Evening Star Newspaper, April 1, 1932, Page 13

NONEY ONDTIONS MCH INPROVED Week’s Review of Reserve Board Shows Continued Loosening of Hoarding. Another increase in the country’s gold stock and a continued loosening up of hoarded money were cited here today in Treasury circles as encouraging | factors in the week's financial affairs. The Federal Reserve Board in its; weekly review said that money in cir- | on tion had decreased | the total circulation t to $5,436,000,000. nkage accounted for ease in circulation Money in Circulation. Money in circulation includes all| of the money outside of the Treasury ot held by Federal Reserve agents and the shrinkage is attributed ohiefly to| return of hoarded funds to the banks from which they found their way back into the Treasury. The total, however, Was $816,000,000 greater than it was date a year ago. gold stock of the Na- 30 amounted to $4,388, e of $7,000,000 in s increase followed | increases for > previous weeks, | Jast week of $7,000,000 and the two weeks before, $12,000,000 each. | Brokers' Loans Increase. | Brokers' loans increased $1,000,000 during the week to $525,000,000, but still were just a third as large as they Were a year ago when the loans amounted to $1,875,000,000. The Federal Reserve Board also re- ported that the daily average volume of Federal Reserve bank credit outstanding during the week was $1,599,000,000, an ncrease of $3,000,000 in the week and ©of $680,000,000 compared with the same week in 1931, The decrease in money in circulation and of monetary gold brought a decrease in the total Reserve bank credit for the week which | dropped $10,000,000 to $1,587,000,000. | | | LIBRARY EXTENSION | PROGRAM INDORSED mon tion on Ma | Ask | Citizens' Association Will Congress to Change Name of Conduit Road. The extension program for the Pubuc' Library was indorsed by the Conduit | Road Citizens’ Association at a meeting held last night in the Potomac Heights Community Church. The resolution was introduced by Frank Shull after the secretary read a letter from Theodore W. Noyes, presi- dent of the board of trustees of the Public Library, ssking unanimous sup-| port 50 that in a few years every sec- tion of the city would have its own branch. Mrs. H. J, Steimer introduced & reso- | Jution which was adopted requesting | that Congress change the name of Con- | duit road to Washington avenue. Mrs. Steimer sald the name Conduit road was often misspelled and was no longer needed to 'tell the it carried water mains. A of this resolution was sent fo Senator Arthur Oapper, Representative Sol Bloom and Repre- sentative Mary Norton. A resolution -approving the $600,000 unemployment relief fund was passed and a suggestion was made that part of the money be used to remove the old Aqueduct Bridge. ‘The members said this would give employment to many and remove an object marring the beauty of Key Bridge. Mrs.” D.. G. Morris’ resolution re- questing that the Post Office Depart- ment return the branch post office to the community also was adopted. The members cited the inconvenience since its removal. A copy of the resolution was_forwarded to Postmaster William M. Mooney. ¥ Chinese Girl Pilot SEEKS FLYER'S LICENSE AT PORTLAND, OREG. Twenty-four-year-old merican - born Chinese girl, expects soon to obtain her pilot's license after finishing a course of instruction at Portland, Oreg. —A. P. Photo. AUTO WEGHT TAY FOUCHTBYM.& M. Present Levy Called Suffi- cient to Meet Road Expenses. Taxation of automobiles and trucks on a basis of their weight was vigorous- ly opposed by the Executive Commit- tee of the Merchants and Manufac- turers’ Association at a meeting yester- | day. Holding that the present motor ve- hicle taxes are “producing sufficient revenue to meet an equitable share of the expense of building and maintain- ing roads of the District,” the group voted to take a stand in opposition to the proposed auto weight tax, sponsored by the Mapes Committee, when hearings are held before the Senate District Committee starting Tuesday. Estimate Submitted. A subcommittee of the trade body submitted a report estimating that pres- ent automobile taxes will amount to $2,600.000 for the current year, which, according to the committee, represents 66 per cent of the entire cast of street construction, replacement and mainte- nance, and the operation of the High- way