Evening star., 1930-12-16
GROWTH OF TRUST
BUSINESS IS RAPID
Official of New York Com
pany Comments on Improve
ment in Methods.
BY JOHN F. SINCLAIR.

Ia SOAAAN 6AGNOAAAAss
Special Dispatch to The Star.
NEW YORK, December 16-Francis
II. Sisson, vice president of the Guar
anty Trust Co. of New York, says there
Is mo stagnation in the trust business"
In recent years this business has
been growing steadily. Thousands Of
estates pass into other hands each year
and a large percentage of the business
Is now handled by the various trust
companies throughout the country.
Mr.. Sisson believes the astonishing
growth in the trust companys business
Is due to the increasing business ef-
1ciency" Of their managements.
1T Is not enough that the resources
of the trust companies or the banks
stand behind each trust as bulwark
of safety" Mr.. Sisson told me, "the
operating efficiency of the institution is
the basis of its permanency."
Mr.. Sisson believes that the results
have thoroughly demonstrated that in
spite of the fact that the business Is
growing by leaps and bounds, the degree
Of trust efficiency" has been increas-
ing in an even greater degree.
Sugar Price Sterilization.
Thomas L. Chadbourne Of New York
and his Cuban associates, meeting In
Brussels, have been rnding much
more dificulty in persuading the beet
sugar growers Of Europe to agree to
O reduction in acreage than they ex-
perienced with the Javanese products
ct the conference in Amsterdam
Java agreed to restrict exports to
100000 tons in 1881, compared with
the normal exportable surplus Of
2,700, 900 tons.
OF course, this Is not the whole
story, for Java is allowed to increase
her exports at the rate Of 100000 tons
each year until 1885, when 2,750,000
tons are allowable.
Thus Java will reduce its production
by about los per cent for the five-year
period. Cuba, on the other hand, has
agreed to cut down her production to
about 23 per cent and in addition to
hold back 100000 tons Of sugar for
marketing over the next few years, at
the rate Of 100000 tons per year. So
It is Cuba-not Java-where the real
sacrifice is being made.
II the beet sugar groups Of Europe
can be persuaded to agree, it might
work out, even though no world re-
striction program has yet succeeded in
any industry.
Commenting upon this subject, the
Brooknnire Economic Service says:
I'VE have felt for some time that the
sugar industry has had more than its
share of troubles and view the present
attempt to rectify this condition as
dustifed."
It's an experiment very much worth
watching, for, II it succeeds, it may be
the beginning Of world agreements IN
other nnes-such IS tin, coffee, wheat
and copper.
Conference Near Breakup.
But the outlook at Brussels was pretty
dark yesterday. Press reports indi-
Gated q breakup Of the conference,
which Is being attended by the sugar
representatives Of Cuba, Java. Poland,
Belgium, Czechoslovakia and Germany.
II such Q breakup occurs, Germany
VII be blamed. She Is in a tickliSh
position-one not exactly to be envied.
But what can Germany do? She
needs, and must have, exportable goods
20 pay her huge debts abroad. When
the Belgian conference asked her 70
make o drastic reduction In her beet
sugar exports over the next five years,
mhe agreed to cooperate, but Ger
lnany's minimum figure is 100000 tons
d year more than the one acceptable to
other members Of the Chadbourne
conference.
without the cooperation Of Germany,
he conference must inevitably go on the
rocks. As one observer puts it: Just
smother good intention gone wrong:
Perhaps Germany win reconsider
maybe q compromise may be reached
Today. The next "A hours should pretty
well tel the story.
The New Calendar.
One by one, large Industrial COM
panies are adopting the l3-month cal
endari
The real drive for this calendar was
started by George Eastman, the Roches-
ter camera manufactures, who saw in II
great possibilities for the simplihcation
Of the business structure, especially In
the field of bookkeeping and auditing.
The Kroger Grocery g. Baking Co. Is
The latest company to announce that be-
ginning in January it will use this cal
endar in all its thousands Of stores.
It Is expected that the new arrange
krent will enable the various store man.
Rgers to give better comparison OF
sales and cost figures, because every
months win be exactly four weeks, or 2s
days each.
Barnes Optimistic.
Julius H. Barnes, chairman Of the
National Business Survey Conference,
refuses to become pessimiStic over the
Has not the Christmas savings fund
this year exceeded $500 ,000, 900 and win
not 3s per cent Of this be spent this
year?
True, automoDle proouctlon Ior the
FIRST IL months was down 23 per cent,
with foreign sales Of 43 per cent; gas
pline ref1neries ran at two-thirds ca
pacity, pig iron output was 30 per cent
sower than q year ago, steel mills op-
GRATED at two-thirds capacity and new
capital issues foated was 81 per cent
less than last year.
All true-but retail trade shows up
Well-od only per cent; collections
are good, according to Mr.. Barnes, and
anstallment buying is on the decrease
The conference Is watching closely to
see when consumption in the various
industries equals or exceeds present
production. Then the dig into surplus
stock begins. And when this Is out
Of the way, business viii again become
normal.
(Copyright 1890. By North American News
paper Alliance1
nn0KED nHIEC DAIcEn