Evening star., 1932-01-23
Everybody's
Business
Rail President Shows Car
7ers Have Made Com
barat've1y Small Wage
Reductions During De-
Preston.
BY DIR. MAX WINKLER.
Special Dispatch to The Star.

| Special Dispatch to The Star.
NEW YORK, January 23.-The re-
duction in the pay roll is relatively the
smallest reduction made by the railways
during the depression, according to Dan
iel Willard, chairman of the President s
Committee charged with adjusting rail-
way wages.
Mr.. Willard substantiates his remarks
by pointing out that in 1881, as COM
pared with 1929, the reduction in 1t
operating income was So per cent; the
reduction in all purchases so per cent
in total earnings SO per cent, in total
operating expenses % per cent and IN
the pay roll 27 per cent.
He adds that a reduction in compen-
sation of all persons engaged in railway
service is an essential step toward en-
abling the railways to improve their
credit, increase their employment ano
purchases, and thereby contribute to-
ward a general revival of business.
Paramount's Prospects.
Competent observers expect better
days for Paramount as a result OF the
reported entrance into the field Of the
Hertz Wrigley interests of Chicago
Rumors that Adolph Zukor would re-
linquish his present post could not be
confirmed, but it was learned he will
remain with the new group.
The group Is understood to contem-
plate measures expected to result IN
substantial savings, even on the basis OF
last years volume of business. This
it is believed, may find reflection in the
price of Paramount securities.
May Vote Extra.
In view of expected record earnings
of American Tobacco for 1881 1t viii
not be surprising if at the meeting next
wednesday the board votes an extra
dividend. Although shares have ad-
vanced appreciably within recent days
the technical position of the stock may
easily lead to further improvement.
On the theory that reduced cigarette
consumption and prospects OF increased
taxes may exert an unfavorable lnnu'
ence later considerable short selllns
| is understood to have developed.
verv favorable report, together with ar
extra disbursement, may, therefore
lead to immediate covering and higher
quotations.
Outlook for Copper.
The outlook for copper depends u
| a large extent upon the situation II
| Europe. normally a large consumer o
the metal. With conditions aoroac
rather uncertain and with domestic
consumers covered on their require
| ments for the next few months, M
| marked changes in price may os
| looked for. 1,
Europe at best win buy hand u
| mouth and even in the United State!
orders from consumers are expected u
be in small volume. At the same tlmt
there seems no pressure to sell, as pro
ducers and customs smelters are no
| inclined to dispose of their stock II
the face of existing small demand.
Sugar Industry.
The treatment accorded Cuba in at
| tempts to stabilize the sugar industry
| is not especially satisfactory. Although
according to the various plans to whlcf
| the island republic adhered, production
| in 1881 showed a decline OF Al PEE
cent from the preceding year, Cuba
! will be asked to take another cut, O.
! 800. 900 tons In its present crop.
| On the other hand Java, next u
Cuba. the chief exporting sugar coun
| try. reduced her output last year b!
only "A per cent and is firm agalns
| further restriction. She would, how
ever. consider drastically reducing l93'
production.
| Copyright, 1892, by the North American
| Newspaper Alliance, 1nc.)