Evening Star Newspaper, November 16, 1930, Page 42

s Baip th El _4 FACTORS INDICATING BUSINESS RESUMPTION Man in Street Fails to See Conditions Are in Better Shape Than in 1929, Says Writer. (Continued From Pirst Page.) —minus the ce wheel—has ys been of of the daily ot qm:fiuo.‘n ini Dewspapers, no minus wn_the corners of their first-class funeral ex- whine about bad business. market does not, never never will discount actual busi- tions. All it can do is to dis- public’s knowledge of con- discount the opinions of express their convictions on tape through or sell- has il ég £ g ¥ it was contended that the =0 i i i discoul of affairs. Now the of business statistics public has changed and last year the mar- did not discount condi- ) z the corresponding months last year. In glving proper weight to this figure, it must be taken mnddsrmx fin it is comparing present earni n'ugeflnd ofl l‘:'t:‘:u activity end not normal ess, Conservative, efficlent hoards of direc- tors, under ordinary conditons not con- nected with speculation, do not vote to distribute corporate profits to stockhold- ers unless their companies lr:‘&mm ous. When there is so much al depression, reduced mulgmochcduk' and vanishing profit margins, for & board of directors to inauguarte divi- dends on a stock sems to be almost beyond the realm of possibility. But in the eight months ended with A it the number of initial dividends declared reached the astounding total of 433. In the same time there have been 77 increases :n ‘r tes of gtxbuhn:fl)?ent. Mute proof of prosperity which we have n%t been able to see through our indigo specs! Btock dividends and “extras” are as- sociated in our minds with capacity operations, expanding sales and soaring profits. In mi:.im they hu}: becoxnefl:o synonymous with co; prosperity that by close students of the securities markets they are considered danger sig- e | Dals in bull markets. In the first eight months of 1930 there have been paid 727 extra dividends, and stock dividends have reached exactly the same total. But the thick blue film on the glasses of the man in the street obscures this g H i failed to reflect them ailed hopelessly behind. down very definitely middle of the year, yet the t continued merrily on its until early in September much of a decline ] fess $-5:4 i 8t it it i EE 2 E i E‘ nfi.g Ragf i i 4 £ &‘ Ei K i it | i iH i 8 ! ¢ 553 3 £ B 1 i s 5 i §§§3 B i i g i i E il i) ol i Iy Lk B i f ¥ £ impressive total of 1,454 extra and stock dividends. Stock Dividends Increase. A comparison of these figures with those for the corresponding period of makes them even more surprising. In the same eight months of last year extra and stock dividends totaled 1,463, or just nine more than in the first eight months “%l this {e':.ex mmthemumemm corporations must be pros) or many lirectors have parted from safe, con- -erv“ lfiv;"blnln&l pdlcwlem If there not_exist a _corporal soundness of financial lated by the man on the street, there will be y i lation covering the first nine the year shows total cash dividend disbursements were more than 8,600,000,000,, an increase of about s i e same period et Seur same year. ds strange, doesn‘t it, to hear this kind of news now, in a year of depres- slon, when it is usually employed pools at the top of the market as bu ammunition decline exports and yet raw cottbn exports 'm’:h.huvlst lor ] ¥ g € - il ?Eegi E T quzz i ocery companies now reports les both ways, in dollars and actual volume. Jn a recent period its sales were 3.26 per cent larger in dollars more than 14 per cent larflg:‘; in tonnage, than in the same pes of 1920. This is iHustrative of how de- ceptive & business index can be when 3 3 E terest in dollars without mmrmdulmmem & and retall prices. These factors must be taken into consideration in in- its | terpre! properly many of the busi- s 5 i [ i f ;E 5 i E g,fi il i £ £ : o ented in dollars, such ividual accounts, bank t store sales and are related to goods as debits to clearings, dej all others wi and materials. improvement in business activity, when it | the generally accepted indices are cor- rectly interpre in the light of changed conditions it is found that in many lines the actual volume of goods eb.m;ln{h