Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-29
Everybody's
Business
S1eesss Of British Nasional-
ISIS Vie.0ed W'th Favor
Both a Home and
abroad.
By DIR. MAX WINSKkER.
eelal D4spatch 70 The star.

BY DIX MAX 3AFN&33hs
Special Dispatch 70 The star.
NEW YORK, October 2e.-The marked
success of the National party in Great
Britain's election may be viewed with
favor, not only from the standpoint OF
Great Britain, but also from that OF
other countries.
If the opposition had been victorious
It is reasonable TO assume that they
would have resorted to various kinds OF
unsound economic and financial policies
to relieve the countTy's plight. Such
measures would have tended TO render
existing conditions even worse.
The coalition government, dominated
by the Conservatives, should be able tc
put through, without fear Of interior
ence, such measures as are likely to aid
greatly in the rehabilitation Of Great
Britain's finances.
Tariff Fear Looms.
As 8 large number Of those who are
going to compose the new regime are
known to be In favor of protective tar
ifs, some uneasiness Is likely to be dis
played by countries which supply Great
Britain with large quantities Of mer-
chandise Fear that this may happen
eventually may have been responsible
for the selling on the New York Elk
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of yesterdays trading.
It is, however, safe to assert that
nothing win be undertaken which would
tend to impair Great Britainis COM
mercial or financial relations with heI
neighbors.
Some disappointment was registered
/ following the reduction in the Pennsyl-
vania dividend to So. 1t had been ex-
pected that the So rate would be main
4 a. all tw. xF4, -
tinuance of the regular and extra pay.
ments by the Norfolk g. Western.
Pennsy Cut Explained.
On careful analysis. however, the &C
ton by the Pennsylvania board is ex.
plainable. Reduced income from its
New Haven holdings, the relatively
large amount placed in the Wabash and
| Lehigh Valley situation, without pros
poets of large returns in the immedi-
ate future: fear of q possible reduction
in the Long Island rate and require
ments in connection with the roads
Identification program made it neces-
Sary for the road to conserve its cash
as much as is within its power to do so
The pronounced rise in the price Of
wheat is attributable largely to the be-
| lief that France is. negotiating with the
| American Farm Board for the purchase
| of 10000 900 bushels
Although it is generally believed the
| deal will 60 through, 1t should be borne
| in mind that certain obstacles are bounc
to arise which, temporarily at least, may
block the transaction. For instance
French agricultural interests may pro-
test against the importation of wheat
in so large a volume. Only recently
French farmers sought to bar all i'm
ported wheat through q higher duty or
the commodity.
The attitude of some Of Frances al
| lies also will have to be taken into &C.
count, notably Rumania, one of the
leading wheat-producing countries or
| the continent.
A., T. & S. F. Earnings OF.
While he did not indicate to what
extent the decrease last month in gross
revenues of the Atchison, Topeka 4
Santa Fe Railroad win be reflected In
net operating income, w. B. Storey
president OF the road, points out that
September results were very disappoint-
ing.
The shrinkage, according to Mr.
| Storey, amounts to 26.5 per cent anC
| Is the greatest decline registered dur,
| ing any month so far this year. With
October loadings of between is anC
20 per cent from 1880, the immediate
outlook cannot be viewed very opti.
mistically.
Relative flrmness In the shares O.
the Hershey Chocolate Corporation i
explained by the earnings statement
covering the first nine months of the
current year. After covering all charges
and providing for the dividend on the
preferred the balance available for the
common shows gain over the hrst
three quarters Of 1890 Of almost IA pei
cent.
Chocolate Sales Up.
In this connection it is of interest t.
point out that United States chocolate
manufacturers show sales increase OF
IS per cent In September, 1881, oveI
August and that, even though a SHARP
seasonal improvement is normal fol-
September, the gain this year was
greater than any Of the past four years
There seems to be no indication of q
pickup in business, according Il
Charles Donnelly president of the
Northern Pacific, in commenting upon
decline of about "a per cent in the
gross revenue of the road so far this
month as compared with the same Pc
Rod last year.
Grain traffic, Mr.. Donnelly says, il
unusually light and no orders have az
yet been placed for rails, although
some purchases are expected to be
made, amounting to less than 10000
tons, against q normal order Of about
| $4,000 tons.
Steel Rounds Turn.
There are indications that the steel
industry is now engaged in rounding a
turn, and October may be left behind
as the low month in steel production
according to competent steel au-
thority. He also points out that If this
should occur 1t would be very impress
Sive, because the usual course is down
ward at this time of the year.
This view seems to be borne out by
Chamber OF Commerce report show
ing improvement in business conditions
notably IN the steel industry, with some
manufacturers, including Carnegie Steel
and Weirton Steel, reporting increases
In operations ranging from to 10 per
cent.
In response to inquiries as to whether
Holland contemplates abandoning the
gold standard, the Netherland Bank
stated emphatically that the country
intends to maintain the gold standard
ADDITIONALLY, that there is no infia-
ton OF the currency, that none is ex-
pected and that the gold position of
the Central Bank is stronger than 1t
ever was before.
The Dutch guilder is protected by q
cover OF gold. silver, foreign exchanges
and credits held "broad, aggregating