Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-21
SAVINGS DEPOSITS
INCREASE RAPIDLY
Quieter Pace of Business Is
Noted, With Prospects
for Gain in Fall.
BY JOHN F. SINCLAIR.

Special Dispatch to The Star.
NEW YORK. April 21.-"The people
are saving again. Look at the gain oil
$4,000, 900 in New York saving banks
deposits during March-2l 900 new &C
counts opened in 80 days in that one
State"
This comment is from an old school
banker, one who is against installmert
buying modern credit methods and the
mad searching after new wants.
While business in the United States is
nothing to cheer about, it is not bad
enough to cry over either. The Ma
tional City Banks compilation of tie
profits of 1920 manufacturing and
trading companies for 1929 showed
S4160, 000,0 900, an increase of II per
cent over 1928, and that year showed
almost as large increase over 1927,
while 1927 showed large gains over 1925.
The fact is, the entire world is taking
a rest. 1t has been running full speed
up hill for seven years, and now it has
dropped into walk.
This explains why the United States
exports were 1886, 900, 900 less for the
first quarter this year than last-about
20 per cent less. 1t is not local con-
dition. Business is slow everywhere.
But it will recover. 1t always has.
Just when?" That's a hard queS-
ton to answer. But the best opinion
inclines to the belief that March saw
the worst of the Gcrrnssion. From now
on business should - rove gradually
The Summer trade probably will Ne
fair, and business during the Fall should
be satisfactory.
The year 1881. according to present
indications, should begin substantial,
prosperous business era.
Should an author or playwright have
fiIll CONTROL If hic Unrkg under
the copyright laws? The authors say
yes" Producers, led by Lee Shubert
and Al Woods, say mo"
According to Mr.. Shubert, at least
20 per cent of all plays produced are
failures. So the only way the producer
can recover his losses is to make it up
by selling the motion picture rights to
the plays.
THE author takes no risk, makes
much profit and leaves the producer
holding the bag" say the theatrical
producers. Backing up this contention,
William Klein, counsel for ShubertS,
gives few royalties turned over to au-
thors recently as follows:
The Desert Song" $4,000.
The Student Prince" $4,000.
blossom Time" $685., 900.
GOOD News" 100000.
potash and Perlmutter." $378,285.
''Trial of Mary Dugan," $312,650.
broadway" 100000.
1.-THE Bat" 100000.
1.-THE Green Hat" S236,4l1.
"Friendly Enemies" $232,331.
New Moon" $685. 900.
"Abie's Irish Rose" was much more
screen. The stage royalties to its au-
thor, Anne Nichols, ran over $1,000 900.
The problem, here raised, is new
one, precipitated largely by the
s'talkies"
The changing banking policy of
the United States is attracting Nation
wide attention.
While majority of the banking and
currency committee of the House of
Representatives seems inclined to favor
the plans of the big banking leaders.
Mr.. Average Man is doing some think
ing Of his own.
He is finding out that already per
cent of the banks control approximate
~ half of the banking assets of the
Nation-that while banking assets in
the smaller communities are decreas-
ing, New Yorks banking assets are
moving ahead. Today "a banks in New
York control about one-sixth Of the
country's resources.
Mr.. Average Man, too, knows the
weaknesses as we'll as the strong points
of the small bank. He knows that in
the nine-year period from July, 1920.
to July, 1929, nearly 5000 banks closed,
involving deposits of about $1,5o0,o00,-
600.
Louis T. McFadden, chairman of the
committee on banking and currency Of
the House of Representatives, says the
great issue raised by the new banking
policy now Is:
Whether the head of a great bank
ing group, sitting at his desk in Wall
Street, shall be permitted to say to John
Smith, farmer in South Dakota. We
will not permit your bank to lend you
money or to say to Richard Doe,
merchant in California, You must cut
down your loans or pay higher rate
of interest
In Mr.. McFadden's opinion:
''It is this issue which, in the final
analysis. will have to be tried by the
American people through their Repre-
sentatives in Congress-
In the field of domestic business, no
question Is more vital and important
than this one of banking policy.
(Copyright 1880, by North American News
paper Auiancel