compares very favor- ably with normal and even with last in various instances. Large Tonnage By Truck. In freight car loadings, which at the present time such a sorrowful showi an have caused some of the meters of business to fall below the ral even for long-haul traffic. me':;theu hunow;ynl me; . sucl index were nvlllnblen.l{e'eula lerve.filt; reduce very materially the falling off in freight movement shown in car f resume of the present business I While there is plenty of room for |stand in alarm A e B L Mg fi Where Is America Going? James J. Davis, Secretary of Labor, Declares Workers of Country Form Strong Foundation Stones BY J. P. GLASS. full benefits that will by which our country for educstion. “Of course “i’lt latter is contingeney, for the worker, is thirsty for more knowledge. requirements, his fellows—the work: research 1la) d.uuehnhl, B R ve 80 mdul!mdomflluthehbl;nhnu who shouts. sifie iilaee If a story in the Mexican El Porvenir can be & criterion, then United States is the world’s most musi- country. “Musical activity,” ac- H i !’gg Egggggégifi i ‘The aucient scourge of leprosy is intensively studied in Hawall with num- EEES i E%Eg i i g i E i £ i i : : i i i g g renewed, is to provide us with management never far removed in sympathy from the rank and file, Tbn\hn:'nlmtdnlotmmhnmt mmm“:udnng“gmmmgm and which must bear so uj trends of the future. o “But how about those who do not JAMES J. DAVIS, WHO HOLDS THE COUNTRY IS SAFE WITH LEADE‘IRLSF!.”P RENEWED FROM THE RANK “Granted that the radio spreads wide a great m they aspirations. deal that is useless, it still is a tremendous in- fluence for good. For myself, I do not regard it as & means of amusement, but as an agency for information and education. It affords me the best in music, ad IN LATIN desire 1ehd- ‘who remain the rank and file? I “They,” sald the secretary, “are the cautious judges of the men who lead the way, and from wl differ little execeg: in the matter of ‘They desire to than in the most boundless rewards of ener- getic ambition. “They regard plans for progress Judicially. It an idea is good they accept it, for they want to forward. But their approach is cautious. y object to retreats, and so they attempt to avold mistakes.” AMERICA By GASTON NERVAL. POLITICAL PSYCHOLOGY. YCHOLOGY 1s indeed outstand- znea If we consider ferent people t phenomens we would have the clue to a far better understanding of political We may all have had common an- cestors and similar ings; we may all have come from same original being—call him Adam or a monkey, acco! to whether you believe with the B or with the author of Dar- winism—but the fact that after 8 few thousand years the human today is divided into as many diffe wlnu!thh&n;ufiamugnmon beel m’heeo( earth. , history, g and social phic influences, economic have @ former high executive of this eoun- try, in a syndicated article, listed that supposedly anti-American sentiment as one of the issues behind the Latin American upheavals. And yet today that same adminis- tration which was alleged to be fear- ful of American influence calls on one of the most wuunmmeflmn economists to help in the cial re- htmllm:.lflnn of Peru. sll contributed to create this marked | of variation in psychological reactions iy e Bt o o BB of peop ersf e atti- m:lnd vior of people of other The average American newspaper reader regards not only with surprise mm-mmmrmmm brother should pursue RS T g refer the . | to_that of ots in political dissatisfactic lon. FIND WAY OUT AT POLLS. to American experts the solution of their financial problems. Confidence is the basis of international good will. CAUGHT IN HIS OWN TRAP. Politics plays queer tricks upon Latin American politicians—in faet, upon politiclans everywhere. But if politics demo- | are fickle and contradictory all over the nl; few days 3 world, as I said ol yl;; myu‘fiz 4 conditions resulted the other side of the Rio Grande in four major reyolutions. The same ele- ments here have just brought about an electoral defeat of the party in power. 