Evening Star Newspaper, January 12, 1931, Page 12

A-12 THRIFT 15 VITAL AID T0 BUSINESS Money Placed in Banks Soon Moves to Trade Channels, Economist Declares. Taking issue with those who see in thrift an obstacle to business revival by ‘withnolding the stimulation or buying !from the channels of trade, Joseph| Btagg Lawrence declares in the current | dssue of the American Bankers' Asso- s¢mation Journal that “the more super- ficial of these diagnosticians deplore thrift because of & mistaken bellef that money de ited in a bank immediately loses its function as a medium of ex- .” The truth is, he points out, that it is put in circulation just as much by the banker as by the spender, only more wisely and with more per- manent social benefit, “The banker’s success depends upon his ability to place in the hands of able and constructive spenders that part of income which the original recipients wish to set aside for the future,” Mr. Lawrence says. “By doing so, they do not sterilize its usefulness. It into circulation no less because the banker accepts it as a deposit. It remains a physical presence in the bank but tem- porarily before entering the channels of commerce. As far as the money itself is concerned the only difference between spending by the owner and saving is that the point of entry to the markets of the community has been changed. Is it not mor2 accurate to say ‘To save is to spend wisely?" Increased Savings. “To appreciate the role of thrift in encouraging revival, consider increased savings accounts, building and loan as- THE EVENING STAR, WASHINGTON, -b. C., ‘What happens to this flow of funds? “Distress consists in large measure of the inability of basic industries to dis- pose profitably of their output. De- cline in consumption is evident in Jum- ber, sand, gravel, cement, stone, all forms of steel and the non-ferrous metals. Construction is sadly off and the entire steel industry is suffering from a low pulse beat. lecline is reflected in the drop in freight traffic, and that in turn sets another vicious chain of cause and effect in motion. “It is to be noted that all the mate- rials mentioned are employed in the creation of the more or less permanent forms of wealth. How important thrift is in sustaining these vital basic indus- tries is suggested by the fact that the building and loan assoclations of the country financed the construction of 500,000 homes in 1929. During the first 11 months of the year more $5,- 000,000,000 of bond issues have been floated and approximately 48 per cent of this total has been purchased by American banks from the proceeds of American thrift. A substantial part of sociation assets and new life insurance. | the balance folios of our insurance com| Benefit to Workers. “Their sales make possible the con- struction of thousands of miles of new highways, hundreds of new schools and State and municipal structures. In the expenditure of that sum, consisting in a final analysis of a million rivulets of thrift, hundreds of thousands of work- men will ind employment and the de- mand for basic new materials will be stimulated.” LUMBER INDUSTRY. By the Assoclated Press. Movements in the lumber industry during the week ended January 3 closely followed the previous week as progress was indicated by reports from 841 leading hard and soft wood mills to the National Lumber Manufacturers’ Association. Production at these mills amounted to 132,828,000 feet. Orders were 19 per cent above production, and shipments were 35 per cent under the cut. may be found in the port- panies. MONDAY, ¢ NUARY 12, 1931. U. S. BUTTER TRADE TO FIGHT PALM OIL REVENUE RULING BY FRANK I. WELLER, Associated Press Farm Editor. The 30-year battle of the Butter In- dustry, to protect itself from the com- petition of more cheaply manufactured sub?tltum has broken into the open again. In the office of