The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-29

pound and other deprecated curTen-
cies in prospect Of large payments to
the United States on war debt &C
count. AS gold moved to this country
foreign currencies were deprived OF
some gold support, prices In their
countries dropped, and those OF our
prices dependent upon their markets
responded.
TRADE AND WAR DEBTS
Yet, it does seem as if almost every
single tough problem would be behind
us if only a solution for the war
debts tangle can be found. When
this is effected, international traders
will take heart, business activity Will
return, and national deficits disap-
pear. To reorganize individual con-
Germs while this Is taking place ma
tionally and internationally Is likely
to be the main task Of the new year
The course of employment was
downward through most of 1882, with
a slight improvement in early fall.
The same description answers for IN
dustrial production. The years close
completed a four-year decline In for
eign trade, at the end of which ex-
ports were running about one-third
of 1928. Yet gold production. United
States and foreign, was rising, q har-
binger Of better times.
Let us look at some Of the indus
tries. Electric power production had
been the last to yield to depression.
but by spring it was rapidly declining.
reaching q low point In July. Steel
production was irregularly downward
all year, closing in miserable ton
nages. Auto production was brisk IN
early summer, then headed for ex-
tremely low levels in fall, suddenly
rising at the year-end.
The coal industry was the first to
pass last years records-for coal the
corner seems to have turned. Rail-
road freight car loadings were irregu-
larry lower most Of the year, with q
rally at the close. The building In
dustry had the --LATEST year In living
memory.
KREUGER AND INSULT
The business men Of whose affairs
the ocean cables licked off the most
words in 1882 were War Kreuger and
Samuel insult. It was March 10 that
insult announced he would give all his
time to Midwest Utilities. Two days
later Kreuger shot himself in Paris.
Presently the most amazing complica-
lions were being disclosed In the at
fairs Of both. insult now Is q fugi-
tive from justice.
There were fewer mergers In 1882,
but more financial reorgauizations
and receiverships. Sinclair merged
Prairie and Sinclair to form Console
dated Oil and later bought Richfield.
Studebaker merged White Trucks.
Hoe g. Co. (printing presses). F. q w.
Grand-Silver (stores), Chicago Rapid
Transit, National Bellas-EIess (mail
order), marlborough Rapid Transit
(New York subways) and United
Cigars went into court hands.
National Steel led its industry In
earnings. Corrigan Mckinney ana
Newton Steel affiliated. Atlas Utili-
ties continued its spectacular rise q
: an investment trust. J. p. Morgan &
Co. and 10 other banking houses
formed a company to buy bonds on
the market. Hotel reorganization be-
came q large business. Florida land
holders continued their long struggle.
The radio Group" was dissolved by
consent decree.
RAILS AND AUTOS
Nickel Plate struggled for months to
escape receivership. st. Louis-San
Francisco was saved ct the last min
ute by the r. +. @. The Pennsylvania
borrowed heavily to electrify. Five
companies Of the Cities Service group