Evening Star Newspaper, July 2, 1936, Page 4

INTERORBULDING CLANSATHVICTI Stone Fitter Crnicélly Hurt in 20-Foot Fall From Scaffolding. 3 The “jinx” that seems to’have at- tached itself to the new Iterior De- partment Building struck again today, bringing to four the number of se- rious accidents there since construc- tion started. William R. Robinson, 33, s stone fitter, was critically injured whea he fell 20 feet from a scaffolding. He was treated at Emergency Hospital for possible skull, arm and rib frac- tures. Robinson’s home is in Cleveland, but he had been living here at 1323 Clifton street. According to acquaintances at the Clifton street address, Robinson had expressed fear he might experience just such an accident as happened today. He told them he had been working next to a laborer who was killed in one of the two fatal accidents on the site. Shortly after the Interior Depart- ment accident, which happened on the Nineteenth street side of the site, Irving Hodgkinson, about 45, of Rockville, Md., fell through a glass roof over a loading platform at the Judd & Detweiler printing plant, Florida avenue and Eckington place northeast. Hodgkinson, who had been cleaning debris from a gutter, escaped being cut by glass, but X-rays revealed fractures of the back, wrist and foot. At Emergency Hospital, where he was taken after receiving first aid at the Union Market Compensation Clinic, his condition was termed serious. The “score.” to date, of serious ac- cidents on the new Interior Depart- ment construction site is as follows: April 22—A. Burcheil McGuire, stone mason, lost a foot by amputa- tion after it had been crushed by a falling stone. May 15—Louis Slimmer, laborer, died of crushed chest after a two- story plunge. May 6—Ralph Martin died of a fractured skull after being struck by & falling sione. DR. NORELLI IS NAMED TO PHARMACY BOARD | Appointed by Commissioners for Five-Year Term, Succeeding Dr. W. T. Kerfoot, Jr. Dr. Vincent B. Norelli, Washington pharmacist, yesterday became a mem- ber of the Board of Pharmacy of the District. He succeeds Dr. William T. Kerfoot, jr., who has been a member of the body for several years and whose term expired. Dr. Norelli was appointed for a five- year term by the District Commis sioners, acting on a recommendation to the Commissioners from the Phar- macists’ Society. BACOT RITES TODAY. Former Railroad Official to Be Buried in Richmond. Funeral services for Daniel Nor- borne Bacot, 57. president of Railroad Analyses, .Inc, and former assistant general manager of the Seaboard Air Line Railway, were to be held at 2 pm. today in Hollywood Cemetery, Richmond, Va. Mr. Bacot died Tuesday at his home, | 1316 New Hampshire avenue. After 27 years' service with the railroad, he established Railroad Analyses in Baltimore about four years ago and | came here about a year ago. He al®h had conducted his business in New “Never Late REV. CHARLES receives the gavel from Roland L |Gavel Presented First Clergyman By Rotary Club ‘Rev. Dr. C. T. Warner, | St. Alban’s Rector, and Others to Be Installed. The first clergyman ever to hold the presidency of the Washington | Rotary Club was inducted into office yesterday when, at a luncheon meet- | ing at the Willard Hotel, Rev. Charles T. Warner, rector of St. Alban's Parish, was presented the gavel that | goes with the post. Installation cere- monies for newly elected officers will | be held next week. Dr. Warner, a member of the club 22 years, has been vice president. He | succeeds Roland Whitehirst. Dr. Warner is, well known for his | work in organizing the Georgetown | Boys’ Club, when he was chairman i of the Rotary Club Boys’ Committee about five years ago. The organiza- | tion has since come under the head | of the Boys' Clubs of Washington. The clergyman, who has been at St. Alban's 25 years, was previously an attorney here. | SPECIAL JURY TO PROBE WIFE POISONING CHARGE | y the Assoctated Press. PALMYRA, Va, July 2—A Flu- vanna County farmer, Lester Rigsby, | yesterday was held for grand jury ac- | tion on charges that he tried to poison his wife despite defense protestations that he ate the same food by which | she claimed she was poisoned. His wife, Pear] Rigsby, insisted be- fore Trial Justice B. W. Seay that “some one tried to poison her” and | | said she felt il a number of times | after eating cornbread. A State chemist's report on corn- | meal obtained at the home was sub- It reported the meal | | mitted to Seay. ! contained poison. | The case was sent on to a special | grand jury, called to meet August 3, | and