Evening Star Newspaper, July 26, 1929, Page 12

12 CREDI F FRANCE BOUND UP N PAC Finance Minister Insists Upon Carrying Out Agreement With Allies. BY JOHN F. SINCLAIR. Epecial Dispatch to The Star. NEW YORK, July 26.—M. Cheron, French minister of finance, has a firm grasp on the world’s finances. He real- izes that the credit of France is in danger through ratifying the debt agreement with conditions. He wants the French Senate to ratify the Mellon-Berenger agreement without qualifications of any kind. As minister of finance he also is the dispenser of public credit—the guardian, the trustee for the govegnment. “The credit of the country depends on the respect for its signature,” says this finance minister. “Even if the agreements constituted a bad bargain, the signature of France must be respected.” M. Cheron likewise sees that there will be a real strain on France should she be forced to pay the $407,000,000 due in August for the war stock pay- ments to the United States. She would also be compelled to pay a similar amount to Great Britain. What wogld be the result? The finance miMister says that it would cause a very grave situation on the Bourse, the French stock exchange. Not | to mention the English stock exchange! The answer—ratify the treaty! American business men, with a few Jawyers and journalists scattered among them—a jolly party of 92—have arrived by special train in Moscow for a month to study conditions in the Soviet republic. The Americans are Teceiving every consideration. The West European Chamber of Commerce, which enter- tained the British trade delegation some time ago, is supervising and en- tertaining the American visitors. For weeks in advance, interviews with powerful Soviet leaders in both the political and industrial flelds have been planned and arrangements to see| factories, electrical power stations.| farming activities and places of cultural interest all have been completely | worked out. Soviet Russia can probably live with- in itself more successfully than any other | nation in Europe. She is a rural| country dealing largely in raw products. But she, too, has come to realize the|= importance of international trade in| building up her activities within the | nation. That is why Official Trade Com- missar Kaufman says: “Soviet import requirements grow every year, and from this standpoint the Soviet market repre- sents special interests for a country | With a developing_industrial export.” | The report of the Americans upon| their return will be awaited with con- | siderable interest. ‘When Germany rushed pell-mell over | 4, and stayed there four sok all the money of the | Belgian banks and substituted the | German mark. When the war ended the German marks were found worthless, and as a | consequence Belgium found her own currency virtually without value. Belgium demanded scttlement from | Germany. Her original claim was for $1,626,300,000, an unthinkable sum fixed for the purpose of regulation. Germany agreed to adjust the claim. | The two nations have met and the | claim has been reduced and agreed to at $123,000,000, Quite a shrinkage! It will be paid in 37 annuities, begin- ning March 31, 1930, and averaging $3.910,586 annually. Now Belgium must discuss with Germany the return of German prop- erty in Belgium which was confiscated after the war, but is not yet liquidated. ‘When Glenn Frank, president of the University of Wisconsin, said recently that if one desired independence of thought and action he must first at- tain a natural independence, the youth- ful head of this university began an age-old discussion in educational circles. Who are the leaders today? Who commands the widest following? Whose influence moves in the widest circle? Surely not one on the border line be- tween poverty and plenty—who has not quite enough to support his family or pay his bills. He is distracted, wor- ried, harassed. No one can do his best. work when he is in such condition. It used to be considered sacrilege to talk about being on an economically sound basis—on a basis where one could observe candidly and carefully without the feeling that he had lost his soul in the materialism of the day. Not o today. People do not look at it the same way. “Few men have been able to live on bread and water and continue to be independent,” says the Wisconsin edu- cator. A wise, common sense statement! I Business Notes I By the Assoclated Press. NEW YORK, July 26.—Volume of proposed construction announced in the past week fell short of the total for the preceding week, but the decline was not sufficient to indicate a definite change in the general trend, says the McGraw- Hill Construction Dally. The value of new projects in heavy construgtion was $55,400,000, compared with $63,150,000 in the previous week and $62,600,000 a year, ago. Contemplated work for the week by classes was divided as follows: Commercial buildings, $21,850,000; apartment houses and hotels, $9,300,000; public works, $7,200,000; schools, $4,- 600,000; industrial plants, $2.500,000; railroad governments, $1,250,000; un- classified, $18,700,000. Orders for structural steel increased sharply last week, totaling 38,000 tons, against 26,000 tons in the previous week. Inquiries declined to 34,000 tons from 74,000 tons in the preceding week. Polished plate glass production in the United States in June amounted to 12,278,001 square feet, a decrease of about 600,000 square feet from May, but an increase over June, 1928. Engineering and Mining Journal re- ports that orders for copper, zinc and lead improved slightly in the last week. Copper for export was sold in large volume. Tin prices advanced 47 cents a pound. Studebaker reports that retail de- liveries of busses and bus chasses in- creased 53 per cent in June over the same month of 1928. ew Securities By the Associated Press. NEW YORK, July 26—New security offerings today include: Shenandoah Corporation, 1.000,000 shares 6 per cent convertible preference stock at $50 a share and dividends: 1,000,000 shares common stock at $17.50 a share, Offered by Goldman, Sachs & Co. City of Charlotte, N. C., 5.80 per cent bond anticipation notes, amount. $2.- 130,000, due June 15, 1930, and June 15, 1931, to yield 5.50 and 5.25. EARNTRGS REPORTED. NEW YORK, July 26 (#).—Autostrop Safety Razor Co., Inc., and subsidiaries ended the first half year with net profit of $370.655, equal to $1.07 on the class B, compared with $359.792, or $1.02 on the B in the first half of 1928. ‘Boston & Maine Rallroad's June sur- plus was $542,391, compared with $521,- 726 in the same month a year ago. Bell Telephone of Pennsylvania had net income of $6,172,673 in the first half year against $6,432,779 in the same 1928 period. b MALT SYRUP is Just what you want~ I¢’s the Schlitz Flavor that Makes the Difference Distributed by SCHLITZ DISTRIBUTING CO. 2800 10th St. N.E. (Coprright, 1929. by North American News- paper Allfance.) Po 0 Sprinkles Lawn 50% Quicker! New Majestic Rain King THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JULY 26, 1929. 'RELIABLE ptions Drugs 1.20 Pinkham's Vegetable Compound 77¢ 25¢ Listerine Tooth Paste 19¢ Regular $3 and Prescri atWhelan’s We take an especial pride in the clean, fresh, known mer- ) | FILNES " NAFE value ARROW Djer Kiss - Face Powder ANSCO A 2-A camera that takes 2% x 4% pic- tures. Uses 116 Film. CAMERA $l49 chandise carried in our Drug Department. Our prescriptions are filled by graduate pharmacists, especially selected for their skill and dependability. We use only fresh, tested and approved drugs. Bring your prescriptions to Whelan’s. 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Baby Talc 1.20 Caldwell’s 1.00 Lilac Time Vegetal soc Iodent Tooth Paste Absorbine Jr. 83¢c « You could buy § or § other sprin- klers and not get the variety of drenching streams, gentle showers, cloud-mists or spray that you can produce from this one mechanical marvel by easy adjustments. Com- bines all sprinkling actions in one Sprinkler—whirling or in any direc- tion stationary. Majestic Rain King specially designed to throw water well over plant tops—15-inch height, $5; 24-inch, $6. The one Sprinkler with bronze bearings free from pres- sure—hence no wear. Other Rain Kings $3.50 to $17.50. Dealers now demonstrating—don’t miss seeing it. 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