Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Everybody's
Business
Victory of Bruen;ns Relieves
Tension Over Possible
Political COMPLICATIONS IN
Germany-Lsadins Is
sues Advance.
BY DIR. MAX WISKLER.

Special Dispatch to The Star.
NEW YORK. October 1.-THE ten
sion over possible political complica-
tions in Germany has been relieved
through the victory Of the Bruening
government by what may be regarded
as satisfactory majority, by the de-
feat Of the Nationalist motion to ad-
journ the Reichstag and by the defeat
of a Communist motion OF miscon-
f1dence against the ministry OF agri-
culture.
Chancellor Bruening has declared
himself definitely in favor of con-
tinuing payments on German COM
mercial debts and the maintenance Of
the stability of the currency. The dis
astrous effects of currency imitation are
too we'll known and too vividly re-
membered to make possible the intro
duction of measures which might once
more lead to the deterioration OF the
nations monetary system.
Events in Germany were favorably
received in Wall Street and found
adequate reflection in a marked ad-
vance in the price Of leading issues.
Sentiment was greatly helped by belief
that constructive steps are about to be
taken in the near future in regard to
the domestic situation.
Prosperity Is Expected.
More prosperous conditions in the
United States are confidently expected
as a result of the operations Of the
recently formed National Credit Cor
poration. It is hoped and expected
that it will restore confidence SUI
ficiently to induce the tirlid public TO
cease boarding and intrust their funds
to banking institutions.
One of the reasons for the abnormal
o. ha
cut of circulation and estimated any
where from three-quarters OF billion
to a billion dollars was the very low
rate which money on deposit was earn
ing. The advance in the rediscount
ate should change this situation and
should also bring to halt Withdrawals
for foreign account. which also may be
assumed to have been prompted to
large extent by the more satisfactory
money rates prevailing in European
centers.
The marking up of interest rates is
expected to affect favorably the earn
ings of banking institutions, although a
part Of the increased earnings probably
will be employed toward paying higher
rate on deposits.
better feeling seems to prevail in
regard to the status of railway securi-
ties A plan for assisting the carriers
ic expected to be made public by Wash
ington Immediately after the Interstate
Commerce Commission has handed
down its decision on the application of
the railroads for a Is per cent rate in
crease. This need not necessarily imply
an adverse decision.
However, If only part of the increase
applied for should be granted, a favor
able statement by the administration.
all h.
nouncement, should have a salutary eff
feet upon railway securities. Impressive
buying of so-called second-grade rail-
way bonds is definitely understood to
be going on.
Sales Holding Up.
Despite the severity Of the depression,
the volume Of sales of Proctor &, Gam
Bile has been holding up very we'll, ac-
cording TO Col William Cooper Proctor,
chairman of the board.
AS to business in general. Col. Proc
ter IS rather optimistic. He thinks that
it is ready to turn and that it will
turn, If we can get over the depressing
fear. He odds that orders Of his COM
pany for the September quarter are off
only about per cent. as compared with
the corresponding period in 1890, but
are per cent ahead Of the same period
in 1929.
With security prices less than one
quarter of what they were two years
ago. the liquidation must soon run its
course; according to George Putnam,
president Of Incorporated Investors. an
investment trust Of the general manage
ment type
Mr.. Putnam is of the opinion that
business in the United States is not
nearly so bad as some people would
have US believe. but that 1t most GER
tainly lacks any vestige CT the snap that
could make 1t be called good He adds
that the distressed sale of securities by