Evening Star Newspaper, July 4, 1932, Page 10

COLOMBIAN DEBTS | 10. 5. ANALYZED Outstanding Loans of Repub- fic in This Country Total $70,419,000. BY DR. MAX WINKLER. Special Dispatch to The Star. { NEW YORK, July 4—Within four | years the Colombian government was | permitted to accumulate a debt in the United States almost five times as| large as the debt accumulated by the | republic on the European continent in | over a quarter of a century. There are outstanding at preseat in the United States Colombian gover ment loans to the amount of & 419,000, as a result of a borrowi campaign covering the period 192 1930. This is_equivalent to an av- erage annual rate of $17,604,750. British and French investors hold at present only $13,780,000 par value of | Colombian government loans, the re- sult of financial transactions going| back to 1906, representing an annual | average of only slightly more than half a million All Sought Loans in United States. None of the Colombian departments or provinces have loans outstanding abroad. They were all accommodated in the United States sive Antioquia to tiny Tolima, they| all sought and secured loans in the American market. Almost $60,000,000 are outstanding in the United States. all the result of o five years o!‘ borrowing, representing an average | yearly rate of close to $12,000,000. All [ are in default and quoted at prices hardly in excess of what one might call souvenir values. Colombian cities also seem to have preferred ihe American market. All § their foreign debt is owned by United States investors. A total of $22.-) 675,000 is tstanding at present, the result of ven years of borrowing, equivalent to about $3,225,000 per an- num. No interest is being paid on Colombian city loans and none is likely to be paid in the near future. ‘Their debt has grown much faster than their revenues warranted. To- day the service on their commitments is substantially in excess of their ca- Ppacity. ‘Whether an adjustment will be made in accordance with the debtors’ capacity, as was done with Europe’s obligations to the United States Government, re- mains to be seen. One thing is certain: Neither the cities nor the departments are in a position to meet their engage- ments in accordance with the terms of the original loan contracts. Those who have been identified with the origina- tion and distribution of these bonds among the American investing public | have taken no concrete steps to assist | those on whom they called, only a short while ago, to subscribe to issues which were represented as fundamentally se- cure investments. That an adjustment of the existing debts of the Republic of Colombia and the various political subdivisions should go a long way towards improving the commercial, financial, as well as politi- cal relations between the two republics, is apparent. It should also greatly im- prove the status of American invest- ments in Colombia in general, amount- ing at the beginning of the current year %o almost $341,000,000, of which about $140,500,000 represents so-called direct Investments—that is, plants and proper- ties in Colombia owned by American interests. The remainder is represented by what is called portfolio investments —that is, bonds and various types of securities’ publicly sold and privately laced. America’s present stake in Co- jombia compares with only $4,000,000, Which represented pre-war American interests in Colombia, according to an estimate by Prof. J. Fred Rippy of Duke University. U. S. Colombian Commerce. American-Colombian commerce, prior to the war, amounted to somewhat more than $22,000,000, of which about $14,- 700,000 represented American purchases from the southern republic. In other words, in her trade with the United | States, Colombia had a favorable bal- snce amounting to close to $7,400,000. In 1931—admittedly one of the most Qifficult years in the economic history of nations—American-Colombian trade totaled almost $97,000,000, of which American purchases represented $75.