Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-10

Postmaster General Brown has indi-
Gated that the construction expenditure
on new ships might go even above this
figure, and estimates of the perform
ance anticipated do vary considerably.
Without carrying the details too far, it
can be said that the Federal Govern
ment policy makes the mail pay COM
pensate American ship operators to a
considerable degree for the higher costs
they have to meet, as compared with
those of foreign competitors. The fur
ther Government aids comes in the line
of loans obtainable under the Jones'
White bill, which furnished the Ship
ping Board with $250,000, 900 to advance
to builders at 3$s per cent interest on
long time. A mail contract plus build
ing loan Is the key to the shipbuilding
outlook for nearly all the foreign going
lines under American ownership.
1t is now figured that about $500, 900
gross tons of shipping are sailing under
the American flag, and that the aver
age age OF the tonnage Is at least 10
years. Normal requirements for re-
placement on this tonnage is estimated
to be about 215,000 tons per year, and
since better and faster vessels are usu-
ally provided, 1t is the expectation that
least 215,000 tons of shipping per an
mum for the next few years, at cost
of between $225 and $3.50 per ton Any
increase in American foreign trade, or
any relative advance in the proportion
OF it carried in American bottoms, will
operate to stimulate this total vastly.
Holiday trade over the United States,
as whole, came very close to match
ing the volume of 1928, but actually did
not do so. This can be said in the
H.. 1T of definite figures given the Fed
eral Reserve Board by the 478 largest
department stores of the country cover
ing their business for the entire month
OF December. The unstated total OF
their sales for the period was reported
to the board as l.8 per cent less than
last year.
There proved to be, also, a good deal
OF variation in districts of the country
as to holiday trade, part of which the
boards summary attributed to weather
conditions. Around New York City.
and on the Pacific Coast, as well as in
Middle Atlantic territory, there were
increases in holiday buying over last
year, while the greatest decline was
noted in the Chicago Reserve district
AS the figures worked out, 113 stores re-
ported an increased business over last
year, and 365 decreased sales volume.
However, in no district did the decreases
reach formidable proportions, and most
observers will rate the showing as
demonstration that the stock market
panic has failed to precipitate business
depression.
Coincident with the decline in rail-
road freight traffic which came to be
experienced in December, carriers of the
country have improved an opportunity
to get equipment in condition. The
American Railway Association. in con-
nection with the point, announces that
on December is the total number OF
freight cars awaiting repairs In the
country had been reduced to 122,552,
which is less total than has been re-
corded on any date in the last 10 years.
Since railroads now own and operate
more than 100000 freight cars, the
total output of repair at the present
Lime is figured to be SIS per cent OF all
the carrier rolling stock in this CLASH
fication.