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Show S rN , .L L . rNHEARD Ana .LAna Ana.LD O.AIUL OAIUL . ' HBA'KD HBAKD O.AIULHBA'KD HBA'KDJL HEARD HEARDar&tnd JL JLJR fM ' JS.JE JSJE & . ' . JLjy .LD LD .LDar6 , ar&tnd artnd . - - & - L " \ ar6 ar6ndhe nd\he nd he "the the NATIONAL NTION ndheNTION NATIONALCAPITAL / AL ALCal " - NATIONALCAPITALPy CAPITAL Cal . 51r IL ! TAL TALCarter CAPITALfY TALb fY b Py Carter Field Fielde FieldWashingtonLatin FieldA FieldAWashlnston e . WasblngtonLatin Washington-Latin Washington Latin Washlnston Wasblngton -Latin Latin - Latin Amelica America Arnei lea seems seemsto seemsto seemsto to be following ro1lowlng the example exnmple of the ad administration administration administration ministration ministrationUh \ with \\Uh Uh respect to lUHtlespnrtlcularly ntilltlesparticularly ! utilities lUHtles ntilltles utilitiesparticularly particularly -pnrtlcularly pnrtlcularly -particularly - utilities 0 owned " ned by the thesame thesame tliosame same geneial genelal general Interests In the United UnitedSt'ltes UnitedStates UnitedStiles St'ltes Stltes States ' so s , vigorously igorously Igorousl ) ' attacked 'lttached lttached by Presl Presldent Presldent President dent Roosevelt Uoosevelt . . Me Mexico's Mexicos Me'ico's Meicos ' lco's lcos ' president has called tor for torgo forgovernment forgovernment go government , ernment ownership 0nershlp ossnership 0\ 0 ' \ nershlp of ot telephone telephonetelegraph , telegraph and railroad rallroad llnes-the llnes the lines-the lines lines - the last lastnn lastan lastan nn an extn extr'l extrl extri ' added feature , not on the New NewDeal NewDeal NewDeal Deal agenda Chile Is making mahing trouble troublefor troublefor troublefor for American and Foreign Porelgn Potter Poner Power , hnv haw hnvIng hawing havIng Ing caught it trying to smuggle smugle ; funds fundsout fundsout fundsout out of ot Chile ClIne back to American AmcrIcnn Invest Invest- Investors investors Investors - ors And < ; so 0 It goes all aU the way down downthe downthe downthe the line from the tbe Rio Grande to Cape CapeHOln CapeHorn CapeHoin HOln Horn , , \ with lth just i 'I ' few exceptions , nota nota- notably nota- nota notably notably - - bly nr'lZilSenators BrizilSenators Bnzll nr'lZil nrlZil Brizil BnzllSenators ' Senators just back bach from Cuba report reportthat reportthat reportthat that not only Is there little llttle llkelihood likelihood llkelihoodthat likelihoodthat likelihoodthat that the Cubins Cub'lns Cublns Cubans ' , will ,1l1 1l1 sill be able for some sometime sometime sometime time to come to pay Interest on the big bigbond bigbond bigbond bond Issues Issue floited flo'lted flolted floated ' for public pubHc impro Impron Improvements , e ements emeats ments meats but there Is little disposition to topay topay topay pay Prh Privately Prhately ately these senators thlnh think thlnhthis thinkthis thinkthis this particular Investment Im'estment Imestment ' has just been beenwIped beenwiped beenwiped wIped out , as far as American bond bondholders bondholders bondholders holders are nre concernedTons concernedTons concerned concernedTons Tons of literature llterature containing contninlng the at attachs attacks attacks tachs tacks made on American holding com companles componies cornpanics panles ponies In the utility utllJty fight have been beenclrcul'lted beencirculated beencirculited clrcul'lted clrcullted circulated ' through Latin LntIn America merlc'l merlcl ' It ItIs ItIs Itis Is blamed by some students of the situ situaU situation situatlon aU ation on for Stirling stlrring up the present moe mole molewent mo\ mo moment movement \ e ment went Central and nnd South American ot of otficlals officials officlals ficlals ficials figure tint th'lt thlt that ' It gh gives ghes es them n asplen asplendid asplendid splen splendId dId excuse etxuse e cuse for stepping in , nahonallz nattonaliz nahonallzing nattonalizing nationallzing ing the utilities utll1t1es , and keeping