-Emphasis
pg Placed on
.. . ntity in the Past
l ear, Is Belief
where is no question about 1926
pouibliitlee of great prol-
.. ty. The real problem‘ in the
. ding. construction business is
titer that prosperity will be
‘ thy for the investor. the build-
contractor' or the building ma-
, and equipment manufacturer.
-iy man. and distributor. accord-
to Allen E. Beale. of New York
said:
. a. matter of fact there is res.-
to believe that the much vaunt-
minority in many departments
the building construction indus-
‘ tiring the last two years has
' been as rich in rewards as the
file has generally been led to be-
It is certain that abuses. cor-
on and trade practices that
no place lnrespectable busi-
have crept into the building in-
. largely because of the great
time of construction that has
-‘ en carried on.
"It is right at this point that the
- etc of the 1926 perspeetlve
' Quality has been allowed to
> Itemte while quantity, or price,
been allowed to assume a domi-
ng position to the end that a
. timany investors in building en-
. lees have come to face a sit-
tlon where depreciation is going
t so heavily upon operating
within the next few years as
jeojardise the safety not only of
investment. but of those who
and work in some of these
ldlnss.
As far as the supply of building
terlai is concerned for next year,
re is' nothing to worry about
on it comes down to the question
" ‘eetlng approximately tlle de-
hdthat was developed by this
‘ I building requirements. The
mmitments made for 1926 con-
Htlon. so far as they can be
3 vv
as to supply.
Fear Runaway Market.
ut the manufacturers fear a
way market. The rising costs of
in kinds of building materials
in recent weeks shows what
tendency is. In plain words. the
dency is to ride the market for
t the ultimate consumer will
the cost and when he gets tired
e load he will lay it down.
/ The trouble is that the ultimate
ed. The practice has been in
past to keep on building until
olesale foreclosures indicate that
is market is giutted.
“The building material manufac-
g industry has been geared for
. high a gait since the war to
. u up to the blink of a cha's'm
e that. only then to realize that
“must stop shalt or plunge into
: tar. Such a. situation even now
considerable possibility of de-
yelopment. At least it may be as-
rued to be national in. score when
stain building material manufac-
ra deem it important enough to
ecretary Hoover of the De.
nent of Commerce that it is
runaway market that alone has
‘ bilities of upsetting the pres-
pity of the building industry.
here are economic changes tak-
place in the building construc-
market. There is no doubt that
to public is aware of that fact. is
magnized that sooner or later
turn in the headlong plunge in-
building investment must come.
rticularly in the highly specula-
rm fields.
any to take stock
How Did Totem
Has.
{fifmolsshnusL—so. permit, cows.
for Pretty» Gil-'1
Miss Julia mm, seem inner-ole school girl, has disappeared
from her home at Kenoeha, Wis.
believed to have been the cause of her disappearance.
search is being conducted.
been done and what is contemplat-
ed: also of what is needed.
"The longscontinued coal strike
has affected some building materi-
al manufacturing departments more
than others. It is certain. however.
that there can be no great surplus
of basic building materials on hand
when the building season opens in
March. At the rate of current city
and national projections. the sea-
son will open strong and there is no
chance whatever of great surpluses
being piled up in anticipation of a
movement greater than that of 1926
in time to prevent a stampede for
delivery should excessive demand
arise." '
Mortgage Facts .
Fully Explained
A real est e mortgage is a lien
against real roperty. A first mort-
gage is a prior lien and seldom ex-
ceeds 50 percent of the value of the
real estate pledged as security. ac-
cording to the N. Y. Times.
A second mortgage is the same as
a first mOltgage in kind but is “sec-
ond" or subordinate to the latter.
The security for its lien is less stable
than that for a first mortgage, and
it is therefore more expensive to
place a second mortgage.
Like rent, however. it is is neces-
sary evil. If the degree of fluctua-
tion of the mine of a property is
small mortgages can be placed to
cover such a large proportion of the
real value that the owners equity
will be small indeed.
