Show INSIDE STUFF ON POLITICS FINANCE I Electric Bond awl and Share Stock Plan Is Explained NEW YORK n By James l Ic The wheat crop estimate is not nol such uch a n bullish factor as it might be American merican conditions will be less important important im im- than world conditions in de de- prices A more Important angle is that Russia and the Balkan countries will be out of the wheat export market this year Jear Russia may i even do some importing for domestic uses 0 I 0 The gag which the stock exchange houses arc are pulling on the senates senate's investigators has a double purpose It not only protects the brokers rokers against lawsuits but it may make it possible to confine the investigation in to the bear market period This will vill be quite a relief relic if it can be accomplished Negotiations arc are on foot whereby the he senate committee will turn the conduct of 01 the investigation over to toa a professor from the Wharton School o of Business This would mean a gentle gen gen- tIc tle Ic and un unpublicized publicized end to the excite excite- ment Fire and casualty companies have been burned by playing with common stocks tocks An effort is being made to I restrict estrict their investment policies so I that hat common stocks can represent nothing more than their unimpaired surplus 0 Directors of ot Electric Bond and Share have taken cognizance of uncomplimentary uncomplimentary un tm- un- un complimentary rumors about the em em- stock deal by issuing an explanatory ex- ex statement Stock was offered of of- in 1029 1020 at a price well below the he market and id payments were to be made over a period of ot years The deal was canceled last fall when the market price of oC the stock was well below elow the price at which had lad contracted to buy it The explanation does docs not dispose of the further rumor t th that t some of ot the officers of the company bought stock slack in n the open market to return it when the he deal was canceled Recent pub pub- of a partial list of stockholders ers showed that some of the directors were holding remarkably little stock 9 9 e eThe The city of ot Detroit had plenty plent of trouble rouble getting its loans renewed by New few York banks Some of or the banks refused to cooperate Virtually the only reason renewals were made was because city officials demonstrated a complete incapacity to pay at present Detroit's bonded debt represents 11 per cr cent o of the assessed valuation of its ts property This is about twice vice as ashl hl hIgh h as it should be Even New York shows a 9 per cent ratio Well man aged Milwaukee has a ratio of 01 a trifle over 4 per cen cent l 9 8 The national economy committee Is trying to lay the foundations for fora a national movement The petition recently offered in Washington ton is meant as a platform The next effort will vill be to find a political leader o of at national prominence to take over the headship of the movement Representatives of ot the committee report that the veterans' veterans have a Washington lobby comparable corn com com I parable in strength and power with Wayne Wheelers Wheeler's old prohibition lobby Crisp of Georgia is given credit for killing the bonus He is an m expert exper parliamentarian and so arranged matters mat mat- that the bill could not get to the floor of the house under the rules o of procedure |