Evening Star Newspaper, August 15, 1937, Page 20

B—4 - x LS. CONSIDERING NEWPLANONGOLD Proposed System May In- volve Higher Taxes on Foreign Investments. B7 the Associated Press. Federal monetary authorities dis- closed yesterday they are considering replacing the gold sterilization pro- gram with new machinery to cushion domestic credit against gold move- ments. The proposed system, they said, may involve higher taxes on foreign in- vestments here and a requirement that banks “freeze” a large portion of foreign deposits as additional reserves. Under the present sterilization pro- gram. the Treasury borrows from the maney market to pay for gold acquisi- tions. This removes from the supply of lendable money sums equal to those put in by gold imports, and keeps the credit supply even. Issuance of Currency. Formerly, the Treasury paid for gold acquisitions through the issuance of currency against the gold. This tended to swell the supply of lendable money, and crea‘ed concern among | some authorities that a harmful credit | inflation might develop. The arrange- | ment would be resumed, however, if the new plan were inaugurated. About $1,265,000,000 of gold already has been sterilized under the existing program, which was started last De- cember. The plan has been criticized on the ground that it increases the public debt and Government interest requirements. If the new arrangement should be effected, officials said, the gold already sterilized would be left in its separate fund, to be used only to meet demands for gold exports. The money paid for shipments of gold then would be ap- plied to reduction of the debt. cratic nomination for Mayor of his method of campaigning for votes. jrom house to house, and if the be of Italian descent, he plays an Italian air. includes Polish and Hungarian pieces. THE SUNDAY STAR, WASHINGTON, D.- C, AUGUST 15, - 1937—PART ONE. Fiddles for Votes ician, who is seeking the Demo- Ravenna, Ohio, demonstrating Playing a violin, he goes housewife looks as if she might His repertoire also —Wide World Photo. Understanding on Gold. Authorities said some international understanding on gold movements probably would be sought before any new system was started. They said the Treasury would take no action in- dependently which might upset world monetary and financial relationships. Because gold movements represent transfers of capital from one coun- try to another, officials said a heavier | tax on foreign investments here would tend to discourage speculative security buying and thus would prevent sud- den shifts of gold. Foreigners now pay a 10 per cent tax on income from investments in this country. — RIVERDALE BUILDING AHEAD OF SCHEDULE Municipal Structure to House Fire Department, Auditorium and Council Chamber. Brecial Dispatch to The Star. RIVERDALE. Md., August 14 —Riv- erdale’s new municipal building is nearing completion ahead of the speci- fled time allowed in the bids. The building will not only house the Council and the Fire Department, but has a large auditorium, which is being fully equipped. The approximate cost of the project is $15,000 and the build- ing is being constructed by George E. Locknane under a P. W. A. aid grant. The Council and Fire Department are planning a dedication ceremony, to be held early in September, according to Mayor William C. Wedding, who is | heading the Committee on Arrange- | ments. G. 0. P. IN FAIRFAX | ern scientific process. GOLD RECOVERED BY NEW PROCES Plant Retrieves Up to 95%, of Metal Discovered in Deposits. By the Associatec Press. MINOT, N. Dak, August 14 —Pay dirt, dumped in Western North Da- kota by Mother Nature during her glacial push ages ago, is giving up gold in paying amounts through mod- | A newly patented gold recovering | procedure, discovered by M. D. Kroll, | Billings, Mont.,, mining engineer, 15‘ being utilized by a syndicate of North Dakota businessmen in retrieving the flour-like metal said by mining men | to be abundant in the western sec- tion of the State. Found in great quantities of gravel and sand, several gofd “buttons” have been produced by the plant since January, when activities to recover the precious metal started. 95 Per Cent Recovered. The plant, by means of an electro- | amalgamation process invented by Kroll, recovers, experimental engi- | neers said, up to 95 per cent of the flour or medium fine gold found in the deposits. Concentrated sands and soils from gravel pit sluiceways, as well as sifted TONAME CANDIDATE S REN | Convention Monday Also Will| Choose Delegates to Rich- mond Session. Epecial Dispatch to The Star. FAIRFAX, Va., August 14.