Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-03-19
ATWOOD PICTURES
NEW BUSINESS ERA
Better Social Conditions to
Temper PiIing Up of Wealth,
Editor Says.
BY EDWARD C. STONE.

of social and governmental conditions
and the solution of the problems that
go with them" according to Albert w.
Atwood of Washington, financial editor
of the Saturday Evening Post. This"
he adds, lis not to underrate the I'M
zortsrlce of economics in the future, as
Abe wealth of this country will continue
% grow. Men will continue to strive Tor
greater wealth, but even more than
that. they will have to learn to live to-
= gether if they are to live at all.
In further explaining his views, Mr..
Atwood said:
II have been making study, an ap-
praiSal of the IL years which Andrew
w. Mellon has just finished in the
that comes from that study and it is
based upon much authoritative infor-
nation, is that the passing of this great
figure marks the end of one expanding
era and the beginning of new recon-
struction period.
II saw Mr.. Mellon sworn in as AM
bassador to Great Britain, and a mo-
ment later Mr.. Mills, his Junior by 80
years, indicted as Secretary of the
Treasury. 1t will not do to stretch too
far the identification of these two men
with different eras, but no one with
the slightest imagination who witnessed
that ceremony could fail to realize that
currents are running deep these days
and changes coming thick and fast
Notes Countrys Present Needs.
What the country needs most at a
time like this, in Mr.. Atwood's opinion,
Is not grandiose schemes, panaceas and
plans, nor even supermen in the field OF
economies, as sanity, poise, security,
steadiness and reasonable order. 1t is
apparent to every one that the discus
sion of unemployment reserves, OF plan
ming by single industries, whole indus
tries and nations, and Of all the other
devices to mitigate the evil effects OF
depression, invariably point to the idea
of security and stability.
That there can be no new economic
order unless we get out of the depres-
sion, is self evident. Mr. Atwood Is
sure, however, that the country is al
ready on the way out although it is a
hard, slow task. What is especially seri-
Gus about this depression, the financial
editor continues, what has made it dan
gerous beyond all others in the past, is
the completely of the modern economic
structure. In certain respects the pan
les or depresSions of 1873, 1857 and
1887, may have been worse, but at least
more people lived on the farm and
could support themselves, no matter
the stock exchanges and in the banks.
To-day we are all tied together in the
financial and credit system and have to
keep it going" Mr.. Atwood. asserts.
Bending, But Not Breaking"
Mr.. Atwood addressed the Ohio IN
derwriters' Association in Cleveland the
other day, on Life Insurance in the
New Social Order" In summary up
al oyiyc he
This depression has developed and
disclosed a great multitude of towards,
but am convinced that we are going
to get through in spite of them, and no
class of men can help more than the
life insurance statesmen. One OF the
first citizens of the country in position
and achievement said in a private con-
versation few weeks ago that If the
people in the main could keep possession
of their homes, their farms and their
tools, they would soon forget the de-
preston.
II recently interviewed a high Gov
eminent official concerning the thought |
back of the Securities Finance Corpora |
ton. The most interesting thing he |
said was that under stress men either |
break or bend, and that this emergency |
measure was an effort to bend before |
the storm rather than to break down |
good many other countries we fortu- |
nately are yielding where necessary, but i
not breaking down or discarding our |
constitutional system.
Il believe we have the elasticity in |
this country to bridge the gap safely |
from the old order to the new. We
have great strength also in many Of
our institutions, far-hung free press, |
and the even more pervading system OF
public schools.
THE spirit of the hoarder is that of
defeatiSm. Rich men and women may
put gold in their safe deposit boxes, but
it will do them no more good than the
priceless crown jewels proved to the
family of the Russian royal family, I'M
less we carry on our essential institu-
tons, of which life insurance is one"
Mr.. Atwood concluded.
National Dairy Reports 1881 Net.
The annual report of the National
Dairy Products Corporation and SUBJ
sidiary companies, which include Chest
nut Farms Dairy and Chevy Chase
Dairy in Washington, for the year ended
December 81, 1881, shows consolidated
net profit of s22, 547.973, after depre-
citation, interest, Federal taxes, SUBJ
sidiary preferred dividends, ETC., equiva-
lent, after National Dairy Products
10
$3.47 share on 6,263, $50 no-par shares
Of common stock outstanding at end of
year. This compares with consolidated
net profit reported in 1890 of SEC, 254,-
326, equal to S4.10 a share on 6,202, lit
common shares.
THE year 1881" says Thomas H.
McInneney, president saw a further
decline in the price level of all dairy
products The reduction in price to
the farmer producers was not in pro-
portion to the extreme reduction In
price of other farm products.
This fact, combined with the ad-
vantages to the farmer of continuous
o15h income. resulted in the greatest
production of milk in the history Of the
country.
In order that it could absorb its
proportionate part in the decreased
sales price, not passing the entire de-
crease on to the farmer producer, your
corporation concentrated its efforts
throughout the year on plant eff
ciencieS and economies, increasing de-
livery load factors and consolidating
operations with gratifying results.
THE list of stockholders" the report
states, ''is now in excess Of 81 900, or
an increase Of about 1880 over the
previous year, and we are pleased 10
observe that the number Of empiOye
stockholders has likewise increased"
Local Bank CIearings Fail ON.
Bank clearings in Washington for the
week ended March is totaled t20. 1885,
600, against the unusually high figures
last week of S29 .5l6,000 and a decrease
of Is per cent from the corresponding
week year ago. Dallas. Tex, was the
only city in the United States 10 re-
port an increase this week, a gain cf
19 per cent. Washington held that
distinction last week.
Engineering Contracts Gain.
NEW YORK, March 10 P).-Heavy
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