Evening Star Newspaper, March 24, 1937, Page 6

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Through a variety of lending agencies Federal funds regularly pour out to farmer and railroad president alike in sums ranging from less than a hundred to mil- lions of dollars. In the following story the Washington bureau of the Associated Press reviews the services of these agencies and the Junds they still may lend. Government financing agencies have today a potential lending power of $13,000,000,000. | A citizen may sit at a conference table and ask for millions to build | streamlined railroad trains or may file a brief application for a few | dollars to repair a flood-damaged | country store To farm borrowers the Govern- | ment makes a dozen kinds of loans, ranging from short-term crop ad- vances to long-term mortgage credit. In the upper bracket of the lend- ing mnetwork is the pioneer Recon- struction Corp., which has a finan- cial finger in a half dozen other agencies in addition to its direct | dealings with borrowers. Organized in January, 1932, and | subsequently expanded, the R. F. C. is listed with an unexpended balance of about $2,000,000,000. If it utilized full powers to issue obligations and reloaned expected repayments its | possible lending would reach close to $5,000,000.000. Has Broad Powers. The corporation has the broadest powers of any agency, lending to | railroads, commercial establishments, mines, fisheries, public schools and numerous other enterprises. In the agricultural field far-flung operations of the Land Bank sys- | tem, Land Bank commissioners and several short-term credit agencies are knit together under the Farm Credit Administration. If authority to issue securities were i utilized fully, these agencies could | pile up about $7,000,000,000 for loans | in addition to those outstanding. Offi- | cials do not contemplate that loan | demands ever will approach this figure, The Commodity Credit Corp, which draws on the R. F. C. for cash, could provide about $200,000,000 for financing carrying and orderly mar- | keting of commodities. For farm rehabilitation the Res tlement Administration has exhaust= | ed its lending fund for this fiscal ve: The recently enacted defi- ciency appropriation bill, however, gave the administration $79,000,000, part of which may be used for loans. The Home Loan Bank system and the Federal Housing Administration stand at the apex of the Govern- | ment’s home flnancing set-up. The R F. C. and the Public Works Ad- | ministration also participate in this ! field | 1 ‘ Direct F. H. A. Loans Ended. Direct loans by the Home Owners' | Loan Corporation have been discon- ' | tinued, but the bank system provides n important reservoir of credit for building and loan associations. The system now has $163,000,000 aval- | able for advanices, plus receipts from |any amount of securities issued | _No direct loans are made by the | F. H. A, but it may insure loans by | | banks and other institutions without limit. | The R. F. C. participates in home financing through its mortgage com- The P. W. A. makes direct loans and grants for slum clearance pany nts and loans are made by the P. W. A. for numerous public projects other than housing, and it still could | | advance about $470,000,000. Unless extended, however, the agency will | discontinue activities June 30. The Rural Electrification Adminis- | tration has $20,000,000 available dur- | ing the remainder of the fiscal year | to make advances for distribution | systems. The Electric Home and | | Farm Authority has unlimited power | ! to discount paper for purchasing ap- pliances. The Export-Import Bank, operated under the R. F. C, has $16,000,000 o help finance foreign trade in com- ' modities Another offshoot of the R. F. C.— | the newly created Disaster Loan | Corp.—has $20,000,000 for rehabili- { tation lending in the Midwest nood‘ | areas, C0A UARD DUE | TO CLOSE 21 POSTS | Virginia Stations Affected by Move to Meet “Modern | Conditions.” | BY the Associated Press. The Coast Guard today ordered | abandonment of 21 life-saving sta- | tions on Long Island, the Jersey and Virginia coasts. L Rear Admiral R. R. Waesche, com- | | | | s | mandant of the Coast Guard, said Sl al ¢Cruise-Voyages*® o CALIFORNIA: and MEXICO Rargost Ships—Fastest Schedules via HAVANA, the PANAMA CANALand ACAPULCO Sailing ,rom New York 8. S.VIRGINIA . . ....... Saturday, April 3rd 8. S. CALIFORNIA . Saturday, April 17th 8. S. PENNSYLVANIA . Saturday, May 1st Travel the Sunshine Route on modern, 33,000 ton liners specially designed for rooms. Air-conditioned dining rooms. Two outdoor pools on each sh Coast to Coast, 1st Class from $190 (From $225 at certain seasons) @ Special reductions round trip by steamer can management. United Sta Linea offer a sailing every Wednesday and Germany Bee your Travel Agent for details 743 l4th S Washington, D. C. tropical service. All rooms are outside thoughtilservice —perfectly grand cuisine. Tourist Cabin, $125 up YO ALL EUROPE under the same Ame: at noon to Ireland, England, France N.W the stations were being decommis- sioned to adjust life-saving work “to modern conditions.” He said the use of motor boats and radio has reduced the need for a closely-knit network of life-saving | stations. By decommissioning some stations, he said, others could be ‘ strengthened. | The following stations on Long Island were ordered abandoned: Smiths Point, Blue Point, Lone Hill, | | Point of Woods and Oak Island Beach. Those placed in an inactive status along the Jersey coast: Seabright, Long Branch, Deal. Bayhead, Monto- | Jokin, Island Beach, Harvey Cedars, Little Beach, Absecon, Pecks Beach, Sea Isle City, Avalon, Wildwood and | Cape May Point | | In the Norfolk division, Cape Hen- | | lopen and Wachapreague stations | were decommissioned. | Spain Sends Gifts. Appropriate ceremonies were held at Odessa, Russia, when 160 cases of oranges, tangerines and other fruit, a gift from the children of Spain to the boys and girls of Russia, were