Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-08
.LAST-QUARTER GAIN
IN BUSINESS SEEN
WrigIey Expects Pickup in
All Lines During Re-
mainder of Year.
BY JOHN F. SINCLAIR.

Special Dispatch to The Star
NEW YORK, September 8-William
Wrigley, jr., Chicago business man and
sportsman, believes that the last quar-
ter of 1880 will be better in his bust
ness than that of 1929.
The Chicagoan sees nothing baSically
wrong with business itself. He thinks
It Is sound at the core and that as soon
as the bad effects of prosperity spree
have spent their force conditions will
move forward again, as they always
have in the past.
my idea is that business was on a
prosperity drunk for several years.
Many manufacturers increased their
output and expected that they could
keep on doing this as long as they were
in business. The supply was constantly
exceeding the demand-Some stocks
were selling at 80 times their earnings
or more. When this condition prevails
the morning after the night before Is
sure to put in an appearance.
Sees Production Gain.
Business was riding for a fall and
the fall was postponed very much
longer than most people thought 1t
would be- think that when the sur
plus merchandise has been gradually
absorbed it will be necessary for fac
tories that have been closed for three
or four days a week to start up very
nearly full time this Fall. because there
will be a demand for their product"
Mr. Wrigley believes a tremendous
wave of economy and a fear that the
present low prices of commodities now
prevailing will still go lower is really
what Is holding business back from a
new advance.
MY personal view of the general
business situation is that it will be
laN- f1n .aI
years. There is plenty OF cheap money,
wages have not been reduced and, now
that the surplus stock manufactured
during the hurry-up mechanically pc
Rod Is about exhausted, we should no.
tice a very considerable improvement in
the general business situation"
Mass Buying.
Mass production demands mass buy
ing, says John P. Frey, American Fed
Grafton of Labor official, in the mag
azine of Wall street, because he is con-
WINGED that the high rate Of production
and the high mechanical industry to
which American business is committed
cannot be sustained except at the pres
ent wage level.
'sIf coolie labor, with its low wage
and debased standard of living, was to
replace the mass of wage earnerS In the
united STATES, llOoL VI Jul DdoAO tllodo-
tries would close their DOORS" said Mr..
Frey.
It is the home market in the United
States upon which business prosperity
depends, because the wage-earning pro-
Queer is the largest consuming pur-
chaser
Undoubtedly, Mr. Frey agrees with
Henry Ford's statement that there Is
not a factory in America that was
built for shutting down.
Mr.. Frey gives a particularly apt ex-
ample to illustrate his point. He says
that the United States at present is in
the position of the patient having dill
ficulty in breathing. Does the doctor
reduce the volume of oxygen? Instead,
the clothing is loosened, the windows
are opened. and perhaps oxygen Is arti-
ficially administered. Unless the circu-
lation of oxygenized blood is maintained
the patient will collapse.
$50 it is with wages and prosperity.
The circulation of money is necessary.
Under our present industrial system the
circulation of economically sound wages
Is more essential than ever before" says
Mr.. Frey.
So this labor leader repeats his thesis
that mass production demands mass
buying; and mass buying demands
continually increasing purchasing power.
Shorter Hours.
Joseph Ryan, New York labor leader.
sees solution of the economic difncui-
ties of the present time in labors oe-
mand for shorter hours OF Work eacn
day and fewer days week.
Labor must receive high wages Tor
its hours, no matter how short; and It's
days, no matter how few" SAID MI ,;
RYAN recently. These wages, then, Will
t,1,
he enioyed in their leisure hours.
He. too, joins with other labor leaders
in urging unemployment insurance NOT
as a charity, but as right que the
workers from industry"
Charles p. Howard, president OF the
International Typographical Union, con
dennis the wage cuts as a factor IN oe-
LAYING a return to prosperity.
"Men now observe that business pros
peritv is inseparable from the purchas-
ing power of the masses" says Mr..
Howard 1.-The opportunity to sell de-
oendS upon the ability of the workers 10
Inv. and the ability of the workers "a
buy depends upon employment ana
In his address. this labor leader agrees
with many capitalists themselves tnat
reducing wages or deprivlng workers OF
employment is not remedy for business
depression.
Seeger's Career.
Few economists gained such enviable
nosition in the world of scholarship AND
business as did Henry r. Seeger, pro-
lessor of economics at Columbia Uni
versity, whose untimely death in Kew
Russia, 10 days ago, was announced
Prof Seeger was the author o.
numerous books on economics AND
finance and was honored by his col
leagues throughout the United states
with the presidency OF the American
Economic Association. ..
II was quite characteristic OF this
scholar that his last work should nave
been the taking over of party OF Wen
known American economists TO Russia
to make a careful and scientlflc STUDY o.
the workings of the f1ve-year plan
which Soviet Russia has undertaken.
In private life, Prof. Seeger was one
one of the simplest and kindliest o.
men, and thousands OF students wnt
listened to his lectures at Columbia VII
mourn his death as a distinct persona
The Nation itself has lost one of it!
most brilliant MINDS.
Dramatic Productions.
Not all dramatic productions succeed
In fact, the vast majority are Regarded
as failures. .1..;..
review, announces that of the IT'S ora
matte productions that opened In Nev
York between August /, 1929, and Jul
al. 1880. 81 per cent were regarded
failures. This is per cent more thai
in the preceding year:
In the profession, 1885 players acte
In the various New York dramatic pro
auctions and 1854 were seen in musics
shows.
The most frequently seen actress an
actor last year we're Eva lie Galhennt
who uerformed in IS plays, and Rober