2 That is to say, the same popular reac- tlon which required the use of guns in Latin America found & way out here through the polls. . It is true that in the former case an even greater issue was at stake, that of individual liberties, these having been restricted by the governments recently . (ousted from power. But even without is | the eable re] are 1 servative, less tolerant, less lenient in politics. The prol for instance, would have caused a revo- lution in any Latin American country ago. . | ton Luis, hel they are ex America, In this same column I had occasion comment last week upon the change that the latest Brazilian political events had brought upon the fortunes of two men prominent in them. While only & ago President Washington Luis ing bitterly the candidacy of Dr. Vargas and denying him the ivilege of making his political 8 es in the public forums of the Brazillan capital, ‘month finds Dr. Vi entering Rio de Janeiro in umx, amidst wild npyhun from Ehe b Presiden, ;huqf\h?‘u o i er in Copacabana fortress, 13 in hands of the new Brazilian leader. Another incident, of which I read in ports, now adds an ironical touch to the situation, This cablegram from Rio de Janeiro states that the re- course of “habeas corpus” invoked by the distinguished prisoner of Copaca- bana has been denied by the supreme court on the Twnfl that the “state of " (martial law) decreed by Presi- dent Luis himself before the triumph of revolution, suspended individual rights and all un%a year was g%s i i i Eiii s:im (Copyright, 1930.) beral party, now in power, sweeps the country by & votes. The followers u(lge'n:fi?m today President of Nicaragua, yesterda: leader of the Liberal revott, win in all the important districts, (Copyright, 1930.) Huge World War Debts To Take Center of Stage (Continued Prom Pirst Page.): other countries where interest rates are low but the interior situation ap- pears more secure, like France and the United States, have more gold than they know what to do with. French banks, for example, had $250,000,000 invested in Germany in short term Joans, but since Adolf Hitler's success in the elections, they , |have withdrawn $150,000,000. Ttaly would like a loan from Prance, bu ithe political tension between the tw% countries make it impossible. France, as already sajd, now holds one-fifth and the United States two- fifths of the world’s monetary gold. In other words, some countries have too much, others far too little of the prec- lous mull: for, the general ugh careful study of this credif situation, it is felf, logemln‘ : to quiet the needy count th: case, l’:e yet earn popular favor the name BP Wozoud for it, namely, the PUBLIC LIBRARY ac lons ist: Beir Nicohall.u ter, S E-14354p. Care of Children. American Academy of Political and w Science, 7.3‘"‘8;{!’5“‘ Post- !g:!-.?ml:’w’b. Welfare, MacDowell, Margaret. Begin- nings in the Training oxph entall; “onaxecu;a ghflm li%l. -M 14, Placihg-out. 10-rse oo w0 Home Economics. Ellis, P. I Americanizaf ‘Throug] Home-Making. RY-%DB'.‘ i of. ex- | Kauffman, T. Borrow, George. Wild Wales. 1928 (Everyman’s Library.) G44-B847a. M. L. Uncle Sam’s Attic: The timate Story of Alaska. Aeronautics. Clev , O. P, 3 énfiflm Modern Flight. 1928, 3. O, H._Everymsn's Book Fiying. SZ-K7S. " i Fiction. u.: Eiker, Mathilde. My Own Far Towers. mn, Music. Tences. mflt'fi,‘ Ugni Success. Tahmann, Rosmond. & Note in . Lucky Law- I be the real representatives of the Nica- =mmdl RUSSIANS PRACTICING SABOTAGE FOR TRADE While People Are Deprived of Necessi- ties at Home Country Sells Cheaply in Other Nations. (Continued From Third 3 the troubles of the civil war, and the Finns ‘were not ulonu:;& prepars below :flhké:' 3 ds of that country. i e nees \ wa e ENE o wi ver may had their reduce purchases m Tl b o e i o SRR SR B S eir case. o f sne e a.-.m= e tym Britain and the -wood, Ex- the sausage casings market and slashed leecee with such effect that American 1 middles which had been selling at | beginn! $11.25 per set fell to 60 cents. Suddenly the Russian supplies dwindled to an al- | terest cough 0" geep prices. e below thel enoug| ices wel former levels. ol -flésa' { £ if : i Ex E i il ?ési e : §5EE ghagil s rins Irsly [ ; I i i i France Holds Favorable Position Over Italy in Unsettled Europe s ] f (3) ] tion until one party was defeated. of the that the 2 kel bl give the European assur- ance it 'ufi - sult .&a ugrhh m’fiw