Evening Star Newspaper, October 7, 1931, Page 12

A—12 2USSA AN CHI A U.S. EXPORTS Trade With Two Nations| Shows Increase for Three Months. Russia end China are now buying more from the United States thap in the past, while most other nations show | declining purchases in this country. t statistics s imports from the $2,966.160 greater d t th the; ing June, Jul were in_the corre- | 193). The Chinese was $2,538.457. Shipments to Russia totaled $25408.- | inst $22.442816 a shipments were 18,336.119. The gain_cam ump in the early months ‘Then the totals in man s wer about half of t befol wa. d in ment circles, to tae fact that Ru purchases have been largely machine needed in the five- Much of this demand has been supplicd. hile shipments to Russia and China | increased during the Summer month: American imports from those countrie dropped off heavily. | Our purchases from Russia during 21, compared | From China against $27,- ,108 last ve $17,955,816, e months fol- ; The figures for the t! low: Exports to Russia, = i Imports From Russia. i : | | June $2778238 $1.402.560 uty 2081580 1120.004 August 2:116.200 51 Total ............. 56.076.108 $3.262.321 Exports to China, s . $6.834.955 quly 6.300.143 August [ 5201018 Total ... $18.336.119 $20.874.504 Imports From China, | June J 64 $7.457.601 | July 07 5.934.248 | 67 4563.060 | . | Drifted to Iceland. A bottle thrown into the sea off New- foundland from the steam: Pata- | gonier on October 12, 1928, was_picked up on the beach in Southern Iceland in December, 1629, after more than a | year'’s voyage. But a bottle thrown overboard in the Gulf of Mexico alsa reached the skores of Iceland, but it took only a little more than one month to make the much longer journey via the Gulf Stream. . Everybody’s Business Eyes of World on Washing- ton and Feeling Is Gen- eral That President Hoo- ver's Announcement Will Be Constructive. BY DR. MAX WINKLER. NEW YORK, October 7.—Once again the eves of the world are turned to Washington. There is a general feeling that _the much-talked-of announcement by President Hoover will prove far- reaching in nature and highly con- structive in character. The effects should be as salutary as and much less ephemeral than those of the manifesto which emanated from Washington last June. The securities market responded with 8 substantial rally, which was greatly helped by the absurdly low levels to which most shares have falleh. Shares were especially strong, with the im- provement in bonds, except in isolated cases. somewhat less impressive, Al- though almost spectacular in character, the advance appears to be somewhat more genuine. The problems with which Washing- ton has to deal now are many and varied. There is. first of all. the Amer- ican banking situation. This is ad- mittedly one of the most serious prob- lems, and it was impossible to ignore it further. Conditions in Great Britain are still such as to cause alarm. The suspen- sion of the gold standard, even though temporary, has not turned out to be the boom whici certain quarters antici- pated #s a result of Lendon's radical step. The state of affairs in Germany also requires close attention. The ex- tension of short-term credit has materially, but the time limit wiil soon expire and new arrangements may have t> be made for credits coming due. Under present conditions this is well- nigh_impossible anotker Come in and let us demonstrate the new G-E RADIO Terms—Demonstrations M. W.DOVE 1118 13th St. N.W. Nat. 3799 § eal Estate Loans (D. C. Property Only) 6% No Commission Charged You can take 12 vears to pay off your loans without the expense of renewing. $1,000 for $10 per month, including interest and principal. Larger or smaller loans at proportion- ate rates. Perpetual Building Association Established 1881 ! Jooked for. and belief that a drastic cut | for the first eight months shows a de- ! for the time being would appear to be | | normal business. 3 | are at that point in the depression stage awaiting solution. 'The various South and Central American nations have been permitted to contract debts far beyond their capacity. Defaults and suspension of payments have resulted, in many cases leading to the collapse of the credit structure of the countries in question and rendering commercial transactions with them difficult, if not impossible. The importance of Latin America to the world's commerce is evidenced from the fact that the United States alone sold to and bought from tin America about $1,600,000,000 sh of merchandise in 1930, admit- tedly one of th» most difficult years in e economic history of nations. The foundations are being laid for | the adjustment of the above, and the | adoption of a more optimistic attitude | would scem fully warranted. Santa Fe Dividend Surprises. One of the most agreeable surprises | was furnished by