Evening Star Newspaper, November 6, 1926, Page 13

THE EVENING BTAR, WASHINGTON, D. 3 oS ¢ i C., SATURDAY, NOVEMBER 6, 1926. [ COTTONHELP PLAN COMES UNDER FIRE Secretary Mellon Indorses Financing, But Walton Pe- teet Takes Other View. By the Associated Press. The State financing corporations or- ganized in the South to meet the cot- ton emergency were indorsed yester- day by Secretary Mellon and criticized by Walton Peteet, Washington repre- sentative of Western and Southern farm relief organizations. “I am very much interested,” the Secretary’s statement said, “in the steps now being taken in the South to organize cotton finance corporations with ample capital to finance the stor- s surplus cotton until it can be marketed advantageously. The manner in which the bankers and business men are co-operating with agricultural interestes in a practical program, which it is hoped will meet the situation effectively, is extremely gratifying and I trust that the pro- gram will be carried through to a suc- cessful concluston Hopes for Harmony. *I understand that' the co-operative marketing associations in every South- ern State have placed thelr facilities at the disposal of the cotton finance corporations, and these two agencies < together in the will, T am sure, general inter Mr., Peteet, in his statement, held dvertised devotion tional administration to co- operative marketing has been put to test and found wanting in the present cotton crisis.” The plan sponsored by Chairman Meyer of the President’s cotton com- mission, “to direct-the holding move- ment into the organization by bank- ers of special loan companies in each State,” Peteet sald, takes “no mccount of the co-operatives,” is “lm- practicable so far as the average cotton farmer is concerned,” and is “foredoomed to failure” as a solution for the cotton surplus problem. Says Farmers Must Wait. “The special loan companies in each cotlon State promoted by Mr. Meyer may do some zood,” he con tinued. “It is too early vet to say how much or how littie. The plan is to loan holders of cotton 9 cents a pound, or $45 a bale, and hold the cotton off the market for 18 months or 2 years." In most cases, he said, the monéy advanced by the finance corpora- tfons will go to banks which hold ltens on their cotton, and the farmer “must wait for 18 months or 2 years for his share.” FOOD SHOW TO HONOR BIGGEST . C. FAMILY Probable Feature Hinted at Expo- sition Tonight—*"Smileless Man” on View Last Night. How big is Washington’s largest tamily? This may be determined at the Food Show tonizht, when the champion paterfamilias, who makes known his laim, will be given enough food prod- | to last his srood for some time. 2 5, 503 O street, who weighs the fat men’s con- | ht and was presented ie supply of foodstuffs. Mynne acobs, 3 Eighth won the smoking et at the v last. night, forcing the * * man to give one gf his br nated attendance at the Food Show so far this week d to be #round 2 . with 00 ex- pected to pass through the doors to- night. A total ai’enaance for the two weeks of more than 60,000 is antici- pated. .. Among those to win smiles from the “smileless’ on ‘the sixth night of the show Wilson, 6921 Georgia 4 Steppe, 446 “Tenth ¢ opple. 638 Ke 1 : Miss Pauline | M. Crook, Whelan, Miss C. twe teenth s ; M. street south- 9 1 Georgia 209 H street; Mrs. W. 1. Womsel, southeast: Mrs, Mrs. L. J. D, Mildred Stanley Mon- : Carol Wright, 438 avenue; 5 Pennsyivar 3 G Wrigh athern Building, Wash ington; 11 Loughboro road 25 O street M. F Md.; Mrs, P. Burts, 3. Milne, Dorwin, Harrington, & reet: ) h Woodside, Md t; Mr street; Mr: arder str rty-fourth street, L. Maschange Thomas_Smith G. Monroe, 1 <. Mount Rai Mount ¥ 1 Brook court WILL INVESTIGATE DEATH. Coroner to Probe Crushing of Workman by Steam Shovel. A coroner’s inquest was scheduled today at the District morgue to inquire into the de of John Ben 50 vears old d laborer, 409 Fifth Street s who was crushed to Geath vester when he was caught twen « dirt wall and a_steam shovel an ex at Twenty-fourth eet and ng avenue north- west Police announce the shovel, at the time of the a being op- erated by H vears old, 25 Fiftees heast. MONUMENT TO PIG. City Thanks Porker Who Discov- ered Salt Mine. County Declines To Pay Condemned Prisoner’s Board By the Assoclated Press. TALLAHASSEE, Fla., Novem- ber 6.—Fortune Ferguson, a negro, has cheated death so long that offi- clals of the county in which he is held under death sentence have re- fused to pay his “board any long- er.” Advised that Aluchua County commissioners had refused to pay the sheriff for feeding Ferguson, who has been held in jail since 1924 under death sentence for crim- inal assault, Gov. Martin has asked Attorney General Johnson for an opinion on whether the county can be forced to pay the bill. Death warrants twice have been issued for the negro, but legal moves by his counsel delayed exe- cution. The last delay came when Chief Justice Brown of the State Supreme Court gave permission for an appeal to the United States Supreme Court. PROTESTS DEMAND FOR HIGHER WAGES Net Income of Roads Would Be “Wiped Out” by Propo- sal, Official Says. By the Associated Press. NEW YORK, November 6.