Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-24
Head Of Los Angeles Instl-
tuition Sees Slow but.
Steady Recovery.
FINDS CITRUS GROWERS
IN FORTUNATE SITUATION
Increase in Motion Picture Sehed-
ules Is Hopeful Sign, He
Declares.
BY JOHN F. SINCLAIR.

NEW YORK, August % IN. A. N. A..
Horace Dunbar, vice president of the
Citizens National Trust & Savings Bank
of Los Angeles, thinks the present bust
ness situation in the West Is swinging
upward for slow but steady pull"
Our banks are well supplied with
money for the purpose of reviving in
dustry and the increase in savings ac-
counts would indicate that our people
are thinking more about thrift than
about speculation" says Mr.. Dunbar.
Referring to the citrus industry, this
California banker says:
THE citrus growers of California are
in prosperous and fortunate position.
The Valencia orange crop this year mas
been comparatively small, but prices
we're satisfactory. All over the UniSd
States lemons are in demand at high
prices, which means fine profit for
the producers. The prospects of o5th
navel and Valencia orange crops for
the coming season are encouraging"
In Southern California the motion
picture business is a major one. THE
motion picture industry makes for pros
perity when it makes good pictures"
says Mr.. Dunbar. 1.-THE larger COM
panies in California are on a heavier
schedule than year ago, With more
featured productions at greater expense
and with more employees"
So the Far West territory, centering
about Los Angeles, seems full of con-
fidence for the future.
Per Capita Money Circulation.
The per capita money in circulation
in the United States declined from
$40.9 reached last November, to $36.28
at the end of July this year.
To the man on the street, this de-
crease in the physical money in circu-
lation means less business due to the
income reduction Of the great mass OF
consumers.
While the United States carries on
more than 90 per cent of its entire
business transactions by check, the
small day-by-day deals are still largely
handled by cash. One chain grocery
and meat company takes in $4,000 900
a day In cash. the result Of hundreds
Of thousands Of individual sales.
So q decrease of nearly 10 per cent
in the volume of actual money out
standing, reflects largely the decreased
business activity among those who pay
their bills in this way.
Miniature Golf Courses.
On a 1,500-mile motor trip from the
Middle West to New York recently, this
writer observed one healthy humming
activity. In nearly every city and town
along the route miniature golf courses
were being installed, while those al
ready in operation were reporting q
boom" business.
Nothing quite like the miniature golf
mania has occurred in the United
States and Canada in recent years. A
year ago they were unknown-eXcepS
in Florida and one or two other Win
ter resorts. Today hardly city or q
town of any size but what claims either
one in operation or the promise OF one
soon.
Profits in some Of them have been
very large. The majority are doing q
very satisfactory business. But with
the number of new ones spring1ng up
like mushrooms daily, it Will not be
long before the large profits VIII ne
thing of the past.
In spite Of the new and unexpected
competition, all golf courses are report
ed to be just as active TINS year rs e S,',,:
Here's one lusty business expanding
and growing like wildflre, In spite OF
slow business In many other lines.
Gold Production.
DR.. T.. w. Kemmerer Of Princeton
University now on his way to Colombia,
where he has been called into conSulta-
ton in connection with important
financial arrangements, made this COM
ment before leaving:
'The worlds future production of
gold is a great uncertainty. Whether
it will increase more or less rapidly
than the world demand for 1t Is highly
debatable: and, If our present gold
standard is continued without render
ing it adaptable to a changing supply
Of gold, the question is highly I'M
portant one, for upon its answer Will
largely depend the welfare OF nterauy
e ~ V1oNY1la ~
Dr. Kemmerer's report on emma,
iust announced, advocates the gradual
adoption of the gold standard. Anttci-
pating the criticism that such policy,
if adopted, would tend to increase the
purchasing power of gold, and thus
lower the general level of prices in the
gold standard countries, he argued that
China, just as much as any otner ma
ton. is entitled to the benefits OF q
stabilized rate of exchange with the
principal commercial countries Of the
world, II her trade and commerce are
to be developed In the same way as
other nations China, potentially the
richest of nations, must not be handi-
capped.
China may mean temporary reao.
countries, but. in the end, there is no
other way for her to develop" said
this Princeton professor.
So the gold problem Is assuming
more and more a place Of major I'M
portaisce in world affairs.
Motion Picture Industry.
The motion picture theaters are be-
ginning to report increased crowds with
the advent of the cooler weather.
OF the &c, 900 theaters in the United
States, only about 400 are equipped
with refrigerating systems, most OF
which are installed in firSt-run theaters
in the larger cities. Other theaters are
installing cooling equipment as fast as
possible, but the number completed
will not probably exceed 500 this year..
Motion picture leaders are concen-
trating more on plot and less on the
spectacular than they did last year: q
Plot detail and better knit stories are
reported to be the next order Of things.
Good pictures almost always bring
satisfactory box ONCE returns.
So the motion picture industry Is an
ticipating a very satisfactory Fall and
Winter trade.
(Copyright, $780, by North American News
paper Alliance)