Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-14
BY l. A. FLEMING.

Overproduction stands clearly ip-
dicted before the whole world as the
prime cause Of the present world un-
rest, unemployment depression and
more or less neglect of the security
markets. Moreover, the indictment
will not be quashed.
Wheat farmers were warned a year
ago, two years ago, to reduce acreage
in wheat; cotton planters were urged
to follow suit; the sugar market gave
promise of being burdened unless pro-
duction was curtailed.
The housing problem" long since
passed the acute stage and reached
the point where stores and apartments
were too numerous, but more were
erected. New apartments filled slowly
and older ones were vacated and many
dollar Of invested capital has ceased
to be productive.
At a sugar conference In Brussels
on Thursday of last week Thomas L.
Chadbourne of New York, a Cuban
American delegate, startled the dele
clared among other things that the
"capitalistic system was on trial at
the present restriction (of sugar pro-
duction) meeting" Something bigger
and of worldwide Importance. He
urged them to act wisely in the matter
and added, and remember that while
you are thinking of it, you may set
an example that, If wise, will be fol-
lowed by other industries and will
establish production on a balanced
basis"
Mr.. Chadbourne then went ON to
show the enormous amounts of surplus
sugar in the hands OF producers.
The present Congress will undoubt-
edly be of an investigating turn Of
mind and is likely to undertake a solu-
ton of the amazing difference between
the prices paid to the producers and
the charges for the same materials by
the retailer, and there is certainly a
prolific field for deep digging in this
subject.
May Be a Partial Remedy.
Many people who at first looked upon
the agitation for a f1ve-day week as All
attempt of union labor to take ad-
vantage of a situation now give the
matter more serious consideration and
are not prepared to say that it may
not be the very brake needed on pro-
duction and an open sesame for larger
employment of man-power.
A f1ve-day week is not such radical
change as might seem at first glance.
Saturday morning workers are always in
a hurry and clock-watchers par excel
lence. A flve-day week would be ex-
pected to bring concessions to employers.
Harmony-No Extras.
1t might bring harmony between en-
ployers and employees and mitigate
against the bugaboo of extra time"
Electrical workers are winning the
f1ve-day week on this basis. In New
York City they suggested the matter to
contractors on removing the big trans
formers from Eighth avenue in prepara-
ton for the subway building to be built
there.
Leaders of the electricians offered, In
reply to objections, to "stagger" the
week without the usual regard to the
opening or closing of the week, and
without making after hours" an issue
at all. The result was an agreement.
The wheat farmer, the cotton planter,
the textile maker the sugar planter, the
automobile manufacturer, ETC., etc.,
have had bitter experiences, just as the
stock market interests have had
Increased consumption would be the
best remedy.
Predict Lower Prices.
Prices Of clothing have sustained a
big decline, other things of cotton,
woolen and silk are appreciably under
old-time prices, but a further slashing
OF prices Is indicated Immediately after
the holidays, when merchants will start
clearing their shelves for new goods.
Stock Market Situation.
II hope deferred" actually "maketh
the heart SICK" there must be many
cases OF heart disease among holders
OF securities, that patient group of
men and women who are carrying their |
waiting for the long promised come |
back" And yet there doesn't seem to |
be anything to do but have faith and |
hang on.
Henry CIews Co.'s Views.
One of the oldest houses on the Street !
sizes up the market situation as fol- |
lows
1T continues to be true that trading
Is fundamentally professional That the |
declines, aided by short sales, which |
have been engineered in q good many /
shares have established a technical con-
dition which must result in a ralIy
shortly seems quite likely. AS a matter
Of fact short selling has rather been
overdone and any good news that NAV
make It's appearance could easily pro-
duce 3 good rally, particularly as there
mas been a general discounting of
possible bad news, whiclR may not ma
terialize. In most shares a genuinely
solid basis for investment has I'M
doubtedly been arrived at, and whatever
dips or irregular movements nav here
atter take place, they are fairi9 certain