Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-12-02
MUST GIVE AID TO
HEL.PEXPORT TRADE
Financiers Want Washington
to Lead in Movement to
Stabilize Exchange.
by !. A. FLEMING.

for some movement toward rendering
assistance to continental Europe in
TN" form of large loans and credits. in
the near future. in an effort to save
tn" foreign exchange situation, and.
!, Il greater or lesser extent. the AmerI-
'tu foreign trade.
II il considered that the project is
| too great to be ed by any group
OF bankers without the guarantee or
assistance of the government back
OF the project.
1t is believed that the American
rtoplc have not fully realized the
condition of central European states,
a." the eject which their conilnueh
hnlplcSsncsS might have on our own
and the worlds business interests.
In quarters close to leading banking
interests that have investigated con-
diiions il is claimed that unless Amer
jcan credit. food and goods are sent
abroad freely the people of centra!
Europe may Starve.
one report current yesterday was
thar exporters had agreed to plan
calling for payment OF SO per cent In
cash and the balance in notes of for
c.2n buyers. but, in view of the new
lows then established on the pound
sterling and the franc. few took any
stock in the story.
Financial men want Washington to
Load in The Sterilization movement.
fully real EinG the necessity therefor.
Days CIearingx, sI,849.O0O.
Today's clearings of the local
Ranking institutions, representing the
great volume of business transacted
yesterday were S1,349,001, far above
the average clearings IN the daily set
t..mrnts. one bank showed a million
dollars debit at the clearing house
and another 100000 credit while
there were many differences OF soc 10
Sin" 0aH to be settled between banks.
Cashiers and other officers admit led
t-at il was their biggest surety
banking business day.
Net Loss, S2g3.67S.Ios.
A summary of the operating of the
railroads of the country for the ten
months ended with OCTOBER showed Il
net loss Of seG9, 67S.l5S.
Liberty Bonds Excellent Investment.
Liberty bonds at present prices offer
excellent opportunity to the most con-
seryative investors. Yields that have
heretofore been unthought OF for
nigh grade government bonds are
now possible by reason of the recent
severe slump brought about by the
Liquidation of big corporations for the
purpose Of ofrsetting their losses
a caInst profits in compila tons of in
come tan returns for the close of the
} ear.
ToGaE's figures Indicate a resumptio
of tins selling and little lower
price than prevailed yesterday.
When government bonds. with GER
tain taX-free features, can be bought
10 yield up to 400 and STA per cent
on the investment it would seem like
good time for the leng-hoarded
moneys 10 come out.
Prices of liberty bonds at II 80
am. today were: S1as $3.50; first As.
1910; second As 9i.4i; first 4 Il 9. 94.l0;
second AIS. s1.S6; third 4As. 9i.06;
fourth 4la 5. GIG: victory 5%4s, 9S.ss;
victory i44s. 1886.
Local Securities.
Local securities We're slow, and, if
anything, shade easier, though there
were no material evidences of weak
ness.
Railway preferred sold at 5ih, Mer-
senthaler at I39, Washington Gas at
49A and Potomac Consolidated SIS at
90lR.
Demand Exceeds supply. -
The December circular of9Sthe Ma
tional City Bank pays particular at
tcntion to the lack OF production to
meet the demand of the cousumers OF
America. calling attention TO the fact
thai there can be small discussion of
price while merchants afe chiefly in-
terested in getting theSgoeds. !
Naturally the demand exceeding the
supply, the trend of values is to high
er levels. Producers and dealers are
given credit for making am earnest
effort TO keep down prices else the
advances in values would literally
run away
American factories "as they are now
operating" This brings out this log
ical statement: If production could
lie speeded up, these high wages
would buy good many more things
and the high wages themselves would
be more secure"
Gp the Miners strike.
ha
lows:
The miners strike, timed deliber-
ateiy to take effect at the beginning
of winter. is the most serious menace
the country has faced. The miners are
entitled to have an impartial investi-
cation made into the conditions sur
Iounding the industry and to be as
Sured of fair treatment. Apparently
there is great amount of lost time
in the mines, resulting in low month
~ earnings in many instances, al
though the rates of pay would be am
pie upon Il full time basis. Shortage
OF cars Is responsible for much of this
during the present year. and this
ought 10 be remedied without perma-
nently increasing the price of coal
1t is one of the results of the iIIib-
eral public policy by which the earn
lngs of the railroads have been re-
stricted. striking illustration of saw
ing in small things and losing in
large. The losses of the public during
the last four years from inadeqUate
railroad facilities amount to far more
than liberal treatment of The roads
would have cost, ard an additional
charge upon all the coal mined in the
country caps the climax
Recent adViceS TO this bank are TO
the effect that $500 industries in Paris
and vicinity are shut down for want
of coal. and that he hopes OF the
country are conferred upon America"