Evening Star Newspaper, September 20, 1931, Page 9

STAR, WASHINGTON, D. C, SEPTEMBER 20, 1931—PART ONE. ROVAL " THE SUNDAY DEBT PAYMENTS STOPPED N BRAZIL Adverse Market Conditions Blamed for Complete. Moratorium. By the Associated Press. RIO DE JANEIRO, September 19.— Amplifying the recent partial mora- torium on foreign debts, the government today made public a communique an- nouncing payments had been completely | stopped pending a creditors’ agreeme ) ‘voe action was ascribed to adverse Brazilian conditions and to the desire to avoid further depression on the e: change. Early this month the Brazilian gov- ernment announced a moratorium on sinking-fund payments on all govern- | ment_external bonds with the exception | of the coffee loan of 1922 and the ster- | ling funding loans of 1898 and 1914, | Under the moratorium sinking-fund | requirements were to be deposited in | Brazil pending relief of pressure on for- | eign exchange. Brazilian bonds out- standing in the United States are esti- mated at about $150,000,000. EXPECTED IN WALL STREET. | Brazilian Bond Default Causes Little | Surprise to Financiers. NEW YORK, September 19 () —The | declaration by Brazil of a complete moratorium on _servicing of _foreign loans caused no surprise in Wall Street, | where it had been foreshadowed by sharp declines in Brazilian bonds to| new lows. | Apparently the action had been dis- | counted during the decline in Brazilian | bonds in recent weeks. Brazilian 8s lost 5 points, but other losses were only | of a point or two. Suspended in August. The Brazilian government announced || in August that amortization on its ex- ternal loans, with the exception of three issues, would be suspended until Bra- #il's foreign exchange position was strengthened. It announced, however, that deposits of milreis would be made locally for the deferred sinking-fund | remittances. | ‘The bonds excepted were the funding | loans of 1898 and' 1914 and the so- | called coffee loan of 1922. With the| exception of the sinking fund on Brazil 6!2s of 1926, which has been paid to the trustees for application on October 1, sinking-fund payments were there- | fore suspended effective September 1. | Bankers here said today that the | rovemment'l communique indicates an intention to suspend interest remit- tances as well as the sinking funds, | which would make Brazil the fourth | South American country to take such | sction this year. The others are Bo- livia, Peru and Chile. i Bankers Not Advised. | Dillon, Read & Co., American’bankers | for Brazil, said today it had not been | afvised of the proposed default or of | negognyclm;o‘l’?r & plan to meet the ocountry’s em with respect to ex- change and its foreign debkm | Interest will be paid October 1 and 15 | on the 6135 of 1927 and 1926, the last | payments due on Brazil's doljar bonds for the balance of the year. | Half of England's taxes on motor Yehicles now go to the treasury and half to #he road fund. Qart 4-Hr. Varnish 1 pint and 35¢ ean; 22 s colors. Reg. $1.30, Quart Linocrex (b LINOCREY | | | Makes un- | { cleum look like new. Reg. §1.30. ACHORN Co | s — Paluis Royal—Fourth Floor Bridge, table and junior floor lamps with heavy metal bases in new designs, finished with novel shades in pearl- luster effect and painted with charming Cre PALAIS TELEPHONE DISTRICT 4400 G STREET AT ELEVENTH Scranton Sunfast Rayon Curtains Regularly $2.95 to $3.95, Special Priscilla, Kriss-Kross and Tailored styles. Pair $2.95 to $3.95 Rayon Curtains pr. five-inch ruffles; tailored curtains with three- inch hems. Palals Royal—Second Floor $|.95. Dainty Point d’Esprit Curtains $2.95 - Priscilla curtains of point d'esprit, with wide ruf- fles. First time at which we've offered this quality at so low a_price. Palals Royal—Second Floor. Reg. $4.50 Value! 