ' on the m ment on credit conditions that has at-| 75 per cent of its normal tracted most attention reads: Foreign issues have been aff by m;l‘:m br::l’:h:h: m r%dd‘:mm'w‘f domestic bonds and so g:t the board’s operation, however, the Federal Reserve g g pec immense Sunday and Until Sold - A See Owner on Premises ANY TR PAULl MAGOF FIN 317 Woodward Bldg. . Phone Main 3023 system may adopt other methods of in- fluencing the situation.” ‘This leaves the policy of the Federal Reserve Board up in the air and im- plies a threat that Wall Street has dif- ficulty in interpreting. The question was asked, what other method than that of raising the rediscount rate would bring about the desired deflation in loans? Other Means Likely. Obviously, the board has definitely come to the conclusion that it will not disturb its present 5 per centrate. On Wednesday the directors of the Boston Federal Reserve Bank, who have been strongly in favor of increasing the rate to 6 per cent, took no action; the New York directors Thursday continued thelr neutral position, and -yesterday the directors of the Federal Reserve Bank in Chicago adjourned without giving any sign that they intend to push their rate above the present level. ‘Therefore, it is apparent that some other means of imposing restrictions on borrowers and - influencing “the money market is being considered. One of these would most naturally be through the medium of maturing acceptances now held in the portfolios of the Fed- eral Reserve banks. It is understood that approximately $175,000,000 of such acceptances are running off before the end of April. A definite policy on the part of the Federal Reserve ba nks | 167,692 on March 1, 1928, the American necessary 'ny for American products.” One fears that the foreign trade of the United States| will be affected mal unless the door is reopened to foreign borrowers and financing is resumed on the scale approximating that in 1926 and 1927. Foreign Financing. world, answers that “such a untenable, unpleasant and nceiv- able”” He is frank. / . “How the Federal Oil Conservation Board could have been set up as it was,” ys, “and could have functioned for rears without any authority to act Credit conditions have not been alto- | 11, gether responsible for the driving up of foreign issues. It is of interest to g0 back over, the record of new issues of foreign bon year of esident , Wi cast somewhat of a blight on dollar obliga. tions of foreign countries and corpora. tions. In the six months that have elapsed since this address was made, the total of foreign securities sold in this market has been $210,000,000, com- pared with $770,000,000 in the sams period of the year previous and $470,- 000,000 in corresponding months two years ago. At the present moment there is almost no foreign finane being considered for early flotation. Lead Sales Increase. NEW YORK, April 6 (#).—Total stocks of lead in the United States and Mexico on March 1 increased to 160,597 tons, compared with 156,182 on Febru- ary 1, but decreased compared with ds and stocks offered speech last | SrO! pting Attorney General should kick the props from under the whole structure, either h careless construction of his W Teagle, erful Standard of New Jersey; an- €| other leader in oil limitation for 1929, declined to answer. nate, American ‘matter, says nothing. Senator Borah sees a world monopol in ofl led by the * ‘The Ro! Dutch, controlled by the intelligent Sir the Drive out 5th St. to Oglethorpe (2 squares north of MM) HOOKER & JACOB Exclusive Agents Members Washington Real Estate Board National Press Bldg. Metropolitan 2663 ARE YOU RENTING AN APARTMENT? If you are, then read this ad and see what we have. It will save you money. U. S. CAPITOL 113 FIRST ST. N.E. Corner 12 Rooms and. 2 Baths Hot-water Heat and Electricily Price and Terms on Request Inspection by Appointment L. T. Gravatte 927 15th St. Main 753 Evening Phone Georgia 2000 Ezclusive Agent against replacing these acceptances Bureau of Metal Statistics reports. e VILLA SITE Containing Five Acres Montgomery County, Maryland Owner leaving W ashington will sacrifice one of the Capital’s most beautiful homes Price $38,500!! This distinctive residence offers one of the most remarkable values in the city