The equity in any property
that part. of its value over and
above all encumbrances upon it. The
smaller the mortgagor's equity. the
less each succeeding mortgagee's
(lender' 5) security becomes in case
third or fourth mortgages are plac-
ed.
Foreclosure proceedings are re-
soxted to in ment of default in inter.
est or principal by tho bonower or
mortgagor. in which case the pro-
perty is offered at public auction.
Amortization is usually insisted
llpon by holders of lesser liens than
a first mortgage and consists in re-
ducing the principal of such liens
This is as good a then lily for
of what has therefore least at its placing. but ill-
‘Get That F r
by means of instalments. The seen-
a suboldlnato mollgage is
~ 4
is
-' Jing April.
An intense desire to study art is
A nation-wide
creases in proportion to the progress
of amortization.
A building and loan mortgage is a
loan secured by a party for the pur-
pose of building. under the terms of
which agreement advancements are
made at agreed-upon stages of con-
struction. Building and loan mort-
gages are invariably paid off by in-
stalments. The most popular form
of amortization is the payment of 1
per cent. of the loan per month.
which includes interest. The ar-
rangement will pay off the mortgage
in eleven years and seven months.
A bond issue mortgage is {large
mortgage against which,certificates
or bonds are sold in small denomina-
tlons.
A participating mortgage is a
mortgage in which two or more par-
ties aro interested.
Mortgage interest rates from 4 1-2
to 7 per cent. depending upon mar-
ket conditions. the lower rates us-
usuaily prevailing where the mort-
gagee is unquestionaily sound. Sup-
ply and demand determine mort-
Kaserates. usually. The maximum
legal rate in New York State is 6
per cent. between individuals. but
corporations are not‘includcd under
this ruling.
Why Wait for Spring?
Begin Building Now
not go ahead and do it now? _
It is only habit that crowds the
building season into spring. experi-
enced people say: and it looks
plausible.
New building construction ought
to be spread out all through the
year.
Contractors say it is not the bad
weather which prevents winter
building so much as it is the cus-
tom not to build.
Get out of the rut.
Build now.
Local Legionnaires
Plan Stratford Visit
The regular meeting of the Frank
C. Godfrey Post. No. ". American
Legion. will be held in Odd Fellows
Hall. South Main street. this eve-
hing.
A delegation will attend the Fair-
tleld County meeting of the Legion
to be held in Sterling Memorial
Hall. Stratford. tomorrow evening.
Past State Vice Commander Le Roy
D. Downs will give a. detailed re-
port on the plans for the County
banquet to be held in this city dur-
He is the chairman of
the banquet committee.
PASSING STRANGE
Astonishing. isn't it how old. use-
less habits cling? For instance. a
woman still will pull up her skirt
when she sees a mouse—Eve. Lon-
don.
If you are planning to build. why ,
\
1mm all...
WASHINGTON. January 19,...
Jalted States Treasury ,net bul.
once at close of business Jen.
is was $308,281.11”.
' NEW YORK. January tie-1pm
the walls of the New York Chamber
of Commerce meeting. hall are
massed the paintings of several gen-
eratione of ilnanclal “and business
giants.
They rise in gold framed splendor
from the floor to the arched skylight
high above. They range from the
lynx-faced JohnD. and the, powerful.
dominant features of Morgan to Hill
round. florid cheeks of well-fed and
well- llquored gentlemen of revolu-
tionary times.
What an absorbing study for one
who enjoys reading character from
features. or for a doctor who might
like to guess at the number of deaths
from high blood pressure!
Now. to the average mind. the
term "chamber of commerce" con-
notes modern business methods,
essential conservatism, super-organ.
lzatlon and all that. Certainly few
think of it in terms of ilcry romance.
Yet there is the portrait of one
John Cruger. “first president of the
New York Chamber of Commerce.
1768."
It thus becomes apparent that the
world's first chamber of commerce,
untcdates the American revolution
by several years.