Rigsby remained at liberty under | bond of $1,500. for appointments” $22.50 Value for Only Yau’]l always be on time— and in style—uwith this late design ladies’ watch. Latest style rounded model, yellow goldfilled case with a guaranteed Jeweladjusted movement. Raised gold figures, dial and hands, PRESENTING THE 53-Piece Wm. A. Rogers Service for 8 This new Rockingham Desi; will add_distinction to Tour table. Guaranteed m. A, Rogers Pure Silver Overlaid in- sures in and let us show beautiful silver service Buy on u the easy terms., A $35 Value * Look ForThe Big Clock” you long service. Come this or eight. THE EVENING STAR, WASHINGTON, D. C, Rotary Gavel Changes Hands T. WARNER, Assuming the presidency of the Rotary Club, is shown as he Whitehurst, retiring president. —Star Staff Photo. Finances (Continued From First Page.) through the elimination of processing taxes. But revenue from other sources increased $716,000,000, a gain of 23 per cent, due in large part to im- provement in business and agriculiural conditions.” Income tax collections of about $1,- 500,000,000, an increase of 30 per cent | over 1935, and miscellaneous Internal Revenue collections of more than $2,- 000,000,000, an increase of 20 per cent, were reported, along with a 12 per cent rise in customs collections. Of the Nation’s $8,500,000,000 ex- | penditures, exclusive of debt retire- ment, Morgenthau reported “$3,500,- 000,000 was for ordinary operation of the Government,” and “approximately $3.300,000,000 was for recovery and | reliet.” Speaking in round numbers, Mor- genthau said that “leaving out of con- | sideration the payment to the veterans of $1,700,000,000, the excess of ex- penditures over receipts for the fiscal year just ended is $2,700,000,000.” When estimates for the year were prepared nearly two years ago, he said, a deficit of nearly $4,000,000,000 was expected. Taking inventory of “offsets against” the public debt, the Treasury chief listed. among other things, the general fund balance of $2,700.000,000 and the $2,000,000,000 stabilization fund which | he said will ultimately be used to retire ' a like amount of public debt. This stabilization fund was set up from| Treasury “profits” as a result of dollar | devaluation, to protect the dollar in| foreign exchange. It has remained intact, his report indicated. Text of Report. The text of Morgenthau's report follows: “Last night the Treasury closed its books for the fiscal year.1936, which includes the 12 months from July 1, 1935, to June 30, 1936. The Govern- ment has been operating during this period on a financial program laid down in the early months of 1935. “The stockholders of a business en- terprise are interested in having at the close of each business vear an account- | ing made to them by the financial ® & %« & MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION MORRIS PLAN BANK OF WASHINGTON The Urtorck fow e S officers of the company. It is customary to furnish them with facts and figures on the year's operations. The Govern- ment of the United States is your busi- ness. You are its stockholders, “Tonight I am going to report to you on the finances of the Government for the year just ended and give you the results. “The man who is responsible for the conduct of a business enterprise es- timates just before the new year begins what the expenses will be and what receipts he can reasonably expect. He then plans the year’s activities on the basis of these estimates. But the Gov- ernment, under the law, has to es- timate each Fall its receipts and ex- penditures for a fiscal year which will not begin until more than six months later. Thus, nearly two years ago, in the Fall of 1934, estimates were pre- pared for the fiscal year which began last July, and which ended last night. At that time, nearly two years ago, it looked as if our revenues would total Just under $4,000,000,000 and our ex- penditures, excluding debt retirement, ‘would amount to almost $8,000,000,000. On this basis we would have shown & net deficit for the year of almost $4,000,000,000. “You and I cannot always tell when we make our business plans what un- foreseen and extraordinary events may increase our expenses or reduce our revenues. The manufacturer whose plant is situated in a flood area may have his calculations upset by a dis- astrous flood. His income may be reduced. His expenditures may be increased. “The business of the Government also is subject to unforeseen and extraordinary events. Scarcely had the present Congress met last January ‘when two events completely changed the