heepmg the prof profItsIt profitsif profits Its-It Its It its-if if - it any-In any In any - In their own companies In Instead instead instead stead of sending dh dividends dlvidends Idends back to the theUntted theUnited theUnited Untted United StatesLatIn StatesLatin States StatesLatin Latin American AmerIcnn officials are quoting quotingglIbly quotingglibly quotingglibly glIbly from trom the attacks attachs sponsored by bythe bythe bythe the administration , demanding emllndmg why whytheir whytheir whytheir their people should be taxed tared ta .ed ed : < . to piy p'lY plY pay ' dlv div dlvIdends divIdends dividends Idends on watered stock stoch , an and to P'lY PlY pay P'lYservice payservice piyservice ' service charges cb'lrges cblrges ' by holding companies companiesout companiesout companiesout out of ot all nIl proportion to the service ren ran randeredr rendered rendered dered deredr ' deredrCoercion Coercion Not ExpectedThey Expected ExpectedThey Tbe They ) ' feel confi confident ent thit th'lt thlt that ' no strong strongarm strongarm strongarm arm methods ss , will ,1l1 1l1 ill be used to coerce coercethem coercethem coercethem them , or to protect these American in interests interests intercsts terests if the plants are tikcn t'lhen tlhen taken ' over by bytbe bythe bythe tbe the goveinmcnt govClnment government Further Purther rurther , thev they the ) feel feelthat feelthat feelthat that the tbe nOose\ nOose Roosevelt nOoseeU Rooseselt \ eU administration will willnot \ willnot Jll Jllnot not be harsh about It If It the 'alues alues 'aluesfired . ' valuesfixed alues aluesfied fi\ed fi ed fired \ : in the condemnation condemnntlon proceedIngs proceedingsare are very low indeed In fact . , they theythink theythink theythink think It would be rather difficult for forSecretary forSecretary forSecretary Secretary of Stite St'lte Stlte State ' Cordell Hull to toframe toframe toframe frame a strong 'lrgumentagainst ' irgument 'lrgument lrgument argument - against -against valu valu- vain valuntIons valuations - . ations ntIons so 10th'It low 10\\ 10 \ tint th'It thIt that ' the American In Investors investors Investors vestors would think thlnl they were being beingmurdered beingmurdered beingmurdered beingmurderedBut murdered murderednut murderedBut But nut that Isn't Isnt ' all the gloom from the the1nvestor theInvestors theInvestors 1nvestor Investors s stindpoint st'lndpolnt stlndpolnt standpoint ' Plans fairly fnlrly un under under under der way In some of the Latin LaUn coun coon countries coontries conntries tries contemplate mal making lng pa payment ' ment for forsuch forsuch forsuch such utility utll1ty plants as ns may be t'lb.en tlb.en tlben taken takenoser tokenovpr ' . O'f'r Ofr oser ' ' by governments In bonds , Issued Issuedof Issuedof of course by the gOVel goveinment government nment , , federal federalor or local , which takes tahes the plant over . No stockholder stochholder in any of the tbe big bigAmerIc'ln bigAmerlcan bigAmericin AmerIc'ln AmerIcln Amerlcan ' companies \ with Ith 1m lnsestments lnsestmentsabroad investmentsabroad estmcnts estmcntsnbroad nbroad abroad would throw thro\\ thro throhis \ his hat In the air airover airover airover over the tlJC Idea of taking tab.lng tablng . pa payment ) ment for foranything foranything foranything anything In bonds of the foreign forelbn coun country country country try concerned Market larket ijarket for any such suchbonds suchbonds suchbonds bonds Is at a n very low ebb . , "lthout lthout without "lthoutmuch withoutmuch " withoutmuch much prospect of Improving Amerlc'ln Amerlcln American Amerlc'ln1nvestors Americaninvestors AmerlcinInvestors ' 1nvestors investors have taken tahen such a beating on onforeign onforeign onforeign foreign bonds In the last few yeals yeats yealsthnt yeatsthat yeaisthat thnt that they do not hanker hanher for any moreAll moreAll more moreAll All of which presents a n very gloomy gloomypicture gloomypicture gloomypicture picture