—The net income of Eastern railroads in 1925 would have been wiped out by a wage increase of 13.1 per cent, John J. Elkin, controller of the Baltimore and Ohio Ralilroad, yesterday told the board of arbitration hearing the re- quest of conductors and tralnmen for a 20 per cent increase In wagee. “Manifestly, with a recorded return to stockholders in the prosperous year of 1925 less than that paid to bond- holders, carriers face a serious situa tion,” he sald. g Passenger Traffic Revenue. The revenue from passenger traffic, he asserted, declined from 2.871 cents per mile in 1921 to 2.798 cents per mile in 1925, He also pointed out that reductions in freight rates since 1921, if applied to the freight traffic moved in 1925, would equal $244,117,- 679. Taxes paid by Eastern rafi- roads, he said, have increased 29.7 per cent since 1921 and 128.1 per cent since 1916. Carrying Charge Increased. Mr. Elkin asserted that an increase in carrying charge due to additional investment in road and equipment had amounted to almost $2,000,000,000 since 1916 and slightly less than $1,000,000,000 since 1921. “Employes,” he declared, “are par- ticipating in a measure in the in- creased income of the carriers, and it is a fact that cannot be overlooked that a dollar of wages has as great 2 purchasing power today as in 1921.” it iuite) NEW PIVOT COMPANY IN RAILROAD MERGER Van Sweringens Switch to Chesa- peake and Ohio as Hold- ing Concern. By the Assoclated Press. NEW YORK, November 6.—The New York Times says that the’ Van Sweringen brothers have abandoned their intention of making the Nickel Plate the proposed central of their railroad merger and are now planning to make the Chesapeake and Ohio the prineipal holding company of their projected system. Thus, the Times explains, the C. & 0. would lease the Nickel Plate in- stead of the Nickel Plate leasing the C. & O., to which some of the C. & 0. stockholders have objected. The objection of these stockholders, a minority group, is admitted generally to have been instrumental in defeating the Van Sweringen regiona] consoli- dation plan. An agreement has already been reached by the Van Sweringens for the leasing by the Nickel Plate of the Pere Marquette, it is said. Separate applications, it is understood, will be made to the Interstate Commerce Com- mission for the leases incident to_the new merger plan. The Hocking Val- lev will be brought into the proposed system through the C. & O., which holds nearly 85 per cent of Hocking Valley’s outstanding stock. MERCHANT TRAVELS FAR TO LEARN HE IS SWINDLED Retived Business Man of Melbourne Comes to Chicago From Paris to Collect $12.500. By the Associated Press. CHICAGO, November 6.—Michael Kayat, 45, retired merchant of Mel- bourne, Australia, traveled from Paris, France, to Chicago to collect $12,500, only to learn that he had been Six weeks ago while playing the French board of trade with one “George P. Morgan,” who was repre- S A by two other friendly Amerl- the financial Morgans Kayat told the police, st $12,500 on a tip given him by Morgan, Mr. “Morgan” was so sorry the tip failed that he told Kayat to meet him in a Chicago hotel ‘on No- | vember 1 and he would refund the |money. At the detective bureau thought he found pictures of Mr. Morgan” and his two friends in the rouges’ gallery as three former American confidence men. 18-YEAR-OLD BOY FACES 20 YEARS FOR SLAYING Charles Humphrey Is Found Guilty of First-Degree Manslaughter in Student’s Death. By the Associated Preas. ST. PAUL, November 6.—Charles Humphrey, 18, St. Paul, last night was found gullty by a jury of first-de- gree manslaughter in conection with the death of Ashley Robinson, a high school student. It was the second conviction result- ing from Robinson’s death last Spring, when he and several youths accom. panying girls were set upon by Humphrey, Steve Hartigan, already BERLIN, November 6 (P).—Theconvicted on manslaughter charges, oity of Luencherg has erected a beau- |gng several others. tiful mont a lean, scraggly | gentence will be pronounced today. pig. The n a bronze Tepro-| The penalty is from 5 to 20 vears' duction of famous animal, | yrsonment. was put up out of gratitude for the PR great increases in the city's wealth - growing out of a discovery made by Files Bankrupt Plea. ve vears ago owner of| A petition in voluntary bank- \u ticed :v.icyx(n‘::lel.\rp anks | ruptey has been filed by Adolph ng vard. He investigated | Siegal, conducting tie Royal Boot hd found it licking a deposit of salt. | Shop, at 529 Ninth street. He lists he deposit has since been cix}lplon::‘«:lms f:bts'..az“u.ss:' 56 ;lned ’:um!:;:g t the richest table s assef 290. - nd is one of i e sl mines in Germany. SOUTHHASBIG TILL IN COTTON SLUMP Turns Away to Diversified Crops and Industry and Sees Record Cash. BY ROBERT T. SMALL. Special Dispatch to The Star. . ST. LOUIS, November 6.—The low price of cotton has been a tremendous disappointment to the South and Southwest, and in some cases has re- sulted in hardship to growers and the backers. But after traveling during the past three weeks in all but two of the great cotton producing States, this writer was unable to detect the feeling of depression which the coun- try at large generally has attributed to the cotton belt. ‘The reason for this is that cotton steadily Is falling behind in its im- portance to the South. This does not mean that the cotton crop is not a very material factor in the prosperity of the country below the Mason and Dixon line, but there has been an overwhelming change in the relative lsmpol:unoe to other products of the jouth. Industry Goes South. No longer is the South a purely agricultural section. The industrial development has passed from theory to hard, solid fact. Today the value of the manufactures and mineral products of the South is more than twice the value of the agricultural output—and