David Burnet, com- missioner of internal revenue, farm leaders have planned to fight the bureau’s ruling, which permits use of palm oil in oleomargarine. The oil imparts the natural color of butter, but under the bureau’s definition of “artifi- cial coloration,” escapes the Federal tax on colored oleomargarine. Complaint of Butter Interests, ‘The effect, it is claimed, has -been virtually to nullify all protective legis- lation’ for the butter producer. Unless the ruling is changed, representatives of the industry say this effect will necessitate enactment of a new law to replace the oleomargarine act of 1902. Since the ruling was made, they con- tend, the price of butter has been de- pressed 7 cents a pound. They say the loss has been passed on in reduced cream checks for every dairy farmer, taking toll from the Nation’s biggest farm business. r Made with palm oil, oleomargarine can be taxed under the bureau's ruling only Y4 cent a pound instead of the | 10 cents a pound tax provided for arti- ficlally colored butter substitutes. Efforts to keep the price of oleo- margarine more nearly in line with the price of butter were initiated in the law of 1886, which required a tax of 2 cents & pound. It permitted oleo- | margarine to be colored yellow. In 1902, because of the rising price of butter, dairy interests insisted that | oils or other materials which g:“:-cencuxwumzmwmwm itial tities in selling oleomargarine in the guise of g::@el‘ for much less than the bona law, colored oleomargarine to 10 cents a pound and placing a tax of one-fourth cent a pound on uncolored, unscrupulous persons who were uct. Congress amended the creasing the tax on_artificially New Refining Process. But, just when all artificially col- ored butter substitutes were paying a | 10-cent tax a new process for refining ' te palm oil was developed in England. The butter-substitute industry was vided with a natural ingredient which | did the work of the artificial color, de- feating entirely the purpose of the oleo~ margarine law, it was claimed. ro- The act says that when oleomar- garine is free from artificial colora- ion which causes it to look like but- er of any shade of yellow the tax shall be one-fourth of one cent a pound. Charged with collecting the tax, the Bureau of Internal Revenue ruled that oleomargarine is not free from arti- ficlal coloration except where such yel- low color results from naturally colored used to it serve material function t;rm mn&um lgfigm to im- par color product. That 13 what ofl does. It now is 50 refined that from 10 to 30 per cent of a pound of oleamargarine can made of the ofl and it has a natural yellow color. Shipments Increase. Shipments of oleomargarffie and but- @ bstitutes in this country in 1929 esented an increase of 5.6 per cent ntity compared with the year be- e, with a value of more than $50,~ {000.000. If this had been pure butter |on which the average price was about | 40 :(‘r’\u a pound it vl;;uld have repre- sen a_revenue of imately "2{2‘!.0!2 for the Ammxflmn and, farm leaders insist, meant elimi- nation of the butter surplus. As they see the situation, only the produc- tion of oleomargarine has beaten prices down. Storage stocks of butter are less than & year ago, consumption has 1nlcrused and the output is barely normal. Momwmw on Account of Inclement Weather Yinen size ""\.em' FREE DEAL AT PARKING NAtional 5220 Women’s $1.00 Union Suits striped part. wool un ion let knee - length style. Women's sizes, 36 to 44. Tots’ 79¢c Printed Panty Dresses novelty prints. Belted and models in several pretty col- ors. Sizes 3 to 6. Rayon 78- suits in sleeve- Main Floor. Vat-d y ed 5 e straightline ! Third Floor. $1 Pink Brocade Girdles girdles of pink 74- brocade; front- clasp style. 