Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-20
Washington Ticker
BY CLINTON COFFIN,
Associated Press Financial Writer.

Associated Press Financial Writer.
It is possible to obtain in Washington
now among the experienced some pre-
dictions that new tariff bill will not
be passed this year. and there Is wide
spread conviction that such a measure
will not be enacted for some months at
least. The schedules just released by
| the Senate finance committee include
many duties substantially lower than
those approved by the House last Spring,
but 1t is fairly apparent that these lower
scales must face in the legislative body
formidable opposition from several
directions. Differences Of such extent
between the two houses can scarcely be
reconciled in short time.
have commended at this session for APP
plication of tariff duties to derivatives
of agricultural products, and to substi-
tutes for them, have again failed 10 get
the principle incorporated on any broad
scale in the pending Senate proposal
At a time when the administration Is
credited with seeking to obtain
greater measure of agricultural protec-
ton in tariff schedules, 1t Is possible
that more contest is in prospect before
this point is finally dropped, and sucn
things as cocoanut oil, sage. starch and
molasses are finally disposed OF.
All this prospective delay Will not
affect very happily stable group OF
persons engaged in the import trade.
Commerce Department figures SHOW
that beginning in May imports began TO
swell, and in later months to rise to
point that occasioned an unfavoranie
turn in the usual balance OF commodity
trade favorable to the United States.
Investigation disclosed that great guam
titles Of materials were being brought
into the country in expectation OF
tariff produced price increase. The
sugar movement was the most notice.
able, but the most remarkable in pro
portion was with the allied COMMONLY
molasses, which is the most important
raw material for manufacture OF indust-
rial alcohol.
A considerable quantity OF other
items. including some wool OF various
types. apparently moved into storage IN
this country for the same reasons. just
how the various operations will work
out only the operators and the income
tax collectors will actually know.
Briefs now being worked up for the
Association of Railway Executives TO
present to the Interstate Commerce
Commission in a pending controversy
are based upon the somewhat starting
conclusion that between SO and 10 per
cent of railroad freight business Is done
on credit It is pretty short credit, but
nevertheless credit, and the Natlonal
Industrial Traffic League, representing
most important shippers, wants conslo-
erably more time than is now allowed.
The extraordinary freight volume now
moving on American railroads, analysis
shows, is very largely the product OF the
| operation of large-Scale business. Small
or occasional shippers and conSlgneeS
of freight pay spot cash in advance or
on delivery. Large concerns, regular
users of transport service. under long
established practice, are given AZ hours
to meet such bills, and II they care 10
post reasonable bonds-which most OF
them do-they may take as much as
So hours to meet the carrier accounts.
This period Is deemed necessary to en-
able a check of the freight bills by the
bookkeeping stats of the business
houses, and the league contends that
under modern conditions Of increasing
traffic volume that period ought to be
stretched to week or 10 days.
One small fact the carriers are citing
in opposing the extended time Is an
index of the huge proportions OF mod
ern American business. The railroads
calculate that to give shippers three
more days in which to settle freight
bills would increase the national rail-
road working capital requirements by
S86 600, 900. At least that sum would
be permanently kept in suspension.
aside from the hazard Of credit loss,
however slight or great that might be.
Latest customs records on imports
class cocoa as by far the most tmpor-
tant commodity furnished from Africa
for American consumption. Out OF -,
AL COG pounds Of crude cocoa brought
into the United States in one month
British West Africa furnished 1875 .544
pounds and other African areas FUR
nished additional amounts. The African
monthly cocoa imports were worth ABOUT
81, 100000, or considerably more than
the average monthly import OF dia-
monds from the same continent.
African cocoa may have competitor
for first place in supplying American
commodity demands within few years.
The large scale experiments of some
United States concerns, notably the
Firestone Tire Co., in rubber production
in Liberia, may come to successful fru-
ition, and If so the rubber tonnage
shipped here from the Continent will
become important
"The Importance to the United States
Of a study of these trends Is accentu-
ated when 1t Is known that this country
receives 425 per cent Of Japan's total
exports" o. P. Hopkins, acting director
of the Bureau of Foreign and Domestic
Commerce, says in a foreword to a
new Government publication analysing
japanese business. Likewise, in Japans
import trade the United States leads
with % per cent, or IL per cent in ex-
cess Of the next important source OF her
supplies.
nopoly as is generally believed in the
export of those commodities which have
been usually regarded as special to the
country. Camphor accounts for less
than 3 per cent of her export values
in recent years. While about SO per
cent Of Japan's total export consists Of
silk and cotton manufactures. these
are important commodities in the trade
of other countries"
Airplanes for interstate passenger
transport, by q new Government regula-
ton, must hereafter. have at least one
exit for every six persons in their rated
passenger carrying capacity. The pres
ent requirement is that there be two
exits to each cabin, but the change
is made in the interest of safety.
This requirement, which has been
approved by the manufacturing indus
try, will probably work out to give q
highly individual appearance to the
growing numbers of large-size planes
that are on the designing board or
under assembly in the factories, and
distinguish the air carrier sharply from
the railway coach and the bus in their
passenger arrangements. If the Ger