Show ECONOMIC highlights at this writing president roosevelt was vas on oil his way home from rom the inter american peace conference at buenos aires where he made a speech the first day ile he was preceded south by an imposing american delegation headed by secretary of state hull implacable fighter for better commercial anti and diplomatic tic relations beleen countries there has been considerable discussion concerning the value or the utility of the conference some polut point out with truth that there la Is no danger of a war arising in coith or south america that europe and the east are the danger spots however it is the presidents President 3 belief which is shared by many that if the nations of the western hemisphere show europe that it a roundtable round table discus discussion lou of issus call an lead to amicable settlements oid bud agreements som Tro ro gress gregs to vard world peace wll will be mad nd it is liko likewise wise briged ocil tiel anac if tn h president takes i ind aggressive stand tr peace and throws hla his vast prestige against armed conflict heads of powers which are now close to war mav hink again before giving the com fiand to open hostilities the presidents trip to buenos aires is thus in the nature of a gesture in a world which was never nearer to armed chaos As a matter of tact fact in recent months there hive been more occurrences contributory to war than there were in 1912 and 1913 everyone hopes that gesture will be productive of good in the meantime it seems that every seasoned news commentator and every old time war correspondent Is certain t that at war in europe and asia is inevitable one of the leading correspondents pon dents recently stated on departing tor for europe that lie he was going to cover the next war the italo german cerman recognition of the spanish rebels has bag further widened the cleavage between these powers and france and russia the greatest force existing today in both europe and asia is the force of hatred not even in the boom days was there such a surge of extra dividends wage increases and employee bonuses as this season corporate industry is pouring out in oney money to its stockholders and workers in unprecedented amounts A list of extra dividends and I 1 bonuses declared would take many passes pages to deall but here are some outstanding items steel has announced a 10 per rent cent advance in wages which will up III payrolls in 1937 general will pay its workers a christmas bonus ot of in addition to other benefits chrysler has voted an extra dividend of per share eastman kodak declared i 1 75 cent extra and jewel tea company standard oil of 0 new jersey will pay a 11 1 bonus j to workers and sears roebuck one of upshot of this is that dividends dividend of 0 various big companies will n i 11 be as large as in depression pre days while wages in some cases will be higher steels new wage rate is the highest in its history general motors Is ia 10 per cent above the 1929 average business week says that next year Indu labor coq costi 19 w will ill possibly be the highest in all U S industrial history what caused this amazing change obvious answer is ia better times and there Is no question but what industry in general has pulled O olt it of depression has entered a period ot of recovery but that the entire answer to why business is figuratively breaking its neck in an effort to get as many dollars as possible into the hands of stockholders and workers before 1937 dawns big and potent influence is the new tax bill on undistributed corporation profits passed by the last congress this tax bill levies taxes of un severity on such f taxes ranging up lip to 27 per cent but when the profits are distributed tri buted in either wages bonuses or dividends the tax is avoided and that is the major reason why business is following its present lavishly generous course according to the new york journal of commerce distributions to stockholders ordered for the last three ee months of this year directly traceable to the tax law total at least 0 0 economists are highly dubious ot of the ultimate results of the law tear fear it will prevent industry from building up surpluses that are essential it if future depressions ar are to be survived in the meantime however the tax is helping cause a ver etabel dividend and wage boom |