Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-12-05
Everybody's
Business
Bearish Runors, Circulated
IN Wall Street, Are Given
Credence by an Increas-
ing Number of PEOPLE.
BY DIR. MAX WINKLER-

Special Dispatch TO The Star.
NEW YORK, December 5.-Vicious
rumors CnCe again dominate the finan-
cial situation. The prophets Of woe
continue their dire predictions with
impunity. Furthermore, their follow
ers are increasing at a rapid rate.
The latest news Of an adverse ma
ture, which seems TO have gained
credence in Wall Street circles, relates
to international conditions, notably in
Germany. Il includes among others a
report that the gold standard will be
abandoned by the Reich at once, that
Broening will resign, that Hitler will
be called upon to form a new cabinet
and that all debts will be repudiated.
These runners have been current be-
fore Some Of them may be true. AS
to the gold standard, Germany has
been off it, for all practical purposes,
since July.
AS to Bruening, he may, Of course,
tender his resignation and Hitler may
succeed him. But, let it be remem-
| bered, a Hitler in the Reichstag is
going to prove a different person from
Hitler in the beer hall, addressing
| his disciples. That Germany will re-
pudiate her contractual obligations is
simply uncomfortable.
Paish Plan Recalled.
Relief is promised to corporations
and other businesses which have been
I hard hit by the depression. President
| Hoover is expected to recommend to
| Congress, among numerous other things
| which have already been referred TO,
| the creation of a new Emergency
Finance Commission along the lines
| Of the War Finance Cooperation. The
new enterprise is expected to have a
capitalization of $1,000 900 900, which
should prove sufficient for any legiti-
mate call in support Of credit
| This project recalls q somewhat sim
| liar one proposed Immediately follow
| ing the World War by Sir George
PaiSh. Sir George felt that the only
way to bring about the rehabilitation
Of War-torn world was through the
| formation Of billion dollar bank. The
! project died before it was born. 1t is
! hoped and expected that fate will be
more kindly disposed toward the many
| institutions which are proposed and
, which are brought into being fer the
purpose Of ending the present eco
nonic crisis than it was to the enter
prise suggested by the English econ
omist.
Pacific Gas & Electric.
Earnings of the Pacific Gas g. Elec.
trio Co. for the current year are esti.
mated at S275 a share by c. P. Cutten
attorney for the company This viii
compare with a net of S3O7 a share
reported for 1890 Mr.. Cutten also
points out that the new business de-
partments Of the company estimate
1882 prospects at S8,O0OO00 gross
against $l0,00o00O obtained in 1881.
Cash Position of Railroad.
The cash position of the St, Louis.
San Francisco Railway is suficiently
good to meet its interest on January /
according to j. M Kurn, the president
vided for.
AS to the wage question, Mr.. Kurr
Is OF the opinion that the labor men al
the convention in Chicago will find 4
advisable to take a wage cut of 10 PEI
cent for one year from December /
New Bank Proposed.
There seems to be one remedy 70,
all economic ailments, the formation O
bank. At the meeting of the Ameri
4 can Mining Congress the suggestion wa
mace to create a central bank to dea
exclusively with coal equipment OF
terms which will assure The congress