Evening Star Newspaper, March 17, 1933, Page 5

FARM GROUPS ASK } PASSAGE OF BILL Urge Committees to Rush Crop Control Measure for Vote. . (Continued 1 Others said they proposed a halt in “rubber-stamping procedure.” Meanwhile, Representatives of proc- essors hurriedly analyzed the long and complicated bill, some of them definitely committed to battling its enactment. Others were jtilled by the President’s; plea in his :¢2cial message to Congress yesterday for “a fair trial” of the measure. Some processors were particularly in- terested in_a provision that would let Secretary Wallace require all to be licensed, whether they handled com- modities named in_ the bill or com- peting products. This - would permit assessment of $1,000-a-day fines against those who operated without licenses. Wallace, however, indicated he did not intend to use this unless processors failed to co-operate willingly. Sweeping Powers Given. Based on recommendations of farm organization leaders and editors, the program would place in the hands of Secretary Wallace sweeping powers to deal with the problems of low prices and surplus production. The program has flexibility, empowering Wallace to employ parts or all of several plans, including the Smith cotton method, the principles of the domestic allotment bill, leasing of lands to retire them from production and trade agreements. Through the co-operative agreements between producers and Pprocessors, Wallace is hopeful of accomplishing the purpose of the program. He has conferred with representatives of millers, packers, cotton spinners and | others and expressed himself as confi- dent of winning their support. A processors’ tax is the chief source of revenue proposed to provide funds to finance the program. From it, pay- ments in the form of rentals or benefits or both could be paid to farmers in return for agreements to curtail production. ‘The Smith option plan would be applicable to cotton planters, its pur- e being to buy up supplies of cotton E}oswhi(‘h the Government now has a financial interest and to give growers options on these in return for produc- tion cuts. Enhancement of the value of cotton thecretically would benefit the grower and option holder. Restoration of farm prices to the 1909-1914 pre-war level is the goal. If and when that goal is attained, the plan would go out of operation. The processors’ tax, if levied in the maxi- mum amount, would be in an amount equal to the difference between the pre-war level and current market prices. Roosevelt Is Hopeful. The President asserted that the measure “offers great promise of good i results,” adding: “T tell you trankly that it is a new and untrod path, but I tell you with equal frankness that an unprecedented condition calls for the trial of new means to rescue agriculture. “If a fair administrative trial of it is made and it does not produce the hoped for results I shall be the first to acknowledge it and advise you,” he said. 5 Secretary Wallace said that if the measure passed he would aim to bring about this year a 20 per cent reduc- tion in acreage of all crops covered by it. He said that “in no case is the consumer going to be gouged.” The Preisdent also urged quick action not only to make the plan effective for this year’s crop, planting of which al- ready has begun in the South, but to place this country “in a_ better posi- tion to discuss problems affecting world crop surpluses at the proposed world economic conference.” At that time, the President has said he will seek a worldwide wheat pro- duction curtailment agreement. Secretary Wallace said the proposed trade agreements with packers and other processors would be exempt from rovisions of the anti-trust laws. It is is aim to accomplish the. purpose of the act wherever possible by agreements with processors and producers and to use his authority to license, regulate and levy the processors’ tax omly in case of necessity. Envisioned as “Club.” “It will sevve as a club,” he said. In the case of hogs and corn, the payment of rent for retirement of corn land frem production will be contingent upon a corresponding reduction in the quantity of hogs marketed by the pro- ducer. In the case of cash crops, the rental or benefit payment may be based primarily - upon reduction in acreage of the particular crop. Wallace also would have power to rent land in large tracts in selected regions cr to allot acreages to States and counties to give producers an equal opportunity to retire land and receive rental. Text of Roosevelt Farm Aid Message (Prom the 5:30 Edition of Yesterday's Star.) The text of President Roosevelt's message on farm relief sent to Con- gress today follows: To the Congress: At the same time that you and I are joining in emergency action to bring order to our banks, and to make cur regular Federal expendi- tures balance our income, I deem it of equal importance to take other and simultaneous steps without waiting for a later meeting of the Congress. One of these is of definite, constructive importance to our eco- mnomic recovery. It relates to agriculture and seeks to increase the purchasing power of our farmers and the consumption of articles manufactared in’our indus- trial communities; and at the same time greatly to relieve the pressure of farm mortgages and to increase the asset value of farm loans made by _our banking institutions. Deep study and the joint counsel