The midland journal. (Rising Sun, Md.) 1885-1947, 1927-11-04
NEWS REVIEW OF
CURRENT EVENTS
President Is Informed of
Good Business Condi-
tions in Nation.
BY EDWARD w. PlcKARD

by EDWAhD W. BISNHhD
II CONOAIIC conditions in the Unit
II ed States are fairly good, busi-
ness seems to be improving and the
outlook for the future is encouraging.
That is, in brief, summary OF the
reports submitted to President Cool
idge by Secretary of the Treasury
Mellon, Secretary Of Labor Davis,
Secretary of Agriculture Jardine and
Secretary of Commerce Hoover. The
President was highly pleased with
these optimistic reports, and conclud-
ed the present situation is satisfac-
tory.
In the reports on business condi-
lions it was stated that the construc-
ton program of the country shows no
material let-up. While there has been
a falling off in receipts of the rail-
roads, the President is of the opinion
that any diminution in volume of rail-
road business due to development of
motor transportation and the gen.
eral use of automobiles reflects pros
perity rather than otherwise. The
amount of coal transportation was
not quite so great this year as last,
but the President attributes this to
the fact that last year stocks of coal
were accumulated in anticipation of
strike.
A considerable increase in the pro-
duction of automobiles is in prospect,
the President was advised. The rail-
roads are to be in the market for
good deal of new equipment. The tex
tile industry is in better shape than
1t was, and the steel industry is show
ing progress.
Exports are keeping up as well as
last. year, it was stated. Imports have
not been quite so large in value as
last year, but Secretary Hoover gave
as reason that this was due mainly
to the fact that American consumers
are getting British rubber at lower
prices.
Secretary Davis, in commenting on
the labor situation, said that at pres
ent there were only twenty-seven in
dustrial strikes in progress as COM
pared with fifty at this time last year.
Reports presented by Secretary
Jardine caused the President to be-
lieve that agriculture is in a some
what better condition than it has
been, and that this will be reflected in
greater buying power. Crops with
the exception of cotton were stated
to be fully as good as last year.
Despite the encouraging business
conditions, President Coolidge let it
be known that in his opinion taxes
cannot be reduced by as much as
$350,000,000 or $400,000,O00, as is
urged by the Chamber of Commerce
of the United States. He has not in
Dictated that the reduction could
amount to even $300,O00,000, and in
Washington it was believed Secretary
Mellon would advise congress to
make a cut of between $200,000000
and $250,000,O00.
TT WAS understood In Washington
i that Henry G. Hall would soon re-
sign as member of the Interstate
Commerce commission, and that Amos
A. Belts of Phoenix, Ariz., would be
named to succeed him. Mr.. Belts is
a member Of the Arizona corporation
commission and is Democrat.
n HICAGO'S night life is on the
~ eve Of being dried up completely
as a result of the action of the SUI
preme court of the United States in
declining to interfere with the issu-
ance of injunctions closing several
cabarets in that city because some
Of their patrons drank liquor on the
premises and were served with the
accompanying ice and soft drinks.
And there is no apparent reason why
cabarets and roadhouses everywhere
else should not be in equal peril with
those of the Chicago district. The
prohibition enforcement agents were
making preparations for great ac-
tivity, and the proprietors Of cafes
and hotels were in a quandary, de-
claring they could not insult their