Evening Star Newspaper, January 23, 1933, Page 7

BOND GONVERSIO UPTONEW REGIME Mills Limits Fund Requests. $250,000,000 Notes Go on Sale Feb. 1. By the Associated Press. The new Democratic Secretary of the Treasury will be left with the ques- tion of whether to convert more than $8,000,000,000 of liberty bonds, and more than $5,000,000,000 of short term public debt securities into long term bonds, it was indicated today with an- nouncement by Secrctary of the Treas- ury Mills of the outgoing administra- tion's February financing. Mills asked for only enough money to pay maturing Treasury certificates and interest on the public debt, and to furnish funds for the Reconstruction Finance Corporation. He announced the Treasury would sell on February 1, about $250,000,000 in five-year Treasury notes bearing 2% per cent interest. The notes will be exempt from all taxation except in- heritance and estate taxes; will dated February 1, mature February 1, 1938, and will not be callable before that time. Interest Rate Varies. ‘The rate of interest is not as small that on some bonds sold in recent years, but less than some sold re- cently. The money derived from the sale of the bonds will used to pay approxi- mately $145,000,000 due on Treasury certificates bearing 33; per cent interest payable February 1, to pay about $13,- 000,000 in interest on the public debt end furnish funds for the corporation. Banking and market circles in New York for weeks have heard reports the ury would float a larger issue of fong term bonds in February as a “test” of the market to determine if it was an opportune time to announce conver- sion of some of the outstanding $6,268,- 000,000 of fourth liberty 414 per cent bonds and fund some of the short term Would Be Taken as Feeler. The rumors had it that while the amount was not to be large, such action would be taken as a feeler. ‘The present administration, however, could not have done more than float & test issue, for before any of the first or fourth liberties could be called the ‘Treasury would have to issue notice on an interest date, at least three months before the call date. ‘The next interest date is March 15, and the Democratic administration will be in office. The first liberties are call- able now, while the fourth are callable on and after October 15. The outgoing administration could, however, convert some of the short term debt now at a maximum figure into long term securities, but Treasury offi- cials have declined to indicate whether they are considering such a plan. SR ACTION ON MORTGAGES IS URGED BY M’ADOO Benator-Elect Believes Pending “Domestic Allotment” Plans Is Too Complicated. B the Associated Press, SHREVEPORT, La. January 23.— S-nator-elect William Gibbs McAdoo b-lieves something ought to be done about mortgages, the credit system and th> farmer, but says the pending “domestic allotment” farm relief plan is “too complicated to administer” in its_present form. Stopping over here en route home by airplane, McAdoo said he believed the farm relief bill now before the Senate would need several amendments to be made practical. He said he be- lieved the country’s credit system needs “revamping.” He added, “I feel that we must do something to make all banks safe for depositors. The number of bank fail- ures in the United States is amazing.” Minute Mysteries Selution to FORDNEY SAVES HIS LIFE. (See Page A-3.) The salt shaker handed Ford- ney by Schwarz was WARM. He knew, therefore, that Schwarz had it in his pocket hoping to substitute it for the shaker on the table, which was naturally much cooler to the touch. His only reason for doing so would be to poison Fordney. It was found to contain arsenical crystals which would have poi- soned the professor had he salted his food with the shaker. HE IS SAFE FROM DANGER WHO IS ON HIS GUARD EVEN WHEN SAFE.—Syrus. - SAVE MONEY BY BUYING GREAT VALLEY ANTHACITE Great Valley is a genuine hard ooal mined in Virginia. It is a free-burning, white ash, high heat, non-clinkering hard coal. Great Valley is the ONLY Vir- Anthracite that is cleaned an ULTRA-MODERN clean- ing plant, eliminating impurities. Per Ton, 2210 Lbs. Great Valley Stove..