the Atchison, Topeka & Santa Fe Railway, which declared tre regular $2.50 dividend on the com- | mon stock. A reduction had been | States. THE EVENING STAR, the analysis of the problem and the decision as to what steps should be immediately taken for its correction, continues Mr. Dick. He furfher be- lieves that these s should be taken immediately after the decision by the Interstate Commerce Commission in re- gard to the rate increase. ‘Would End Bank Failures, One of the most encouraging pleces of news relates to the probability that the Federal Reserve act would be modi- fied in regard to the eligibility of paper for rediscount. Such a move more than anything else could bring about a change for the better in the distressing banking situation and put a stop to the continuance of failures and closing of institutions throughout the United Such revisions of the Federal Reserve act, however, have to be sanc- tioned by Congress, which does not convene until December, while aid is urgently needed and should be forth- coming at once. Owing to the rediscount restrictions put into effect years ago when business might be effectei was substantiated by | the recent weakness in the shares, | which sold down to levels at which the | yield exceeded 10 per cent. Net income cline of slightly more than 17 per cent | 2s compared with the corresponding period last year and more than 52 per cent as compared with 1929. . | 1t is not unlikely that thefull divi- | dend will be earned this year, but even | if profits should fall short of dividends | § the maintenance of the current rate | warranted by the large surplus which | the road has built up in years of pros- | perity. Depression Peak Reached. Much of the weakness of the old many maladjustments have been cor- rected, and such large volumes of con- sumers’ goocs hate been used up or worn out that the pressure of necessi- tous purchases must sconer or later be felt, according to Rome C. Stephenson, president of the American Bankers’ Association. - When that time definitely comes, continues Mr. Stephenson, we may call it the first impulse of a new era of He also adds that we of the business cycle when any sound stimulating influence will start a rcal movement in the direction of a return toward prosperity. Advocates Rail Conference. To make certain the correction of the faults in the railroad structure and to insure placing the system of private operation of railroads on as firm a foundation as possible, the appointment of a national council is advocated by Fairman R. Dick of Roosevelt & Sons, investment bankers of New York ! ould prozeed 2t once to 1110 G EST1879 The brilliant symphony and went G-E almost to a by a number. Ears alone pared, voted—and gave * * Largest in Washington Assete Over $25,000,000 Cor. 11th and E N.W. JAMES BERRY, President EDWARD C. BALTZ. Secietary (Copyright, 1931, | N WASHINGTON, conditions were totally different from what they are now, the Reserve banks have not been of particularly great service throughout present crisis. ‘The policy could be broadened mate- rially without in any way impairing the security of the banks in question. Good News From Chile. ‘The outlook for holders of Chilean bonds, pn which the service defaulted, appears to have improved someW%hat as a result of the election of Juan Esteban Montero to the presidency of Chile, suc- ceeding Carlos Ibanez, ousted recently by a revolution. Dr. Montero is recognized as a man of unquestioned moral and intellectual superiority, of whom much is expected in the most difficult phase of his na- tion’s history. He is expected to do his utmost to remove from Chile the stigma of default and restore the good reputa- tion the country had enjoyed for almost a century with bankers and investors throughout the world. by the North American ewspaper Alliance, Inc.) D; C. DAY, OCTOBER 7, 1931 ORIDHEET HLIA SHO w The Dahlia in All Its Glory Thursday and Friday ALL WELCOME A magnificent array of all the richest and rarest blooms. Gorgeous blendings of every PERFORMANCE covers every one of these state of affairs has been liquicated, | the nationally-famous Roxy Theatre, New York, listened to the tone-test Four hidden radios were rivals in this tone-test. Each was aleading make. Eachset was known to the listenersonly The Roxy musicians listened, com- G-E its most decisive victory in its record of tone- test wins! 40 out of 41 unknowingly picked G-E for its superior tone! ““Believe your own ears!” Go: to a SALE plants at such a low price. ] in burlap. Easy to plant and now is the best time, % Beautiful /1| Chinese Arborvitae |l 3to3Y, Feet High Worth $3.00 Globe § HYACINTHS—AIl Colors First Size Bulbs ¢ 12c Each; $1.35 Doz & Second Size Bulbs 10c Each; $1.15 Doz. gg BEDDING HYACINTHS | 8¢ Each; 85¢ Doz. 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