The evening world. Newspaper, August 21, 1920, Page 5

investment streams so that BiG INCOME TAXES D Mortgage Lona ta Must Be Free Again Before Housing Can Get Back to Normal. Steadily decreasing supplies of hortrage money are beginning to etrangle building operations not only fm New York but throughout the country. 4 Projects calling for more than $3,- 9007000,000 have been planned since the first of the year and not more ‘than $1,800,000,000 of them have been @tarted. While this is well above $1,850,000,000 for the corresponding period last year, as reported by the F. D. Dodge Company, it does very Nttle toward filing the huge void eaused by the halt of work during war times. In 196 cities, according to ‘reports tabulated by The Amer- fean Contractor, plans filed during the first half of the year for 40,798 Seajeote called for $125,427,000 in arison with the 1019 record of forte projects and $145,773,000—a serious decline in actual undertakings for homes and business in view of fnoreasing demands. | Investigations by recognized author- | ities ali trace the reactionary con- @tructional movement primarily to the withdrawal of capital from, mort- gage loans. Builders must have money to carry on their work. Business goncerns are able to finance necessary | projects, either with their own cap- ited or with loans obtained at a heavy | jum to be more than made up Longe fits following prompt exten- re plant. Many homeseekers, have been able to put up houses with their priyate savings. @reat work of housing the masses, empecially in cities, must be done ch largo loans to builders, and steady withdrawal of mortgage ital has rendered the housing | lem inereasingly difficult. $1,250,000,000 A YEAR Loss) THROUGHOUT COUNTRY. Homes in volume cannot be built to supply the continued advance in pop- ulation unless there is a constant flow of new money into real estate mort- Metropolitan realty, as has reported in The Evening World, ja losing $500,000,000 a year through withdrawal of mortgage capital. Throughout the country the joas is estimated at §1,250,000,000, , And no more is needed to account for the hopelessness of the housing situation. Realty experts and economists gen- erally are recogniaing this simple as- pect of the housing ersis. They admit that the only way to cure the troable is: to stop the optfow of money and then to turn back the realty may get them again in normal vol- uma, This mo. money Was driven out and still is being driven out by Federal and State income taxes, If these taxes were abolished so far aa mortgages on residential property are concerned, not only would the old normal supply of money becon.e available again for home bu Iding, but such mortgage investments, car- rying 6 to 6 per cent., would becoine much more attractive than 3% ver cent. exempt Liberty Bonds, or car- ration securities not netting the fe investor as mitich income. Realty investigators declare that te énily way to obtain a restoration of home building on @ normal bass is to make such projects attractive for huge amounts ‘of investment capita! and that tax exempt mort- gages just now would become at once the most attraotive field for billions of such capital, UNITED FOR BIG FIGHT TO FREE MORTGAGES, Officers of the Rea] Hstate Board, Advisory Council of Re Estate In- jerests, United Real state Owners’ Associations, New York State Realty Association and organizations repr senting a great majority of realty i terests are consulting with the United Btates Senate Committee on Recon- struction and Production under the chairmanship of Senator William H. Calder to arrive at measures for re- storing @ free flow of mortgage money into its old channels. They say that the housing crisis both in the metropolitan district and all over the country cannot be met through any other means. Tre home, they argue, Is in Jeop- ardy. As the basic unit and most important factor of our Institutions, they fear to see it placed in such great danger by the housing situation and they urge emer, action at once to save It at all They are uniting for home mortgage tax ex- emption, willing almost to guarantee that it will prove a prompt cure with- Out the need of any one of the flood of other measures proposed for the coming special housing session of the Legislature. In the meantime, friends of the 500,000 to 1,000,000 tenants who face possible eviction next October as a rocult of the bemuddied rent-gouging struggle are demanding more vooif- erously every day that immediate legislative action be taken to protect rentpayers and to halt landlords on the basis of 1919 rentals until thie cure can be put into operation and Produce tho anticipated results, IN NEW “YORK TO-DAY. Police Feld Day Committee, luncheon, Waldorf-Astoria, Hotel, 13 noon. Pansy Brassiere Company, Waldorf-Astoria Hotel. Roosevelt Gentral Teague Headquarters, Hotel ‘Women's National Democratic Head- quarters, Waldorf-Astoria Hotel. Guardian Léfe Insurance Company, convention, Fiotel Pennsylvanta Burroughs, Adding Machine Company, vg, Hotel Pennsylvania, 10 A. M. National Retail Dry Goods Assoc tion, meeting, Hotel Pennsylvania. exhibit, Park Memorial Waldorf-Astoria Campaign for the benefit of the. $3.