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THE FINANCIAL OUTLOOK
BY CHARLES F. SPEARE, Special Correspondent The Chattanooga Times. Copyright. 1931.
NEW Jan. was comsaying in the latter part of 1930 that until occurred that would turn the mind of the public from the commodities fix specific program of there could hope of revival in busior in stocks. An event of the desired nature has place this the announced agreement of the four railroad systems to effect consolidation that be the public and mit them out campaign of that the have the means or are in the No inspiring than this fact evidence of in Washing ton and in Street in promoting the field of transportation that to look and not backward.
Four Lines Make Concessions.
The proposal for division of the trunk territory has approval President the result concessions bewteen four the the counencouraged their bankers and majority their stockholders. accord with the spirit the transportation act passed congress 1920 has been, in advocated by the interstate commission. It promises improve railroad service in the covered the There every prospect quicken the business. Those pose nothing offer that will equal betterment of conditions which the entire country suffering. the eastern are denied the right merge, will be because which years favored solidations the public now rejects the idea, through unwillingness of majority the intercommission stand by previous declarations in behalf of unification systems east the Mississippi north of the Mason and Dixon
Effect On Labor Anticipated. obvious that benefits consolidation carriers must come largely from curtailment duplicate service. labor. Probably cent. the economics in the The that posed the northwest southwest recent years have had travel has natural opposition from those who saw them the positions points, shops, offices and as members train The new threat still greater unemthe total month been anticito avoid displacements reallocation of personnel while consolidation plans being carried Neither President the have most active bringing about the had in favor maximum for labor given. troleum trade is highly essential to general prosperity stocks decline market also assume that indications greater friendliness Washington towards the railroads will modify the attitude congress and utilities, whose on the York Stock Exchange last twelve months depreciated 50 per cent., or about
Co-ordination in Banking. In the banking world there are signs strong leadership epidemic bank suspensions broke out This has been absence bond liquidation, followed vigorous recovery in grades certain of rise their made the fedEuropean probable this year efforts adjust the present distribution and in London feel that on this the leading the may high in finanevents. word comes from meeting perts the Bank of France and Bank may be said that, effort will integrating present badly disorganized business and finance The situation has not unlike that France Foch was given com-
Effect of Tax Selling Shown. The for both stocks bonds of the year based favorable change in change technical conditions. there were doubt to the effect of tax selling have been during the past hours. in their investment status, rebounded when freed from the liquidation, whose purpose was to reduce income tax Certainly object lesson has been given way damage tax future afford overlook. of the capital gains tax abetted the added that wiped out billions dollars market values 1930.
Bank Suspensions.
WASHINGTON: Jan. The Washington State bank today pended for five days following meeting the last night. Officials said it expected the bank could reopened within the five-day period. Nelson is president. The bank has capital, undivided profits of approximately
Trade Stability Furthered.
There indications that the early will be for efforts together interests flict policies production and distribution have contributed the depression business and securities for the past months. Some progress direction already made in copper trade This evidenced copper 1930 movement has sulted this past smallest output of crude oil since summer 1926. As one the industries whose securities widely held, an improvement in the
RICHMOND 3 banking telegram Bank Jarratt. Sussex county, failed to open today.
Dry Goods.
NEW and Sheetings drills fabrics lead large direct selling organi-
