Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-28
PICTURE INDUSTRY
CONTINUES TO GAIN
Movies Report Good Business
During Depression in
.,aloa Other Lines.
BY JOHN F. SINCLAIR.

outstanding gains in the present bust
ness depression.
The Paramount-Publix organization
announces today that its estimated net
profits for the six months ending July
% are So, 434 900. or $2.98 per share on
2.832,277 shares and approximately IS
per cent ahead of the profits for the
corresponding period of 1929.
For the three months period ending
June % last, the estimated profits are
$4,000. 000-equal to S1.21 per share on
the average number of shares outstand-
ing-as compared with Sl.14 per share
last year.
The organization--a leader in the
picture field-reports the highest record
of any second quarter of any year in
its history, and about Al per cent ahead
of the net profits for the same period
of 1929.
Other leaders in the motion picture
industry have not issued their second
quarter reports yet. but they, too, are
. expected to show up we'll
Perhaps this is one industry that is
depression proof.
Goods in merchants hands are be-
low normal, savings are being accumu-
lated out of incomes business is worse
than it was during the same IL iod
last year and the same period o. the
year before. and unemployment is also
greater. but the general feeling is that
there will be substantial improvement
In the Fall"
Such is typical answer in a survey
made by Ralph Kohn of the Paramount
PubliX Corporation, covering business
conditions in the 40 States in which
that organization operates.
The two important facts that stand
out in this national survey are: I'd
That stocks of merchandise on hand are
less than last year and getting lower
each month, and CD savings are in
creaSing.
In the farming sections, where both
crop yields and farm prices are poor,
the outlook is not so encouraging.
The survey parallels rather closely
the latest report of Julius H. Barnes on
the subject.
The scorching hot weather has hurt
stand excessive heat without rain. But
with cotton it's different.
Cotton is rarely hurt by hot weather.
While this desert plant will not grow
in hot weather. neither will it die. Just
as soon as the rain comes again it starts
growing again. So the hot weather of
the last two weeks has effected no real
damage to the cotton crop.
The boil weevil is killed by hot
weather. So the white quality of the
plant should be preserved this year. and
the crop should be well up to the
average
Cotton is the Nations greatest cash
crop. It is far more important in this
regard than wheat, even in these days
when people are turning from cotton
goods TO silk and other substitutes.
The crop means much to America.
Last year nearly IS per cent of Amer
1ca's entire exports were cotton goods,
amounting to $770,830,0 900 in value-or
1892 600. 600 more than cotton's nearest
rival, the automobile
Incidentally, the big five United States
exports assume this order: Cotton, las
per cent: automobile parts and Access
SORES, except tires, 10.5 per cent; gaSo-
line, naphtha and other light products,
So per cert; refined copper ingots etc,
20 per cent, and leaf tobacco, 2.8 per
cent.
Where does wheat come in? It's
seventh on the list. Agricultural ma
chinery and implements. 2.7 per cent,
being sixth, and wheat, "a per cent, be-
ing seventh.
So seven times more cotton than
wheat was sold abroad in 1929.
Charles w. Merrill of the United
States Bureau of Mines has issued
most timely paper on gold and silver
production.
World production of silver from the
time of the discovery of America, 1892
to 1927, inclusive, has been more than
$4,000 900 900 ounces. This is about IA
times the weight Of gold produced dur
ing the same period.
But more silver has been produced
since 1888, period of 80 years, than
was produced in the preceding 1876
years.
The great silver countries of the past
ANtCt Ria LJnf11 arvY To
and Sweden. These were followed by
silver production in large quantities in
Bolivia, Peru and Mexico.
Then the United States began pro-
ducing precious metals. While it pro-
duced considerable silver during the last
half of the nineteenth century, it pro-
duced more gold than any other ma
ton.
In spite Of the fact that only II times
as much silver as gold Gin weight) has
been produced in the last 400 years, to-
day gold is worth about so times more
than silver, for the ratio Of silver to
gold stands about so to l.
Senator Reed Smoot paid his respects
to France, just before leaving Washing
ton this week for his honeymoon trip
to Honolulu
IAN examination will show that we
buy goods from France TO the value Of
sl65 900 900 per annum," said Senator
Smoot. I'VE also spend about 100000
600 of tourists money in France, so
that the French receive from us about
$3.50 900, 900 a year. as against about
$3.50 900 900 which they spend for goods
they purchase in the United States. So
the, trade balance favors France to the
extent of about $290000000 annually"
Now on the s156 900 900 Of goods ex-
ported, American tariffs were increased
by So, 900 900, and decreased $4,000
600 on other schedules. Many of the
items increased were pure Injuries. So
the tariff would not in any way affect the
volume of import. In all, the total
average tariff increases on French i'm
ports are about 3la per cent.
4 Look at the other side of the picture.
The French government has minimum
and maximum tariff within the boun-
diaries of which they bargain with other
countries for favored position. Sharp
determinations agains. American goods
have resulted in decreasing American
exports to France.
However, rot only France, but other
European nations-Spain, Italy and
Germany among them-have increased
their tariff schedules since the new
American tariff went 1910 effect last
month.
Who will be the next Canadian premier
Mackenzie King or r. B. Bennett?
That question will be decided today
when the Canadian people elect the
various members of Parliament through
out the Dominion.
If the Conservatives, led by Bennett
win, the United States may expect
higher Canadian tariff schedules thar
ever before. The Conservative leader
has many powerful business supporter