—Repub- licans of Fairfax County will hold a mass convention in the court house Monday night to elect delegates to the State Republican Convention, Dr. F. M. Brooks, chairman of the County Central Committee, announced. The county will be entitled to 32 delegates at the Richmond convention, which will be held August 28, and in addition 32 alternates also will be chosen at the meeting. Another important matter to come before local Republicans at the meeting Monday will be the nomina- tion of a candidate for the House of Delegates to be voted on at the gen- eral election in November. The Dele- | gate race is the only local one involved | in November. FREDERICK AWAITS TAX RATE DECISION Mayor and Council to Make Ver- dict August 30 on Boost Above 95 Cents. By the Associated Press. FREDERICK, Md, August 14.— Frederick'’s Mayor and City Council | will decide on August 30 whether this | city's tax rate, below the dollar mark since 1932, must be raised. | City Register Louis E. Eichelberger | now is preparing the municipal budget for the tax year beginning Septem- ber 1. Mayor Lloyd C. Culler set the last of the month for its considera- tion. Mayor Culler declined comment as to the chance of a boost in the tax rate, which now stands at 95 cents on the $100. Residents forecast an increase, how- ever, because of a rise in debt service resulting from the issuance of sewer bonds and the cost of operating the ecity sewerage system. Eichelberger reported increased tax collections served to put the city in the best cash position in its history on June 16, when the fiscal year ended. The cash balance then was $43,994—double the balance on hand at the end of the previous fiscal year. EDITH WHARTON BURIED | VERSAILLES, France, August 1 (#)—Edith Wharton, who was one of the worlds most distinguished American-born novelists, was buried here today in the Protestant ceme- tery. Many French and American friends, Including a representative of United States Ambassador William Bullitt, sttended the simple ceremony. Mrs. Wharton died Wednesday at the age of 75 in her chateau near Saint Brice Sous Foreta 8he had lived in France for 35 years. | through an | gamator. bank run materials, are trucked to the Minot plant, where it is run electro-chemical amal- | 3 grams was produced from 91 cubic yards of bank-run gravel, well beyond, Kroll said, the minimum at which gold can be recovered on a com- mercially profitable process here—or an average of approximately 42 cents per cubic prices. After its trip through the electro- chemical amalgamator, the concen- trated materials are washed by a sodi- um hydroxide or sodium cyanide solu- tion and then brought into contact One “button™ weighing 1 ounce a.nd1 yard under present mld; ‘delegates at large, 2. with electrically charged mercury- dressed copper plates. Next, the copper plates are scraped | of their gold-mercury amalgum. Heated, the mercury, having a low vaporizing point, boils off pure gold remains in the retort. Molded into “buttons,” the rich- ness of the deposits from which the precious metal was taken is deter- mined by the gold “‘button” and the concentrate used to produce it. Material is being handled at the | rate of 800 cubic yards a day by the Last Chance Mining Co. which has leased use of the Kroll invention from the North Dakota Mineral De- velopment Syndicate, holder of the State rights to the process, {ARLINGTON REPUBLICANS’ |TO NOMINATE DELEGATE County Convention Also Will Choose Representatives to Session at Richmond. By a Staff Correspondent of The Star. ARLINGTON, Va., August meeting of Republican voters of Ar- lington County to nominate a candi- date for the General Assembly has been called for August 25 at the Lyon Park Community House at 8 pm, Grayson Ahalt, chairman of the Ar- lington County Republican Executive Committee, announced today. Another purpose of the gathering is to nominate delegates to attend the State Convention at Richmond August 28. legates and alternates to attend the convention will be elected as fol- lows: Arlington, 7: Baliston, 6; Cher- rydale. 