Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-09
AUTOMOBILE SHOW
DRAWS BIG CROWDS
Visitors Display Keen Inter-
est in New Models at
Gotham Exhibit.
BY JOHN. r. SINCLAIR.

BY JOHN r. SINCLAIR.
Special Dispatch to The Star.
NEW YORK, January 9.-Visitors to
the New York Automobile Show, in ses-
sion this week at the Grand Central
Palace, are impressed with the great
crowds attending. the interest shown in
the new models and the great variety of
cars. Surely there is keen competition
in the greatest Of American industries.
All manufacturers, except Ford, are
there exhibiting their wares. The num-
Der Of new-car models following Euro
pean designs is quite impressive.
The automobile industry, in the first
place, has become the barometer of
business. This industry turned out last
year products of a wholesale value of
more than $4,000, 100000. It's the big
gest buyer in the Nation Of steel, glass,
rubber and leather. Millions of people
are directly employed in the industry;
other millions indirectly.
The business world is watching the
New York Automobile Show with more
interest this year than usual. Will the
mountaineering activity of 1929 be du-
plicated? Hardly, but there is great in
terest in the show, with thousands of
out-of-town visitors in attendance.
How practical" that interest will be
the. next few months will largely deter
mine.
Silver prices have touched the lowest
level this week in 100 years. The price
of silver has dropped z per cent in the
last two months and % per cent in the
last IL months, bringing decline to a
level never witnessed by living man.
Silver, instead of falling in gold
value after the war, rose from 47A
pence in March of 1919 to 8912 in Feb
ruary, 1920. Then the smash breaking
to 305s pence in March, 1921. Silver
prices have dropped much faster than
the price of commodities in general
The reason? Increased production
had something to do with it. for, accord
ing to the United States mint figures,
production was so per cent greater in
1928 than IN 1920.
India, which has taken so much silver
in the past two centuries, is now at
tempting to, get on a gold basis, and
her demand for silver is diminishing.
China, another great silver-buying
country, has been in bad shape in re-
cent years, and the Chinese people are
being forced to accept paper money in
stead of silver AS a result, London'S
report shows that the shipment of silver
to China has fallen from SIG, 500, 900
in 1922 to 1884, 900 in 1929.
So the great silver mines Of Mexico
and the United States are deserted. and
business In silver-buying nations is dis
'fupted.
Silver has. fallen upon evil days from
the time when it ruled the world, even
more completely than gold does today.
Should the wire and wireless COM
L. al
to merge? Owen D. Young, president OF
the Radio Corporation of America, says
yes. Newcomb Carlton, president of
the Western Union Telegraph Co. since
1914, says no.
Great Britain has definitely taken q
stand in favor of the union of the wire
less and wire communications. The
White act prohibits such action in the
United States. Owen D. Young says
that this recent British merger menaces
American interests in the field Of COM
munications Newcomb Carlton denies
it and calls it fantastic DOGGY" raised
by the Radio Corporation as an argu-
ment in favor of a unification, the ad-
vantages of which he not only ques-
tons but denies.
The Radio Corporation of America
wants to merge with the international
Telephone & Telegraph Company.
to allow it?
Mr.. Cartons suggestion is that II
the act was changed to allow the merger,
the Radio Corporation, should be re-
quired to divest itself of its exclusive
contracts with foreign companies, other
wise it might encourage a drift toward
monopoly"
Now, with 81 900 messages going back
and forth daily, the Western Union is
~ fnnr business.
the Commercial 2912 per cent. the
French Gables per cent and the RADIO
CORPORATION Of America and merger SH2
per cent. The balance Is scattered.
When Mr.. Carlton declared that the
Western Unions capital of $l02 ,OO0, 600
Is earning approximately SIS. 0O0,0Oo
wear, Senator Brookhart asked the vet
eran if he thought the public utilities
we're entitled to a greater return on
money investments than the earning
power of the whole people, which ne
said had been placed ct less than per
cent.
well. you'll have to ask some wild
economist about that" was Mr.. Carl
tons reply. Which shows that Mr..
Carlton, at 81, is still pretty effective
witness.
Are utility companies planning more
simplification of their financial struc-
lures? The announcement by the
Commonwealth &c Southern Corporation
that the directors of the five big COM
panies affiliated with them-the Allied
Power & Light Corporation, the Com
monwealth Power Corporation, the
Penn Ohio Edison Co, the Southeastern
Power g. Light Co. and the Common
wealth & Southern Corporation-Would
be merged into the Commonwealth a.
Southern Corporation, looks like such a
move.
The Commonwealth & Southern, for
the IL months ending November 80
last, showed gross earnings OF $l51 .000,-
900. and gross income OF $77OOO,OOO.
The net income after fixed charges was
s42, 000,0 900 before depreciation. After
very liberal depreciation and pre-
terred stock dividend requirements, the
balance amounted to $25, ASS 900 avail
able for the 33,973,56 common shares
Of stock outstanding-this Is about
rs cents a share.
The common stock this week has been
placed on a 60-cent annual dividend
basis
But for the average man, simplifi-
cation of public utility statements and
the slowing up of dizzy pyramlding OF
the assets of one utility corporation into
most welcome sign.
Copyright. 1890. by North American News
-. paper Ai.anceD
SILVER QUOTATIONS.
NEW YORK, January Q LP).-Bar
ct, lAfY