7 |0 T A Massive Walnut-Veneered Cedar Chest $29.50 48 inches long, and worth far more than our special price! ~ Beautiful to look at, made by mster craftsmen; guaranteed reliable protection sgainst moths. With each chest a guarantee that insures clothing stored in your chest against moth destruction up to $250. Other Chests, $10.95 to $45 Palals Royal—Second Floor. Further Proofs of the Palais Roszi’swl’\vlzzw Low Price Levels on Fine Furniture! You who know fashion, quality, construction, value, will not be able to turn away from this 10-pc. Dining Room Suite, The restrained beauty of the Sheraton lines will catch your eye first. Then the rich crotch mahogany veneers, combined with gumwood, the delicate contrasting line inlay, fluted pilasters, brass-footed legs on all picces, will convince you of the enduring construction. Chair fortable chair, deep seated, with appealing tapestries. designs. Most at- " tractive when light- ed, as the effect is ~ soft and .luminous. Shades in choice of wanted colors, Palais Royal—Fourth Floor English Lotinge Bucet, cabinet base china, server, host chair and 5 sides chairs; seats in blue haircloth. Coffee Table Solid walnut, with turned and carved spring-filled, reversible cushion, sprin base; ve - b,:ck. upholstered in your choice os Ty decora tive and exceptional at this price. You May Choose for $6.95 A Metal Bed In wood finish, with close Dliers at fread and foot; ma; egula- tion sizes. O by et 3 A Coil Spring A Layer Felt Mattress 50-1b. genuine layer felt i yer felt mattress in The Entire Bed Group . . .a Timely Value . . . for $20.85! Palais Royal—Fourth Floor Monday and Tuesday Are Dollar Days //Q fir in HOUSEWARES ad CHINA Decided Savings on Timely Fall and Winter Needs! $1.89 Electric Iron 6-1b. electric fron, with heel rest. Fully guaranteed. Waldorf Toilet Tis- , 25 Rolls for 650-sheet rolls; limited to 25 rolls to a custo- mer, $2.10 Breakfast Set 16 -pec. service for 4; popular green glazed ware. $1.85 Vegetable Freshener ‘White enameled; convenient size; for electric or ice refrigerators. $1.89 Chicken Fryer Cast iron pan with self-bast- ing cover. $1.69 Bridge Set Jet black glass; service for four; s very striking. $1.39 Mop, Pail and Wringer Complete outfit, including mop and patented ‘wringer. $1.65 Skillet Set 3 heavy, cast iron frying pans; small, medium and large. 10 Cups and 10 Saucers Regularly in open stock, $2.40. Only 1 set to a customer; green glaged jware; no tor, 5 for Equip your rooms with these useful Winter ventila- tors. e st $1.69 Breakfast Tray In attractive enameled colors; with legs; =& s eat conven- two-slice styles; complete with cord. $1.39 Cake Board and *Cover Decorated enam- eled cover and $1.50 Step-on Pail Galvanized leak- proof inset; large size; enameled frame. $1.65 Electrie Percolator Paneled sides; guaranteed; heating unit; cord separate. $189 Ash Can and Cover 20-gal. size with reinforced top and bottom; heavy cover. $1.75 Salad Set Topaz-colored bowl and plate; ‘wooden fork and spoon. $1.49 Flower Pot and Holder Wrought ° iron bracket = &wd s glazed flower pot. $1)50 Radiator Cover Heavy shield; walnut grain finish; front; sides. $1.49 Cash Box Heavy steel box with lock and keys; many uses. $1.98 Saucepan Set Triple - coated white enamel; $1.39 Garbage Heavy corru- gated sides; large sive; lock $1.75 Lisk Roaster Blue enameled roaster with self-basting cover and tray. $1.75 6-ft. Stepladder Reinforced lad- der with pail rest; strong and reliable. $1.49 Ironing Table Heavy, 4-legged, adjustable table; §| easy to fold up. $1.65 “Old English Floor Wax 2-1b. can of this nationally ad- 69c Broom, 2 for Four-sewed; se- - leoted $1.89 Bread Trays Chromium- plated, oval- s shaped trays; will not tarnish. $1.59 Clothes Basket Willow basket; large size; heavy braided rim. $1.49 Mixing Bowl Set 5 rolled - edge bowls of green 50c Waste Baskets 3 for Colorful decora- $) tions; suitable for any room. $1.39 Food Chopper Complete chop- per with set of cutting knives. . 5139 and $159 Double Boiler * Heavy: alum- inum; 1% sand 3 qt. capacity.