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i¶ea1t, Inc. "With Chicago rapidly becoming the çenter of population,. industry and commerce of the United States, and with the impetus upwardd in realty values, which is.certain to be the, re- *suit of -the authorized 'conisolidation and expansion of transportation facil- ities, the Illinois Legislature's resolu- tion for an amendment to the Consti- tution, the.consequence of wbich will *permit the relief of real estate from its undue burden of taxation, according as authorized to be voted upon in the November election;ý the manifestation of..Chicago as Amferica's most rapidlv roing city; the attraction tio a'per- mauent'residence and business estab- lishmnent in Chicago of thousands of the visitors. who will cone. to the *'Century .of Progress" in 1933; the cessation. of* building which hiasbei very properly enforced for nearly the past two years, the conisequence of which, ,lîowever,' lias been the very rapid al)soiption of existing vacancies; ail of these factors," according to Ben- jamin Bils, "mean -that 'capital wil more and more seek investmnent ini Central Chicago real. estate." The investments of the First Clii- cago Trust are to be widely diversified -780 percent thereof being confined. to încome-producinig properties in the Loop and Central Business District, and 20 percent ini liquid securities, This is the first time, according to Mlr, Buis, that a provision bas been made in 'a real estate investment trust for the assurance of, the element of ex- cellent marketability and collaterai boan value in real estate securities through the provision ini the portfolio for a substantial percentage of liquid securities. l'Tie investmnents of the trust. are to lie made prjmarily i 'iiipoepr- erties on such streets as North La Salle street and other main boulevards and in, the main business centers of Metropolitan Chicago, *where there are alreadv at work special value-building factors. ,-'Capital o-,utside_ of Chicago -particu-, larly f rom New York City-it is ad- vised, lias been very alert to the com- paratively low level of real, estate prices in the Chicago aréa. It is be- aUirecto o te Los Anfgeles k'rôperties, Inc. a n $8,000,000 trust of California, and also dire etor of the Pasadena Holding company, and president of the Los Ageles Syndicate, Imc., has been appointed manager of the First Chi- cago Trust, by The Bis Corporations. Application for listing is to be mgde in duè course on, the, New Yo rk Ex- change and possibly on one of 'the Chicago Exehanges. 320 GOWNS * WRAPS *NORTH, *MILLINERY. TO CLOSE OUT 500 SUMMER DRESSES ~19 $29ý $39ý That were (ormerly markIcd up to $165, Chicago's'.grentest reduction values make, this event one of transcending importance- ... one yôu cannot afford to miss. * e a 0e DPresses ofprinted crepes or chiffons.,for' dayor dnner wear, .,.« aso pliain l.ight or dark colored creépes and georgettes for' cil occasions. I i * I * *I j I MICHUIGANAVENUE. *FURS