this despite the fact that agriculture in the last 15 years has leaped forward beyond anything the South ever anticipated. Between 1910 and 1925 the gvalue of agricultural products in the South doubled. Yet the industrial output raced far ahead. In the State of Georgla the statis. ticlans have figured that the cotton crop this year represents but one- tenth the combined agricultural and industrial output of the State. It rep- resents but one-third the agricultural output. Therefore it is easy to see the low price of cotton has no very widespread effect upon the people in general. In the State of Texas a remarkable change has taken place, reflecting the somewhat startling position of what may be called the new or industrial South. Within 15 years the value of ‘Texas agriculture has increased from approximately $430,000,000 to more than $945,000,000, with a 1926 esti- mate of $1,000,000,000, despite the low cotton-selling levels. 0fl Aids Prosperity. ‘Where agriculture values doubled, however, minerals and manufactured products increased fourfold and to- day outvalue the enormous agricul- tural values by approximately $300,- 000,000. A great deal of the mineral value is due to the vast Texas oil flelds, but these flelds, as well as the cotton flelds, spell the prosperity of the South. Cotton no longer is king. He has been reduced to a mere prince of the realm. ‘What is true of Georgia is true of the entire South. Cottton represents through the South at large less than 30 per cent of the agricultural values and less than one-tenth the combined agricultural, mineral and manufac- tured values. The figures are: Combined value of agricultural, mineral and industrial output, $16,- 905,000,000. Total value of cotton crop, $1,600,- 000,000. There is the story of the South to- day in a nutshell. The people of the country so long have thought of the South in terms of cotton it is difficult to get the impression out of their minds. The same thing is true of certain sections of the South. There are those who cannot see beyond their own cotton flelds. This is natural. They are a part of the old South, still raising cotton and nothing else, still having to buy all their food and other supplies “in town.” In the strictly cotton areas there is dejection. Some of it is expressed by the un- picked cotton in the fields. A con- siderabla percentage of this bumper crop will never be gathered. Georgia Raising Chickens. In Georgia they give you a very homely but impressive story of the changes which are occurring to de- prive cotton of its reign. In Georgia this year the value of chickens and eggs will reach $30,000,000. This is nearly one-third the value of the cotton crop of the State. It is esti- mated chickens and eggs will go to $50,000,000 within the next few years, and equal one-half the cotton values of this big producing State. Already Georgia has reduced within recent years her cotton acreage from 5,000,- 000 to 8,500.000. Like other Southern States, Georgia has gone in for crop diversification. Forty thousand cars of perishables have been shipped from the State this year to the consuming centers, with the apple, pecan and sweet potato crops still to move. In addition to her corn, peaches and melons, Georgia has become a tobac- co-producing State. ewspapers of the South are urging still greater diversification. The tre- mendous increase in the chicken-and- egg output in Georgia was stimulated by an egg-laying contest organized by the Atlanta Journal. The present overproduction and low price of cot- ton is leading to further campaigns for greater diversity. The industrial situation seems to be taking care of itself. The price of cotton may be low this year, but the South’s income in 1926 will break all records. “WIFE” DENIED WRIT; UNWED, JUDGE HOLDS Wisconsin Co-ed Claims She Was Married to Student, Who Disavows Wedding After Foot Ball Game. By the Associated Pres: MADISON, Wis, November 6.— Judge A. C. Hoppmann yesterday un- raveled a mystery probably just as intricate as the one that brought fame to Solomon, but his procedure was conducted behind locked doors and his technique will not -be made publie. Anna Jennie and Arthur Johnson were sweethearts at the Universityl| of Wisconsin in 1925. The couple at- tended the Wisconsin-Chicago foot ball game at Chicago last year. Shortly after their return to Madison the girl claimed she was Mrs. John- son, asserting she remembered foing through a marriage ceremony with her companion at Chicago. Johnson maintained he still was single and could remember nothing about any marriage ceremony. Miss Jennie brought suit for .di- vorce., Johnson contended that there could be no divorce because there had been no marriage. Judge Hoppman gave his decision vesterday. He came to the conclu- sion there had been no marriage. R YRR P A fall in the barometer after very calm weather indicates rains and squalls. Abe Martin Says: Another drawback t’ prohibition is that th’ “settin’ ‘em up” is too one- sided. A champion allus scoops th’ sport writers when he loses his crown. A new name fer th’ maiden blush apple is long overdue. Jake Bentley has sold his farm as he couldn’ afford it. (Copyrikht. 