of many points of view have pro- duced a measure which offers great promise of good results. I tell you frankly that it is a new and untrod THE EVENING STAR, WASHINGTON Text of President’s Farm Relief Bill Roosevelt’s Emergency Measure as Submitted to Congress Proposes to Meet the Existing National Economic Crisis by Increasing Agricultural HE text of the bill proposed by the President to relieve the ex- isting national economic emer- gency by increasing agricultural purchasing power follows: Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That the present acute economic emergency being in part the conse- quence of a severe and increasing dis- parity between the prices of agricultural and other commodities, which disparity has largely destroyed the purchasing power of farmers for industrial prod- ucts, has broken down the orderly ex- change of commodities and has seri- ously impaired the agricultural assets supporting the national credit structure, it is hereby declared that these condi- tions in the basic industry of agricul- ture have affected transactions in agri- cultural commodities with a national public interest, have burdened and ob- structed the normal currents of com- merce in such commodities and render imperative the immediate enactment of this act. Declaration of Policy. Sec. 2. It is hereby declared to be the policy of Congress: (1) To establish and maintain such balance between the production and consumption of agricultural commodi- ties, and such marketing conditions therefor, as will restablish prices to farmers at a level that will give agri- cultural commodities a purchasing power with respect to articles that farmers buy, equivalent to the purchas- ing power of agricultural commodities in the pre-war period, August 1909- July, 1914; and (2) To approach such equality of purchasing power by gradual correction of the present inequalities therein at as rapid a rate as is deemed feasible in view of the current consumptive de- mand in domestic and foreign markets. (3) To protect the consumers’ interest by readjusting farm production at such level as will not increase the percentage of the consumers’ retail expenditures for agricultural commodities, or products was returned to the farmer in the pre- war period, August, 1909-July, 1914, Title I—Cotton Option Contracts. Sec. 3. The Federal Farm Board and all departments and other agencies of the Government are hereby directed: (a) To sell to the Secretary of Agri- culture ‘at such price as may be agreed upon all cotton now owned by them. (b) To take such action and to make | such settlements as are necessary in | order to acquire full legal title to all | cotton on which money has been loaned or advanced by any department or agency of the United States or held as collateral for loans or advances and to make final settlement of such loans and advances upon such terms as may be deemed advisable, in the judgment | of the Secretary and the department or | agency involved; and to sell this ~otton also to the Secretary in the sam:> man- ner as is provided in the preceding | paragraph hereof. Sec. 4. The Secretary of Agriculture | shall have authority to borrow money upon all cotton in his possession or con- | trol and deposit as collateral for such | loans the warehouse receipts for such | cotton. Sec. 5. The Reconstruction Finance Corporation is hereby authorized and directed to advance money and to make loans to the Secretary of Agriculture to acquire such cotton and to pay the carrying costs therecn, in such amounts and upon such terms as may be agreed | upon by the Secretary and the Recon- struction Finance Corperation, with | such warehouse receipts as collateral se- curity. | Sec. 6. (a) The Secretary of Agricul- | ture is hereby authorized and directed to enter into contracts with the pro- | ducers of cotton to sell to any such pro- ducer an amount of cotton equivalent in | amount to the amount of reduction in production of cotton by such producer | below the amount produced by him in | the preceding crop year, in all cases | where such producer agrees in writing | to reduce the amount of cotton preduced by him in 1923, below his production in | the previous year, by not less than 30 per centum, without increase in com- mercial fertilization per acre. (b) To any such producer so sgree-} ing to reduce production the Secretary | of Agriculture shall deliver a non-trans- ferable option contract agreeing to sell to said producer an amount of cotton equivalent to the amount of his esti- mated reduction of the cotton in the possession and control of the Secretary. (c) The producer is to have the op- tion to buy said cotton at the average price paid by the Secretary for the cot- ton procured under section 3, and is to have the right at any time up to Janu- ary 1, 1934, to exercise his option, upon proof that he has complied with his contract and with all the rules and regulations of the Secretary of Agricul- ture with respect thereto. by taking said cotton upon payment by him of his option price and all actual carrying charges on such cotton: or the Secretary may sell such cotton for the account df such producer, paying him the excess of the market price at the date of sale over the market price at the date of his contract after deducting all actual and nccessary carrying charges: Provided, ‘held responsible or liable for financial loss incurred in