Evening Star Newspaper, September 3, 1931, Page 31

PLEA FOR BRAKH BANKING IS A Former Government Official Believes Institutions Should Have Less Restrictions. By the Associated Press. NEW YORK, September 3.—Charles Wallace Collins, former deputy control- ler cf the currency, warns that the Fed- eral Government may los2 all control of banking unless national banks are per- mitted to go into extensive branch banking, or all banks brought legally into the fcld of the Federal Reserve Bystem. In a book, “Rural Banking Reforms,"” | Mr. Collins reports the drop in influ- ence of the national banking system and the corresponding increase in promi- nence cf the State banks. He sees in the Federal Reserve SYS- | cago Herald and Examiner said yester- tem the incipient influences that have accelerated & “movement which appears destined to remove commercial banking from Federal control and supervision.” Mr. Collins mentions specifically the legislation of 1917 which permited State banks to enter the Reserve system under liberal terms. National banks may be strengthened by legislation permitting branch bank- ing, Mr. Collins says, so that a strong THE EVENING Physician Upholds Pie as Institution; Fights School Ban By the Associated Press. DETROIT, September 3.— Da.niy disaes will come and go, but pie is here to stay. So ruled the Board of Educa- tion after a lively debate here. Mrs. Laura Osborn proposed elimination of that desert from school luncheons, claiming it is “ruinous” to digestion. But Dr. Burt R. Shurly promptly prot:sted. “The ple is a grand old Amer- ican instituti " he said. “Chil- dren have been raised on pie for 100 years, and the American child is a pretty healthy imen."” $100,000 THEFT PROBED ! Home of L. F. Stern, Chicago Bank- er, Report=d Robbed of Jewelry. CHICAGO, September 3 (#).—The Chi- day that a secret investigation was be- ing made of a $100,000 jewel robbery at the home in suburban Glencoe of Law- rence F. Stern, wealthy investment banking company president. The loss was reported by Wilma Jarjes, a maid em- ployed in the Stern home. She was held last night at the Glencoe police sltlllon, pending a further investiga- tion OPEN Until 9 P.M. Today & Friday -Saturday 9:30 STAR, WASHINGTON, T° ‘. THURSDAY, SEPTEMBER 3, “Red Label” Silk Pongee 22c vd 12 momme, 33-inch, first qual- ity, government inspected. Splendid for draperies, bed- spreads, pajamas, etc. Tan shade.—Main Floor. All- Genuine “Palm- olive” Soap, 20 Cakes $1 Thursday and Friday we will sell this nationally advertised 10c soap for this low price. Limit, 20 cakes to a cu tomer. No mail or phone orders—Main_Floor. customer. orders.—Basement. Procter & Gamble’s # Laundry Soap # L 2o 3g, : Isn't this an opportunity to save—limit, 12 cakes to = No mail or phone 1931. * # 30 Rolls “Waldorf” § Toilet Tissue for 1 # Thursday and Friday # Special. Limit, 30 rolls. No mail or phone or- ders.—Basement. 2 6 Boxes of Cellu- : i ettes and One Box # of Kleenex for f 51 Cellu-ettes is the final word t in sanitary napkins; 12 in # each box. No mail or phone # orders—Main Floor. OPEN UNTIL 9 PM. —TODAY AND FRIDAY— TWO SENSATIONAL eity national bank could possess branches in rural districts. Inherent and eco- nomic weaknesses in small rural banks | make them liable to depressing influ- | ernces in much greater propertion than city banks. he states. Cause of Difficulties ' ‘When city banks get into difficulties, 4t is usually through bad management. says Mr. Collins, while rural banks get | into trouble not only for that reason, but because they cannot so easily r(‘slst] economic trends. primarily through lack | i of cdiversification in investment, which quickly freezes when a small locality is struck by a slump. 1 Mr. Collins believes branch banking by national banks would strengthen | rural banking conditions, providing | > o | # better management end the required | - i e Sears Chardonize DPORTUNITY AT SEARS’ ; —= N = (> ‘While Quantities Last DAYS Many Items Are Not Advertised Sears Famous Three L Floor-O-Leum 4 Square $1 Yards for $# Wh® an opportunity to cover Rsssnssasssssessey Whether you’re just going to the next townor travelling hundreds of miles, you can’t go for less money nor with more real solid comfort than in a big red Short Line Coach. Five hundred fine new coaches take you everywhere on air- cushioned seats and balloon tires with your own private view over a network of six thousand miles wool, of inter-city routes. g ot ‘“Your-own-car’’ convenience 2 | 5 the and comfort at a quarter to half P the cost of going any other way. The Short Line makes any trip a real excursion. Viewing the waning influence of the E Federal Government in banking, Mr. Collins suggests that “the flow of . commerce, foreign and interstate, will # upon the State-chartered institutions. 