The Washington times., 1922-04-01
g4HsHHHsHPe B BUSINESS AND FINANCE
ISSUES ANALYZED
By w. 8. COUSINS.
Copyright. 1921. BY Cosmopolitan News
SerYtcN.l u

~ Vs OVOoAANOs
Copyright. 1879. BY Cosmopolitan News
Servics.)
NEW YORK. April AL
though the United States has made
rapid strides in manufacturing in
recent years. the bulk Of her wealth
il still In the great agricultural
district which produce the wheat.
corn. cotton. and livestock that
supply not only the home markets
but also the markets of the four
corners Of the globe.
Economists have figured out that
the farmers as a class have added
nearly $250. 100000 to their pur-
chasing power by the rise in the
prices of wheat and corn between
November. 1921. and March. 1922.
This estimate il based upon tie
farm reserves as indicated by the
figures recently made public by
the Department of Agriculture. It
has also been estimated that in addi.
ton to this advantage in grain prices
there has been a rise of from 80 To
40 per cent In the price Of other
farm products within the past few
months.
While the farmers represent the
greatest purchasing power in the
country, and as such are entitled to
more consideration than they gen.
orally receive. II IL cheerful to note
that the resumption of profitable
occupation by hundreds Of thousands
Of American working men who for
months have been groaning under
enforced idleness will also add it's
quota to the purchasing power Of
the people Of America.
Those who have taken a gloomy
view Of the business situation have
apparently forgotten to consider that
the enormous needs Of over one hun
dred millions Of American people
must be supplied. and that Ameri-
cans are not accustomed to standing
In line. Moreover, our people are
not satisfied with simple necessities.
They want their luxuries, too, and
they want what they want when
they want It.
On the favorable overnight de-
velopments in the Mexican Oil fields
and the decree of the Mexican off,
Gals relieving American mine own.
ers Of penalties for unpaid taxes,
thus creating q better feeling to-
ward Mexico by American capital
lists. an attempt was made today to
send Mexican Petroleum back to the
higher levels from which It recently
receded. 1t was announced that the
Mexican Petroleum Company would
renew drilling operations in the field
which produced the famous we'll No.
Z. noted for its 1000 barrel capacity
and that other developments were
forthcoming. Attempts to boom this
stock always meet with violent re-
sistance from the bears, many of
whom have collected rich profits
when they were "in right" but paid
dearly for their efforts when COM
The decline Of Is points from 1881
to 115& in the last two weeks has
been exceedingly profitable for the
bear contingent. In the early trad.
ing today the price swung in narrow
limits between 120h and -121k.
The splendid Improvement in the
earnings Of the st. Louis and San
Francisco road suggests dividend
action on the preferred stock. which
has moved up from 36h to sax. The
interest on the adjustment and in
come bonds takes precedence over
preferred stock dividends, none of
which have been paid since the re-
organization In 1916. Last year the
company earned about $3.50 per
share on the common stock and this
year 1t IL starting out with better
monthly statements.