Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-09
INDIVIDUAL FUNDS
SUPPORT MARKET
Loans "for Account Of
Others" Have Shown a
Steady Increase.
BY JOHN r. SINCLAIR.

YORK stock market Is being supported
now, by individual and corporation
funds, not bank funds.
About So OF every 100 brokers' loans
reported by the New York Federal Re-
serve member banks are loans "for the
accounts of others" and for the ac-
counts OF banks outside of New York.
Some OF these also include individual
and corporate loans. Together, these
two items total 80 per cent Of all
brokers' loans. The New York banks
have. therefore, but II per cent Of the
total involved in brokers loans.
This money, which Is drawing from
the stock market. Many stock market
observers have been surprised that in
dividuals and corporations have been
able to increase the amount Of their
funds in brokers' loans at this time OF
the year.
There are several theories. One Of
them Is that the amount Of cash and
credit in the country Is due to the
hand-to-mouth purchasing and the In
creasing rate Of turnover Of inventories.
Little capital is required-much less
than formerly.
Another theory-and this Is the more
gloomy one-is that there has been
considerable falling of in the demand
for goods over year ago In certain
key industries, so that the big compa-
MES have been putting their money not
so much in inventories as in brokers
accounts Of others
A third theory is that recent weeks
has seen a very large increase In credits
sent to America from abroad TO take
advantage Of the high interest rates.
But whatever the theory may be
brokers' loans continue to increase.
Vast consolidation Of the bus lines is
not confined to the United states.
Saxony, one Of the most prosperous sec
tons Of Germany, has been moving In
the same direction.
outside of her cities, two occupy the
field, one under state control and the
other under national.
The former is called the Saxony
Stage Co. It has now capital Of S5,-
600, 900, operates 100 trucks for freight
and 500 passenger buses. The national
company is operating under the post
office department and Is operating 100
buses as part Of q system of 900 bus
routes, which the post office department
has developed throughout Germany.
The larger state-owned company has
the advantage over private operators in
other countries in that laws and regu-
lations and even the public highways
can be adapted to improve economies
Of operation.
Great care is always taken in Saxony
in inspecting bus drivers. A man has
to work as an apprentice for two years
in the shops before he Is trusted to
drive q passenger bus.
In addition, he receives a high school
training and must pass a rigid physical
examination, which Is repeated every
two years.
The close supervision given in Saxony
has cut down the number OF accidents
In q remarkable way. Nearly $500
miles daily were operated in 1928 with
out one passenger fatality. Only one
passenger was injured for each $4,000
bus miles operated.
Passenger fares average about the
same as in the United States. On
poorly patronized lines rates may be
as high as 80 cents q passenger mile,
but the rate cuts down to 2 cents on
heavily travelled lines.
Steam railroads in Germany now
charge 1.42 cents for wooden class
and 2.24 cents for upholstered class.
Nevertheless, regardless Of the diff
ference in fares and ownership, the bus
lines and the railroads avoid duplication
OF routes and services wherever possible.
Business men are often so engrossed
in their own particular difficulties and
studies that they do not show the SYM
pathy or the knowledge that they
should in questions dealing with public
matters.
Take the campaign inaugurated some
years ago by the public health authori-
ties against the mosquito. It was de-
creed that this particular insect must
be blotted out. So airplanee, poison
gas, birds, ash, oils, acids and powders
all were linked in one grand array
against this pest.
It was and is no parlor battle, for
when the work is done the cost will
have exceeded $100,000,000.
Swamps and marshes are being
drained and oiled; trenches are dug in
pools and swamps to drain all land in
tested with them.
The low, marshy places are their
breeding ground. 50 the latest methods
Of attack used by armies so effectively
have been brought into play. A portable
fan sprays q mixture Of paris green |
and powdered lime over swamps and
lakes wherever larvae fHa , are found; Inc
cubic feet of dust-laden air minute |
and shoots 525 feet. It kills everything |
The airpiane is used for busting on
the larger patches of ground-1OO acres
or more. Particular success has been
in Haiti and Nicaragua. Birds, |
fish, lizards, bats and frogs have been
rounded up by the thousands and
sicked onto the mosquitoes.
But the little fish are the hardest
workers of all. The gambusia, or min
nows. eat as much as Sc times their
weight in larvae in an hour. The bat,
too, is no piker when 1t comes to eat
ing mosquitoes. Its mouth cut open has
often revealed diet Of . thousand
mosquitoes In q single night.
Nature usually supplies It's own cor
receive measures.