Indeed to a gOO good many Amerl Amenl Amerlcan Amenlcan American can shareholdeis sbareholdels shareholders And bondholders bondholdersIt It is a n repeicusslon repetcusslon repel cusslon of the admlnls adminis admlnlstratlon's administration's administratlon's administratlons tratlon's tratlons tration's trations ' pollcv pOnC policy ) , , whichas which \ was \\as as not fore foreseen foreseen foreseen seen by anyone anonc ) . . It Is made possible possiblenot possiblenot possiblenot not only by the domestic policy polley Inside Insidethe insidethe Insidethe the United StatesJth States \ with \\Jth Jth respect to utIll utili utIllties utilities utillties ties , but to the strong stand taken tahen by bythe bythe bythe the ndrnlnlstntlon IldmlnJstt'lUon IldmlnJsttlUon adminlsttitlon ' in denouncing "dol dol "dollar "dollar "dollar dollar " lar diplomacy dlplomac ) , , " and making mahing It pC petfect petfectly pcifectly ! felt feltly ly cleir cle'lr clelr clear ' tint tilt th 1t 111 ill tieatmeut tleatment of or Amellc'ln Amellcln American Americaninsestors Amellc'lnim Americininvestors ' im insestors estors Is not necessarily necessarIl a m'ltler mltler matter m'ltlerI matterthat mitlcrthat ' I that might lead to warslrlpsBut \ warships arships warslrlps warshipsBut arshipsBut But there Is another compllcntlon complication compllcntlonGrat complicationGrcat complicationGreat Grat Grcat ( , Britain has a It good miny m'lny mlny many ' slmihr similar slmihr1m similarInsestarents simllirInvestments Insestarents 1m estments She has rallroids rnllro'lds rnllrolds ' In InMedco inMexico inMexico Medco Mexico , \ which hich may muy be taken talen { over An And Andwheneser Andwhenever "bene bene wheneser " , er the present trouble bet\\ bet beteen betsseen betsseenItaly betweenItaly \ een eenItaly Italy and Lthlopli Mhlopl'l Mhlopll Lthiopla ' is over Britain m'lY mlY miy m'lYbe miybe miybe ' be much more interested Intereted ' ) 1n in ( n n what ssliat llfit hap happens happens nappens pens to her 1m Investors estors than the Amerl Amenl Amerlcan Amenlcan American can government overnD1ent Is In ItsWhich ItsWhich Its ItsWhich Which would bring the old MODI , Momoedoctrine Monroe Monroedoctrine oe oedoctrine doctrine up for another dusting oftTextile off of oft offTextile ( Textile Troubles TroublesA A net nct loss of $438 438 $43800292 43800292 $43S06292 43S06292 $ OG2 02 despite the thel'lrgest thelargest theIirgest l'lrgest llrgest largest ' sales In the compiny's compinys comp'lny's complnys company's companys ' ' hlstor history historynearly , . nearly $29000000 29000000 $ - > 20000 000 while taxes tapes tn es amount I1mO\lnt- I1mO lnt amount- amountinJ I1mOlntInJ amounting \ - ing InJ to $1 1 $1874,76502 187476502 $ 874,7Gi 8747Gi S74,7Ga S747Ga , , : G2 62 w \ were ere pild p'lId plId paid ' , Is nl al nlleged alleged alieged leged to be t typical ) plcal of ot the cntl entile entice ! e te\.t1Ie te.t1Ie te .t1Ie t1Ie tes.tile testile te.t1IeIndustry tes.tileindustry textileindustry \ . Industry 1 ' ' Ihls 'ibis ibis his Is the report of the thePcpperell thePepperell thePcpperell Pcpperell Pepperell Manufacturing compin comp'IJ1J compIJ1J company compinwith ' , with hea headquarters quarters at nt Biddeford llIddeford . , Maine Maineregirded , reg'lrded reglrded regarded ' as ns one of the most su successful successfultextile successfultextile cps < ; ful fulte'Ctlle te'Ctlle teCtlle textile ' concerns In all New Cn EnglandThese England EnglandThese land landTh Th These ese opera operating operatin tI nb , 1 icsults tesults esu Its , Treas\IJ Treas IJ Treasurer TreasurerRussell TreasuierRussell \ ar arRussell Russell n H Lcomrd Leon'lrd Leonlrd Leonard ' said nrelit are nre lit "typical typical "tvplcilof tvplcilof "typicalof " ) pl < ' 'll ll 'llot ' ot of the Industry as a whole for thesame the thesnme thesame snme same peilod pellod period ' ( liscal hscal fiscal year ended JUlie June30 30 hst list ) ) , and moved m6ved m ved him to ask