Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-16
Business Storm Passing


recession somewhat more severe thar
I last year, but are buoyed up bv tn,
promise Of one of the largest public
construction years in history.
Sh1pbu1lding is advancing and will bt
| aided materially by the opening of 4
dozen new ocean mail routes by the
Government Employment actually in.
creased in the shipyards during thu
Winter, as compared with a wear ago
and when Government bids are awarded
In the near future capacity business fol
more than the year will be assured.
Manufacturers Of automobiles anc
radios took the full force of last
Autumn's shock, and production de.
clned materially during the Winter
Liquidation OF surplus stock now seems
about completed, and automobile
production IS now above the 1928 level
although below last years. In the
radio field the outlook is not vet clear
but the necessary price cuttings of the
Winter have at least cleared radio
stocks in this infant industry.
There are some bad spots. Textiles
and leather have suffered during the
Winter, but their plight is of many
years standing, and it is difficult to fine
a connection between troubles of the
moment and the stock market collapse
These industries are in need of eXtraor-
binary skill in treatment.
It is well to remember that rarely is
there active prosperity through the
whole gamut of industry. There is con-
slant shifting of differing industries be-
tween robust health, unexpected all
mentS and convalescence. There is 9
fine chapter Of courage, fortitude ano
vision in the rebuilding of affected in
dustries. No outside aid can equal these
qualities applied by the responsible
managers and owners of industry.
In agriculture, as always in that far
flung industry, there is both good anc
i'll of promise. Hog prices are good, cat.
tie fair, sheep and lambs depressed
orally excellent. Milk and dairy prod.
uctS are lower than last year. but mo-
distressing. The farm price Of corn il
rs cents higher than on the Argentine
farm Wheat in Chicago is as high a!
in Liverpool, and in spite of a lont
fall in price during recent months, il
now 20 cents above the price of las
May. Cotton is neither reassuringly
high nor alarmingly low. With reason
able stability now and progressive
economies in farm production farm
that of last year.
Note Of Optimism Is Apparent.
On the whole, today, note of op
timism is apparent among the vas
majority of industries. We were fortu
nate that organized industries had de
veloped, through national associations
the means of collecting and exchanging
exact information. This Winter, IL
marked distinction to other periods o
business depression, individual judg
ment has not been warped by false ant
exaggerated rumorS. Some conservative
business men, who have been through
these economic crises before. believes
that for an upward swing OF bushes
prosperity there must be correspond
| ing downward sweep, with distress an'
suffering inevitable during the .perio
of reimbursement. They believed tina
nature, both human and business
should take its course.
But there were many reassuring fac
| tors entering into this particular reces
sion, with all of which President Hoove
was familiar. In q dozen years OF clos
contact with American business he hat
full knowledge of improvement in bust
ness practices In the deflation of 1872
excessive stocks of goods, acquired a
very high prices, cost the country ap
proximately a $4,000, 100000 loss il
value. But since that time hand-to
mouth buying and adequate transporta
ton had protected the manufacturers
the distributor and the merchant agains
the hazards of large accumulations
American business. under Mr.. Hoover
leadership, was not content WITH tact
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