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Newspaper
Athens Messenger
Location
Athens, Ohio, United States of America
Date
Jan 19, 1932
Page
10
United Press reports a sweeping liquidation across markets in 1931. It details plunging stock and bond prices, bank failings, and deflationary pressures that drove the era, noting a potential recovery in 1932 as management cuts costs and conserves resources.
Chairman Harry F. Sinclair of Sinclair Consolidated Oil Corp. reports a better outlook for 1932 after a difficult two-year period. He cautions that predicting future business conditions is risky, given uncertainties from international events and external influences on the oil sector.
The president of Poor's Management Corp says production has been low too long and relief is needed soon. He cites railway bond risks, unrecoverable foreign credits, U.S. treasury deficits, and frozen real estate loans as near term hurdles. The Railroad Credit Corp plans to lend about 100 million to weaker lines, with Reconstruction Credit Corp options aiding railways and other critical sectors. Wage reductions for railways are anticipated.
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