1926.) ARMAMENT REPORT PLEASES AMERICA U. S. Delegation at Geneva Expresses Gratification as Preliminaries End. By the Associated Press. GENEVA, November 6. — The American delegation to the prelimi- nary disarmament conferences Is leaving Geneva distinctly encouraged by certain aspects of the negotia- tions which ended yesterday with the framing of a complete report on technical questions. The attitude of the American delegates was expressed by Rear Admiral Hilary P. Jones, in"a final speech before the subcommittee. “After six months of discussion we all part good friends; better friends than when we met,” he said. “We all put into our report a great deal of earnest, honest work and we hope that it will afford the preparatory committee a basis for a reduction and limitation of armaments.” 1928 Parley Sought. A general disarmament conference in 1928, which would make some be- ginning toward limitation of arma- ment, is now the program of the statesmen close to the negotlations. The general belief is that a confer- ence in 1927, as desired by the last assembly of the League of Nations, is impossible because it is felt that consideration of the political aspect will not be completed, in time. The American delegation is par- ticularly pleased with the form fol- lowed in yesterday's report, Instead of merely presenting the viewpoint of the majority of delegates, as orig- inally contemplated, the report sets forth all the points of view of the countries interested in each particular problem. Much credit for this change in method and the consequent speed- ing up of the subcommittee's work 1is due to the intervention of Hugh Gib- son at the meeting of the preparatory eommission on September 2. Big Naval Powers Agree. The American delegation is partic- ularly gratified at the agreement reached among the great naval Pow- ers, who are opposed to the French thesis that global tonnage should be used in setting a standard for naval limitation. This agreement unites various methods of limitation in one problem, limitation by classes of ships. In view of the nature of the report, which revealed almost equal division on most questions, no group is likely to be called upon to make too many concessions, and this fact, it is believed, will help in providing a basis for profitable discussions by the preparatory commission. The report of the subcommittee now will be submitted to the various governments for study before the next meeting of the preparatory com- mission, whose date has not been fixed. ASHBY SNOW IS SUED FOR $450,000 BY GIRL Defeated Candidate Charged With Failing to Deliver Stock Holdings to Her. o By the Associated Press. SALT LAKE CITY, Utah, November 6.—Ashby Snow, defeated Democratic candidate for United States Senator, was today made defendant in a suit for $450,000, filed by Constance Clay- ton in the third District Court. Salt Lake City real estate and transfer of considerable stock is involved in the action. Miss Clayton alleges in her suit that the defendant failed to deliver 8,025 shares of stock in the Clayton Invest- ment Co. and the N. W. Clayton Co., to her following his purchase of the collateral from H. D. Brown of Los Angeles. Snow is alleged to have bought the stock for $400,000, assuming a blanket mortgage. The stock carries with it control of these two companies, whose holdings are estimated to be worth $1,000,000. ‘When she became of age, Miss Clay- ton says, she entered into an agree- ment with Snow to recover the stock from Brown. This was April 4 last. Less than four weeks later Snow ac- quired the stock, but has failed to deliver it to her. The suit seeks to force this part of the alleged contract. —_———————— GIVES BLOOD 100 TIMES. Frenchman Has Donated 5 1-2 Gal- lons to Save Lives. PARIS, November 6 (#).—The world record for blood transfusion by one person is credited to Raymond Briez, He has just submitted to the operation for the hundredth time. Since November, 1924, Briez has given 515 gallons of his blood for suffering human beings, without recompense of any kind except the satisfaction of having done a zood deed. Briez is 29 years old and devoted to outdoor sports. He entered upon {s carcer as a bloodgiver quite by alcident. While visiting a sick friend he heard the doctor say that the only hope of recovery was in blood trans- tusion. Immediately he offered.him- self. Briez is so strong and healthy that the operation has little effect on him. He continues work in his office ag usual before and after each trans- tusion operation. t; @ TRADING 1S HEAVY IN GENTER MARKET Big Receipts of Turkeys Like- ly to Cut the Supply Around Christmas Time. Chief interest in food supplies at this season is in the turkey market. Dealers anticipate a plentiful supply of the king fowl for the approaching Thanksgiving holiday season, but are unable to venture'a prediction as to the price that will prevail Thanksgiv- ing week. Information from sections of nearby States where many turkeys are raised indicates heavy shipments the first holiday season, aid it is deemed prob- able that the Christmas supply may fall short, Insuring high prices. In past years, according to dealers, heavy feeding of the king of the barn- yard was delayed because of high price of grain, which resulted in the turkeys not getting full size until al- most time for them to be shipped to market, but early feeding this season, due to low price of corn, has resulted in increased shipments much earlier than heretofore. Other Fowl Plentifal. Chickens, ducks, keats and rabbits, all expected to be fairly plentiful Thanksgiving week, will be in demand to supply the wants of persons un- able to invest in the larger and more attractive turkeys. Slight changes in meat prices were recorded during the week. None of them was great enough to seriously interfere with retall prices, however, the latter prices continuing about the same