Evening star., 1921-05-08
SOME IMPROVEMENT NOTICED:
NO CAUSE FOR ENTHUSIASM
Economists and Bankers Still Keep Warm
ing Signals Flying Wage Adjustment
Will Be Great Hell Happenings

has been less feeling in tho matter.
An undersecretary was suggested
for the Treasury Department to take
over the duties of the controller.
Such n position might be created.
but. with two deputy controllers 10
be taken care OF. men who have been
many years in the service and who
know how; with federal agent at
every regional reserve bank and
some assistant federal agents. with
governors and deputy governors by
the dozen, bank examiners and head
bank examiners. il would seem need
less to create any new positions, at
least during the present effort for
economy.
Facts vs.. War Cries.
1t is interesting to note the state
ments made. fiction. regarding the
enormous costs of shipping to mar
ket. and the truth when day, date
and price per pound are cited.
On May is. according to the Rail-
way Age. the average price paid to
he producer for cabbage in Texas
was 81 per ton. The cost OF trans
porting it to Chicago was S26.3o per
ton. This included not only the
freight rate and the federal tax on
the charges. but also the cost of icing
the refrigerator car. The total
Texas producer and the railroad for
hauling the produce about 1900 miles
| was S33 per ton, or at the rate of l.6T
cents per pound. On the same day
| cabbage retailed in Chicago for
cents per pound. equivalent to S1i0
| per ton. or S106.10 per ton more than
the producer and carrier received for
their services.
On this date also Texas pro-
ducer of onions received S42 per ton
for white onions. The freight bin to
Chicago was s29.64 per ton. making
| the total amount received by pro-
ducer and railroad s7l.64 per ton, or
3.5S cents per pound. At this time
white onions retailed in Chicago for
10 cents per pound, or 5000 per ton.
Profit OF 200 Per Cent.
Another instance cited is that of
paid IS per ton. The cost of trans
portation to Chicago was s3O.36 per
ton. making 4 total Of 1886 per ton.
or LII cents per pound. which the
grower and carrier combined re-
ceived. At the same time the retai il
price of spinach in Chicago was Il
cents per pound, or 5000 per ton.
making S264.64 per ton more than
both producer and railroad received.
This is an indicated profit. less local
cent. and the journal mentioned just
ly inquiries, Who receives it?
Evidently the increase in freight
rates is made to carry the burden Of
prohteering in much the same man
ner as the excess profits tax sup
charges during the latter days of the
war and for the first year and a half
Afterward. 1t is just as well that the
public should know where the fault
lies. and apparently it is not with
| the railroads
Tomorrow on the local stock ex-
! change, Immediately after the call.
an effort will be made to inaugurate
a call money market in Washington.
| 1t Is an experiment, suggested by
! George o. Watson at the last conven-
ton Of the District Bankers Associa-
! ton.
| One banker declared that it would
be case Of loaning money to the
| same people we loan to every day.
referring to two large houses with
! New York direct connection.
1t will, however. be much better to
| have the amounts and the rates of
| interest paid advertised through the
| records of loans every day as they
1! will be when made on the call loan
market. Moreover. there are several
| houses here large enough and impor
! their financing here. 1t is to be hoped
that Mr.. Walsons plan will be success
+, fully started and maintained.
Local Securities.
The week in local securities was
! marked by some price recessions and
| one or two partial recoveries, but by
F.! little activity.
/ Railway preferred has advanced
| sharply, also Railway As, but the rest
| Of the list has been more or less
! Stagnant. with some concessions. al
though yesterdays trading was the
best OF the week.