the holding of such cotton or on account of the carrying charges therein: Provided further, That duction shall contain a further provision that such cotton producer shall not use the land taken out of cotton production for the production for sale, directly or indirectly, of any other nationally pro- duced agricultural commodity or product, Sec. 7. The Secretary shall sell the cotton held by him 2t his discretion: Provided, That he shall dispose of all cotton held by him by March 1, 1935: Provided further, That he is authorized to sell unlimited amounts, at any time & price equivalent to not less than 10 cents basis middling s:ven-eighths-inch staple at the ports can be procured. Title TI—Agricultural Adjustment . visions. General Powers. “Sec. 8. In order to effectuate the de- clared policy, the Secretary of Agricul- ture shall have power: (1) To provide for reduction in the path, but I tell you with equal frank- ness that an unprecedented condi- tion calls for the trial of new means to rescue agriculture. If a fair ad- ministrative trial of it is made and it does not produce the hoped-for re- sults I shall be the first to acknowl- edg it and advise you. The proposed legislation is neces- sary now for the simple reason that the Spring crops will soon be planted and if we wait for another month or six weeks the effect o{x the prices of this year's crops will be wholly lost. Furthermore, by action at this time th. United States will be in a better position to discuss problems affecting world crop surpluses at ths proposed World Economic Confer- { DEATH HELD SUICIDE LONDON, March 17 (4).—A coroner’s Jury inquiring into the death last ‘Wednesday of Anny Ahlers, the actress, delivered a verdict today of suicide while of unsound mind. v Miss Ahlers, who was playing “The Du Barry,” died after falling from her second-floor bed room window. It was said she had been walking in her sleep, bu: the jury found she had jumped faom the window. She was 26. acreage or reduction in production for market, or both, of any basic agricul- tural commodity, through agreements with producers or ctherwise, and to pro- vide for rental or benefit payments in connection therewith in such amounts 2s the Sccretary deems fair and reason- able, to be paid out of any moneys avail- able for such payments. (2) To enter into marketing agree- ments with processors, associations of producers and other agencies engaged in the handling, in the current of inter- state or foreign commerce, of any agri- cultural commodity or product thereof, after due notice and opportunity for hearing to interested parties. For the purpose of carrying out any such agree- ment the parties thereto shall be elig- ible for loans from the Reconstruction Finance Corporation under section 5 of th: Reconstruction Finance Corporation act. Such loans shall not be in excess of such amounts as may be authorized by the agreements and shall bear in- terest at the rate of 3 per centum per annum. (3) To issue licenses permitting proc- essors, assoclations of producers and other agencies to engage in the han- dling in the current of interstate or foreign commerce, of any basic agricul- tural commodity or product thereof, or any competing agricultural commodity or product thereof. Such licenses shall be subject to such terms and conditions, not in conflict with existing ats of Con- gress or regulations pursuant thereto, derived therefrom, which is returned to | tion and due notice and opportunity for the farmer, above the percentage which | hearing to interested parties, finds at |such officers and employes as are nec- ‘That in no event shall the producer be | such agreement to curtail cotton pro- | Purchasing Power. as may be necessary to eliminate un- fair practices or charges that prevent or tend to prevent the effectuation of the declared policy and the restoration of normal economic conditions in the marketing of such commodities or pro- ducts and the financing thereof. The Secretary of Agriculture may suspend or revoke any such license, after due notice and opportunity for hearing, for violations of the terms or conditions thereof. Any agency engaged in such handling without a license as required by the secretary under this section shall be subject to a fine of not more than $1,000 for each day during which the violation continues. (4) To require any licensee under this section to furnish such reports as to quantities of agricultural commodi- ties or products thereof bought and sold and the prices thereof, and as-to trade prActices and charges, and to keep such systems of accounts, as may be necessary for the purpose of this act. Processing Tax. Sec. 9 () To raise revenues for the payment of extraordinary expenditures incurred by reason of the national eco- nomic emergency there shall be levied, assessed and collected during any mar- | keting period for any basic agricultural commodity with respect to the produc- tion of which for such period rental or benefit payments are made under this act, a tax to be pald by the processor on the first domestic processing of the commodity, whether of domestic pro- duction or imported. Such tax shall, except as hereinafter provided, equal the difference between the current av- erage farm price for the commodity, and the fair exchange value of the commodity. Such value for any “com- | modity shall be the price therefor which | will give the commodity