7; Clarendon No. 1, 5 don No. 2, 8; East Falls Church, 2; Glendarlyn, 1: Lyon Park, 5; ginia Highlands, 5: A Bl ok Sea Casts Up Gems. Many precious stones have been cast up by the sea at Haga-Haga, a beach 30 miles from East Haga, South Africa. Campers digging in the sand have unearthed rubies, a bloodstone, an amethyst, also corneal beads and ancient china. The treasure is believed to have come from an old chest which has been wedged in the rocks for many years. At low tide the chest is visible, but owing to violent currents it can- not be salved. g VAN L CHRYSLER OW NERS ECONOMY DEPENDS ON SPARK PLUGS Follow your factory engineers’ ~ [YOU ca | N DEPEND o CHAMPIONS suggestion by changing spark plugs every 10,000 miles. New Champions quickly save their cost in renewed economy, power, speed and dependability. Have new Champions installed by your local dealer today. CHAMPION THE SPARK PLUGS [ CHAMPIONS USE and the | comparison of weights of | 14—A ; Claren- | Vir- | Rosslyn, 3, and Powerful searchlights limned the fleeting planes against the night sky. Anti-sircraft artillery spewed a deadly fire. The “battle” was the climactic act in the war show produced by the 33d BIG GUNS SHAKE CHICAGO IN-‘GUARD’S WAR SHOW BY the Associated Press, OHICAGO, August 14.—The roar of 3:;1?;1 Suns shook Chicago's front yard | pyyision, Titnots National Guard, but Air raiders swooped down on the |t afforded neck-craning thousands lake front sector in s mass attack.!in the Soldier Feld Suadium g realistic impression of the bombardment of far-off Shanghai. In the raiding force were 21 Na- tional Guard planes from Illinois, Wis- oonsin, Indiana and Michigan Ob- servation Squadrons, ¥ The spectators also witnessed small- scale simulations of the Fort Dearborn massacre and the Argonne battle and enjoyed a view of the high-speed com- bat cars, armored and transport-cargo cars from Fort Knox, Ky. The spectacle will be presented again tomorrow night. Declaring its tests of rubber pave- ments successful, the City Council of Moscow, Russia, is considering rubber paving the streets of a large section of the city. HOUSE AND HERRMANN Huxley’s “Condemned Cell.” Huxley, the famous Enmglish evolu- tionist of the last century, had a Queer collection of more or less obso- lete books on philosophy and theology which he kept In what he called his “Condemned Cell,” to read so that he might know what men of obscurantist type had to say for themselves. — Our August Sale this year includes the smartest Furniture of Merit that we have ever shown at savings that will make a visit to our store very much worth your while. Purchases made during the sale may be held for later delivery if you wish. Come in and see for yourself—come in and save. CONVENIENT TERMS 4-Piece Moderne B;droom We are proud to present this new creation in Moderne. Its rich Burl Walnut Veneers, its superb styling with rounded tops and extended hardware will thrill you and its sturdy construction will give you satisfaction for a lifetime. August Sale Price 10-Piece Moderne Dining Room Suite August Sale Price, %139 Dress up your Dining Room with this new type of suite. It is well constructed of burl and matched walnut veneers over gumwood. The waterfall fronts and neatly reeded posts are delightful to the eye. The six-legged table makes for easy seat- ing, and the sturdy slip-seat chairs give comfort while seated. 2-Piece Moderne Living Room Suite August Sale Price, *149 A suite that is as well constructed as it is appealing. Its deep roll back, wide square arms and round- ed front cushions will add that certain touch to your living room. Upholstered in “Kinkistrie,” an attractive 1007 mohair fabric, which is guaranteed for five years against moth protection. FOSTER BED O UTF I T—Desirable poster bed in full or twin sise. Complete with comfortable mattress and coil spring. Sale Price___ SIMMONS INNER - SPRING MAT- TRESS—Covered in heavy woven stripe STUDIO COUCH—covered in rust, green or brown homespun. Innerspring mat- tress on coil spring base. $24.95 August Sale Price. CLUB CHAIR—BUilt for solid comfort and relaxation. Covered with durable friezette. OCCASIONAL CHAIR—Graceful style with turned legs and stretcher. Uphol- stered in attractive tapestry. 95 $4- August Sale Price OAK BREAKFAST S UITE—Sturdy drep-léaf table and four Windsor style chairs. August Sale $|4.50 MODERN END TABLE—Walnut and gumwood with hand-rubbed $4 95 finish. August Sale Price.. . MODERN COFFEE TABLE—Walnut and gumwood with remov- able glass tray. August Sale $7 75 LIFT-TOP CONSOLE TABLE—A turn of the top and it makes a dinette or card table. WINTHROP SECRETARY—PFour- drawer desk with lock on each. Wal- nut or mahogany and gumwood. DROP-LEAF TABLE—Duncan Phyfe style. Bolid gumwood in walnut or mahogany finish. August $Il 50 Bale Price. o Refleetor Lamp—S8ix-way type for direct or indirect lighting. Extra heavy an- tique ivory base and pleated $6 95 silk shade . HOUSE ¢:HERRMANN 7th and Eye Sts. N.W. “Furniture of Merit” Since 1885 Exclusive OSTERMOOR MATTRESS Dealer 8433-35 Georgia Ave. N.W.