budget outlook. First, the pros- pective revenues were cut down as a result of the decision of the Supreme Court that the agricultural adjust- ment act was unconstitutional. This meant & loss to the Treasury in 1936 of nearly half a billion dollars. Second, prospective expenditures were in- creased by an act of Congress direct- ing the immediate payment of the veterans’ adjusted service certificates. ‘To provide for the payment of these certificates which, under their origi- nal terms were not due until 1945, increased by $1,700,000,000. “Let us see what the results were, $4,116,000,000 Receipts. ‘The actual receipts coming in to the Treasury during the year which ended last night aggregated $4,116,- 000,000. This is $316,000,000 more | than came in during the fiscal year | 1835,* notwithstanding the loss of | $444.000,000 through the elimination | of processing taxes. But revenue from | other sources increased $760.000,000, & gain of 23 per cent, due in large | part to improvement in business and | agricultural conditions. | “Our revenues come mainly from | two sources—income taxes and mis- | cellaneous internal revenue. Of the | income taxes corporation and individ- | ual income taxes amounted to nearly a billion and a half for the year that Jjust closed—an increase over 1935 |of 30 per cent. The miscellaneous | taxes brought in over two billion dol- lars—an increase of 20 per cent. | Customs receipts rose 12 per cent. | “We spent during the year $8,500.- excluding debt retirement. 000,000, Three and a half billion was for ordi- | nary operation of the Government. | Approximately $3,300,000,000 was for recovery and relief. | expenditured over receipts was $4,400,- 000,000. But leaving out of considera- tion the payment to veterans of $1,700,000,000, the excess of expendi- tures over reteipts for the fiscal year Just ended is $2,700,000,000. “As we have seen, ordinary opera- ments to veterans nearly $600,000,000; | Interest on the public debt another $750,000,000; ting expenses of the $900,000,000. the expenditure program for 1936 was | | | | | | | | THURSDAY, Submits Report Secretary Morgenthau, giving the Nation a report over the radio on the country’s finances. expenditures of $3,300,000,000 divided? ‘We expended for large permanent public works under the emergency program $800,000,000. Direct relief required just under $500,000,000. In addition we provided about $1,250,- 000,000 for work relief in the form of smaller public works, most of them of permanent value, and nearly $500,- 000,000 for C. C. C. camps. Aid to home owners and other miscellaneous expenditures took more than $250,- 000,000. “Two important facts stand out. On the one hand is an increase in Federal revenue. On the other is a decrease in Federal expenditures aside from the payment to veterans. Source of Money Spent. “As I have shown you, your Govern- ment spent $8,500,000,000 during the year which ended last night. We want you to know where the Treas- ury got this money. We had $1.800.- 000,000 cash in our general fund at the beginning of the year. Our rev- enue receipts were just over $4,000,- 000.000. The other $2,500,000,000 that we spent had to be borrowed. As a matter of fact we borrowed more than $5,000,000,000 net, but we have $2,700,000.000 left in our cash balance to meet the expenditures of coming months, including the redemption of the veterans’ bonds. “The business man takes inventory at the end of his business year. Let us do likewise. We have a gross pub- lic debt of $33,750,000.000. What have we in our inventory as offsets against JULY 2. 1936. this amount? We do not, as does the business man, include additions to our plant. Our public buildings, our other public works projects and our land acquisitions are treated as out- right expenditures and, while they are truly assets of the Government. they are not included in our financial statement. “The first of our cash assets is the general fund balance—the money we have In our cash drawer and on de- posit in the bank. The general fund e_yesterday was $2,700,000,000. The Government has another im- portant cash asset. It is the $2,000,- 000,000 stabilization fund, which will ultimately be used to retire a like amount of public debt. “In addition we have certain assets representing obligations due us upon which the Treasury will realize cash and which will ultimately be available for debt retirement. These recover- able assets—Iloens to homeowners, to farmers, to railroads, to banks and in- surance companies, to States and cities—now total more than $4,000,- 000,000. These