IN Washington’s most exclusive suburb on a high elevation with a wonderful view of the surrounding estates with homes copting as high as $100,000. Fronting 800 feet on improved road and is midway be- tween two State roads. One block from car line and twenty mirutes by automo- bile to White House. Priced at a sales- compelling figure. MARIETTA PARK Six spacious rooms—built-in tub and shower, Select oak floors throughout—brick pantry with ice box. Concrete front porch and rear porches 10 feet wide. Instantaneous hot-water heater— Single garage. Paved street and two blocks from the 14th Street car line. Unusually small cash payment and $60 per mo. DIRECTIONS: Drive out Georgia Ave. to Longfellow Street and turn east on Longfellow Street to 2nd Street. Exhibit 1221 Home HQLBROOK Just North 14th & Fla. Ave. N.E. PHONE OWNER KENSINGTON 70 S = Vi7e The house is side-entrance center-hall plan. Ten spacious rooms with solarium. Italian marble fireplace. Canvas pan- elled walls. 3 baths, 2 extra lavatories, butler's pantry, oil burner, electric refrigeration, tile roof, 2-car garage. Lot 75 ft. by 125 ft. Gardens, trees and rare and expensive shrubbery. Open Daily & Sunday,11 A.M.t06 P.M. . ha n Exhibit 201 Home . %;m‘v::w-";" BRICK GARAGE. SPRING STREET Open Daily and Sundey Two Blocks From Connecticut Ave. L. T. Gravatte CHEVY CHASE Realtor 927 ISth St. NW. Main 753 NEW detached three and four bedroom homes, with one and onehalf and two full tiled baths, with all latest builtin fixtures, large open porches, in an unex- ecelled location—offered for first public inspection tomor- row—at a very low figure on attractive terms. Landscaped Sites of Long Frontage $13,500—*17,250 OPEN ALL DAY SUNDAY Drive right from Conn. Ave. on Shepherd St. to Ful- ton St., then right a few feet to homes. J. €. Bouglass Co. Realtors 1621 K St. N.W. Investment Building BELLE-HAVEN HE route of the Mount Vernon Memorial Boulevard passes through a section of Belle . Haven, the beautiful, highly restricted resi- dential development only 20 minutes from 14th and F Streets. Picture the beauty of this magnifi- cent, broad memorial highway bordering the river, over which the fortunate Belle Haven resident will soon be motoring between his office and home. Belle Haven has everything: Hard-surfaced streets; cement sidewalks, curbs, and gutters; sewers, city water, magnificent river views, high e}evntlon, nearby recreation facilities; and attrac- tive, well-kept homes of discriminating people. Metrop. 5678 Be sure to see Belle Haven, before you build or buy! Listen in over WMAL on Friday Nights 7:30 to 7:45 p. m. Snyder-Kane-Boothe Corp. General Agents—Realtors I R R T N R N R AR BLOSSOM TIME Has arrived at the beautiful Development of ; i & : 106-108 N. Washin, St. North WOOdSlde’ Md’ ; 702 Eye St. N.W. Main 10109 P Where this unusual offering avails itself Washington Sales Representatives Alexandria 322 Alexandria Va. ; to the discriminating Home Seeker - . . : i/ 1 residence of outstand_irig distinction in the exclusive upper 16th St. section U | —offered SLmJay for the first -i‘ nusual : time . . . and, at the figure we / Value 171 7 are authorized to quote, one of Varnum the soundest values now avail- St. BRODIE & COLBERT Your i S e e A Opportunity Six and Seven A Cement Porches able in a home of this character ... Detached brick, eight rooms, two baths, Colonial fireplace in living room, electric’ refrigeras tion, tile roof—the entire house in‘immaculate condition; practi= cally a new home. Deep lot “ with 2-car brick garage. | Builsin Gerage Several types Paved Alley . and finishes Oi)en Sufiday until 9 P.M. : 1212 Ridge Rd.- ; el this’ cozy b P - E;e‘:n lo?a than m”s;mt.p%%ud; Exhibit Home : 4118 13th Place N.E. 2 sold for. Ry 3 dar o 8.2 0 i i = Ill an Exelusive Neighborhgod of Detached, ?flm—Detubcd .U Group Homes $8,25 4 £ Priced AsLow As Homesin Rows ! The Best in Materials, Workmanship & Finish : < An ;nséqcfiéh will convince you of their Mmt Sl . Charles M. Wallingsford © "‘W:W .,",' 0 c""‘" With Terms You Can Meet = *$ large rooms and porch, with modern bath, ’ Open for Inspection Daily and Sunday = o to Ave. to the at OWNER WJLL CONSIDER ' EXCHANGE FOR SMALLER HOUSE vomer " 1418 Eye St. N.W. ansbury &olqnive Agents e e g~