< 000,000 Arnay and Navy Club, Hotel Nabratt, Lang. Beach, —_——- - an pet and Foued” artictes bed in The World or reported fe “Lost and Found Bureau,” Room Tes. ‘orld Building, will be listed t Geys. These liste can be ‘any of The World's Offices, Oeil 4000 Bookman, New York, Brofyiya Office, 4100 Main. *. “DRVEN AWAY BY ‘out the (Mark that with By Mildred ete D*ire's in the open air under tall, full-leafed trees that sparkle with tiny Nights is quite the fav- jored summer evening pastime at fashionable resorts, and this indulgence has inspired a type of evening frock which is high ti, lemok and sup; plied with tiny sleeves, usually in one with the bodice. Thus the formal atmos- phere of the decollete gown is eliminated, while at the same time an appropriate dressiness i 8 maintained. ‘The design I am of- fering is typical of this sort of frock, and the chick air of it will appeal to those young ma- trons of = dis- criminating taste who strive to In- corporate the quality of style in all of their gowns, It is needless to re- evening gowns the usual attri- butes are charm, becom ingness, daintiness and modishness, with “style” expressed only by the @& wearer who is lucky enough to be endowed with the coveted ability to “carry” clothes. This gown has a rolling shaw! collar of crisp taffeta, which in front drops loosely over the slim bodice, and blouses over the tiny ribbon belt. dignified yet youthful charm of it is especially suitable to the young matron. at intervals by cordings,’ the monotony of whieh is interrupted by a luscious rose at the lower side-front, under which the narrow ribbon streamers that drop from the belt line are re- strained, Taffeta in any desired color may ‘be employed for this frock, The skirt is full and confined which js an excellent mode} for restaurant and theatre wear this winter. LIQUOR IS SHOT BY TORPEDO FROM CANADA TO U. S. Dry Agent in Chicago Discoy- ers Newest Device to Ship Wet Goods Here. WASHINGTON, Aug. 21—With whiskey-loaded torpedoes shoot- ing under water across Lake Michigan, and with swift launches and other craft smuggling forbid- den beverages into the United States, Prohibition agents of the Chicago district have thelr hands full enforcing the Volstead Act Major A. V. Dalrymple, inspec- tor in charge of enforcement in Tiinols and Wisconsin, is author- ity for the torpedoes, He ts here to see Prohibition Commissioner Kramer. “I intercepted one of these liq- vor-laden projectiles myself,” said ihe. “The torpedo leaves the Can- adian border at a moderate rate of speed under mout three feet of water, When nearly spent it is picked up by one of the small ‘poate which infest the lake. My men caught a crew of these of- fenders in the act.’ —_ THEY GET JOBS FOR WOMEN. ‘The Vacation Association announces that it will open an employment bureau at No. 218 Madisoa Avenue, finding op- porcunities for business and profession- al 1 who wish to advance them- hange their employmer selves or to Special attention is given to the ap- tions from women without previ Lon pe oA training, gradua’ strangere also ‘in “New Gork:; Tom herd ne to keep it, an they have pa women the uge ally begin whieh buy ir traini. Bacon, Once rHE BYSHIRG WORLD, 8A The 8 including ag tolioge who find it easy to get employment but hard from women who are thrown on thelr own resources after TWO FIREMEN DROP, FLAMES DANE OUT MANY FAMILIES enipeorn Swift Blaze Wipes Out :Fac- tory and Ties Up Traffic in Brooklyn, Scores of families were driven to the street and two firemen were over- come and barely saved from a falling floor in a@ fire early to-day that razed the plant of the American Products Company at No. 1363 Flushing Ave- nue, Brooklyn, Damage was $60,000. Nothing was saved, and it was only by hard work and the absence of a breeze that the flames were confined to the factory, Jacob Helser of Engine Company No. 271 and Albert Fiske of Hook and Ladder Compafly No. 104 were inside the building when the second floor began to give way. As they started out with their companions they stumbled and fell unconscious from the heat and smoke, Firemen dragged them out and they were revived by ‘an am’ surgeon, Several ether firemen were burned slightly. The Fisher Garage, around the cor- ner, was In serious danger. One hun- dred automobiles were taken out and streams were played on the buiiding and adjoffiing frame residences when Battlion Chief Thomas Kane saw he could not save the factory. Mrs. Franalg Corcoran of No. 1357 Flushing Avenue first saw the fire. Her alarm brought Policemen Cogan and Conroy, who roused the residents and helped carry out furniture and family treasures until the heat be- came too intense. Street car seivico was dinconnoye’ St for three hours. LosT—2 FIFTH AVE. LOTS. Seal Brooklyn Baye Canaan Leake Park im Vain. After a fruitless search of days to find two newly-purchased lots at