three items—cash on hand, stabilization fund and recover- able loans—provide an offset of $8,- 750,000,000 to the $33,750,000,000 pub- lic debt. “An outstanding development in connection with the Government's financing during the past thiee years is the fact that we have rediced the average rate of interest neafly one- fourth. This reduction meansan an- nual saving of more than $28,000,- “The Government has led thé way in reduction of interest charges. e individual business man has been \ble to follow in the footsteps of his Gyv- ernment in reducing his own interigt charges and in refunding the debt & his own business. During the 1} months ended June 30, 1936, business, corporations registered with the Se- curities and Exchange Commission more than $2,500,000,000 of securities for the refunding of indebtedness. The approximate average reduction in the gross rate of interest paid by these private business corporations was 17 per cent, which would mean = saving to these corporations of mose than $30,000,000 a year in interest charges. “All of us have a vital interest in the fiscal affairs of our Government. We may derive real encouragement and satisfaction from these facts: Na- | tional income is rising; as a result Federal revenue is increasing, Federal expenditures are on the decline and the Nation's business is continuing to show steady improvement.” L) over the 4th! The net excess of | ting expenses accounted for $3,500,- | 000,000 of which National defense took $750,000,000; annual continuing pay- | agricultural aid $500,- 000,000, and the other ordinary opera- | Gevernment |/ | THE BRERKERS-PALM BEACH Wellknown attractions of The Briar- cliff Lodge are now doubly enjoyable through theaddition of The Breakers, Palm Beach, organization and atmos- phere. A complete resort—consider- ate rates—selected clieatele. THE BRIARCLIFF LODGE BRIARCLIFF MANOR, NEW YORK “How were the recovery and relief MRECTION JONN W. GREENE, CARTER L. GARDNER, RES. MR LEWIS W. POOLE DIES Buck Lodge Farmer Survived by ‘Widow and Adopted Daughter. Speciai Dispatch to The Star. BUCK LODGE, Md., July 2.—A long illness resulted in the death yes- terday of Lewis W. Poole, 67, one of the best-known farmers of this vicin- ity. He is survived by his widow, Mrs, Nettie W. Poole, formerly a Miss Nicholson of this county; an adopted daughter, Mrs. Maynard King of ‘Washington; three brothers, and three sisters. . Public works activities in Venezuela ary being expanded. | Follow young Jefferson Pope on "His First Day” out, selling the Whee! Electric Washer. A laugh with every ring of the doorbell . . . by the popular Everett Rhodes Castle. 64 HOLLYWOOD Read about the rise of Bette Davis, from impoverished dramatic student to winner of Hollywood's highest tal- ent award. Another of Jim Tully’s fascinating real-life stories of the stars. SEA TALES Sail the stormy seas with young Captain Farne, who defied the generations-old curse the Maiden Point had on his family—and won. A real thriller is “Fog," by Douglas Newton. [ 2] SERIALS We needn’t tell you not to mise the fifth exciting chap- ter of George Agnew Cham- berlain’s "Catuca.” Ifyou've 70 NE hundred and sixty years ago a group of determined men met in Philadelphia and signed a document to free this country forever from foreign oppression: By their act these United States became a nation of free and independent people. « « * Our heritage is the opportunity for personal independence. This is well expressed in the accumulation of the savings of thousands of individuals in this Bank. Declare your independence today . . . deter- mine to open a savings account here, where interest is compounded twice each year. « ey e WONDER AR-CONDITIONED WAY! 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CLOTHES LOVE AFFAIRS Ceme with Viola Paradise into the Merrill home, where young Ursula is frantically preparing to entertain the best boyfriend for dinner . . . and where the maid, the “kid brother,” Uncle Jasper, and a mongrel dog combine to make everything go wrong. Or rather right, in the end. 'BEAUTY HINTS Let Martha Leavittshow you how the fashionable screen stars make buttons, buckles, and other such gadgets work wonders with their costumes. [ 23 HOSTESS ARTICLES If you own a garden—no matter how small—don’t miss Emily Post’s article on garden parties. Here are many clever hints on how to make your party different from the general run of out- door entertainment. NEXT SUNDAY WITH ELINGE 818 F. STREET,N.W. 1012F S NW. 611 7¢h St. N.w.| The Sunday Biar Both Stores Open Until 9 P.M. Friday 4 A -