Evening star., 1931-12-09
Everybody's
Business
Prss,dert Heovsrs Recon-
msndat,;ons to Congress
D<c1ared Constructive.
Promft Action ~ L<s,is-
1story H<1d Necessary.
BY DR.. MAX WINKIER.

DAs fNhA WkNAAkEnS
Special Dispatch to The Star.
NEW YORK, December e.-President
Hoover in his message to Congress, re-
CARDS credit paralysis, the plight OF the
railroads and the foreign complications
as the worst obstacles to economic re-
covery
The President proposes to deal with,
the first two by means Of reconstruc-
tion finance corporation, which viii
make extensions to railroads, industries,
financial institutions and agriculture
It will, in addition. facilitate American
export trade. e@
This recommendation Is sound
Whether 1t wtll be adopted in time to
be OF real service remains to be seen
Moreover. the administration may dis
cover that even such a corporation
However, there is much in the Presi-
dents address which should make for 4
restoration of confidence, so essential to
any revival OF business. 1t Is also graft
flying to note that Washington has
diagnosed the country's economic all
ments fairly correctly. and If 1t is true
that q correct diagnosis is half the cure,
there is some ground for optimism.
The effect OF the message upon the
market was not especially satisfactory,
Suspehsion of an old and highly
thought of stock exchange Arm, and the
omission Of q few dividends, including
the one on New Haven, may have had
something to do with yesterdays recess
sion in the market
Meanwhile Basic Is being watched
by the world Of business and finance
Here economists and statesmen are as
sembled for the purpose of studying
Germany's economic position, with q
view to determining her ability TO meet
debt payments. An amicable adjust.
ment could very easily mark the be-
ginning Of q new era. There is enough
let this opportunity 60 hy. According
Wiggtn, the international bankers rep.
resenting Germany's private creditor'
have reached an agreement.
I. c. c. Rate Decision.
About $100, 900 900 is expected to b
added to the annual earnings OF The
United States carriers as result Of
the decision by the Interstate Com.
merce Commission permitting the road.
to increase rates on q number Of items
Although the increase may constitute
some burden on shippers and conse-
quently on the business Of the coun-
try, 1t Is a step in the right direction
Additional aid to the roads is ex.
pected to come IN the form OF reduc'
tion of costs. To this end the Co
operation Of railway labor is needed
Should 1t be found necessary to ex
tend further assistance to the carriers
recourse In all probability viii b,
taken to the new finance corporation
which President Hoover proposed In hi
message
Sterling Sales Rumors.
It II diffieult to she}ieve Tumors II
the effect that the French are heayl
sellers of sterling. The Bank Of Francs
IS understood to hold balances in Eng
hand AggregAting f62, SOC. 900.
At the current price OF the pound thu
more than $loo 900, 900. A further de
considerably. As the loss incurre,
threatened to embarrass the bank, tn,
government has consented to make
loan equal to the amount of the -losse
sustained. A rise of several hundre,
francs in the shares Of the Bank o
France was the response to the gov
efnnent's action.
Company Report Is Good.
A decided turn in November saies b.
Canada Dry sGinger Ale, Inc, Is re
ported by P. d. Saylor, the president
Figures for last month are not onl
ahead OF October sales, but also slightl.
exceed last November, Mr.. Saylor con
tinues. This applies to sales Of Canad'
Dry as well as to each Of the com
y1uAs fhyao c,tHsiNfor
Earnings may be regarded as satisfac
tory. For the year ending Septembe
30 net profit equaled 50 33 q shate, a.
compared with . current annual divi
dend of 81. The financial positioi
continues strong, with ratio Of cur
rent assets to current liabilities Of bet
ter than six to one, AS compared witt
four to one year ago.
Many KecalIea 10 Work.
Orders for more than $4,000 units O
the new Buick were received last month
according to C. w. Churchill, genera
sales manager OF the Buick Motor GO
| This figure represents q new record TO
any corresponding November period. A
November Is usually one OF the lov
points in the automobile year, the 'ahov
/! figures appear especially gratifying. :
Equally encouraging news comes from
| another member Of the General Motor
lfani2y. As result Of production gains
| following start Of work on the ney
Chesrolet cars more than 50, ZOO per
/ sons are back at work at the variou
Chevrolet plants, Including besides fac
| tory forces, 20 900 men employed by tn
| Yssher Body Corporation. working ex
/ ch,styely on Cheyrole4 bodies.
A Bull on CAnada.
sir Charles Gordon. president of tn
fBank Of Montreal, Is confirmed bul
| "a Canadn. He Il convinced that tn
| fDoninion wdn emerge from the presen
ldep<easion stronger and more prosper
os,S than ever.
Addtttonai reason for confidence lie
Fin the fact that accumulated resource
! are indefinitely greater than at an
like period IN the past, Sir Charles con
ltinucs. He also calls attention 70 tn
ur,developed wealth Of Canada which
| now beyond any doubt known to exis
| to an extent far surprising the mos
| extravagant Of the estimates made u
/ earlier days.
Mexican Conditioas.
One hears very little these days frou
Mexico. Peace and tranquility vhicl
have reigned tn the Southern republi
for many years are apparently taken fol
sranted, but, as In other countries, eco
noznic conditions are depressed. } tn
| cos1utry,s principal lines, the Nasiona
Railways 0 Mexico, have had diracul
ties In making ends meet. However, tn,
outlook now appears much brighter. 4
policy of rigid economy Is expected b
result In annual ssvinss OF about as,
000. 900 pesos.
Measures taken by the railways in
clude STAN rsduetion, abolition OF un
necessary departments, consolidation o
overlapping Offices. and restriction o
works demanding overtime services
Most of the roads securities, IN com
plete default FOR many years, are helt
abroad, with the nnaters por1on o1nel
by American interests.