Evening Star Newspaper, April 12, 1929, Page 28

“SheGot What . 5 THE EVENING STAR, WASHINGTON, D. C, FRIDAY, APRIL 12, 1929 CAPPER MOVE SEEN ON MONEY S5 Extra Session May Get “Speculation-Drunk Stock Market” Proposal. fo. Co /61' Jt / : WA)/ at Lucy Lou By the Assoclated Press. Severely condemning the flow of money into the “speculation-drunk stock market,” .Senator Capper, Re- publican, Kansas, declared in a state- hemia Tave- 8 tmmediate atiention of ave a o[ Course A the extra sesslon of Congress, Senator Capper complained that money needed for development of West- ern business and the West's agricultural Where the newest I operations is going into the call-money vogue ,'n il market in New York, where rates of 8 LINDERWEAR T e e o made no legislative proposal. is fascimating everyore He declared it “almost criminal” for Western® bankers “to throw their mil- Smartly tailored lace trimmed lions into New York's call-money mar- GOWNS ket, that the stock gamblers may bet the entire country’s available resources on their gigantic poker game, as they have been doing the last few weeks.” The Kansan warned that “the credit situation in the West has reached the t, in my opinion, where bankers will consulting their own interests by keeping their money, at home.” . The Capper declaration, supporting the Ped- eral Reserve Board's efforts. to curb speculation, was one of the strongest coming from the Capitol since the board’s recent statements. ‘The Federal Reserve Board announced yesterday that loans to brokers and dealers held by New York Federal Re- serve member banks for the week end- ing April 10 totaled $5,428,000,000, & de- I crease of $135,000,000 from the pre- i vious week. Leaders Remain Silent. m | Meanwhile administration leaders at n DS n the Capltol and those in the executive / 1217 F N.W. offices kept their silence on the course which will be pursued in regard to the investigations of the credit situation to | be proposed at the extra session. Senator Capper declared that he had received complaints from Western farm organizations that Western banks are sending money to the call loan market which is needed at home. He estimated that about $15,000,000,000 in credit funds is tied up, or soon will be, in Saturday Morning Spring Coats Only 50 in this lot— sports and fur trimmed. Sises 14 to 50. Regular Values to $10.00 -drunk stock | risked their mn?_«m’-wmm oy oo “It has not reached s point” he use, including farm use, can- | to its in crop futures. way it is & growing menace to business. Interior banks never had more money out on call in Wall Street than during the present speculative movement. They defend this use of their funds on the ground that there is no safer invest- ment for tsmporary funds than call loans, but their reason for feeding the stock market at this time is that they can make vastly more profits than by | keeping their money at home.” facilities,” and continued: Thi Federal Reserve Board has been trying | versity, 3 to check before it harm§ the entirc theut’wng;uv'v;lmh ‘wholesale economic conditions and to | Mr. Walevitc] the 1 of the country. has attracted so many who former] ONE-CENT SALE of Finest Flowers At “Cash & Carry” ‘The biggest event of the kind we ever held. One Dozen Roses $1.50 fsanise TH Or if you prefer the variety —we'll box one dozen roses Pt Ropmvill C&C Flower Stores 807 14th St. N.W. 804 17th St. N.W. Franklin 5442 Franklin 10391 Saturday Morning Raincoats $1.97 Sizes 14 to 44 Regular Values to $3.95 Another of Those Spectacular Sales You Must Not Miss— Sale of 300 New Silk Dresses Those Who Know Us Know ‘We claim less and give more. 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Plenty of LARGE Head Sizes GIRLS’ COATS Ensembles and Dresses street colors and 45 high shades. theex:’umblu in v.']w and 7-14. 2 ‘::’ss“ O oND FLSOR i HOSE Rayon Underwear absolutely | Teddies, Step-Ins % perf Sizes 14 to 50 Coats of tweed, sheen, basket weave —tailored and belt- ed models. Dresses in flat crepe, newest. prints. All new Bloomers 2 for Finest Rayon, in all pastel sh ades, - ‘A’ reg- ular 6sc value, BASEMENT grun t has recently voted in declared, “where money for legitimate | favor of adding speculation in stocks business trading bling fever is| “Any one can see what a drain this mum‘:fifinh In every | speculative craze must be on the cred! d are spontaneous creations of the ::M‘- mind, The melody is simple, wtmeteelm.huubhnfium great depths. These songs Tendition being governed by mood m circumstances, m'eol it is best left to the artist, unhampered by conventional style, to interpret with freedom this music that tells of the soul of a great peopie. Mr. Waleviteh in his concert last eve- ning put into his music the feeling, the impressiveness of a master. Each of his songs was an expression of a mood, & situation, or rrmw a wish. With wistfulness and a tender voice he sings standing interest, with an explanatory Hry prceing te et o FLYER DIES IN CRASH. story the song held the audi- ence in an atfentive mood. Mr, Wale- | SRESIVILLE, 8. C., April 12 (P — | vitch was always able to carry his audi- b of Greenville was ence with him as he sang through his | %G o 1S brother, Charles Simon, flery eloquence. Me irequently request- an I:DIAM ’a::i“"d late yesterday in ed the audience to repeat with him Charles Simon was piloting the plane, some simple melody, the meaning of (a new machine porr B gam A, hg' Wwhich he had just sold. ceived enthusiastic response to such |dred feet altitude, as it was gliding to- requests. ward the munieipal airpo: re- | It went into o tail spin at a few hun of the lover, but with harshness and brazenness does he sing of the conviet. rendition of the Hits “Unrestricted Speculation.” A RUSSIAN FOLK SONG RECITAL. “Volga Boatman's Song” was of out- Senator Capper asserted it was well | Savell Walevitch, the well known known “that unrestricted speculation |Russian singer, presented a concert of |= always outruns the strongest credit | p..gian folk songs and Gypsy ballads at Howard University last evening. is 1Is true of the mania NOW | The recital was the seventh of a series dominating Wall Street, which the | presented under the auspices of the uni- and colleges ”‘*?"Jé.u no time in my generation, a‘}.:" e‘rht.’:w cr';’.;;,"“.,’: ):n “,!,3' . o coun n Wl ve - not even in the days of the bucket|duced these old Russian ballads to shops, when so many people were | America. He is ably assisted by his ‘playing’ the market. Millions of shares | wife, Mme. Walevitch, who explains change hands dally in Wall Street, | what each group of songs is to contain. more and more to the detriment of [ The MM‘“{' hml!u Interpreted by ‘The ancient folk songs of Russia are b bull pen of the stock exc! of {nn significance, in that they pre sent the life and customs of the people, QOver 2,500 Dealers in Washington I and Vicinity and the brush, will only cost $5.00. Phone Franklin 151-152 The most delightful food the ocean provides . . . firm, tender and satisfying. Ideal for salads, sandwiches and cocktails. .. splendid as the main course. Rich in iodine and phosphorous, therefore a goiter preventative. The superior quality of White Star Tuna has made it America’s preferred brand for more than 16 years. It is packed in the spotless kitchens of the world’s largest canner of tuna. 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