4-inch length, elastic sides; 8-inch length back. Sizes 24 to 35. Second Floor. $2.50 Brocaded Girdles Well made side-hook 14-inch length with knitted _elastic sections over hips. Sizes 26 to 3 Second Floor. Women’s 79¢ Costume Slips Of white and pink broad- cloths in well [ tailored styles. Sizes for women and misses. Second Floor. Women’s $1.15 Costume Slips Regular and extra size cos- tume clips _ of (J fine magnolia cloth. Pastel shades. Second Floor. Women’s $1.29 Undies and Slips step-ins and panties of The costume slips of rayon flat crepe. The chemise, 94- crepe de chine. Second Floor. Women’s and Misses’ $1.00 Pajamas “'irlv!. neat- Regular sizes. Second Floor. tai- ruffled sets, ith Neatly complete 5 u 98¢ Ruffled Curtain Sets lored curtain it wide valance and tie backs. Fourth Floor. $1.14 Guaranteed Alarm Clocks Green or 88- blue finished slarm clocks— Downstairs Store. guaranteed time keepers. SPACE $1.00 Wizard Floor Mops Oil or dry [ mop—1 o n g 69 handle. treated dust- less style floor Downstairs Store. $37 and $39 Axminster Rugs i $22-75 less Chinese and Per- grade a nd 9x12 and 8.3x perfect. sian designs. 10.6-ft. sizes. Downstairs Store. $1.39 Inlaid Linoleums — i 79¢ room messure: 54 Yd. seconds—no noticeable de- Downstairs Store. fects. Bring $4 and $5 Felt- Base Rugs 6x9-ft sz-‘s Congoleu m and other makes; per- fects and seconds. Limit, 2 to a customer. Downstairs Store. $1 Heavy Coco Door Mats, Ea. Heavy brush coco door mats, well made to stand hard wear. Fancy borders. Downstairs Store. 39c to 59c Felt- Base Covering Sq. Yd. Two-yard wide floor cov- eri n g--Congo- leum, A r m- strong and other Perfects and seconds. Downstairs Store. 29- makes. 19c Printed 36-In. Percales Large ange of 54 1 D e styles and colors; close-woven, soft finish quality. 36 in. wide. Main Floor. 15¢ 36-Inch-Wide Longcloth, Yd. e woven, soft finish- grade of longcloth 45 at o 'real thrifty price! 36 in. wide, Main Floor. 39¢ 36-In. White Broadcloth, Yd. A yarn mer- cerized quality broadcloth for [ men's and boys’ shirts, also for women's wear. Main Floor. FOR 69-| $10 “Sure-Fit” Slip Covers, Set Will fit most sny 3.piece overstufied § living room set. § separate cushions. Fourth Floor. $10 Double-faced Velour Portieres Pair Not all-color com- binations—but « § good selection to choose from. 50 in. wide to pair. Fourth Floor. 59c Perfect Window Shades Cut size, 3x6-ft. window shades, in 3 ,C green, white or ecru.’ Well made; dependa- ble rollers. Fourth Floor. Infants’ 49c¢ Dresses Yoke and collar effect: in sleeves. Some lace trimmed. Sizes 1 and 2. Third Floor. $1.75 Felt-Base 3x9-Ft. Rugs In brightly eol- sl ored carpet designs. Sold as seconds be- cause of misprints. Downstairs Store. $40 & $42 Velvet and Axminster Rugs 9x12 3000 52675 sizes. Perfect quality. long and s Downstairs Store. 2Sc Bleached Pillowcases, Ea. 45x36-inch Sl Ge large size and perfect _quali . Thrift Day special. Main Floor. 29c¢ Bleached Flannel, Yd. 16- Main Floor. Heavy double fleeced shaker flannel™36 inches ‘wide. Serviceable grade. 19¢ Bleached Muslin, Yd. woven, oo f bleached muslin—36 inches wide. Speci at 12%¢ yd. OUR CUSTO 19¢ Oilcloth Table Scarfs neat de- signs ors, printed on Sanitas oil- cloth, 15x42-inch size. Of brushed 17 teen and sport 39¢ and 79¢ Sport Berets wool, rayon, velvet, velve- woolens. Very popular. Main Floor. 49c to 69c Lace Neckwear Smart collar- 29¢ and-cuff sets and separate pieces. Round and vee neck style. shade. Ecru Main Floor. Men’s 50c Fancy Rayon-Mixed Hose, Pr. rayon hose— reinforced heel, New patterns. Perfects and irregulars. Sizes 10 to 1115, S il k-and- 21- toe and sole. Main Floor. Boys’ 79¢ to 95¢ Golf Knickers Qurduroys and suiting mixtures—good 59¢ styles. Some xloigh: irregulars. Sizes 8 to 16. Third Floor. Boys’ $1.95 to $2.50 Sweaters A 1l.wool o 8 429 ot | Sas 25 e 06 Third Floor. Boys’ $6.75 Knicker Suits Suits, 34.95 suitable for school and all-around wear. Neat mixtures. Sizes 8 to 15. Have 2 Prs. Knickers. Third Floor. Boys’ $10 Plaid Mackinaws A 11-wool 83.97 Great for Sizes 9 of plaids. sporty school. play and to 18 Third Floor. Boys’ 59¢ to 79¢ Shirts, Blouses Junior shirts 39- and blou collar tached. P e r- fects and irregulars. Sizes 4 to 15. Third Floor, ERS One and two Tweedaroy Lumberjacks B ois ¢ 4 d tw:edn-ro; 83 89 lumberjack s with warm wool plaid ng. Reversible. Sizes 6 10 18. Third Floor. Boys’ $1.50 to $1.95 Knickers With : ; tmii: 819 cuffs or golf styles. Full lined. Mixtures or corduroys. 