un- loaded. From Odessa have gone large shipments of foodstuffs and clothing for the women and children of that part of Spain in the hands of the loyalists. Yugoslavia is shipping more prod- ucts to other coi es than a year g0, THE EVENING As 10 Died in Island Rioting First photo to reach this country showing the bloody riots between police and Nationalists at Ponce, Puerto Rico, in which 10 persons were killed. The riots occurred when Nationalists tried to parade, demanding independence from the United States. Note dead policeman lying in gutter. alists. A policeman crouching behind the body of STAR, WASHINGTON, b 0., WEDNESDAY, MARCH 24, 1937. |GROSS NEGLIGENCE LAID By the Assoclate P FREDERICK, Md, March 24—A Frederick County coroner's jury held yesterday that Mrs. Kurtz E. Cu v mother of eight children, was killed | In an automobile accident as a result of the “gross negligence” of Garland E. Grams, Brunswick motorist Mrs. Culler was run down and fa- | tanly injured as she started to eross | the Jeflerson pike at Feagaville Sun- day night. State Policeman Walter | K. May testified at the inquest that | skid marks indicated Grams' car ‘Bsi traveling at approximately 58 miles an hour Grams testified he was driving be- tween 40 and 45 miles per hour tate’s Attorney Sherman P. Bow- ers announced after hearing the jury's | verdict that he would place a charge of manslaughter against Grams. CLE43111l0 COUCHES To met the increased demand for fine furniture at this low available inch of floor rental address, every space is needed. We are willing to sacrifice profits on our entire stock of studio out immediately. couches to close them Compare these bargains . . . ° STUDIO COUCHES $39.50 Formerly $49 to $69 High Riser Green friezette—3-cushion High Riser—Brown friezette—White edging High Riser—Rust friezette—3-cushion Brown and white plaid—3-cushion Blue Homespun with white edging Green and silver tapestry—3-cushion Brown and white tapestry—Rounded end cushions Brown friezette—3-cushion Green tapestry—A very popular make New Cotton Felt and Sisol Pad—Innerspring center in all above couches STUDIO ® COUCHES $20.50 Formerly $39 fo $59 Rust tapestry—3-cushion Combination rust and green friezette—3-cushion All couches can be used MAY WE ADD- as twin or full-sized beds BE PROMPT-OUR STOCK IS LIMITED “OPEN EVERY EVENING UNTIL 9 P.M. W. B. Moses & Co. Known for Fine Furniture Rhode Island | a slain Nationalist during the battle. El Mundo Photo, Copyright, A. P. Wirephoto. Photo shows police firing on Nation- SIT-DOWN STRIKE NS LECSLATURE | Missouri Republican Begins | ““Siege” on Diet of Bread and Water. BY the Associated Press. JEFFERSON CITY, Mo., March 24 | (#)—The chilly dawn breaking over Missour!’s domed capitol by the river awakened the State's first sit-down | striking legislator today on a bench in | a first-floor office. | A bit stiff from his first night's ex- | perience, 55-year-old Dr. J. A. Gray, Republican Representative from Atch- munched a piece of bread brought by his wife. | He left the bench, in the always open office of S{d Hamilton, commis- sloner of the permanent seat of gov- ernment, only long enough last night | to attend a legislative committee meet- | ing. Hamilton and others offered him easy chairs fo: the night but he de- clined. Dr. Gray, who claims the list sup- plied him by the State auditor was “erroneous,” assured “I've sat up with sick patients many a time and I can sit up with sick tax- | payers.” . | COLORS WILL DIRECT CORONATION THRONG ' | Signposts of Six Hues Will Guice | Ticket Holders to Specific ison County, stuck to his post—and a self-imposed bread and water diet. Puffing a cigar, the bespectacled physician sald he was quite serious | in his demands that he be supplied a | “complete list” of the employes on the General Assembly's pay roll. Dr. Gray contends the State constitution is| | being violated by the hiring of extra help. “A lot of people who are laughing | { &t me now will think different later | |on.” he assured. | Other members of the House— | Democratic by 105 to 45—voted him a | fishing pole and a container of gold fish so0 as to help pass the time. Rep- | | resentative Edwin Foerst, St. Louis, | said he would shop for the outfit to- | day | Last night, the “strike” drew many curious visitors to the capitol “Come on, doctor, and have a nice | juicy steak with me,” invited a friend The physician shook his head and Sections. By the Assaciated Press, LONDON, March 24— Scotland Yard, grappling with the problem of getting thousands of spectators to seats along the coronation procession | route, has evolved a “follow the color” | plan. | Windshield stickers in six colors will be issued for automobiles and one color allotted to each section of the 6-mile route. Motorists pouring into London May 12 will be greeted by police radio cars at strategic points, their loud speak- ers blaring such instructions as “Green straight thead, blue turn left, | brown second turn right.” Signposts in six colors will guide pedestrians to their seats A man with a blue ticket must follow blue arrows until he finds the blue section nders ue ticket Free Parking for Our Customers at Pratt’s Service Station, 22nd & M Sts. N.W. Mattresses are really new when we renovate them. We kill all germs, restore resiliency to felt or hair, cover with new ticking. The cost is only $5 and up. Send us your box springs and pillows, too, and we’ll renew their youth to suit your weight. The cost is small. Beds—Mattresses—Springs —Studio Couches | { i National 9410 1215 22nd St. N.W Base Ball Wins Africa. With the winning over of Rhodesia In a big way this season base ball has become a - big favorite throughout Africa. Bulawayo has received news that a Transvaal team, representing clubs playing in a Summer there, will shortly tour Rhodes Matabeleland Base Ball As has appointed a recept and the tour promis of ovations, league ia. The ciation ion committee S to be a series - IEBSRNSSME ORDER YOUR SUNDAY PAPER NOW—PHONE NATIONAL 5000