Evening Star Newspaper, August 5, 1927, Page 12

12 THE EVENING STAR. WASHINGTON, D. €, FRIDAY, AUGUST 5 RALROAD NERGER PLANSGOFORNARD |__. e Congressional Initiative to|aiscussea the importance o the EVERYMAN'S MUTT AND JEFF —]Jeff’s French Seems to Be Perfect. BY BUD FISHER INVESTMENTS BY GEORGE T. HUGHES. JEEE, T'VC GoT THG Phone AUMBCR OF THOSE Two DAMES WG MGT AT THG RITz LAST NIGHT AAD I'm GoNNA GIVE THem A BuU22! LET Go THAT, PHONE ~ T can SPEAK . | figures on the size of brokers’ loans Set Ball Rolling Is Expected in the Winter. BY J. C. ROYLE. Bpecial Dispatch to The NEW YORK, August 5.—Pressure will be exerted on the Interst merce Commission to further pro: on the proposed railread cor tions according to all present indic tions. It is likely that this pressure will take the form of some sort of congressional action when the House | and Senate assemble again rext Win- ter. In the meantime, plans a dozen groups of carriers 4 fire and are as potentiall as a Fourth of July firecracker which has failed to explode. For a time it seemed to many of the railroad men that little could be | p: accomplished toward the completion of many mergers without distinctly new legislation. Regulations with en acting clauses which would enable either the Government officials or the | o | in evidence for several years back. In - | hardly any line is there any forward rallroad executives to go ahead we expected. It was learned tioned authority today, how the heads of some of the la tems involved in the more importa tentative mergers prefer that action shall come under the regulations al- ready laid down rather than under new legislation. That would leave the affair still in the hands of the Inter- state Commerce Commission. Inquiry Is Expected. The Imterstate Commerce Commis- slon, however, is practically certain to be called on through a joint resolu- tion of the House and Senate, or a res- olution of the latter body to tell what it has done in the furthering of the mergers, and what it purposes to do. It is not forgotten that the whole tentative merger scheme and- the grouping of the roads was the pet child of the Interstate Commerce Com- mission itself and that body therefore should be in a position to further the plans most effectively. Railroad men assert that all the commission has done so far is to say “no.” The Commissioners have con- midered plans and have returned that answer without specifying what fauits ‘were found in the plans or why they objected to certain measures. The men behind prospective mergers add that no constructive suggestion has come from the commission to aid them in bringing the various roads under new groupings. It is hoped that a request from Con- gress or from the Senate alone will lead to an attitude permitting sugges- tions of such a_ sort. Undoubted the political world is watching closely for something constructive from the commission, since the merger sponsored in 1921, by the comm itself, is regarded as an administr tion policy and one of those in which adherents of the administration look to see constructive progress made. Opponents of the administration make ‘no secret of the fact that they do not intend to pass by the situation of nothing constructive is accomplished before the next campaign. The matter, according to financlers ;and railroad men, has a distinct bear- ‘ing on the-{nvestments of hundreds of thousands of people. Affect Stock Values. The merger possibilities of certain roads have been so stressed as to at- fect railroad investments and the price of railroad stocks. Those mov- ing for a merger say that unless ,something is done soon many merg- ers will be financially impossible, ipince it will become too costly for a central system to buy or acquire con- trol of a minot line incident to the consolidation plan. Some of the heads of the great Eastern systems concerned in pro- Jected mergers have talked things over informally emong themselves. ‘What they really would like is to have - | vancing prices. as an index of the market position. Another statistical report which Wall Strect gives the greatest attention is the unfilled tonnage statement of the United States Steel Corporation. Once a month the total of orders on the books is announced, and as this sum goes up or down so traders appraise us of the steel industry. When the amount of unfilled orders ses it is regarded as a sign of usiness activity in this great key in- | dust Conversely when the amount falls off the indication is unfavorable. | Interpretation of the unfilled tonnage adays, however, must t present-day tend- iness. Consumers have ze degree what is known outh buying. There is not nea much forward ordering as there used to be o decade ago. The reason for this is to be found a n the experience of 1921, when | business men lost huge sums by the slump in prices of articles they had hought for stock. Partly, also, it is the result of the sagging tendency in | commodity quotations that has been buying based on the prospect of ad- One other factor enters into the matter, and that is the efliclency of railroad transportation. Buyers know now that their orders can be fllled with a minimum of delay. The result is that the falling off in the steel un- filled tonnage statement is not as dis- couraging as it used to be. Neverthe- less the figures are closely watched, and they still have value. COAL BUYINEi EXPECTED. BALTIMORE, August § (Special ‘Buying of soft coal in quantity is pected to set in within six wet according to local operators. The basis for the bellef that the corner is about to be turned is the fact that stored stocks are being de- pleted at a rapid rate and the further fact that weekly production is run- ning 1,000,000 to 1,500,000 tons under consumption. Reserves of soft coal above ground at present are estimated around 50,000,000 tons, a reduction of about 25,000,000 tons since union miners went on strike April 1. POTATO MARKET DULL. CHICAGO, August 5 (#).—Potatoes —Recelpts, 33 cars; on track, 155; total United States shipments, 630 s; trading rather slow, market : Virginia barrel Irish cobblers. 4.00a4.15: Kansas and Missouri sacked Irish cobblers, 1.90a2.05. ey Files Bankruptcy Petition. Charles W. Edwards, describing himself as foreman of a composing room, yesterday filed a petition in vol- untary bankruptcy. He lists his debts at $9,605.95, and gives his assets as $25. Attorney Mark P. Friedlander appears for the bankrupt. the Interstate Commerce Commission say to them: “Bring in a plan and map by April 1, 1928, which will show what you can and will do in the way of consolidations and on which you can all get together on some practical basis. We then will analyze and criti- cize this map and plan, make con- structive suggestions and tell you what we will agree to. If you do not bring in such a plan and map by April 1, we will show you a plan and map which would seem- to fit the cir- cumstances and see what we can do to secure your acceptance.” It is regarded as unlikely that the commission will go so far as the statement above, but it is at least ex- pected to outline what its demands are and what it intends to do to fur- ther their acceptance. 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