7 to 17. Third Floor. Boys’ $2.50 to $4.95 Novelty Suits All jersey its, tweed i vt 89 479 s hable t suits with tweed pants. izes 3 to 10. Third Floor, Boys’ $1 to $1.50 Flannel Pajamas piec jama flannels. Neat colors. Sizes 6 to 18, Third Floor. Boys’ $3.95 Beacon Robes Beacon 82.39 robes of fine, neatly patterned blanketing. Well Sizes 8 to 14. Third Floor. made. 19¢ Bleached Pillowcases perfect quality pillowcases—woven soft fin- ish grade. 42x36-in. l 1 ' z [ bleached /2 « Main Floor. 121c Unbleached Cotton, Yd. vard lengths of unbleach- for various domestic needs. 38 inches wide. 2 to 8 7%e ed cotton— Main Floor. Women’s 15¢ Handkerchiefs Pure Trish linen handkerchiefs—a 1 1 8° white or with ct')l-I ored edges. Ful size. Ea. Main Floor. Women’s 9¢ Handkerchiefs Be Ea. Including white or white with col- ored han d-rolled hems. Thrift Day special. Main Floor. Winter Frocks desirable other styles. Mostly . dark . NOW! Limited $3.9s silk crepe colors. Sizes 14 to 38 in lot. $7.50 to $10 number of frocks in tunic, bolero and Second. Floor. $2.00 Wool Braided Rugs Just 100 of these Downstairs Store. Colgate’s 10c Soaps 6 Cakes for and other fa- vorites of this well known make—down to nearly half price. Main Floor. Regular 50c¢ Noxzema Cream Hers s o splendid _op- portunity to 34° save on this wonder-cream for chapped or rough skin. Main Floor. 25c Electro Silicon Polish Silicon polish- ing cloth comes Iar silver polish at this spe- cial price. An Electro 19 with this popu- Notions—Main Floor. 15¢ Sew-on Supporters, Pr. made hose sup- porters of elastic—to be sewed on to girdles, etc. Correctly 10- strong flesh Notions—Main Floor. Group of $1 Handbags ther fabric and tapestry hand- sortment of desirable shapes and styles. Du Pont lea- 5 e bags in an as- ! Main Floor. $1.00 Crystal* Necklaces Graduated n 5 P white and col- ored strands of finely cut, sparkling beads. 30 inches ong. * Simulated. Main Floor. 29c to 50c Jewelry 15 in novelty A pretty as- sortment of necklaces, brooches, chokers, etc., styles. Main Floor. Phone NAtional 5220 $1.69 Damask Cloths, Ea. Mercerized 58x54-inch size, ssc in gold and rose. hemstitched damask cloths, Main Floor. Well made, 49- at exactly half Men’s 98¢ good quality price for Thrift Day. Leather Wallets leather wallets Main Floor. Remnants! $1.29 to $1.95 Silks A purchase of desirable short lengths [ of silks and rayons in plain colors and Yd. prints. Many are full dress lengths. Main Floor. Large 39c¢ to 59¢ Turkish Towels quality towels in solid pastel shades or with colored borders. Slight ir- regulars. Main Floor. $1.50 36-In. Wide " Laces, Yd. Spdnish and 98- Bohemian laces in black, flame, orchid and ecru. 36 inches wide. Main Floor $1.49 and $1.98 Chiffon Scarfs Double 84- width chiffon Slight scarfs —- beauti- ful dark pastel sha Main Floor. onds. sec- $1.25 Bleached 81x99 Sheets Extra length sheets that allow for ample 88" tuck in and fold over. Perfect quality. Main Floor. Men’s $1.59 Part- Wool Union Suits ' suits, for Reinforced _crotch. sleeves and legs. to 46. Long Sizes 36 Main Floor. Men’s $1.50 to $2 Pajamas B roadcloths and othen ser- 99° viceable ma- terials. Neat patterns and plain colors. Full cut. Sizes A to C. Main Floor. $1.00 and $1.25 French Berets Genvine im- ported in 9, 9% 10 inch Red, navy, and_pastel , wine, green )