$12.00 Great Valley Chestnut 12.00 Great Valley Pea... 9.50 JAMES E. COLLIFLOWER & CO., INC. 1001 15th Street N.W. South Wash- 706 5th St. SE. ington, Va. Clarendon 393 Metropolitan 4277 PERSONAL Will the pretty young lady in the green hat who coxghed in the Palace Theatre last night please communicate with me? I have a box of SmithBrothersCoughDrops for her. Black or Meathol — whichever she likes. «=G.R.M.,, Box 22; be | in their respective industries. THE EVENING DEPRECIATED CURRENCIES. LET NATIONS EXPORT MORE TO U. 8. Imports Here From Gold Standard Coun- tries Show Decrease Over Same Period of Time. The following article is one of & series showing how industrial conditions in _foreign countries affect American workmen. Merwin H. Browne. the writer, is & member of the Washinkton Bureau of the Buffalo Evening News. BY MERWIN H. BROWNE. Although imports to the United States from every gold standard coun- try decreased, both in gquantity and value, during the first eight months of 1932, in comparison with a similar pe- riod during 1931, at least four of the non-gold countries were able to in- crease their general level of imports at greatly depreciated currency prices. At the same time, nearly all of the, depreciated currency countries were | able to effect radical increases in their | exports to the United States of specific commodities, and while a majority of | the non-gold countries likewise showed | quantity and value decreases of exports | to this country, it has been the spe-! cifically increased exports to this Nation | which domestic manufacturers claim | have caused distress and unemployment A study of the comparative import ! totals, prepared by the United States | Customs Bureau of the Treasury De- partment, shows that the gold standard countries, including Italy, Germany, Czechoslovakia, Switzerland, France, | Belgium, Netherlands, Netherlands East Indies, British South Africa, Cuba and Colombia, suffcred decreases in quantity of exports to the United States ranging from 3.2 per cent as in the case of Bel- glum, to 339 per cent for Czechoslo- vakia, and that the average unit value of these imports showed decreases rang- ing from 8.2 for Italy to 48.1 per cent for British South Africa. Decrease Their Exports. Of the 19 principal non-gold coun- tries, Portugal, Norway, Spain -and Newfoundland showed substantial in- creases in the quantity of their exports to the United States, together with equally substantial decreases in the average unit values of these exports. For instance, Portugal's exports to the United States increased 91 per cent in quantity and decreased 42.5 per cent in unit value: Norway’s exports in- creased 31.6 per cent in quantity and decreased 35.3 per cent in value; Spain increased the quantity of her exports to the United States 4.5 per cent, while the value per unit decreased 21.3, and Newfoundland, whose exports increased 20.1 per cent in quantity, decreased 19.2 per cent in unit value. ‘The remainder of the non-gold coun- tries showed decreases both in quantity and value. For instance, Finland de- creased 5 per cent in quantity and 35.2 per cent in value; Denmark, 105 per cent in ‘quantity and 30.8 in value; Sweden, 289 in quantity and 189 in value; Japan, 45 in quantity and 31.6 in value; United Kingdom, 1568 in quantity and 296 in value; British India, 18.3 in quantity and 174 in value; British Malaya. 28.4 in guantity and 399 in value; Australia, 559 in quantity and 31.4 in vaiue; New Zea- land, 43 per cent in quantity and 13.5 in value; Egypt, 75.6 in quantity and 29.8 in value; Canada, 42.1 in quantity and 15 in value; Mexico, 14.6 in quan- tity and 7.7 in value; Argentina, 23.6 in quantity and 37 in value; Brazil, 37 in quantity and .5 in value, and Vene- zuela- decreased 92.6 in quantity and 313 in value. But the total import figures, show- ing aggregate increases and decreases in quantity and value do nst reflect an accurate picture, so far as indicating the pressure placed upon American in- dustries by specific foreign commodi- ties is concerned. Japan, for instance, shows an actual decrease in the quan- tity of her exports to the United States, but Japan is the most complained against mnation by American manu- facturers because of her increased shipments to this country of fish, elec- tric light bulbs, china, floor coverings and matches. ‘The total exports to the United States from the United Kingdom likewise reg- | istered a decrease, but American manu- | “You said it—-we need a Big Car A CERTIFIED INTERVIEW WITH HARRY D. EDWARDS (ENGINEER), 76 PINE BROOK DRIVE, LARCHMONT, N. Y. “There 1 “So I took em down to a showroom in New Rochelle: And when the family saw the new Plymouth, I just bad to buy it. But the low price of the car aod the trade-in made it easy.” PLYMOU _WiTH FLOATING POWER facturers of cement, steel and china complained bitterly against this com- petition. Norway, whose exports showed an increase all along the line, gave American sardine packers particularly stiff competition, as ** Portugal. Den- mark and Spain, although the total ex- ports of the latter countries showed