Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-24

and when brokers loans reach a hlgh
figure the bears know that by selling
great blocks of stock prices generally go
down and call for margins, and stop
loss orders will force widespread public
selling.
Consequently, further price declines
ere inevitable. This, the richest Ma
ton in the world in natural resources
and money, should not permit powerful
bear groups. who create nothing, to I'M
dermine public confidence or curtail the
prosperity of business by Stock Elk
change operations, which ruin millions
of cur people, thus destroying their COM
modify buying power"
Wilbur Il. FOshay, Public Utilities
Leader and President of the FOshay CO.,
Minneapolis: Actual business condi-
tons or earnings of securities would not
warrant excessive prices at which Sc
curitieS have been selling, in our opin-
ion.
Through poor operations and mar
ket manipulation it has been very profit
able for investment bankers and brokers
to manipulate the market up and down
for their own profit. 1t is our belief
that such manipulation. together with
propaganda spread throughout the
country, overemphasizing the advan-
tageS of marketability of securities, has
been the cause of inflated prices.
THE present decline Of Stock Ex
change prices may be just another OPP
portunity for profits for the manipula-
tors or it may be realization of the
situation on the part of the public in
any event.
Profitable for Operators.
eve don't feel that business condi-
tons have had anything to do with the
stock market situation. Manipulating
the market so securities could be bought
when down and sold when at the peak
has been very profitable thing for the
operators.
when securities are sold on their
actual value and not manipulated the
prices such as have been reached in
the past could not prevail, and such
slumps as have just occurred could not
happen.
Business as we see it is at least
normal and is as good or better than
last year. There is no reason why it
should not continue so, unless upset by
actions of the stock market manipula-
ton.
c. C. Conway, President, Continental
Can Co.: Our business is essentially
food product business. The season
for this year is over and the pack
has been very satisfactory. The National
SdIllleIS ESSOCldGIOu reports IIldG the
condition of the industry is very
healthy. and there is no probability of
any abnormal carryovcr. This indicates
good season for next year.
Our general line business, which
makes packages for general industry,
has been satisfactory and normal, and
has shown no sign of falling off.
Our viewpoint as whole is steady
normal business without any sign of
recession"
Sidney r. Kent, General Manager,
Paramount Famous-LaSky Corporation:
Il do not believe the present decline
of stock exchange prices reflects con-
ditionS of business in the country any
more than extremely high prices pre-
vailing before the fall were a proper
basis to go by.
MANY of the stocks have been in
advance and ahead of the Nations
average prosperity, and when the
pendulum swings back it goes to ex-
tremeS the same as when the market
was going up.
II believe that the Nations business,
analysed, is sound and healthy, except
in few lines.
But do not look upon stock prices
as being an accurate barometer as to
what is going on except in certain
specific stocks. The middle ground be-
tween the extreme high prices and
present low prices would, in my opinion,
come nearer to rejecting the average
of the country's condition.
Robert Dollar, President of the Dollar
Steamship Co., San Francisco: 1.-THE
present commercial condition of the
United States, I believe, could not be
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