throughout the week. A firm condition of the butter and egg market has continued throughout the week, prices remaining high. Dealers are without definite informa- tion as to the prospects for a change in prices in the near future. Liberal supplies of apples continue to reach the local market, prices cov- ering a wide range. Supplies from nearby Maryland and Virginia have sold as low as 60 cents a bushel, fancy Northwestern stock bringing as much as $3.26 a box. Because of the low prices being paid for nearby stock, it is stated, some growers are refraining from gathering their fruit. Peach Season About Over. The season for peaches is about over, and recelpts are so small that prices no longer are quoted. Only a light supply of pears was reported this morning. The demand is light and the market dull. Grapes are in moderate supply, the demand being liniited an the market reported dull. Pennsylvania, New York, Maine and Michigan are sending supplies of po- tatoes to the local market. Supplies are reported light, however, with a moderate demand and steady market. Sweet potatoes, very plentiful and cheap earlier in the season, were re- ported in light supply today, making the market slightly stronger. Moderate supplies of string beans from the Norfolk, Va,, section and similar supplies of cauliflower from Long Island were reported. Liberal supplies of cabbage from New York and elsewhere were quoted at $25 and $30 a ton this morning. Only a few homegrown tomatoes are in the local market. Hothouse stock from Ohio, 10-pound baskets, were quoted at $2.50 and $3, some in poor condition selling as low as $§1 California lugs were quoted at $2.50 and $2.75. Buyers were out early this morning to get their pick of stocks for the day’'s trade, many getting supplies in time to satisfy the breakfast retail trade. Ample supplies of all foodstuffs ‘were on hand to meet demands, and, it is reported, trading was fairly brisk. Today’s Wholesale Prices. Butter—Fancy, one-pound prints, 52a53; tub, 50a51; store packed, 88. Eggs—Fresh, selected, 45a50; hen- nery, 50a55; current receipts, 45; stor- -Allve—Turkeys, 35; chick- White Leghorns, 23a24; roosters, 18; ducks, 25a26; 26a27; ens, fowls, young, 20; old, 15; keats, young, 50a 60; old, 84a40. Dressed—Turkeys, 40a45; chickens, 82a33; keats, young, 80a90; old, 45a50. Meats—Beef, 18a19; veal, 22a24; lamb, 26a30; fresh hams, 28a30; shoul- ders, 23a24; loins, 36; smoked hams, 83; smoked shoulders, 20a22. Live stock—Calves, choice, 14; me- dium, 13al14; thin, 7a8; lambs, 13. Fruit and Vegetable Review. Today’s market report on fruits and vegetables, compiled by the Market News Service, Bureau of Agricultural Econemics, says: Apples—Supplies liberal; demand light, market steady; boxes, North- western, medium to large size, extra fancy Delicious, 3.00a3.25; extra fancy Jonathans, 2.00a2.25; extra fancy Spitzenburgs, 2.26a2.40; extra fancy Staymans, 2.10a: bushel baskets, Maryland and Virginia, No. 1, various varieties, medium to large size, 75a 1.00, few 1.25; Maryland, No. 1, Stay- mans, 2% inches, 1.00; 2% Inches, 1.25; New York, Kings and Twenty-Ounce and Rhode Island Greenings, A 2% inches up, 1.0021.26. Cabbage—Supplies liberal; demand . moderate, market fairly steady; New York, bulk per ton, Danish type, 25.00 30.00. Celery—Supplies moderate; demand moderate, market firm; New York, two-third crates, 2.50a3.00, few 8.25, mostly around 2.75. Grapes—Supplies moderate; demand moderate, market steady; New York, 12-quart climax baskets Concords, 50ab5, few low as 45; Michigan, 1 quart climax baskets Concords, 45a50, few low as 40. Lettuce—Western supplies moderate: ‘Bastern supplies light; demand moderate, market steady; California, crates, Iceberg type, 4-5 dozen, 2.75a 8.00, few higher; Norfolk section, Va., -dozen crates, Boston type, fair quality and condition, mostly 75. Onions—Supplies light; demand moderate, market steady; Michigan, Ohio and_ Indiana, 100-pound sacks, yellows, U. S. No. 1, large size, 2.10a 2.25; medium size, 2.00. Pears—Supplies light; demand light; too few sales to establish market. Potato Market .Steady. Potatoes—Supplies light; demand moderate, market steady; Michigan, 150-pound sacks Russet Rurals and Pennsylvania, 150-pound sacks Round Whites, U. 8. No. 1, 4.75a4.90; few 5.00; New York, 150-pound sacks Round Whites, U. S. No. 1, 4.76a4.85; few lower. Sweet potatoes—Supplies moderate; demand ‘' moderate, market steady; North Carolina and Maryland, cloth- top stave barrels Yellows, No. 1, 2.50a 2.75. Cucumbers—Supplies very demand light, market steady: Florida, 74-bushel hampers, fancy, 4.50; square bushel crates, fancy, mostly 5.00. Eggplant—Supplies very light; de- mand limited, market steady; Florida pepper crates, fine quality and con- dition, 5.00. Squash—Supplies light; demand light,"market slightly weaker; Florida, pepper crates, 4.00a4.50; few low as 3:50; few fancy, 5.00a5.50. String Beans—Supplies moderate; demand moderate for good stock, mar. ket dull; wide range quality and con- dition; South Carolina, 5-peck hampers. green, bushel hampers, green, best mostly 2.50a3.00; poorer low as 1.50. Caulifiower—Supplies liberal; de- mand light, market firm; Long Island, crates, 1.65a1.75, . .MEN AND MONE By M. S. Rukeyser (Copyright. 