Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-12

While views regarding the immediate
outlook for cotton are not especially
| optimistic, decidedly bearish sentiment
seems absent Although some relief is
! expected as a result of proposed poll
| teal cures such improvement will. at
best, prove of a transitory nature. Sew
eral States are seriously considering
! putting into effect drastic curtailment
with Texas contemplating reduction
from 80 to so per cent.
A somewhat more definite program Of
| relief might result from the proposed
| international Cotton Conference in Lon
| don, suggested by the Egyptian authori-
| ties, for the purpose of discussing re-
duction in the cotton acreage for the
coming year. Other foreign growers are
| expected to join, and Washington may
also participate as soon as measures to
effect curtailment in the United States
have been adopted.
Time Ripe 10 Buying Mills.
According to George A. Sloan, presi
dent OF the Cotton Textile Institute,
prevailing low prices afford an unparal-
leled opportunity to cotton textile mills
in all sections of the United States.
with active cooperation of mer-
chants" says Mr.. Sloan, lin promptly
anticipating their stock requirements,
the plan should develop into general
business improvement with direct bene-
fits to 100000 people, who are de-
pendent upon cotton growing and man
ufacturing and result in an increase in
the purchasing power of farm and mill
communities"
With conditions abroad as chaotic as
they are, the reduction In the dividend
INT T'olonhOrn uhiph
ates almost exclusively in foreign coun-
tries, did not come as a complete sur
prise Earnings for the first half of this
year aggregated 81 cents a share, as
compared with dividend requirements
Of 81.
To q certain extent it is regrettable
that the OLD rate could not be main
tanned. largely because of the wide dis
tribution Of the shares among foreign
investors. and the fact that the reduc-
ton may tend to impair somewhat the
good will of the company, so essential to
any corporation, especially public util-
ity enterprise.
Ideas Of Value Upset.
Normal ideas of value are being upset
by discriminate price cutting, producing
"a lottery state OF mind" in the Ameri-
can people. according to Edward L.
and chairman OF the special committee
of the New York Board of Trade, con-
Quoting a survey on retail pricing.
Mr.. Plaut especially regrets the situa-
ton which exists in the drug business.
where retail pricing has never been more
chaotic and values never so flagrantly
violated as now.
An amicable settlement in connec-
ton with the radio corporations pat
ent suits pending with the Government
is predicted by David Sarnoff. presi-
dent of the company.
Mr.. Sarnoff adds that the corpora
tons business is progressing as well
as can be expected. that the dividend
requirements on the preferred stocks
have been covered during the first six
months operations, and that the best
period of business is still ahead. the
last quarter being normally the best
from the standpoint of earnings.
Sales Gain 80 Per Cent.
Operation at capacity for the re-
mainder Of the year Is expected by
George F.. Johnson. chairman Of the
Endicott- johnson Co. For the past