Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-21
BY DIR. MAX WINKLER.


NEW YORK, october 21.-Although
denying the request of the United
States carriers for a fiat Is per
cent increase in freight rates, the In
terstate Commerce Commission sug-
gested that the roads might apply for
specific increases on designated COM
modities for a limited period. This
decision if accepted by the roads is
expected to result in a gain in revenue
estimated from 500, o00, 900 to $685.
900 900.
The suggestion, however, is condi-
toned upon the submission and APP
prevail of arrangements between the
carriers for the pooling of revenues
accrulng from the proposed increase in
order to enable the weaker systems to
meet their fixed interest payments as
they mature
Inasmuch as the stronger roads will
derive little, If any, benefit from what
ever increase might be effected as a
result of the pooling agreement. it is
doubtful whether the carriers will view
the commissions decision with a great
deal of favor.
MKT Has Good Business.
The Missouri-Kansas-T Texas lines are
enjoying most encouraging cotton
movement, in spite of the fact that the
crop is late and loadings are off as
compared with this time last year. &C
cording to NJ. H. Cahill, chairman of
the board. Although wheat is still
being held in the roads territory in
large volume, indications are that it
will move in more or less steady
CT ~ -
the year.
Mr. Cahill also calls attention to the
fact that railroads in the Southwest
are suffering not only from the depres-
sion but from continued heavy inroads
on thelr traffic by trucks. This is eSpe-
ciallv true in Texas. where trucks are
hauling large amount of cotton to
port cities.
However, Mr.. Cahill believes that the
recently enacted law limiting the weight
OF trucks should automatically end the
cotton hauling business.
British Bank Sees Hope.
The Midland Bank. one of Great
Britain's big FIVE" financial institu-
tons. expresses the belief that the
country's departure from the gold
standard may well represent the turn
ing point from world slump to world
recovery. because it intensifes the OBJ
vious and urgent necessity for interna-
tional collaboration to restore order and
efhciency in Great Britain's monetary
affairs.
The bank views the country'S posi-
ton with calm and confidence, al
though not with warm optimism. It
warns the public against becoming I'M
duly alarmed, and concludes its OBJ
servaticns by asserting that the worst
is probably past and that the best is
yet to be.
In order to enable the Canadian gov
eminent and the various political sub
divisions, as well as private corpora
lions which have contracted obligations
in the United States, payable in gold to
discharge their debts, an order in coun-
Gil has just been passed prohibiting the
expectation of gold from Canada ex-
cept by license issued by the ministry
of finance
The order should also tend to stop
attempts at profiteering by Canadians
VINO. according to Canadian observers,
think more of profits than patriotism
With American capital in Canada
placed at about $4,000 ,o00, 900, and with
the requirements on this amount quite
substantial, Canada's move did not
come as complete surprise.
Return Is Expected.
1t Is certain that Great Britain will
go back to the gold standard in the not
distant future, though it may likely be
on lower basis than the old parity of
S486 to the pound, according to Sir
Alexander Lawrence, chief assistant So
llcltor to the British treasury from 1915
to 1925
Sir Alexander feels that while the
abandonment of the gold standard must
have an unfavorable effect upon Brit
lSh and other international trade be-
cause of the uncertainty which cur
rency fluctuations produce. the fall in
value ought to stimulate home produc-
ton in Great Britain by raising the
cost of imports.
1t is of interest to learn that Sir
Alexander is of the opinion that the
crisis in Great Britain is only 5 per
cent British crisis and IS per cent the
worlds crisis.
improvement in copper shares is
probably discounting constructive. de-
velopment which may be decided upon
IN the course of the conference sched-
| uled to convene today. The principal
producers are expected to participate,
and 1t is intimated that the American
group favorS curtailment plan Suffi-
clently drastic to result in a steady re-
duction in the supply of stocks.
1t is hoped and expected that the
present meeting will be more success
ful than the one held last June or the
one OF November, 1880. The former ac-
complished practically nothing, which
| accounted for the decline in the price
OF the metal to Z cents, the lowest in
history. The November meeting re-
| suited In .r15 per cent curtailment
program, which did not, however, prove
adequate.
Copyright, 1872
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