1926.) Peanuts and tobacco will mitigate the adverse effects.on the fortunes of Georgia of the recent drastic decline in cotton prices. H. Lane Young, executive manager of the Citizens’ and Southern Bank of Atlanta, takes the view that the seri- ousness of the setback resulting from the slump in cotton has been exag- gerated. “About 40 per cent.of the Georgia cotton grop,” Mr. Young informed me, “has already been marketed, leaving something like 60 per cent, or 900,000 bales, In the State to be gathered and stored, and I think it will be the dis- position of the farmers, who will be encouraged by country bankers as well as the city banks, to hold a large ma- jority of this 900,000 bales for an in- Qefinite period. I do not think this will cause any freezing of bank loans in Georgla for the reason that the sale of the first 600,000 brought Geor- gla better prices than prevail now, put- ting the farmers in comfortable cir- cumstances. This has been true be- cause Georgla for 10 years has been diversifying crops, and, consequently, is now producing only 40 per cent of its‘previous cotton production. Big Crops of Peanuts. “Georgla is now raising large crops of peanuts which are selling at $100 a ton, agalnst $76 a ton a year ago; the tobacco crop this year brought $20,000,000 into the State; we shipped 16,000 peaches; we had a watermelon crop that sold for good prices; we are now making the largest crops of apples, hogs and sweet potatoes ever produced in the State. In addition to these, chickens, eggs and dairylng have become large industries in_our State. All of this was brought about by diversification. “It is our opinion that the slump in the price of cotton will materially and definitely facilitate the move- ment not only in Georgia but throughout the South to rotate crops and further diversify. The outlook in our district is entirely satisfac- tory, and we see no reason why re- tail trade for the remainder of the year should not continue to be good and the prospects for good business for the first part of 1927 seem as- sured.” Asked whether a special Federal revolving credit such as has been pro- posed will help to provide the funds needed to withhold cotton from the market, Mr. Young replied: “The banks of Georgia are amply able to carry the entire balance of the cotton crop for its customers for an indefinite period of time without out- side assistance or new financial ma- chinery.” . Opportunities for Capital. Queried concerning the opportuni- ties for Northern men and capital in the Southeast, the Atlanta banker de- clared: “A great deal of outside capital is coming into Georgia for development of hydro-electric power plants, cotton mills, clay product plants and other things, but, of course, we would like to have a great deal more as the raw materfal and other facilities are here in great abundance. It is my opinion that no other part of the United States furnishes the opportun t is now being held out by natur sources and otherwise as Georgla and other Southwestern States for men who are willing to work and for cap- ital seeking investment. “Our building movement is going along in a satisfactory way, but housing facilities in the rural districts are hardly adequate for keeping pace with progre: A cheerful picture of a section temporarily disturbed by an unfavor- able turn of the wheels of chance at the Cotton Exchange. Trend in World Economy. The world is turning. toward greater uniformity in sharing prosperity and depression, according to Dr. Wesley Clair Mitchell, leading authority on business cycles. “A trend in the direction of a world economy, in which all nations will prosper or suffer together, is discov- erable today,” says Dr. Mitchell. “Probably the nearest approach to a severe worldwide crisls was dominated by post-war readjustments. It is clear, however, that a financial erisis breaking out in any country of commercial importance produces finan- cial strains in other countries and that even mild recessions spread widely. “As American business is coming light; | to have one story, diversified by agri- cultural episodes, so, before the war shattered international bonds for a time, world business seemed to be ap- proaching the time when it too would have one story, diversified by political and soclal as well as agricultural epi- sodes in different countries.” THE BUSINESS OF GETTING AHEAD. What Makes a Good Executive. Apart from movle stars, executives are the best paid hired men. * Corporation and bank presidents of first rank command salaries of up- ward of $50,000 a year. Some of them, particularly those who have a share in profits, e considerably more, Purely executive work is a relative- Iy mew function in business, growing out of recent tendencies toward -pe- cialization. Before the industrial revo- lution, the boss was supervisor, pro- ducer and fellow worker, comb ning all the functions of business in a sin- gle office, What is an executive and what does he do? Henry L. Doherty, who heads mora than 100 public utility and oil com panies, once. said that an exccutive should never do what he can get some one else to do, but should always keep busy. Must Obtain Co-operation. The essential task of a chief exesu- tive is to get the entire personnel of an organization to co-operate for the attainment of common nhjectives. 