de- creases. ‘The figures of the Customs Bureau show that among the exports from | Portugal.to the United States, sardines | increased 100 per cent in quantity and | decreased 43 per cent in value, while exports of cigarette paper increased 30.8 | per cent in quantity and dropped 3.3 per cent in value. Among the exports to the United States from Japan, salmon increased 2,511 per cent, while dropping 67 per cent in unit value, going from 1,700 pounds during the first eight months of 1931 to 44,400 pounds during the same period in 1932. Tuna fish, in oil, increased 558.9 per cent in quantity and dropped 34 per cent in unit value, the | quantity increasing from 433,949 pounds | bags and mie in the 1931 period to 2,859,334 pounds in the 1932 period. Rubber-soled fabric- | | upper footwear imports from Japan in- | increased exports of fresh beef and creased 129 per cent in quantity and | dropped 20 per cent in value; floor- clams, maple sugar and sirup, and Mex- IN THE ® \ o lifornia and ® Southem Apjz0na Ride hcrseback over sunny trails. Motor over speedy | desert highways. Desert inns, famous resort hotels, Dude Ranches and hot springs. STAR, . WASHINGTON, D. C., MOXI coverings increased 35.8 in quantity and decreased 39 per cent in value; electric light bulbs increased 166.3 per ceént in quantity and decreased .39.3 per cent in value, while matches increased 41.6 per cent in quantity and decreased 36.8 in value. _ Denmark’s exports of cod, haddock and hake, pickled or salted, increased 3,729 per cent in quantity, or from 69,- 528 pounds in 1921 to 2,432,977 pounds in 1932, while dropping 54.9 per cent in value. Finland’s Exports Gain. 136 per cent in quantity and dropped 20.9 per cent in value; cattle hides, wet and salted, increased 34.7 in quantity. while decreasing 37.5 per cent in' value, and cattle hides, dry, salted. increased 66.2 in quantity and dropped 48 per cegt g‘rjx value. jweden’s wrapping paper exports to the . United States increased 615 per cent in quantity and dropped 375 in value. Norway's sardine exports in- creased 52 per cent in quantity and dropped 38 per cent in value. Vene- zuela’s crude petroleum exports to this country increased 222 per cent in quan- tity, or from 14,981,257 barrels in the 1931 period to 18,305,673 barrels in Pinlind’s exports of cheese increased ' Ico increased exports of live cattle, dried beans and chick peas. The Customs Bureau figures also show that during the first eight months of 1931 depreciated currency countries provided 51.5 per cent of America’s im- mm, and 51,7 per cent during a simi- period in 1932. Par Currency Values. at only $474,437,742, compared with $745,898,519 during the first eight months of 1931, if the 1932 imports had been evaluated at par of currency, instead of on a depreciated basis, they would have been worth $681,886,208. On this basis, 1932 imports would show a wecrease under the 1931 imports of only 8.6 per cent. On a similar basis, imports from Another interesting tabulation has | Japan, worth, during the eight-month been completed by the Customs Bureau. | period of 1932 only $87,2:0.117, as This shows that while the imports to | compared with $129,438,613 in the 1931 the United States from all the depre- | eight-month period, would have been ciatec currency countries during thetwcrul, on.a par basis in 1932, $139,.- first eight months of 1932 were valued ' 584,520, a fictitious increase in value A— the 1932 period, would have had exports in 1932 valued at $44,810,293 if her currency had been at par, a fictitious increase of 23 per cent. over the imports for the eight months of 1931 of 7.8 per cent. Finland, with exporis to the United & :1':; wt;llng! %5,195.2:’06 in h!h05 l::fl | pe under study, and worth $5580, - Brazil, whose exports droj fre 494 in the 1932 period. would have had | $78,296.870 during The m:"fi‘hu? exports valued at $8778913 on a par | $37493.484 in the 1932 period. would basis in 1932, a fictitious increase of | have had exports valued at $100,232,713 41.7 per cent. | on a par valuation in 1932, an increase Egypt, with exports valued at $3.