Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-31
Washington Ticker
BY CLINTON COFFIN.
Associated Press Financial Writer.

Associated Press Financial Writer.
ABRUPT recovery in Stock Exchange
prices, gratifying as it has been since
the Nation proved capable of mobilizing
an army of bargain hunters to turn
back developing stock panic, serves to
raise again one question OF peculiar IN
terest in Washington. It has been a
qualified hope of Treasury agents and
numerous others that once the stock
market boom got down to reasonable
proportions, there would be an easing
of interest rates. Such an effect was
normally to be expected, and with heavy
Government financing approaching III
December, it is still looked for.
Further, the long rise OF collateral
interest rates has shut of foreign Dor
rowers more and more from American
money markets, though Commerce and
State Department reviews indicate that
Germany in particular stands in need
of funds for sound industrial and civic
use. One or two subsidiary organiza-
tions, such as the Farm Loan Board,
have likewise been postponing from
month to month the issuance of bonds
that would furnish funds desirable in
the specialized field of farm mortgage
lending. If again stocks are to prove
a superior attraction for the bulk OF
investment funds, some hopes for gen.
eral borrowing on easier terms will
have to be laid aside.
Notwithstanding, there was in official
circles marked feeling Of relief as public
buying on a scale more than adequate
to meet all liquidation began appearing
yesterday in all security markets. 1t
was generally commented that higher
intelligence was being shown by the
public in all walks of life in security
dealings than had ever been evinced in
previous panic periods. The ability of
people in general to buy was regarded
as complete verification of the brief
word of President Hoover, echoed as it
has been by the ablest banking and
industrial leaders, as to the ultimate
soundness of American conditions.
The interest rate course will be most
carefully watched, even though the ex-
pectation of Immediately lower charges
is somewhat Subdued. This year, all
are agreed, is making some new history,
and may give cause even yet for some
reStatement Of fundamental economic
principles.
While Mexico is one neighbor of the
United States which evinces every dis
position to maintain an individualiZed
national character, and to travel along
social lines distinctly different from
those followed by this country, Amer
lean officials there observe some definite
succumbing to American examples in
sport 1t appears that even the national
sport of bull fighting Is now finding
serious competition.
Base ball, foot ball, basket ball and
other American sports have been taken
up with so much enthusiasm in Mexico
bull fighting in popularity" Waldo E.
Bailey, vice consul at Mazatlan, reports
to Washington. "On two occasions
during the past year a bull fight and
a base ball game were held on the
same day. The base ball stadium was
packed, but attendance at the bull fight
arena was Scanty."
President Portes Gil and other
Mexican leaders, the vice consul adds,
have supported the tendency to en-
courage sports of all kinds among the
youth of the nation. The disposition,
it was added, should be of interest to
American manufacturers of athletic
equipment as well as to American social
agencies.
In addition to approving rules of
business practice formulated by several
scores of associations engaged in more
proSaic industries, the Federal Trade
Commission has now moved officially to
lay down a code for those who supply
beauty shops and BARRIERS with mate
rails to improve human appearance. The
beauty business has long since assumed
proportions in the United States which
entitle it to most respectful conSidera-
ton, and the regulations for the conduct
Of manufacturers. wholesalers and deal
ers in beauty shop supplies show the
same detail and extent as do those laid
down to govern distribution of petro-
leum or steel products.
AS usual, the commission sanctions
the ban on secret rebates, discrimina-
ton and interference with contracts
which the beauty and barber supply as
unusual feature of the particular agree
ment arises from the fact that alcohol
enters largely into preparation of such
supplies, and both the commission and
the industry took steps to see that the
alcoholic ingredients dispensed and the
system of their distribution are not
wrongfully used to nullify prohibition.
Only one of series Of trade associa-
ton meetings held this week in Wash
ington took up the question of labor in
its industry, though all of the confer
ences of business men considered varied
phases Of economic matters of inter-
est to their members. The National AS
ISOLATION of Marble Dealers which is
currently meeting, was the exception.
The fact illustrates the point that trade
associations in the United States almost
invariably are accustomed to handle
labor relations apart from general busi-
ness affairs.