the same pur- | chasing power, with respect to articles | farmers buy, as during the pre-war pe- riod, August, 1909-July, 1914. The cur- rent average farm price and the fair exchange value shall be ascertained by | the Secretary of Agriculture from avail- able statistics -of the Department of Agriculture. (b) If the Secretary, after investiga- | any time that the imposition of the tax at the rate hereinbefore provided has resulted or is likely to result in a sub- stantial reduction in the quantity of the commodity or products thereof do- | mestically consumed, he shall fix such lower rate as is necessary to maintain or restore such domestic consumption. Such rate may be revised from time to time pursuant to further findings under | this subsection. In making any such finding the Secretary shall give due con- sideration to the following factors among others: (1) Reports ployment and regions. (2) Changes in the consumption of | the agricultural commodity and of other | commodities. | (3) Evidence derived frcm statistical studies of supply and demand for pre- vious periods, which indicate the change | in consumption of the commodity which | would normally occur in consequence | of a particular change in the cost to ProCessors Or Consumers. (4) Other relevant data as to changes in the cost of living of consumers, con- sumers’ buying habits, and current and prospective conditions in industry per- | tinent to determining the probable ef- fective demand for the commodity. (¢) The Secretary of Agriculture shall certify to the Secretary of the Treasury from time to time the rate of tax in effect for any commodity under this act. as to wage scales, em- | unemployment in urbm} Miscellaneous. Sec. 10 (a) The Secretary of Agri-| culture may appoint such experts, and, in accordance with the classification act | of 1923 and all acts amendatory thereof, and subject to the Civil Service laws, essary to execute the functions vested in him under this act: Provided, That no salary in excess of $7,500 per annum shall be paid to more than 10 additional officers or employes of the Emergency. Agricultural Adjustment Administra- tion which the Secretary shall estab- lish in the Department of Agriculture for the administration of the functions vested In him by this act. (b) The Secretary of Agriculture is authorized to establish, for the more effective administration of the func- tions vested in him by this act, State |and local committees, or associations | of producers, and to permit co-operative | associations of producers, when in his judgment they are qualified to do so, to act as agents of their members and patrons in connection with the distri- | bution of rental or benefit payments. | (c) The Secretary of Agriculture is | authorized with the approval of the President, to make such regulations | with the—force and effect of law, as | may be necessary to carry out the pow- | ers vested in him by this act. Any vio- |lation of any regulation shall be sub- ject to such penalty, not in excess of 1 $100, as may be provided therein. |~ (d) The Secretary of the Treasury is | authorized to make such regulations as may be necessary to carry out the pow- | ers vested in him by this act, includ- | ing regulations establishing conversion | factors for any commodity and article iprocesued therefrom to determine the |amount of tax or duty imposed with | respect thereto. | (e) The action of any officer, em- | ploye, or agent in determining the | amount of and in making any rental or | benefit payment shall not be subject |to review by any officer of the Gov- ernment other than the Secretary of Agriculture or Secretary of the Treas- ury. (1) Except as provided in section 20, the provisions of this act shall be applicable to the United States and its possessions, except the Philippine Is- lands, the Virgin Islands, American Samoa and the Island of Guam. Commodities. Sec. 11. As used in this act, the term “basic agricultural commodity” means wheat, cotton, corn, hogs, cattle, sheep, rice, tobacco and milk and its lucts, and any regional or market ciassifica- tion, type or grade thereof; but the Secretary of Agriculture shall exclude from the operation-of the provisions of this act, during any period, any such commodity or classification, type, or grade thereof if he finds, upon inves- tigation at any time and.after due no- tice and opportunity for hearing to in- terested parties, that the conditions of production, marketing and consumption are such that during such period this act cannot be effectively administered to the end of effectuating the declared policy with respect to such commodity or classification, type or grade thereof. Appropriation. Sec. “12 (a) The proceeds derived from taxes imposed under this act are hereby appropriated to be available to the Secretary of Agriculture for rental and benefit payments and administra- tive expenses including refunds under this act. (b) The Secretary of Agriculture and |the Secretary of the Treasury shall jointly estimate from time to time the amounts currently required for such panyments and expenses, and the Secs retary of the Treasury shall advance to the Secretary of ulture the amounts so estimated. amount of such advance shall be deducted from such funds as subsequently become available under subsection (a). (c) The Secretary of chall transfer to the Treasury ment and is authorized to transfer to