And this cru'ger it was who “Toll;-
the historic "declaratlon of rights
and grievances of the colonies" into
the Stamp Act.
Some 20 men had gatherml in
Frauuco' s Tavern, wine, ale and col—
Fiery
This is Senator Cole Bl see. 3. 0.,
who in a fiery speech t the Son.
nto charges that foreign diplomats
llro supplying Washington girls with
two much liquor.
heart, while the British troops de-
parted.
Some of the items on the hill are:
“75 bottle Madeira wine. 50 bottle
port. 50 bottle claret. etc." In mod.
ern exchange the party would have
cost $375, or tllereabouts-most of
which went for many merry rounds
of drinks.
. There is another even wilder par-
ty recorded for Washington and the
French minister. which ran up a
cost of abou" $700 for drinks. Then.
too. there is record of a charge of
something like $200 for “broken
glass and furniture."
The boys of the first chamber
were. obviously. no rospcctors of
fee house. which still stands. recon- .
structed. in the milling heart of the l
Wall Street section. A' most impor. I
tant business meeting it was. lfltl.‘
Merchants ' and people alike “mm
outraged at. the tax demands or ill:-
motherland. \In a majority of tlu ll
hearts was the rising tide of revolt.
And here is another interesting
subject for contrast: It is a bill I
rendered by the Tavern for a pally I
thrown by the chamber for on.»
George Washington who had march-
ed through Harlem into the city's
ilo crls' rules of order.
her pictures reveal members
puffing contontcdly at their clay
pipes and it is recorded that a
Frenchman. seeing a cigar smoked
for the first limo. was extremely
shocked and all France. in fact. was
shocked at this strange and unncccs~
sary sustain.
Today the doorman politely re.
quests that you check your cigar in
the hall outside.
Surely “them were the days."
~GILBERT SWAN.
speaking of old"
Jimmy" challenges Mellie Dnnham.
Kan. who still wiggles a mean how
”am a geek in vs-
I”? w I .,
e‘w hath toasting ream was
Mr. Ferd, Here Are Two More
more, here are two that you
can’t very well overlook. Above is “Uncle Jimmy" Thompson of Martha.
Tenth, who is 82 and claims to be the world‘s champion fiddler.
"Uncle
Below is M. '1‘. Funk of Wichita.
at 02.
quadruple M03 or .
Bridgeport Won- organised III
took place. Department Com
- is the first shop I've tried.—-Tit-llit3.
. Wall Street
TRISTRAM 66 HYATT
Norwalk’s Leading Dry Goods Store
0
Special
Broken Line of Marquisette Curtains
$1.75 Pair
Former Price $2.50 and $3.00 Pair
Plain and dotted pattern marquisettewith narrow color ruffle and tie
backs to match—2% yds. long
Norwalk, Conn.
1
Sizes 64 x 76
“Sunset” Plaid Cotton Blankets
Watch this space for reductions in Coats, Dresses and other departments.
$1.00 Each
Captain Baron Von Bu encrcolr,
of 4,000 miles. in the ail-metal Domici- piano shown above.
, flew fro m Columbia, S. A., tol’nlm Beach, I-‘la.,
Flies - ‘From‘ South to North America
a distance
Deaths and .Funerals
Orsjlo Tucci
Oraglo Tucei. three months old
son of Mr. and Mrs. Orajio Tucci.
passed away yesterday morning at
his home, 109 Ely Avenue. Funeral
services will be held this afternoon
at 3 o'clock from the late home.
100 lily Avenue. Interment will be
in St. Mary‘s Cemetery.
Renard Johanson
Tile funeral of Leonard Johnnson.
of Woodsldc. who passed away on
Sunday morning. will be held to-
morrow afternoon at 2:30 o'clock.
from the Swedish Congregational
Church. Interment will be in the
Cast Norwaik cemetery.
Elizabeth Clock. .
Miss Elizabeth Clock. 85. died at
the home of her hrolhcr-ln-lnw, Dr.