1le should decide what the goals are, and keep them continuously before his as- sociates. As long as his department heads conform to the major policies he should give them great freedom :n working out the detalls, but ha should reprimand them when they go nff on tangents. When an executive has buflt up a smoothly - functioning machine, seemingly has little to do. He agts as stabilizer and reconciles the ten- dency of each speclalist to overem- phasize the importance of his particu- lar work. The able leader, however, is more than a passive supervisor of the work of his subordinates. He is not neutral, but is _enthusiastically behind his aides. He actively encourages them to proceed wisely and creatively. He stimulates experiment, and is sympa- thetic when honest errors are unin- tentionally made. He initiates ideas and policies, but | he does not attempt to run the busi- ness singlehanded. He does not seek to convert department heads into automatoms, but welcomes initiative and enterprise on their part. He is available for consultation by his subordinates when important m: ters arlse. When a decision is needed, | he never fails to assume the responsi. bility of giving a clear-cut The swiftness with which d can be given frequently determines the success of a corporation. Scatter- ed ownership frequently causes costly delays. nawer. The president frequently must con- sult the directors, who In turn some- times look te the bankers for guid-'i w nade | in 1920, and that case was obviously | he | ance. Meantime, the opportunity to take advantage of a situation passes. One reason for the spectacular im- provement of the earning power of the Nickel Plate Railroad in the last decade has been- the passing of con- trol to two brothers, O. P. and M. J. Van Sweringen of Cleveland. As a result of this concéntrated control, the Van Sweringens have been able to pass on any matter of importance which come up within three days. Incidentally, the Van Sweringens i have revealed themselves as excep- tionally able executives. As the owners of control of five raflroads, of the Cleveland terminal development, of a local rapid transit line and the Shaeker Heights' *district in Cleve- land, they are called upon to make a wide variety of important decisions. Many wonder how they can keep in touch with so many matters. The explanation is that they have subor- dinates prepare all the relevant in- formdtion on a matter that comes before them for decision and or- zanize It so systematically that they %an readlly, with full knowledge of the facts, give a “yes” or “no” deci- sion. If they falled to trust others and did all the fact finding- for them- selves, their fleld of activity would necessarily be greatly restricted. The essqrice of an executive is the abllity to co-operate with others instead of playing a lone hand. Napoleon, who was the forerunner of the executive type, used to say that his role was “organize, deputize and supervise.” FARMERS’ INCOMES - NEAR LAST YEAR'S Average Yields Are Reported, With the Exception of Apples, Wheat and Cotton. By the Associated Press. Except for some depression in the Spring wheat and cotton sections and | in the apple industry, said the month- ly report issued by the Department of Agriculture, “the season wWinds up | with about the average crop yields |and a probabllity of gross financial | returns not far from last year's figures.” . Purchasing power of farm products | was placed at 83 for September, the same as August, with the average of the five pre-war years fixed at 100 for purposes of comparison. ‘The South was described as not without resources for meeting the present situation, brought about by a record-breaking crop, and rarely had the farm and business leaders of any large region, the report said, met an emergency in so “united and compre- hensive a fashion.” “Cotton is good property,”. the re- {port added. “The consuming world can and will use a lot of it this year.” In the Spring wheat belt a strip of territory extending from central North Dakota through South Dakota to central Nebraska was sald to be facing a ‘“lean Winter,” due to irought and generally bad weather. South Dakota, the report said, showed | the lowest general crop condition in the courftry last montth, only 56 per cent of average. Other local areas of flood, drought or frost damage claim- ed some attention, but they were less extensive. Hog cholera, which is “showing up with rather serious losses in some counties of Tllinols and Iowa,” is ziving producers considerable con- cern, although it was pointed out “general underlying conditions in the corn belt are better than last year. “Corn prices are slightly higher, but still enough to encourage feeders. Hog prices stay relatively high, and reports indicate a materially larger crop of pigs in prospect this Fall.” MARYLAND MORTGAGE INVESTMENTS LARGER Special Dispatch to The Star. BALTIMORE, November 6.—Mort- gage loans of the State banks in Mary- land increased $1,414,103 in the three months elapsing between the State bank calls of June 30 and September 30. In_fact, the investment of local State banking institutions in this | class of security has been steadily on | the increase. On September 30 such | investments totaled $37,789,142, com- pared with $36,375,038 on June 30, and $22,047.098 on December 31, 1921. On the other hand, there has been 2 tendency to cut down investments in stocks and bonds during the past year or so, or, in other words, to take advantage of the relatively high prices the stock and bond markets have offered. At the end of September in- vestments in stocks and bonds totaled $99,757,436; on June 30, $100,629,888, and on the same date last year, $101,793,136. RUBBER SUPPLY ASSURED. NEW YORK, November 6 (#).