- 000,000, so that there was a balance in favor of Colombia amounting to more than $54,000,000, equivalent to almost 16 per cent on America's total invest- ments in Colombia. In other words, under normal condi- tions, the Republic of Colombia has a sufficiently large commercial balance in the United Statés to justify the belief that American investments in that country are reasonably protected. How- ever, due to the large foreign stake in the republic and the correspondingly Jarge requirements in connection with | interest and dividends on such invest- | ments, Colombia's fiscal position has not been what might be desired, with the result that rigorous exchange re- strictions were put into effect and pay- ments on many obligations suspended. An adjustment of these questions in the light of actual developments, rather than on the basis of theories, would be most desirable, especially as far as American holders of Colombian obliga- gations are concerned. (Copyright. 1932, by the North American Newspaper Alliance, Inc.) GIRL ART STUDEN HANGS SELF OVER CLIFF | Body of Philadelphia Woman Is| Found on Precipice of Cali- fornia Canyon By the Associate: LAGUNA B , Calif., July 4—The | body of Helen M. Weiser, Philadelphia | art student, was found hanging from tree reaching over a 300-foot precipice | Aliso_Canyon yesterday. | She disappeared in her motor car| Searchers who found the body sald‘ he apparently had tied an end of a| { about & branch of the tree, another about her neck, and stepped | into space. Miss Weiser was the daughter of | Mr. and Mrs. Gates Brown Weis { Philadelphia. She lef she was departing health and financial worries CONVICTED IN SLAYING Man Faces Sentence in Fatal Beat- ing of Banker. MANTI, Utah, July 4 (#.—Sentence will be pas July 13 on Mendon Draper, convicted yesterdey of first- Gegree murder in the fatal beating last April of Andrew N. Bjerregaard, 84- year-old banker. A jury recommended life imprisonment. The prosecution charged Draper, 27, xilled the banker in a quarrel over Draper’s attentions to Mrs. Ivadell Jensen, 36-year-old divorcee and Blerregaard’s daughter. Mrs. Jensen faces trial tomorrow on a charge of being an accomplice in her father's slaying \ Subscribe Today It costs only about 1, cents r day and 5 cents Sundays to ve Washington's best newspa- per delivered to you regularly every evening and Sunday morn- ‘Telephone National 5000 and the delivery will start immediate- The Route Agent will collect st the end of each month. DAY JULY 4, 1932 - WooDWARD & LLOTHROP 10™ 11™™ F AND G STREETS Quality Assures and Insures Economy in Everything You Buy Here A New Deferred Payment Plan makes Buying Woodward & Lothrop Furniture and Homefurnishings Easier Than Ever Before H To allow more people to enjoy the privilege of Why ThIS New Plan buying Woodward & Lothrop quality Home- furnishings, on a basis adjusted to the incomes of today. H H You may purchase Furniture, Floor MerChandlse on Thls Plan Coverings, Refrigerators, Draperies, Lamps, Linens, Housewares, Radios, Electrical Appliances, Blankets, Bed- wear and Bedding, Glassware, China and Silverware, Custom-made Screens Awnings and Weatherstripping. \A/ Briefly you may buy in amounts as low HOW +he New Plan Orks as $25 on a four months plan; $35 on a 6 months plan; $63 on a 12 months plan, and $89 on an 18 months plan. The examples quoted above give the maximum time allowed for the respective amounts. All amounts of $35 and more may be paid in a shorter time if you so elect. A feature of the new plan that we Even Paymen+s