- | of 28 per cent. 035841 in 1931 against $3,880.744 in | (Copyright, 193 bv North American News- 1932 would have had exports valued at i Ty $5,227,295 at par in the latter year, an RYTE e e e increase of 72.2 per cent, while Mexico,| The new Y. M. C. A. headquartess with exports during the 1931 period of | in Jerusalem will be d-dicated om $36.437.291 as against $28,951,930 in | Easter day by Viscount Allenby. Safe! 19.;!2‘ while decreasing 38.4 per cgat in value. At the same time the United King- | dom increased her exports to the United | States, at decreased values per unit, of | cod. meat extract, edible gelatin, stearic | acid, candy, raw cotton, jute, table linen, linen sheets and pillowcases and towels; Spain increased exports of sardines, pimentos, olives, walnuts and olive oil; British India increased exports of jute : New Zealand boosted | her exports of dried peas; Argentina in- creased cattle hide exports; Canada | pork, hams, cream, butter, cheese, fish, Powerful! Goes 3 times as far Make *1 go as far as *3 when Play soi Swim in open-air pools. | pencodent Antiseptic has. Only two kinds Very reasonable rates this winter. THERE are other good antiseptics on the market that will help you prevent colds. .. but they cost three times as much to use. That's the great advantage than 10 seconds. Makes $1 Pepsodent Antiseptic is at least three fighting sore throat colds PEPSODENT ANTISEPTIC Is 3 times as powerful as other leading mouth antiseptics. Hence it goes 3 times as far. And whether you buy the 25¢, 50c, or $1 size, you still get 3 times as much for your money. ® utterly safe when used -full strength, yet powerful enough to be diluted with 2 parts of water and yet kills germs in less IMPURE BREATH (Malitosis) The amazing results of Pepsodent Antiseptie in fighting sore throat colds prove its effectiveness in checking Bad Breath (Halitosis). Remember, Pepsodent is 3 times more powerful in erms than other leading mouth antiseptics. ‘tmemhtn even when diluted with water it still kills germs. Some of the SO different uses for this equal $3 DEATH VALLEY—Warm, colorful, comfortable. One of the oufstanding desert resorts of the world. Ask for our new DEATH VALLEY folder. When fighting sore throat colds and Bad Breath (Halitosis), remember there are really only two leading kinds of times as powerful as other leading mouth. antiseptics. Hence it goes three times as far — gives you three times as much for modern antiseptic Sere Threat Colds Cutsand Head Colds Abrasions Smoker's Throat After Wwill gladly send picture folders upon request this winter—on A daily Phoenix 6.C. s nothing I d rather do than uk m family riding . . :bmwxlh a gang the size of mine, somebody usually had to stay home. So reom in a car was mighty importaat to us.” Special PHOENIX PULLMAN three times a week Grand Canyon Limited. 302 Franklin antiseptics on the market. In THE CHIEF. Puliman—the year ‘round—on the DA, ey At PHILADEL P’nfl\ll: gfi" nes: Rittenhouse 1464-1488 is the mouth antiseptic that must be used full strength to be effective. In the other group is Pepsodent Antiseptic — Pepsodent Antisepti one group i 4 “One day we saw a Plymouth ad in the paper. The kids said ‘That’s a swell-looking automobile, Dad. The ad says it’s a full-sized car. We need one like that for our bunch. Can’t we get one?” 73 o] ‘After driving I G S © TH SIX ‘495 “Now we're all happy. The car rides like a million dollars: There’s not a trace of vibration. the new Plymouth, I woulda’t buy ey new car that didn’t have Floating Power.” DESOTO, your money —and gives you extra pro- tection against stubborn colds and throat irritations. Insist on Pepsodent Antisep- tic—andbesure! Besafe—andsavemoney! Bad Breath Chapped Hande Mouth Irritations Bandruft Irritations of the Gums After Extractions , Aching F Skin irritatiens Checks Under-Arm Perspiration Odor “Athlete’s Foot™ TWO FAMOUS RADIO PROGRAMS Amos 'n’ Andy . . . The Goldbergs Bvery night except Saturday and Sunday, over NB.C. 14/ ® “WE PICKED PLYMOUTH BECAUSE IT'S SO BIG IN SIZE...AND VALUE" AYBE you haven’t got a big family like Harry D. Edwards, but you cer- tainly want plenty of room in your car: Youcan’thave real riding comfortifyou’re cramped for space, or if you're annoyed by engine vibration. We find that people who want comfort... who want to relax: : . are picking Plymouth. Because it's a full-sized car: ::and because it’s the only low-priced Six that is free of all vibratidn : ; . the only one with Floating Power engine mountings! What do people think of it? Ask Mr. Ed- wards. He’s an engineer. He says: “In my opinion, any car is behind-the-times with- out Floating Power! Or, in fact without Hydraulic Brakes or a safety-steel body! People with families have to think of safety these days!” Prove it for yourself: Ask your dealer for a Floating Power ride: Also ride in the other two low-priced cars: Then decide! NEW PRICIS —4-DOORSIDAN NOW$90 LISS Four-Door Sedan $545, Convertible Coupe $565; Rumble Seat Coupe $525, Business Coupe $493, f. 0. b. factory. Convenient terms. Low delivered prices; Automatic Clutch optional — $8. AND UP F. O. B. FACTORY * SOLD BY 7,232 DODGE AND CHRYSLER DEALERS