Evening star., 1932-02-17
WASHINGTON OBSERVATIONS

7. No bank closings at all were re-.
ported on Tuesday, February ., wnlcn
was the first day with no closings since
early in 1880. Failures since the first
of the year at the close Of the week
reached 4o2. Total estimated deposit
liabilities tied up in closlngs to date
this year have been $lss,S5o, 900. The
total additional dosings reported last
week affected s2aE50 900 in deposits.
- u
The author Of Prom Corn Field to
Press Gallery" who terminated long
and industrious career as a Washing.
ton newspaper correspondent to take
seat in Congress. the weIl-beloved Louis
Ludlow, now SERVING his second term
as a Democratic representative from the
Indianapolis district of Indiana, may
be in line for new honors, according to
recent reports from his home State. He
may be the Democratic senatorial noml-
nee. This year in Indiana senatorial
nominations will be made in party con-
ventions instead of in primary elections.
There Is quite field of aspirants, but
Ludlow is being strongly boosted. The
nominee will oppose the veteran, Jim
Watson, q formidable antagonist. But
the Democratic tide in Indiana, accord
ing to all visible signs, is running high.
Under the circumstances Senator Wat
son might easily 60 down under an
avalanche Of Democratic votes.
The State Department announces the
dispatch Of DR.. George H. Blakeslee to
Popping, China, WITH credentials OF
special assistant to Nelson T. Johnson,
the American Minister. DR.. Blakeslee
is professor of history and international
relations at Clark University. Worcester,
Mass, and a world-famous authority on
Far Eastern affairs-the product of a
lifetime of historical research and many
visits to the Orient. He served the
Government as technical adviser at
the conference on limitation of arma-
ments in 1922. Last November,
when the Manchurian affair became
acute, he was called to Washington for
advisory work in the State Department s
Division of Far Eastern Affairs. He re-
turned to his professional duties at
Clark University only two weeks ago
and now receives hurry call to sail
for China to advise with Minister john
son and with Gen. Charles r. Mccoy,
our military ambassadorial observer,
who is accompanying the League of Ma
tlOnS Commission.
~ X
A sidelight on the economic side Of
Japan's present war adventure Is con-
tanned in cable news given out without
comment from the New York office of
the Japanese embassy. The Japanese
exports trade during January declined
so per cent, while her imports, due to
enormous purchases of raw cotton. in
creased, resulting in an adverse trade
balance for the month of yen $4,000, 900
cat normal exchange more than twenty
million dollars) Excess outflow" Of
gold and silver during January totaled
yen 100000. Security and COM
modify prices suffered drastic declines
on the japanese exchanges. Though
Japan promptly went of the gold
standard, the Yokohama Specie Bank
made four shipments Of gold totaling
yen 100000 after the gold embargo
lin order to meet purchases Of dollars.
The bank made another gold ship
ment of yen 10000 900 on January g.
Total shipments Of specie since Oc-
tober, 1881, aggregated yen 393,000.-
000-close to two hundred million dol
lars. With 40 cents plus the par OF
exchange for yen, prevailing quotations
are around IS and 36 cents. THE
Shanghai incident" relates the en-
bassy statement, "has brought about q
feeling OF cautiousnesS" in the marts Of
Japanese business and trade.
Copyright. 1922