Evening Star Newspaper, December 21, 1934, Page 42

C—4 THE EVENING STAR, WASHINGTON, D. C, FRIDAY, DECEMBER 21, 1934, MISSING SAVINGS | MYSTIY EXPERT Brookings Survey Reveals Bank Accounts Gained From 1900 to 1930. By the Associated Press. The mystery of the “lost” savings is engaging the attention of economists. A survey conducted by the Brookings Institution indicates that in the 30- year period from 1900 to 1930 the per- centage of the national income which went into savings tended to increase. But where have these savings gone? Savings grew faster than expendi- tures for consumptive goods, but the gain apparently was not reflected in a corresponding increase of productive facilities. The Brookings survey shows that the amount of unutilized produc- tive capacity was relatively no larger in 1929 than at the turn of the century. ‘The problem of where the “excess money savings” go is being taken up in the course of a comprehensive study of the relationship between dis- tribution of wealth and income and the economic progress of the Nation. Capatity to Produce Studied. America’s capacity to produce was studied first. Contrary to many popular {deas, it was found that the aggregate practical capacity was only 19 per; cent more than that actually utilized in 1929. Even in that prosperous year, it was estimated that 16,200,000 families had incomes of less than $2,000. As it would have been necessary to operate the aggregate productive plant at full practical capacity—employing all available labor—to produce enough goods to raise these families merely to the $2,000 level, the Brookings econ- omists refused to believe that the Nation had an excessive productive capacity. These economists now have taken up the question of how money savings are transformed into capital goods through various mediums of invest- ment and their conclusions will (orm‘ the basis of the institution’s next re- | port on this complicated economic | problem. The entire study is expected to reach completion next Spring or Summer. Higher Incomes Gain. It has been found that the number of large incomes has tended to in- crease faster than the smaller ones, although there has been a general stepping-up all around. In 1929 there were three times as many incomes of $8,000 or more as there were $5000 incomes—the purchasing power equiv- alent—in 1910. Most of the savings is done by | families in the higher income brackets. | In 1929, the 16,200,000 families with | incomes of less than $2,000 saved a | total of only $250,000,000, whereas 219,000 with incomes above $20,000 | saved more than $8,000,000,000. ‘The upper 10 per cent of the families in the United States, including those with incomes above $4,600, made about 86 per cent of the savings. The second group, with incomes from $3,100 to $4,600 accounted for 12 per cent of the savings. The remainder, saved by 80 per cent of the population, amounted to only 2 per cent of the total. 0. E. S. OFFICERS NAMED Gaithersburg Chapter Mrs. Reed Worthy Matron. Special Dispatch to The Star. GAITHERSBURG, Md., December 21.—The following officers have been | Chooses Postmaster General Far- ley, as he shook hands Wednesday with Gladys Riley, one of the clerks in the Post Of- fice Depart- ment. After ertending Christmas greetings to t h e workers, Farley gave them the rest of the day off. Long lines of em- ployes filed through the office. —Star Stafr Photo. Navy Men Spend $1,000,000. Officials and men of the United| Hotel proprietors of Switzerland are States Navy are estimated to have |trying to attract more tourists by re- spent about $1,000,000 in Panama City | ducing rates, in some cases to un- durin the fleet’s last five-day visit. Farley Greets Workers Hotel Rates Reduced. profitable levels. ~ Practical Gifts from our OPTICAL DEPT. Field Glasses $s7.95 —Strongly built glasses, powered for outdoor use. A gift that will last for years. Complete with carrying case and strap. Opera Glasses $7.95 to $25.00 Microscopes g3 —A wonderful gift for boys and girls of a studious nature, Very sturdily built. Microscope Sets —Set consists of $4 95 microscope, specimen glasses, dissecting . needle, dropper, tweezers, sealing fluid, ete. Optical Dept.—Street Floor. OGDEN MILLS’ NIECE WEDS FRENCH COUNT Irish Gayety and Customs of France Evidenced at Double Ceremony. By the Assoclated Press. NEWTOWN FORBES. Irish Free State, December 21.—With the cus- toms of France and the gayety of Ireland, Lady Moira Mary Forbes and Comte Louis de Brantes were married today in two ceremonies. The first, in accordance with a French law, was a civil service; the second was the religious rite, per- formed by the Bishop of Addagh. Both in the Castle Forbes ‘the country roundabout was Lansburghs agog over the union of the Earl of Granard’s daughter and the Marquis de Brantes’ son. The 50 civic guards on duty had their hands full in keep- ing back the crowds. Lady Moira is a niece of Ogden L. Mills, former Secretary of the United States Treasury Department. Her mother is the former Miss Bea- trice Mills. Oysters Become Pineapples. CAMBRIDGE, Md. (#).—Opysters in these parts appear to be turning into “pineapples.” Four badly-corroded hand grenades (“pineapples”) were discovered in a consignment of oysters sent here by Patapsco River dredgers. Oystermen said they believed the grenades were “duds” tossed away near Edgewood Arsenal. FARMER CLAIMS WELL HAS YIELDED PANACEA Water Said to Be Good for Rheu- matism, as Auto Anti-Freeze and Snow Melter. BRAMPTON, Ontario, December 21 (®).—The well dug on his farm in hopes of striking oil, has instead produced mineral water which Charles Campbell claims to be both a cure for rheumatism and a worthwhile h'e:unz solution for automobile radi- ators. Also, says Campbell, he gave some to 8 horse which “went off its feed” and the animal regained its appetite. Sam McClure, a neighbor, he adds, uses the water to melt snow on side- walks, T™, 8™ end & Put WHEELS under him for a Merry Christmas Has large body, disc wheels, heavy rubber tires, steel underbraces and curved tubular handlebar. Finished in red or green. "American National” Velocipede Choice Full tubular construe- tion; adjustable saddle. Front wheel has ball- of 3 sizes, $3.95 bearing construction. 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