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

Confidence Teacher Needed.
Wanted-A leader What the United
States needs toGay above everything
else Is a leader who will teach Ameri-
cans to have confidence in themselves
as we'll as in their neighbors-a leader
who Will teach them how to utilize the
enormous resources with which their
country is blessed.
The United States now produces so
per cent of the worlds pig iron, So per
cent of the worlds copper. 43 per cent
Of the worlds coal, 70 per cent of the
worlds petroleum. 50 per cent of the
worlds cotton and lumber and possesses
20 per cent Of the worlds developed
water power. It occupies the unique
position of being simultaneously the
worlds greatest producer and exporter
of goods and the principal reservoir of
capital.
Furthermore, the United States is
country whose national wealth exceeds
$4,000 per capita. whose annual income
is normally more than $3.50 per capita.
whose annual per capita savings ap-
proximate Sl70. whose annual govern
mental revenue amounts to about $50
per capita. whose investments abroad
are approximately $3.50 per capita and
which has life insurance in force
And all these impressive figures point
to one thing-that Americans sadly
need a leader who will call their at
tention forcefully and convincingly to
the pre-eminent position which their
country holds among the nations of the
world and which cannot but point to
a future more brilliant than the past
and more cheerful than the present
future open to all who are willing
to believe in the greatness of the coun
try. its vast resources and their own
industry.
Better Terms on Wheat Urged.
While efforts to sell wheat to Ger
many on credit have been successful. 1t
should be emphasized again that deals
of this character, in order to be eff
fective. must be on somewhat more
equitable terms. The present transact
ton involves the sale of 100000 tons of
hard Winter wheat by the United
States Farm Board. at so per cent above
the Chicago market en- future deliveries,
with interest at 4 per cent. The credit
is scheduled to run for three years.
Although Germany has accepted these
terms, there is no reason why more
satisfactory arrangements could not
have been made in regard to price and
rate of interest. SO as not to give Of
lSIlSS 10 I6lIlldLl anu lClA~
der the deal of more material benefit
to both the United States and Germany.
At prevailing levels, Rock Island COM
mon gives a rather abnormal yield of
close to IA per cent, assuming the main
tenance of the 81 dividend. A change
in the rate is likely to be effected at
the meeting scheduled for this week.
Entire omission is also being mentioned
in some quarters.
No Change on Preferred Seen.
No changes are expected to be made
in regard to the two classes of preferred
stocks, the requirements on which have
been covered during the first seven
months of the current year. with most
of the profits realized in the month of
July 1t is of interest, perhaps, to point
cut that July compares most faVorably
with the showing made by any OF the
other major transportation systems.
Those familiar with the type Of the
bulk of investors who had placed funds
in the stock of the Bank of United
States may well doubt the ACCESSIBILITY
of the latest move on the part of the
New York State superintendent of
banks. Mr.. Broderick contemplates as
Sessing the stockholders, numbering a.
800. to the extent of the par value of
the shares, or $25 per share. This step
should yield $25,250,o00 and should go
a long way toward making up the de-
ficiency of the collapsed institutions.
No one knows it better than Mr.. Brod-
erick himself that much the largest
number Of stockholders were men Of
decidedly restricted means, and an at
tempt to collect additional funds from
these people will not only prove futile,
but may even tend to aggravate an ex-
listing difficult situation. If. as the SUI
perintendent maintains, the payment of
the assessment will determine further
disbursements to depositors. 1t would
seem that the latter have little to look
forward to.
tcopyrisht. 1891. by the North American
Newspaper Alliance, Inc.)