3 O e 6 ook oF the v . - o e taee o e B 1 One Lot Greatly ume of commercial banking is now in| 3g : Hosiecy “or ehiucl iand tecllsge' &' 1 that floor with new floor eov- the hands of State banks. Under these _ rls' everyday wear. De- Reduced to ering that will be a thing of nationa! standard of commercial bank- X beauty, waterproof and stain ing. lacking support. will drop out and full fashioned. Every pair in its stead will arise 43 local standards effect, Meavtifil Eall chades; EoR e S s s merariicarss! of commercial banking. each subject | Sizes 8% to 1 Floor. ;ecom:l! F'IO lower a price— ! econd Floor. “It would be natural under such ecir- cumstances that there wou'd arise great variety of local barking restric- ## Assortment of styles is broken, #f but these are amazing values. Exquisite creations in silks, diversification. . . Hosiery, 4 Pairs be dependent for financial facilities conditions, it is conceivable that the 2 B - / lustered and made to simulate # 3 < t % 2 8 resisting. Perfect quality, to the exclusive cgatrol of the local tions and regulations upon the finan- Women’s and Misses’ # Sweaters 89c Isn't this an opportunity Beautiful slip-over in rayon and wool, cing of interstate and foreign commer- elal transactions, such as would com- pare with the heterogeneous currency systems in vogue under State authority in the period following the demise of the second bank of the United States. and preceding the national bank act. Permissive Branch Banking. “The influence, of the Federal Re- serve system as now constituted would not be effective as a means of estab- lishing a uniform system of commercial banking by State member banks, nor would State banks remain as members of the system if it were to their operat- ing advantage to carry on business un- der the State law alone.’ In advising permissive branh banking legislation, Mr. Collins says the *“condi- tion of b(&nl}{xmg in L{lc \;lst, u%flzultural L] areas of the country as ecome a national digrace.” If national hanks| LOWEST RATES were permitted branch banking rights, EVERYWHERE 1t would mean an evolutionary disap- pearance of unit rural banks. = CONNALLY HEADS I. N. S. King Feature Syndicate Editor Is| Buccessor to F. E. Mason. Shades 59C Each You'll be amazed at this op- portunity. These shades are exclusive with Sears. They retain their soft, rich sand tone after repeated washings. Size $# 36x72 inches.—Second Floor. All through the Fall you can use these for market wear as well as ## prints and rayons, also the finest home—stunning, dye-fast prints, # cotton novelties. Regularly low voiles, dimities, percales, linens, : priced at $3.95 and $4.95. Be prompt for these. school girl.—Second Water § Witch Electric Washer Demonstrators Just 5 Kenmore Electric Washers Regularly Low Priced at $67.50 Clearance at $4950 Just 2 Water Witch Electric Washers B Coldspot Electric Refrigerator Demonstrators Priced for Immediate Clearance Just 3—4%; cubic feet Just 3—5Y cubic feet Just 4—7Y; cubic feet Every one fully guaranteed to be me- chanically perfect. Monthly Payments Easily Arranged Basement 5-pc. Curtain Sets 2 Pairs for id | Dainty, smart ruffed voile curtains with beautiful scal- § loped valances of printed voile. £ Shell stitched. Blue, rose, gold, green, orchid. — Second It Costs So Little and Stands Up So Long! Highest Quality at the LOWEST PRICES 15 YEARS Master Mixed House Paint $970 Gallon 26 Colors White, $2.90 Gallon Charming Panty Dresses for Only 50c Never before have we seen such beauty in washable cotton dresses for so little money. Get a supply promptly. Sizes 2 to 6 years.—Second Floor. Regularly Low Priced at $89.50 Clearance $ 6 9 5 0 All sold with our regular guarantee. é Tickets and full information at NEW YORK, September 3 (#).—| THESHORT LINE BUS TERMINAL Joseph V. Connolly, editor and general | s3¢e £ st. n.W. 14th & Penn. Ave.) manager of King Features Syndicate, | Nationai 1721 was Tuesday appointed general man- ! Ei :‘ ager of Internationl News Service and » Monthly Payments Easily Arranged “From your doorway te the world” —Only $5 Down Basement LIS IIAALLIRLC TIINAUMIBBMBANT I30s0semIITIILLS Just 10 S ) " 2 ust ets Infants’ Gowns and : | |11 Exquisite Haviland Wrappers g - i 2 . - Chinese Handmade Filet 5 g ev— 2";"““““ 39 Arm Rests 5¢ # Just 11 “Betsy Ross” apartment £ C Oblongs, ovals, chair # size Electric Washers, with spin- $ 50 Made of the famous Amoskesg ba(;ks 10;: # ner dryer. Regularly low priced 32 Set panola cloth, soft, fleecy and . 