C. W. Many, of 30 North avenue. last
night. She was the daughter of the
late Charles N. Clock. Funeral
services will he held tomorrow af-
ternoon at 2 o'clock from her late
home. Interment will be in the
Riverside cemetery. lillss Clock was
one of the oldest residents in Nor-
walk.
Windows Smashed
In Two Buildings'
A complant was made to the South
Norwaik police yeéterday about
someone breaking windows in the
factory of the Peerless Fur Com-
pany. Woodward avenue. Detective
Sergeant John L. Roberts is inves-
tigating the case.
Carmine Amalo compianled to Pa:
trolman John Smith yesterday that
a window in his barber shop. at 17
Ely avenue. had been broken Sun-
day night.
SHOPPING HABIT
"The cloth matches the sample
perfectly. madam."
"Yes. it certainly does—it couldn't
be a better match."
.‘How many yards do you require.
madam?"
“Oh. not any yet.
‘3
You see. this
Local Drill‘ T eam Attends Bridgeport Legion
r ins galcusrty Posts aiid Mrs. Lucy team who went to
Edwards of Shelton. department
-1lresident of the Auxiliary. install-
N 0 Trace of Man
Who Drowned in Fog
BRIDGEPOR'I‘. Jan. 19 (AP)—
Police and water men grappling for
the body of Edward Hilbert. marine
engineer on the Brewerlon. a for-
tilizer boat tied up at the dock or
the Berkshire Fertilizing Company.
had been unable to locate the body
today. Hilbert is believed to have
fallen into the water of Cedar
creek during the heavy fog last
night and police have been trying
to locate the body since that time.
He was about 50 years of age.
Settle Two Civil
Cases Before Trial
Two local civil actions were set-
lied in the Superior Court. before
going to trial yesterday. They were:
The action brought by Joseph
Dobronyl. Bridgeport. against liar-
ry Illanllow. this city. to recover
. $15,000 damages for injuries receiv-
ed in an automobile accident on
November 5. 1925.
The case of Herbert Weintraub
against Frank Picclone. both of
Norwalk. to recover damages of
$3,500 for injuries suffered in an
auto accident on'August 28. 1925.
FORMER LABOR BUREAU
SL‘PERINTENDENT DIES
NORTHFORD. _Jan. 19.——(AP)
Josiah James Linsly. aged 76. who
was a member of. the general as-
sembly from'North Haven, in 1895,
died’suddenly from heart disease
while at. home last night. He served
for a. time as superintendent of the
Flee employment bureau in New
Haven under the Connecticut La-
bor Bureau. .
TRY-OUTS
HUSBAND: Good Heavens! What
have you been doing to that horse?
AMERICAN WIFE: Well, you
said you thought he was fast so I've
been trying him against the car. and
James says he can only register a
bare 30 on the speedometer.—Punch,
This Locarno peace pact hasn't
stopped the fighting in Chicago.
a were:
Lieutenant Philip Sherwood. meat.
enant Lenoir Dr Downs. Sergeant
' *w chief Justice George or Barry C. Jackson of New an: en the officers or the two auxiliar— William O'Grady‘ Joseph War-go,
taln installed the officers of the
ion.
Henry Stolen. w tor Johnson. John
nemmbmoftheiocaidtmmnh (semaphore
As- Evelyn
Gave Fawn
The Air
Fawn Grey. dancer. who recently
won Harry Thmv's attentions and a.
$10,000 bracelet. went to Chicago to
visit Evelyn Nesblt. who is recover-
ing from a dose of poison. She got
no farther than the office of the
West Side hospital. When word came
out that "Miss Nesbit does not wish
to see you." Fawn said she was ter-
ribly hurt by the slight. She had
brought a bouquet of roses for Ev-
clyn.
Dedication
Williams. Walter Cowing. Edward
Hughes. Theodore Greenwam
Frank Da Mata. Charles Bwint.
Charles Goldschmldt. Murray J.
Israel. Cy Raymond and John To-
tolls.
’x
Norwalk Chronicler