Through°u+ believe will prove of added conven- ience because of its extreme simplicity, is the uniform payment throughout the life of the contract. Thus if you purchase $100 on an 18 months plan, with the service charge added, making total of $106.78. You pay $5.62 at time of purchase, and balance in 18 equal payments of $5.62 each. Example, based on purchase of $100 4 months plan 6 months_plan 12 months plan_ 18 months plan "5 equal payments 7 equal payments 13 equal payments 19 equal payments P monthly total monthly total monthly total monthly total payment cost payment cost payment cost payment I cost $20.30 $101.50 $14.61 $102.27 $8.04 $104.52 $5.62 $106.78 4,000 Worth of Woodward & Lothrop QUALITY FURNITURE Reduced V3 and More Original | Reduced Price Price Original | Reduced Description » Price | Price Description Dining-Room Furniture Reduced droom Furniture Reduced CHAIR; satinwood- CHESTNUT BUFFET | $70 | $4650 e e s15 $10 HESTNUT CHINA ) “WALNUT* BEDROOM | = a1 oo RS CHAIRS DINING ROOM CHAIRS; mahogany*® 1 1 "MAHOGANY** CHINA CLOSET i WALNUT* _CHINA CLOSET e MAHOC 865 | $30 : VANITIES $60 $26 WALNUT* BENCHES 2 ~s15__ | $7.50 > Living-Room Tables Reduced DRESSERS; maple-and-gum WALNUT TABLE | $45 | . | LOWBOYS; "REVOLVING TABL T aple-and- of mahogany S T MAHOGANY** TABLE| $60 | $40 satinwood- WALNUT* TABLE | $65 | $3750 TP TABLE | - $30 $20 MA C (Il)\llflml 1]:‘;"(9 $15 sio MAHOGANY** TILT- € < TOP TABLE : CHERRY DOUBLE TILT TABLES, of - iy . e satinwocd-and-gum | MAHOGAN INC| $1450 MAHOGANY** TILT | AFRICAN TABLE BENCH $12.50 MAHOGAN MAHOGANY** END TABL 2 NIGHT TABLE “MAHOGANY**~ DOUBLE BED DOUBLE POST BED; maple-and-gum M A ANY i IAHOGANY LAP Mirrors Reduc DESKS _ ‘ Llmee e —— ARCH-TOP MIRROR; CARD TABLE makogany** frame Living-Room Chairs Reduced - ol ’ 3 $55 | MAHOGANY CHAIRS |$35 | $23 "MAHOGANY LIVING ROOM CHAIRS S FRAMED MIRRORS 2 1 $35 523 2 520 $11.25 1 $85 $56.25 it b $2650 | $15 MIRROR $20 | s11.2s Book Casesand Wall Racks Reduced Che e 9 NiAHO(; & MAHOGANY** BOOKCASES 1 BOOTERY | WALNUT* TE PHONE CABINET S "OAK TELEPHONE | $30 REVOLVING BOOK | 1650 | - ’;E:-éx,\nofi 1 3 & ¥ A H 7. RA 2 |anddred freen | sz e “WALL BOOK RACKS . e of _maple 2 SCR:EENS $65 $33.75 1 110 $56 *walnut-and-gum **mahogany-and-gum FURNITURE, SIXTH FLOOR. *walnut-and-gum **mahogany-and-gum Quality has always been an economy and still is. Woodward & Lothrop has always been a quality store—and still is. There is so much that is inferior being offered that we want you to know that you cannot find it here, and because you cannot find inferior qualities here, this is a most economical store in which to shop. Special Purchases and Reductions from Stock— 2,000 Yards Glazed Chintz ot A yad In beautiful Sl_xmmery patterns, on light or dark grounds. Makes up into the gayest, longest wearing drapes, bedspreads, and slip covers—some are even sun-fast. 2,500 Yards Cretonnes, Chintzes e BRE yard Beautiful part‘-lincn cretonnes, fine, plain cretonnes, and splendid quality glazed chintz for Summer slip covers, upholstery, draperies, bedspreads, and pillows. 36 inches wide. DrapERIES, SEVENTH FLOOR. ulistan Rugs Limited Number—Reduced 15% From This Season’s Low Prices Patterns they will not make again . . . but all perfect quality rugs that have sold this season at the higher prices quoted. Sizes are approximate. 9x12 Size 8.3x10.6 Size 6x9 Size Recently $100 Regularly $94.50 Regularly $66 $33.50 $]5-25 $Q.25 4Y5x7Y; Size 36x63 Size 27x54 Size Regularly $39.50 Regularly $18 Regularly $11 AMERICAN-ORIENTAL RuGs, FIFTH COTTONS 3,000 Yards Fresh, New, Colorful Summer CHECKED VOILES SEEDED DIMITIES SHADOW-DOT VOILES 25C yard Were in stock earlier this season at 38c and 50c 2,000 Yards Printed Voiles, I 8 . Batistes, Lawns—Special Corrons, Srconp Froor.