Canaan Lake Park, near Patchogue, L.L, Edward Packer of No. 168 Jeffer- son Avenue, Brooklyn, has tired of his efforts, The finding of the lots, he suya, must await the opening of streets in the section thatthe property ts ported to be in. ‘The lots are in “Fifth Avenue,” and ee i no Fifth Avenue, according to Peacker bought the lote for each, om the Cansan Lake Cont- a month for them. He ea to other Pt ih own ection to Join with im In atr In effort to an Aversion, Now a Luxury HERE was a time when some of us ate bacon simply because we could not afford Sheffield Farms is the accepted standard of milk quality and service the world over it was a sin to ) It's « waste, If you pay 50 actual foo @ pound, anything better. was there with the hams and spare ribs and 50 cents a pound, Somebody had to cat it. It waste it. But now look. Bacon costs all the way from 35 cents to $1.50 a delicacy. A fair average price 17% of what you buy is What you eat contains 27% water. cents a pound at the store, the food content of that bacon costs you 82 cgnts a pound, in the world, supplies net solid ‘food at 50 cents Sheffield Milk, the finest food The milk you buy at the 190 Sheffield’ stores is ezactl the milk we deliver in bottles. the same in, quality as Phen you get milk at a She‘field store you are sure of its quality, safety and cleanliness Sheffield Farms Co., Inc. New York JOHN WANAMAKER, New York _By reason of the DEATH OF MRS, JOHN WANAMAKER All our places of business in New York, Philadelphia, Paris and London will be closed till Tuesday morning August a4th URDAY, AUGUST 21, 1920. A a vt has Grand Cente Palace ington Ave 46% 47 Streets: 4m to 6pm Daily10rm Saturday LAST DAYS of this tremendous $5000000 SALE: BARGAINS Today is a good day for you to save money on your winter needs. This sale, the greatest sale ever held in New York, is drawing to a close. It has made a record for selling good merchandise at a list of prices which have astonished the country. Think of the coming season. Remember that regular fall business will start in a few days, and that, when it does, ‘regular’ prices will be put into effect—and that means that you will have ° to pay profits to regular merchants, These goods are all being sold without profit—in fact, many of them are being sold at less than their cost. Do not fail to see the wonderful bargains in woolens, airplane cloth and silks—bargains almost beyond the dreams of the bargain hunters, Come today. Open until ten o’clock this evening. Policemen, Mail Carriers Policemen and mail carriers, men who have to be out of doors @ great deal, in all kinds of weather, must have shoes that wil} stand the rain, the slush and the hard wear that they get. We have specialized on a line of shoes which have proven tre- mendous sellers, especially to policemen, mail carriers, street car men and men who must have service, and at the same time like appearance and comfort, Five styles gun metal, straight lace or Blucher style, Goodyear welt, heavy single soles, sizes 6 to 11, D and E widths, wonderful velues at Busy Business You men who like to look nifty and who ap- Men See These Get in on this sale. You can save money on high-grade shoes that have the dash and go you like and quality too. preciete economy when it does not meun getting inte the “cheap” class, look at the suits we are closing out. ~ $ 2 9. 50 , ; Men’s Suits Reduced from $35 to These are checked cassimeres, single breasted, two button, young men's model; quarter lined, but heavy enough to wear well into the fall, and for all winter if you are indoors @ jot. s 22: 50 , Men’s Suits These are two-button, double-breasted young men's Reduced from $25 to model, snappy and form-fitting. They are made of heavy cheviot, quarter lined, and are big sellers with high school boys, ' There are a lot of fellows who like real snappy footwear, but who balk at paying from $15 to $20 for a pair of shoes, Look at these snappy Brogue shoes here. They are smart; they are a splendid quality of calf, they are wing tipped Brogues, straight lace; Goodyear welt; Oxford or high shoes; sizes 6 to 11, and are priced at $8 Shoes for School Kids Pretty near time for the boys and girls to start to school. Pretty near time, too, for “‘dad” to begin figuring on shoes for the kids for winter. Here are shoes—good, dependable shoes—for boys and girls, shoes with style, wearing qualities and low prices. 3 If you remember what you had to pay for shoes last fall, and realize that shoes are going to cost real money THIS fall, you will appreciate the bargains that are here. Two of the particularly attractive bargains are: No, 1510—Boys’ tan Blucher;| No, 7033 — Girls’ patent full toe last, Also comes in| leather, Russia calf or tan or button style, Sizes 244 to| black vici kid Oxfords. Sizes 5%, A great value. 8)4 to 11, $3,50; sizes 114g $2.50 | $4.00 Grand CentralPalace Nemours Trading Corporation, Chas. W. Mills, Vice Pres’t & Gen’l Mgr. Hours 9 A. M. to6 P. M. Daily. 10 P. M. Saturday eee ie peer ee Se dies a= ad ares as te <a