2 # at $47.50. Used as demonstrat- 3 4 cozy for eool nights. Gertrudes 36-inch scarfs, 19¢ s hebesntial ST oreatin® to match, 25c.—Second Floor. ors, but fully guaranteed. pattern. Monthly payments ) easily arranged. — Basement. 45-inch scarfs, 29¢ S54.inch scarfs, 39¢ 72-inch scarfs, 49¢ g $3250 11 72x90 Cloths, $1.49 : We have never seen such values be- £ Monthly Payments Easily Arranged 31.65 Roller fore, in Chinese Filet.—Main Floor. Skates ‘ $119 Famous Chicago pattern, ball- bearing skates. Now is the time to give that boy or girl a present that means pleasure and healthful exercise after close of school confinement.— Basement. Universal service. Last night Prank E. Mason announced he had resigned as president and gen- eral manager of Internationl News Service. | rRANteeD OUR PRICES ore REDUCED! but W.LDOUGLAS QUALITY remains always the same Children’s Flannelette Pajamas 55c¢ Made with or without f st. Just right for these cool nights g —Sizes, 2, 4, 6 years.—Second YOU will appreciate our sub- stantially reduced prices, made possible by savings in manufac- turing cost. ““Lower prices” with some manufacturers may mean correspondingly lower quality. ne Rug Record Low Prices # Remember, every Sears Rug is perfect. We never buy seconds or ir- # regulars to lower a price. Monthly Payments Easily” Arranged $43.50 9x12 Seamless Axminster Rugs These are made by a nationally known rug manufacturer whose name we are not permitted to use at any time because of Sears $ I 995 B.iting cinders, smoke, vibration, ever-changing weatkers and tempera- tures—the paint on a railroad car must be mar- velously good to stand up under such conditions! An_:erim‘s railroads buy paint from Sears because they find it does stand up. The.ylmow Sears’prices are incomparably low. SerocoMaster Mixed is of the same high quality as well-known house paints that retail for much higher prices. We save you substantial amounts by making Seroco in our own factories and distributing direct. Porch Floor Paint, Quart, 60c Sero-Var Varnish, Quart, 60c Auto Enamel (Black), Qt., 70c Auto Top Dressing, Qt., 50c Sold at “3” Sears Stores— Retail Dept. Store, 911 Bladensburg Rd. N.E.,: 3140 M and 1825 14th N.W. Sears Roebuck “and CO. Retail Dept. Store, 911 Bladensburg Rd. N.E. Our policy of maintaining W. L. e Douglas quality and value stands today as it did over fifty years ago. underselling prices. High-grade perfect quality, rich deep all- ~ : wool pile rugs. of great beauty. Just 30 rugs at this price.—Sec- MGem"."e Hartz. ond Floor. ountain Canaries $6.95 9x12 Felt-Base Floor-O-Leum Rugs The lowest price we have ever seen on rugs, guaranteed perfect and $395 Boys’ Dress Shirts 50c 98c elsewhere for this quality ## broadcloth and these new pat- terns. Sizes 11 to 14%;. Supply H ## his school needs at Sears and This consists of the SAME high-grade materials, the SAME skilled shoemaking and style leadership. with the most beauti- ful plumage we have in such beautiful blue tile patterns. Stainless and waterproof.—Sec- ond Floor. ever seen. Guaran- teed to sing.—Base- Amazing Opportunities to Buy Odd Pieces of i ment. Part Wool NUMEROUS ODD PIECES—Dressers, Vanities, Chests, Buffets, China Cabinets, # $3.00 Bird Cage Blankets Sewing Cabinets and Occasional Tables, Odd Dining Room and Breakfast Chairs, Pier BStandif Cabinets, Porch Chairs, etc. Ask the salesmen to show you these sensational buying an and Ior The savings made possible to you, with the same W. L. Douglas quality-mainten- ance, offer greater values & than ever before. 95 Healthy male birdsg »l boys... Biack or tan caif Sies $3.00 Siz s t35 Our Wonderful BOYS’ SCHOOL SHOES. .. all Solid Leather NOW REDUCED TO #3.00 and *3.50 Just like our men’s shoes “AMERICA'S BEST KNOWN SHOES" 79C # opportunities. Monthly payments easily arranged. SEARS, RoEBUCK ano CO. - WE GUARANTEE SATISFACTION OR YOUR MONEY BACK real "money-saving opportunity. Lovely colored borders—Sec- ond Floor. canary. Choose from a variety of colors.—Basement. W’é Regular. Store Hours 9:15 to 6. Saturdays, 9:30 to 9:30. Plenty of Free Parking No Danger for Children W. venings 905 Pennsylvania Avenue Tel. METR. 0823 Open Saturday