Department and the Department of Vehicles and Traffic. The association took the position tha the Federal Government proportionate share of the highway ex pense because of the fact that the un- usual width and character of the streets in Washington are made necessary be- cause it is the seat of the Federal Gov- | ernment. Large Sums Spent. Large sums are spent on construction, replacement and maintenance of streets abutting Federal property, for which the United States Government pays no assessment, the Executive Committee asserted. The group pointed out further that the Pederal Government owns and oper- ates thousands of sutomobiles and trucks which use District streets con- stantly. ‘The Federal Government, the com- mittee “asserted in opposing the tax measure, matches the appropriations made by the several States for State roads, but makes no such appropria- DR. CLAUDE S. SEMONES Eyesight Specialist Phone National 0721 409-410 McLach! 10th and G WE SELL U. 8. GOVERNMENT INSPECTED MEATS 311 Tth N. W. FRIDAY 3146 “M”" N. W. and SATURDAY SPECIALS! Pork Loin % . 1 34 | Ham Whole or Half TGREEN LINKS, SCRA LIVER PUDDING Each NATI ROAST and CHOPS 13 PPLE and VE VEAL KILLED STEWING ' FANCY FRESH- CHlCKENS,‘_Lb.. - l Pork Beef Butter d 23 Liver Sliced, Lb.. §¢ Liver Sliced, Lb. 121/¢ Pure Lard in Packages. Any Amount Sold Rose Brand Pure Creamery amb STEW. Chops 124¢ Watch Our Window Signs for Daily Specials THE FINDS SOVIET LIKES AMERICAN PRODUCTS Rail Executive Says U. S. Freight Locomotives Triple Amount of Tonnage Handled. By the Associated Press. CHICAGO, April 1.—Ralph Budd, American railway executive, who made a survey of the transportation system in Russia, yesterday said that sug- Pillow Back, Tapestry EVENING STAR, WASHINGTON, gested improvement and expansion of the Soviet roads would cost about $3,- 500,000,000 if American standards were followed. Budd, who has become president of the Chicago, Burlington & Quincy since he returned from Russia, said Russian officials were Ly no means | unanimous in the opinion that Amert- can standards, methods and practices of railway construction and operation should be adopted. He added, however, that heavy Amer- ican freight locomotives had recently been shipped to Russia and were each handling three times as much tonnage as was formerly handled by their old locomotives. “Such demonstrations should natu- rally lead to the general adoption of D. C., FRIDAY, APRIL 1, 1932. COMPOSER TO BE HEARD Samuel Bugatch Will Give Recital at Jewish Center. Samuel Bugatch, composer of Jewish folk music, will conduct a recital of his | compositions tomorrow evening at the | Jewish Commurr\lty Center. Mr. Bugatch 4 o + | is a graduate of the Peabody Conserva- Washington,” Topic Tonight. | iory of Music, studying under Gustav Representative Sirovich of New York | Strube and Howard R. Thatcher. H will discuss “A Jewish University Dedi- | holds a certificate in teaching from cated to the Memory of George Wash- | that institution, later studying conduct- ington” at religious services in the | Ing under Franz C. Bornschein. Sixth Street Synagogue tonight. Rabbi| The entire program is composed of Solomon H. Metz will conduct the cere- | Jewish music, to be presented by the monies. Zimrah Chorus, a group of 30 well American railroad standards and prac- tices,” Budd said, “and generous orders for railroad supplies of all kinds should follow. There is a marked tendency to favor American made products.” SIROVICH IS SPEAKER “Jewish Unijversity Dedicated to | Louts Shub, planist: Leah Steinbach, so- trained voices, and 8 number of par- ticipating artists, including Oantor Samuel Malavsky, tenor; Sarah Feld- pianist; Sidney J. Hamburger, cellist; Milne, attache the embassy, died last night after three months illness of scarlet fever. Funeral services wifl be held in Rome and the prano; Thelma Viol, contralto. In ad- | body will be taken later to the family * dition, there will be a male quartet ' vault at Newport, R. I. consisting of Messrs, J. Harry Freeman, j—— — Erwin L. Ulmen, Benjamin Jacob Miller. Edmonston Council to Meet. ] EDMONSTON, Md, April 1 lspe—‘ cial). —The Edmonston mayor and Town Council will meet tomorrow night In‘ the school auditorfum. NATIONAL . . . Furniture Is Attractive, Popular, and of Stand- ard High Quality. + « . 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