Evening star., 1931-06-20

ASSW co.'s " . StO@k VIZ sssses. TvO
ing the past year time money rates
have gone down more than one-half.
Stock prices increased on the aver
age for the first time In flve weeks, but
"were still about 40 per cent below the
average price during the week ending
June IA, $780,"
Wholesale prices as measured by
Fishers composite index of 100 COM
modities, declined again to the lowest
point in the present recession.
For the week ending June the
New York Times composite index Of
general business activity showed a de-
cline of IA points, while the business
week composite index showed an in
crease Of 0.5 points.
The figures do not - yet indicate
any upward business trend.
Oh Production.
East Texas has reached Q critical
state in its oil production. Many in
dependent producers flnd themselves
drowning in oil.
Reflners cannot do the impossible
Recently, gasoline at the refineries
sold as low as 2H to az cents q gal
lon. It costs that much to refine a
| gallon of gasoline. So the crude oil
producer got little or nothing for his
product.
| things: Either many Of the small, less
efnciently operated Feflneries will have
to close down, or the oil producers will
have to shut In their oil flow until the
demand for the product increases.
The discovery of an oil gusl1er today
cannot, by any stretch of the imaginar
ton, be called lucky" "
That's why there has been . slew
! ing down in the spouting in Of new
wells in the rich Southwest oil fields.
ROosevelt's Speeches.
The speeches and writings Of Gov.
Roosevelt of New York are being
studied these days by business men
with increasing interest.
The Governor believes that the Phil
| ippines should be freed; that the tariff
should be modified, and that land taxes
should be lightened. His criticism, In
the recent issue Of Country Gentleman
Of the school system merits praise.
Simplify our schools" he says. II
don't mean any old-fogyish idea of set
ting the schools back half century
or so. What I mean is that they are
trying to teach too much, spreading
their efforts over too many things, on
the vague theory that some day some
! pupils will find use for them"
This criticism has been expressed
many times by leading educators
throughout the country. This new at
tack on q widespread abuse should
bring about an investigation into use
less school expense.
Wholesale Prices.
Good news is announced by the
Annalist weekly index of wholesale
commodity prices. It shows an ad-
vance Of 1908 on Tuesday, June 16-a
gain Of 0.3 for the postwar low Of 1905
last week and the previous week.
This is the first upward movement in
over three months. Not all industrial
prices, however, advanced. The in
creaSes were in farm, food and textile
products, but they were suficient to
Offset the losses in fuel, metals and
building material.
Melons Foreign Trip.
Every London newspaper is writing
long editorials and news items, trying
to figure out some reason why Secre-
tary Mellon Is in London.
The facts are simple. He has been
held close to his desk for nearly Q year.
Now his son is graduating from Cam
bridge. So. Mr.. Mellon decided to go
over, see his son graduate and take q
little vacation.
But the British do not believe it is
as simple as that. They embrace the
opportunity. to call attention to war
debt and reparation revisions. The
British believe he Is the only man in
America who can bring q change.
Because Of this feeling in Great Brit
ain, the Germans also want him to visit
Berlin, but the Secretary's friends be-
lieve that he will not 90 on to Ger
many and that he will return to the
United States within 10 days, sitter Wis
iting his daughter In Paris.
Drive ON Accidents.
Col. Dan Sewers, past director Of
the Americanism Commission of the
American Legion, announces that the
American Legion, with its 10000 posts
scattered all over the United States, is
starting drive in an effort to diminish
the number Of daily accidents.
"It marks our determination as men
to remain masters over the machine, !"
said Col. Sewers, "and to develop dis
cipline founded upon conscious morality
without which We shall become Q Ma
ton Of robots threatened with extinc-
ton.
I'VE may place flashing stop-and- go
lights on every corner, we may enact
traf1c laws and regulations as binding
as commandments revealed from the
mountain tops, but we viii fail unless
we succeed In developing men and
women in whom character, discipline
and morality are founded upon habit
Educators must keep pace with me-
chanical development"
(copyrisht, 1esl. by North American News
| DADeF Alliance. Ine1