Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-17
SEES BETTER PO|SE
IN MONEY MARKET
Cleveland Financier Believes
Next Bull Movement Will
Be Efficiently Managed.
BY JOHN F. SINCLAIR.

Special Dispatch to The Star.
NEW YORK, March 17.-Henry W
Hosford, Cleveland financier. thinks tina
the recent sharp cuts in the discoun
rates of the worlds central banks show
that the money market will be more
capably managed during the next bull
market than it was during the last one
1.-THE bulls now have the cooperation
of the governments of the world" Is the
way Mr. Hosford explains this.
Asked his opinion regarding the
rather impressive rise in stocks re.
Gently, Mr.. Hosford replied;
Collateral loans are lower than they
were November Is in spite of a 75-point
rise in the market. This indicates that
the absorption of stocks has been by
European buyers, domestic capitalists
and large investment trusts instead OF
by the public on margins. Such pur-
chases are not subject to sudden liqui-
dation, so I do not see how We could
have a substantial break in the market
until the public has bought stocks on
margin continuously for two or three
months"
But several other Shrewd market OBJ
servers already have put up the danger
sign, indicating that at present prices
the market has discounted conditions
too far ahead.
With the Nationwide agreementr-the
first of its kind ever completed-be-
tween the Plumbers and Steamf1tters'
Union and the National Automatic
Sprinkler Association of the United
al fNV fixra
day week, the subject of the length OF
the working week comes again to the
= front.
The f1ve-day week has been making
much progress lately in union circles,
especially in the building trade.
recent survey shows that the FIVE
day week already affects $4,000 carpen-
( ters in IL cities: 10000 painters in Is
cities, $4,000 building laborers in II
, cities, $4,000 bricklayers in IA cities
: $4,000 electrical workers in IL cities
$4,000 plasterers in 20 cities, $500
plumbers in II cities, 5000 steamfitters
in IL cities, $500 fathers in 19 cities
$500 structural ironworkerS in 10
cities. 1900 sheet metal workers in
Z cities, 5000 marble settlers in
cities, $500 elevator constructors in
in cities and 2,400 asbestor workers in
6 cities.
Inc recent announcement OF the
Standard Oil Co. of New Jersey that 1t
would reduce its refining to six-sevenths
of what it has been doing, retaining the
full seven days pay, is in line with the
shorter week movement.
Cutting down the number of work.
days and reducing wages proportion
ately, however, is no solution OF the
industrial unemployment problem.
Wayne D. Heydecker, secretary of the
Regional Plan Association of New York,
has announced that the industrial ia
cilitieS available for the development OF
Greater New York are more than ade-
quate for an expected population of 20,
000,0 900 persons in 1868.
The problem here is not one of land
scarcity, so much as the intelligent use
of land.
Mr.. Heydecker made a survey of rs
of the large cities of the country and
found that only per cent of the total
area of these cities is used for business
purposes, rs per cent for streets, 10 per
cent for parks and 10 per cent for in
dustry, leaving so per cent of the land
available for residential districts.
AS the trend of the modern city to-
day is away from further Capitalization
and toward a gradual decentralization
of industrial activities. the problem OF
city planning has undergone a radical
change.
In many ways New York, with her
teeming millions, is one of the most Ell
fectively planned cities in the world
today.
Copyright, 1880. by North American News
DaDer AllanGe.l