Evening Star Newspaper, April 26, 1940, Page 9

THE EVENING STAR, WASHINGTON, D; C, FRIDAY, APRIL 26, 1940. High Taxes Refard Recovery, 0'Mahoney Tells Realty Parley Speakers at Conference Stress Problems Faced By Property Owners Senator O'Mahoney, Democrat, of Wyoming, who is chairman of the Temporary National Economic Committee, today told the national real estate tax conference at the| Mayflower that tax pyr&miding is a major deterrent to economic re- covery. The conference met yes- terday to search for an answer to the Nation’s tax problem which would result in shifting some of the| revenue burden from real estate. F. B. Bourland, Illinois manager for the Home Owners’ Loan Corp., said his organization and other mortgage lending institutions had found that high real estate taxes decrease values on homes, block sales and retard the spread of home ownership. He said, moveover, that the tax situation was a large factor in the debacle that brought into ;‘xi.gence the need for the H. O. “Now the H. O, L. C.,” Mr. Bour- land said, “in its policy to return its properties to private ownership at K H 3 the first possible moment without | A ¥ dumping and without destroying Lhe; ¥ % % market which it was created to| 3 protect, faces again, as it did dur- ing the refinancing period from 1933, the obstacles presented by high ! taxes and disproportionate assess- . ments.” Tax Adjusiments Held Necessary. | The conferees heard from Robert | H. Armstrong that business districts | suffering from the current trend | toward urban decentralization can- | - A not come back in an economic way unless property taxation is adjusted | to meet changed economic condi-| tions. Mr. Armstrong is president | of the Ely Economic Foundation. | i Ivan A. Thorson of Los Angeles et urged that real property be valued | . ¢ for tax purposes primarily on the 2 75 suits are actually worth SRR = $30 o basis of its earning power. | The merit in a change in the real et Se——————————————————— estate tax structure was pointed out: ;,o the conference by a statement | . rom Gov. Clarence D. Martin. His 650 ll 9 h L 25 statement, read to the aelegates by | sults are GCtua 3 lvort 0 Herbert U. Nelson of Chicago, said e ———————————————————————————————————————————————— that in 1933 the State of Washington | put an over-all limit on the real| estate tax rate. The result, the Governor said, has been State and 950 su its are actuall)‘ lvort’l local financial soundness and an in- | centive to building. The limit is 40 mills on a 50 per cent valuation. | L. J. Taber, master of the Grange, | . A protested that the real property tax | Pardon our enthusiasm men but we're so Tropical Worsteds! system still largely i , & hold- | H et itroR e e ol proud of these Hot-Weather Suits that we'd was the principal revenue producer | i i i e oncal revene Torodiioes like to shout their praise from the roof licr;ggn};!(lf :glring?'st tsrrr_\ters- LHe tops! For twenty-two years men of Wash- Very ate write a tax . . H limit into its constitution. Herbert ington have looked forward to this now Scotshire Shetlands! D. Simpson, professor of public | . ~ . . finance, Northwestern University, | famous event as their opportunity to buY Fine Regul Twists! ;ginusx;;:.x system is prolonging the high quality Summer suits jn advance of Crystal Tweed Suits! | the regular season at a price that saves | Imported Mohairs! Knottingham Tweeds! Banquet to Close Conference. c l Slk s" Y i 0ol 31 antungs! SEraRy oot s e them many a dollar. Even if you are ac- 9 toastmaster, and Representative your suits you'll find fabrics, styling and breasteds! was to hear this afternoon from | Drape Models! Resolutions Committee held hear- AL HANIE S GhIoAR0 Chales son and save! Conventional Models! Regulars 34 to 50 Short Stouts, man, Washington representative of ] Le"g” -35 to 48 Lo“g Stouts, City; James G. Baker, St. Lou president of Washington Properties, | The conference, which opened yes- Mayflower at 7 p.n., with Roger J.| customed to paying considerably more for 2 and 3 button single Celler, Democrat, of New York as| el ey reach your fondest expectations. Look - v o ings The committee elected yester- and buy now in advance of the regular sea- Sport Back Models! Note the Size Range man; Col. O. O. Ellis, Baltimore: | Shorts___35 to 44 39 to 46 the National Grange; John Watson, Stouts __38 to 54 40 to 54 Newton T. Farr, Chicago; John and J. W. Wheeler, Seattle. The Governors of seven States have representatives at the confer- ence—Ohio, Pennsylvania, Georgia, Whiteford, Washington attorney, as | the principal speaker. The meeting | workmonship in this great event that will Doubli breasteds! Prewitt Semmes, Detroit, after the | forward to those hot Summer days ahead day is composed of: Herbert D. Simpson; Fred Brenck- (The Hecht Co.. Bargain Annex, 613 E Street.) Chicago; Byron T. Shutz, Kansas O'Brien, Newark: Thomas D. Carson, | Florida, Arkansas, New Jersey and California. The conference chairman is Myers T. Cooper, former Governor of Ohio. The secretary is Lawrence G. Holmes of Chicago. Vice chair- men are Graham Aldis, James McD. Bhea of Washington, president of the National Apartment Owners’ Asso- ciation; Fred Brenckman, Byron T. Shutz and John C. Bowers of Chicago. { Capital Hiking Club Route of this Sunday's hike of the Capital Hiking Club will be the old Leiter road on the Virginia side of the Potomac, according to C. Lars- gaard, leader. The party leaves by bus from 1416 F street N.W. at 8 am. The public is invited. crotch Sonnysayings ‘ / j ' shorts! Knitted Practically every type of shirt and “g:i:l’;‘;“ short you want is in this great event! i Every short made with balloon seat! Shortsizes30to44. Shirtsizes34to46! Tomorrow you have an opportunity to really [S,T:,: lay in a supply of fine shirts and shorts at 2 4 l shorts! worth while savings! You're going to need / them . . . spring is here and summer is just around the corner . . . that calls for extra underwear changes. Swis, Panel or Derby Shirts, 19¢, 6 for $1.10 Phone Orders Filled—Call NAtlL 5100 It's funny I can't keep crack ob my things! If Your Dentist Hurts You Try DR. FIELD PLATE EXPERT Double g Suction 613 E ST i, r Smment for Erorrhen " Vi 't y eatment for Extractions $1 and $2. Also Gas N W 10 to 835 up DR. FIELD 406 Tth St. N.W. MEt. 9256 Some— o e s v IANNEX SllOPPlillS ALWAYS FI}VD CONVENIENT }’ARKING IN OUR PARKING IIUI:‘DING RIGHT BE?]DE THE BARGAIN ANNEX Gol ingt up