ash the thestocl thestockholders thestockholders stocl stockholders holdcrs ' ' . wherein wherdn whercln He lie the reasons reasonsfor reasonsfor reasonsfor for an ess essential ntlal Industry rcrn"llnlng rcrnllnlng remaining rcrn"llnlngprofitless remainingprofitless rcmilningprofitless " profitless under a n governmental g'overnmentnl governmentnl ' pbn plan pbnpresumably planpresumably phnpresumably presumably dedicated to its rehablllt'l rehabllltl rehabilita rehablllt'ltIon rehabilitatlon rehabllltitlon ' tIon tlon ? ' 0\ 0 Os Overproduction erlroductIon 0erlroductIon erproduction \ ) , Mr J Leonard onard saId saidwas , was the tbe major mJJor difficulty dlflculty of the thc cotton cottontc.tlle cottonte'ttiie cottontextile tc\.tlle tc.tlle tc .tlle tlle te'ttiie tettiie \ . ' Industry and the primary prlmllry cause causeof causeof 01 of ' Its llsse losses ) He said that consumpAli consump Ali . . tlon tion of ot cotton textiles text1es ] has not been tar far tarbelow farbelow farbelow below normal ' Ihl Ihls Ibis economic principle wa was . , In Intact infact Infact tact fact , at \ work orl in our Industry for some someyears someyears someyears years " \ Mr l\Ir l Ir Leonard s report contln contin contlnued continned continued ued ned 'But But 'nut nut ' But the Natlonil Nation'll Nationll Nationil ' Recovery act actupset actupset actupset upset the working worldng of ot this prlncJple principle prlncJpleand principleand principleand and facilltateindeed facilitated-indeed facilitated indeed facilitated facilltate -indeed indeed - Indeed encouraged encourned- encourned encourabed- encourabed encourabedincreased encournedIncreased encouragedincreased " , - increased production Paradoxcay Paradoxically Paradoxicallyshortening ! ] , shortening the weekly weeUy 1 tunnin tunnln unnlnb , time tlmc to to40 40 hours bours expinded e"tp'lndet1 etplndet1 eepantled " ' tho the output . Dec'1use Dec1use Because Dec'1usethe Becausethe Beciusethe ' the 0 os overheid ' erhe\d erhe d erhead ' \ costs of a n mill on one oneshift oneshift oneshift shift of ot only 40 hours weekly weehly operation operationbec operationbecame operationbecame bec became me Incre'lsln Increlsln Increislngly increasingly ' ly buidcnsome buulensome burdensome , mllls mills mlllsrunning millsrunning millsrunning running one shift per week were forced forcedto forcedto forcedto to Increase to two h0 h\ h \ 0 shifts shUts in order to tocompete tocompete tocompete compete with mills mlUs already alrendy on a t\\ t t0 two tshift twoshift twoshift \ 0 shift basis " A single smgle shift of 50 hourslIr hours , ? Mr I con eon conI1rd eonand conard I1rd and contended , could supply all 1111 the theconsumptive theconsumptive consumptive needs of ot the country . This ThJs statement stntement Is hlfehly hIfhly highly , Interc interesting interestingin < ; tIng tIngIn In view of the fact tact tliat that the American AmericanPederatlon Americanrederation AmericanFederation Pederatlon rederation of ot Labor is even now pre- pre preparing pre preparing - . paring to do battle in the next fesslon session fesslonot sessionof , sessionof ot of con congress ress for a 30 hour week weeh law , n a nfight afight afight fight ' " which hlch It abandoned abmdoned . : in the last lastsession lastsession lastsession session beciuse bec'lusc beclusc because ' the Federation rederation for Its Itsown itsown Itsown own reasons was much more Interest Interested interestell interestcd ed ell In concentrating on the Wagner La Labor Labor Labor bor Relations nelatlons Relatlons act nct actGreat . . Great Handicap HandicapMr ? Mr lIr Leonard also pild p'lld plld paid ' his respects respectsto to the Ule AAA and nnd processing taxes ta"tes tates " ' The nnrkct nl'lrhet nllrhet market ' prices of ot cotton goods goodsduring goodsduring goodsduring during the year , were 'ere ere ' so low , " he said said"that saidthat , "that that " It wis W'lS WlS ' not possible to pass all allthese allthese allthese these |