Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-30

York Harbor in tank car lots at
around 5ia cents a gallon. Gasoline
of the bootleg variety can be bought
at lower rates. At one of the Texas
Gulf ports recently gasoline for expert
Of a very superior grade sold at 29s
(. O. b. Gulf in cargo lots.
II 1t came to a price war between
American and Russian producers the
Russians would have to be prepared
to sell at an enormous loss. Such a
price war Is inconceivable In the minds
of American producers. Conditions
such as England has witnessed through
the deluge of Russian oil could not
exist in this country.
For years at English gasoline sta
tions It was a common sight to see
large notices posted, I'VE do not buy
Russian OIL" This was an attempt to
appeal to the patriotism OF English
motorists.
The Russian oil scare from Detroit
could very easily be a move on the
part of that group in the oil business
that Is advocating a tariff on the I'M
portation Of crude and ref1ned pet
troleum products. This tariff was
beaten by only one vote in the Senate.
Naturally the independent oil pro-
ducers are behind the move Tor q
tariff, but it is not believed the Stand
ard Oil interests care very much one
way or the other.
Would Aid Railroads.
At last investors who have loaned
their money to build and keep up the
railroads are raising their voices in in
dignation over the way our carriers
have been tortured" for decade. In
the last few weeks committees have
been formed by the life insurance COM
panies and the fire underwriters to take
steps to protect the tremendous amount
of capital invested in the railroads.
At q meeting in the Bankers Club
group of trustees met to form COM
mittee to support the committees al,
ready formed. Railroad investors all
over the country are banding together
to bring pressure on the Interstate
Commerce Commission to come to the
rescue of the railroads. The railroads
are still the backbone OF the country
and always will be, in the opinion Of
bankers and engineers. They cannot
be treated as a decadent industry. They
have cut expenses to the bone and are
now cutting dividends.
II increased rates are not given them
Immediately a wage cut will have to
follow, according to opinion in railroad
circles. There are. Of course, two schools
Of thought on the matter of increased
rates. The school in opposition to the
rate increase believes that higher freight
rates will only serve to drive still more
business away from the carriers into
the trucks. In that quarter 1t Is be-
lieved that it will be better to pass leg
islation restricting the carrying of
freight by road.
Anyway the recent burst of buying in
railroad shares was based on the belief
that the Interstate Commerce Commits
sion would allow an increase in rates
next week. The rise in railroad shares
was pleasing to bankers who have been
alarmed at the discouraged selling of
railroad shares. If really important
selling movement started in railroad
shares 1t would be q national calamity.
Latin American Bonds.
The response to the suggestion that
after he has settled the European trou-
bles President Hoover would take steps
to relieve the economic situation In
South American countries was immedi-
ate on the New York Stock Exchange.
Buying orders appeared In long list
of Latin American bonds. The city Of
Monteyideos IS advanced 8 points, RIO