other agencies, out of funds available under this section, such sums as are re- quired to pay administration expenses incurred and refunds made by such de- partment or agencies in the administrar tion of this act. Sec. 13. This act shall cease to be finds nomic emergency in relation to agricul- ture has been ended; and pending such time the President shall by proclama- tion terminate with respect to any basic agricultural commodity such provisions | any of this act as he finds are not requisite to carrying out the declared policy with respect of such commodity. The Secre- tary of Agriculture shall make such in- vestigations and reports thereon to the President as may be necessary to aid him in executing this section. Sec. 14. If any provision of this act i3 declared unconstitutional, or the ap- plicability thereof to any person, circum- stance, or commodity is held invalid the validity of the remainder of this act and the applicability thereof to other persons, circumstances, or commodities shall not be affected thereby. Supplementary Revenue Provisions. Sec. 15. (a) If the Secretary cf Agri- culture finds, upon investigation at any time and after due notice and oppor- tunity for hearing to interested parties, that any class of products of any com- modity is of such low value compared with the quantity of the commodity used for their manufacture that the imposition of the processing tax would prevent in whole or in large part the use of the commodity in the manu- facture of such products and thereby substantially reduce consumption and increase the surplus of the commodity, then the Secretary of Agriculture shall 50 certify to the Secretary of the Treas- ury, and the Secretary of the Treasury shall abate or refund any processing tax thereafter imposed with respect to such amovnt of the commodity as is used in the manufacture of such products. (b) No tax shall be required to be paid on the processing of any commod- ity by the producer thereon on his own premises for consumption by hig own family, employes or household. (c) Any person delivering any prod- uet to any unemployment relief organ- ization for charitable distribution or use shall, if such product or the commodity | from which processed, is under this act subject to tax, be entitled to a refund of the amount of any tax paid with re- spect to such product or commodity. (d) The Secretary of Agriculture shall ascertain from time to time whether the payment of the processing tax upon any basic agricultural com- modity is causing or will cause to the processors thereof disadvantages in competition from competing agricu)- tural commodities by reason of exces- sive spifts in consumption between such commodities or products thereof. If the Secretary of Agriculture finds, after in- vestigation and due notice and oppor- tunity for hearing to interested parties, that such disadvantages in competition exist, or will exist, he shall proclaim such finding. The Secretary shall specify in this proclamation the com- peting agricultural commofiity and the compensating rate of tax on the pro- cessing thereof necessary to prevent such disadvantages in competition. Thereafter there shall be levied, assess- ed and collected upon the first domestic processing of such competing ‘agricul- tural commodity a tax, to be paid by the processor, at the rate specified, until such rate is altered pursuant to a further finding under this section, or the tax or rate thereof on the basic agricultural commodity is altered or terminated. In no case shall the tax imposed upon such competing agricul- tural commodity exceed that mposed per like unit upon the basic agricultural commodity. The term “competing agri- cuitural commodity” shall include, among others, rayon, silk, linen, and oleomarg- arine, and any basic agricultural com- modity as to which a tax is not in effect under section 9. Floor Stocks, Sec. 16. (a) Upon the sale or other | disposition of any article processed wholly or in chief value from any com- | modity with respect to which a pro- cessing tax is to be levied, that on the | date the tax first takes effect or wholly terminates with t to the com- modity, is held for sale or other disposi- tion (including articles in transit) by any person other than a consumer or a person engaged solely in retail trade, there shall be made a tax adjustment as follows: (1) Whenever the processing tax first takes effect, tiere shall be levied, as- | sessed and collected a tax to be paid by such” person equivalent to the amount of the processing tax which would be payable with respect to the commodity D. mm! modity from which processed. (b) Notwithstandihg the subsection (a), such respect to or otherwise disposed of for consum tion within one month after such date. Exportations. Sec. 17. (a) Upon the tion to forelgn coun (including the Philippine Islands, American Samoa and which a tax has peen paid under this act, or of any product processed wholly or in chief value from & commodity with respect to which a tax has been paid under this act, the exporter thereof shall be entitled at the time of exporta- tion to a refund of the amount of such tax. (b) Upon the giving of satisfactory bond for the faithful observance of the provisions of this act requiring the pay- ment of taxes, any person shall be en- titled, without payment of the tax, to process for such exportation any com= modity with respect