—An | adequate supply of crude rubber is |assured American manufacturers for | the next six months through the new | British restriction regulations in the opinion,of . H. Henderson, president | of the Rubber Exchange of New York, | who sees no appreciable decrease in | shipments from the East until March |or April next vear. The available terms | of the entire restriction action indicate |a marked amount of liberality for the next few months, he asserted, the ulti- mate effect on the rubber position be- |Ing largely dependent on the world's | requirements during 1927. TERMINAL IS OH-‘E—BED. NEW ORLEANS, La., November 6 (Special .—The Illinois Central Rall- road officials have submitted plans to the c¢'ty authorities under which they agree to spend $4,000,000 in canstruc- tion of new passenger terminals and a new station in New Orleans provid- ed the city will close a few streets, 4 BUSINESS AGTIVITY SLUMP IS NORMAL Collections Slowing Up, But Money Is Not Tight—Build- ing Holding Up. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, November 6.—Collec- tions are slowing up. There is plenty of money available. Merchants and manufacturers are Iin excellent po- sition to pay their bills. There is no tightness in money. But the volume of bills being discounted has dropped off, according to information tele- graphed from various sections of the country. This is not due to slackening of em ployment, shayp declines in industry’ or diminution of buying power. It is the result of a determination to pro- ceed with caution. This trend bas been brought about artly by the de- sire to determine finally the situation in the agricultural districts as it will affect the remainder of 1926 and the Spring of 1927, It also is largely sea- sonal. It is customary for business to halt a bit at this time rather than en- danger the records of the current year or imperil the prospects for the com- ing year by too precipitate action. ‘Retail Trade Good. In general, retail trade, that most reliable of business barometers, {s " Holding up well. Building activity has been maintained at a far higher pace than was anticipated by most authorities. The steel industry I8 splendidly supplied with November- December orders. This fact was em phasized by the optimistic statements of one of the Nation's big steel men during the week, although men in other lines are prone to discount too much optimism from big baslc com- modity producers. g Trade authorities say, also, that No- vember nearly always shows business activity about 5 per cent smaller than in October, so that some recession in . trade activity Is normal and expected Automobile production continues to show a slight downward trend, al-s though some factories are on a capacl ty basis. More soft coal is being mined than for many months, prices have jumped as high as $10.50 a ton in - New England, wages have been ad vanced sharply in Pennsylvania, Maryland and Virginia and West Vir ginfa fields, and demand still con - tinues from abroad Petroleum Position Weaker. The position of petroleum has weak ened. Production has beem extraor- dinarily heavy, and new fields, such as the Spindietop, Seminole and Pan- handle, are producing at about the peak of the year. Consumption {is heavy, and stocks are smaller then a year ago, but gasoline and crude prices have been cut this week in some localities. Demand for clothing has shown im provement, and the volume of sales is large. This extends even to goods for next Spring. Naturally this, along with cheap cotton and wool at present prices, has stimulated the textile trades in many sections. Repeat or ders, especially for men's wear, are now coming in from retallers in fine volume. Lead and Zinc Firmer. Lead and zinc have commenced to show strong resistance toward further price reductions and_the position of each has been aided by good sales and active demand. Copper is still in the doldrums since . , producers are not anxious for busi ness at present prices. Building per mits have slumped in volume, but there has been no diminution in con tracts let or in work on present proj ects. Lumber production and em- ployment is droppims somewhat in the Northwest. Cotton stored at New Orleans and other Southern ports is piling up afarmingly, owing to lack of vessels to carry it abroad. All warehouses are expected to be filled soon. The beet harvest is ahout over and sugar factories are shipping, but the returns to farmers have not been all that was desired. The Louisiana cane erop will be in full harvest next week and growers have contracted to sell large quantities of sirup at prices a shade higher than obtained last year. The crop, however, is the smallest ever produced. . INTEEVENT‘ TON PERMITTED. Orders were issued today by the In terstate Commerce Commission per mitting a number of interventions in the proposed consolidafon of the New York Central with the Big Four, the Michigan Central and other of the New York Central's subsidlaries. Those permitted to intervene included the Ohio Farm Bureau Federation, the Ohto Public Utilities Commission, the Athens (Ohio) Chamber of Commerce a number of coal miping companies and a committee of thé minority stock holders of tha Cleveland, Cincinnati Chicago and St. Louis Railroad. LAUNDRIES MERGED. NEW YORK, November 6 (P).— » Formation of the New England . Laundries, Inc., to consolidate several laundry properties with plants in and around Boston has been completed and is expected to mark an evolution in the New England industry through’ development of power laundry, ap- plication of machinery and large scale production as the successor to* home methods. Acquisition of the former Winchester Laundry and sub stantfal ownership of the Lowe Ma Co. will be acquired. th & Fla. 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