Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-11
IMPROVED BANKING
IS SEEN
Activity and Strength in
- Stocks Are Aided by
Better Credit.
BY JOHN F. SINCLAIR.

special Dispatch to The Star.
q. NEW YORK. April 11:-Another
5000, 000-share day on the New York
Stock Exchanged Some 100000 shares
changed hands yesterday in the first
two hours-a record for 1880.
.5,Public utility stocks were In great
demand, led by International Telephone,
Westinghouse, General Electric and
Public Service of New Jersey.
THE latest banking statement, giving
the positions of the reporting member
banks, is favorable. While commercial
loans are back to where they were two
years ago, they are 398,000,000 lower
than they were this time last year.
AT the same time the statement
showed that member banks had on de-
poSit with the Reserve banks last week
Sk739, 900, 600, and had borrowed only
$82, 1000, 900 from the Federal Reserve.
Brokers loans are nearly $4,000, OOO, 600
less than they were on october 4 last,
and 81, $50 ,000, 900 below what they were
a year ago. Yes, the banking situation
is becoming the most favorable factor
I'm business recovery.
Perhaps this explains one reason why
the stock market Is so active.
= julius H. Barnes, head of the Ma
tional Business Survey Conference,
thinks unemployment can be MADE
much less severe by more orderly set
up in industry.
archaeological unemployment is in
herent in a fluid economic ana soclai
structure" says Mr.. Barnes. Unem-
"nloyment which results incidentally
from the substitution of science and in
vention, by which the productivity OF
every single pair of hands is greatly IN
Creased, IS not of itself social evil.
However, it may contribute 10 tne
process of aggregate national progress
and aid to the aggregate national
wealth. but such chronological dlspiace,
,faent bears great distress for the afnlcteo
individual Here lies the challenge ano
stimulus to modern Industrial 4eaoer-
ship" .,,,
-. Trr,,e-but what is to be done about
it?
Miss Frances Perkins, chairman OF
the State Industrial Board OF New YORK
author of many books on labor ana IN
dustrial problems, mas neen NOR &c e.
sponsible for directing the attention o.
the country to the serious unemploy-
n1ent crisis than probably any otnel
public official in America. ,.
When Federal officials were discount
ing the growing unemployment ngureS
she persistently published the iactS.
IA graduate of Mount Holyoke, MIS-
Perkins took postgraduate work ootr
at PENNSYLVANIA and Columbia UNIVERSE
ties. specializing in labor problems; She
BECAME a lecturer in sociology at Adelph
college in 1911, but year later she
became director of investigations fol
the New York State Factory Commits
sion.
20 In 1919 she was appointed a member
Of the New York State Industrial Com
mission and four years later member
of +Ia State Industrial Board.
49, 40 Involuntary unemployment inevi'
table? Miss Perkins answers by Saylne
that the maintenance of wage equili-
brium and long-range business anc
industrial planning can do much u
scure it.
But facts-candid, unbiased, compre'
hensive-must first be collected. Tit
lack of this sort of information is a Sc
,rious handicap-largely inexcusable, too
Miss Perkins says.
copyright, 1880. by North American News
paper Alliance.)