to which a tax is imposed by this act, or to hold for such exportation any article processed wholly or in chief value therefrom. Existing Centracts. Sec. 18. (a) If (1) any processor, job- ber or wholesaler has, prior to the date of approval of this act, made a bona | fide contract of sale for delivery after | such date of any article in respect of which a tax is imposed under this act, | and if (2) such contract does not permit | the addition to the amount to be paid thereunder of the whole of such tax, then (unless thie contract prohibits such | addition) the vendee shall pay so much |of the tax as is not permitted to be added to. the contract price. (b) Taxes payable by the vendee shall be paid to the vendor at the time the sale is consummated and shall be col- lected and paid to the United States by | the vendor in the same manner as other | taxes under this act’ In case of faijure {or refusal by the vendee to pay such | taxes to the vendor, the vendor shall re- port the facts to the Commissioner of. | Internal Revenue who shall cause col- | lections of such taxes to be made from | the vendee. i Collection of Taxes. Sec. 19. (a) The taxes provided in this act shall be collected by the Bureau of Internal Revenue under the direction of the ‘:efirebm'lry of the . Such taxes shal paid into the Treasury of the United States. (b) All provisions of law, including | penalties, applicable with respect to the taxes imposed by section 600 of the | revenue act of 1926, and the provisions | of section 626 of the revenue act of 1932, shall, in so far as applicable and not inconsistent with the provisions of this act, be applicable in respect of taxes imposed by this act. Provided, That | the Secretary of the Treasury is author- |ized to permit postponement, for a period not exceeding 60 days, of the | payment of taxes covered by any return under this act. (c) In order that the payment of taxes under this act may not impose any immediate undue financial burden upon processors, any processor subject to such taxes shall be eligible for loans | from the Reconstruction Finance Cor- | poration .under section 5 of the Recon- | struction Finance Corporation act. Compensating Duties. Sec. 20. (a) During any period for | which a processing tax is in effect with | | respect to any commodity there shall be | levied, assessed, collected and paid upon | | the importation, from any foreign country into the United States of goods processed or manufactured wholly or in chief value from such commodity which, | if domestically processed, would be sub- Ject to & processing tax. a duty equal to | the amount of the tax which would be payable with respect to such domestic ;proceasing at the time of importation. Such duty shall be in addition to any ‘om;r g;;:y xflmupmed by law. (b) e duties imposed this sec- tion shall be levied, lmu:dy, collected and paid in the same manner as duties imposed by the tariff act of 1930, and shall be treated, for the purpose of all provisions of the law relating to the | customs revenue, as duties imposed by such act. |..(c) As used in this section the term | “United States” means the United | States 2nd its possessions, except the ‘Pmllpplne Islands, the Virgin Islands, | American Samoa and the Island of | Guam. o -— French Loan Subseribed. PARIS, March 17 () —Finance Min- ster Georges Bonnet announced that a loan of 3,000,000,000 francs (approxi- | mately $120,000,000) which went on | sale Monday has been subscribed. | | | FF-the-face was an made it a style . . @ WASHINGTON'S FINEST MEN'S WEAR STORE o expression until Knox . a style that looks UP inthenpifitofd:eNewDed...mdwKnox has set the American standards in Hat style for 95 years . . . see the new Spring models today or tomorrow. am $7 $10 $20 @ CHARGE ACCOUNTS INVITED o RALEIGH HABERDASHER in effect whenever the President and proclaims that the national eco- 1310 F Street l FRIDAY, MARCH 17, 193 o wonder it looks li]ee‘ another Inaugural Parade at the Raleigh! Finar Satre! HART SCHAFFNER & MARX AND RALEIGH SUITS and TOPCOATS Originally $35, $31 and $25 1685 AND STILL NO CHARGE FOR ALTERATIONS AVE you seen the crowds pouring into the Raleigh Haberdasher? . . . No wonder . . . $16.85 for fine Hart Schaffner & Marx and Raleigh Suits and Topcoats . . . even for a Clearance Sale, it’s an all-time record LOW price at this store « « « just because new Spring merchandise is coming in . . . and ours is a strict policy never to carry stocks over from one season to another . . . Assortments are broken, of course, but every style and fabric is up to the minute . . . and every size and model is to be had in one fabric or another . . . What an opportunity to stock up at a price that may never be duplicated again. Further Reductions: $40, $38 & $35 Suits & Topcoats $50, $45 & $40 Suits & Topcoats $60, $55 & $50 Suits & Topcoats Closing Out Entire Stock of OVERCOATS $31 & $25 Overcoats $40 & $35 Overcoats $50 & $45 Overcoats $60 & $55 Overcoats $14 - 821 Final Sale! $5 and $3.50 Final Sale! Final Sale! Raleigh “8” $1.65 to $2.25 SHOES SHIRTS $ $114 Use Your Charge Account Here, or Open One Now! All responsible men and women are cordially invited to open g Charge Account at this store. You may pay in 30 days, or use our Extended Payment Plan—4 months to pay—no down payment—and no interest charges. ¢ WASHINGTON'S FINEST MEN’S WEAR STORE ¢ 1310 F Strget 2 RALEIGH HABERDASHER