The Bismarck Tribune Newspaper, June 27, 1929, Page 2

PAGETWO_-- Industrial Activity Assures Farm Products Big Summer Demand’ WHEAT REDUCTION =| — | MAY BOOST PRICES ARTER FIRST DROP: Heavy Marketings at Outset Expected to Depress Quo- | tations Briefly COMMODITY LEVEL LOWER Outlook Says Large Output of Automobiles Has Been Main Business Stimulant By 0. M. FULLER | (Assistant Farm Economist Agri- | cultural College) | From the present hich rate of in- dustrial activity there is developing a volume of consumer buying power which will sustain the consumer de- mand for farm products during the | summer months. However, some re- | duction in consumer demand may de- | velop later in the season due to ths reduction in output of iron, steel and automobile industries, cspecially in the face of high interest rates. The large volume of automobile; Production appears to be the chief stimulating factor in the record out- put of iron and steel as well as the| increased volume of freight traffic | handled by the railroads. Factory em- ployment and payrolls, which in April increased contrary to the usual sea-; sonal trend, have apparently been maintained at present levels. The general level of commodity prices, which has tended downward since last September, reached another Jow point by the end of May. On June 4 the index stoc 1 at 143.9. The gen- eral level of prices received by farm- ers May 15, at 136 per cent of pre-war | prices, was 2 points lower than April 15 and 12 points lower than May 15 a year ago. Most of the decline was due to lower grain and cotton p::ces, al- though hog, lamb, wool and butter prices were also lower. In North Da- kota the <>neral level of farm prices has decre=sed. Wheat With a reduction of 5 per cent in the world’s wheat crop, as is now in- dicated, anc other factors remaining the same, the increase in world de- mand would result in some increase in the average world market price for the season over the average for the past season. The world carry-over on July 1 will probably amount to from 125 to 150 million bushels more than that of last year, and most of this will be in the United States. ‘Wheat areas, estimated in 22 coun- tries which harvested 56 per cent of last year’s acreage, report to date an increase of 6,000,000 acres, or 3.8 per cent more than last year. In some of the European countries extensive win- ter-killing has been reported, and drouth is retarding seeding in Argen- tina. The early forecast of production in the United States indicates a crop somewhat larger than that of last year. According to the Canadian of- ficial report for June, the condition of spring wheat in Canada is equal to the 10-year average. Heavy marketings of new wheat in the next two months, together with favorable crop reports, may cause short periods of depression, but should conditions develop in Canada, Argen- tina and Europe as now seems pos- sible, the general level of cash prices is likely to be lifted upward to some extent as the marketing season pro- gresses. Flax Present indications are that the Argentine flax crop was large enough to offset the reduction in the North American crop and that the produc- tion in five chief producing countries in 1928 was probably equal to or slightly above the production in 1927. Preliminary figures on the interna- tional trade in flaxseed during the calendar year 1928 indicate shipments of a larger volume than that of 1927. ster Ror] vee 56 + 72) + 52] 16 18 f Weather Report o— Temperature at 7 a. m. Highest yesterday Lowest last night Precipitation to 7 Highest wind_velocit: THE BISMARCK TRIBUNE out.’ SIDE GLANCES - - - - By George Clark | “Yedh, I remember that ‘un; that's the best lookin’ model they ever put Fairly complete returns for the chief importing countries show smaller quantities being taken by the United States and the United Kingdom, but more flaxseed going to continental Europe. On May 15 the average price received by producers in North Da- kota for flaxseed was $2.13 per bushel, and this was estimated to have in- creased to $2.15 June 15. Potatoes Present indications are that the general level of potato prices in Au- gust, 1929, will be considerably higher than a year ago. Based on the June 1 condition of the United States second early potato crop, it seems likely that the United States’ crop in 1929 will be less than 12,000,000 bushels, as com- pared with 18,000,000 bushels last year. This should tend to strengthen prices after the low levels reached in June. In North Dakota the average price received by producers for potatoes May 15 was 25 cents a bushel. The heavy movement of early potatoes is in progress and, together with ship- ments of old stock, has had a ten- markets. Beef Cattle A seasonal advance during June and July on grain-finished cattle at least equal to that of last year is expected, together with less than the usual sca- sonal decline on grass cattle. Receipts at seven leading markets were 10 per cent smaller than in May, 1928, and 18 per cent below the five-year May average, and the smallest for the month in at least 12 years. Shipments of stocker and feeder cattle from 12 markets into seven leading feeding states were 8 per cent larger than in May, 1928, and the largest for the month since 1924. While range con- ditions are good in important cattle states, the market movement of grass- fed cattle in volume will possibly be a little later than usual. On May 15 the average price re- ceived by producers in North Dakota for beef cattle was $8.80 per hundred- weight, and on June 15 this was esti- mated to be $9 per hundredweight. Hogs Hog prices are now showing indi- cations of having reached the sea- sonal turning point and beginning the advance which usually takes place in 1. Took food On: 19. Seout with hon a. 33. Meseaiar 34. Pronoun 47, Constitaent 3. De part % poeta sed Large serpent a% Elector Yt Dmact 5% Man's name ’ ne ata 8% Pablie notices $3. Sheet of glass DowN 44. First t pee L Risieions te Bsazsaeszzseassss Sesessssssesssesesss BERNE NBERBRREEERE OES | ta E i Fe hi te iH 1H i 3 ap f dency to reduce prices at important | the summer with a decrease in mar- ket supplies. Hog prices are now on a higher level than they were a year ago, and it scems probable that the rise will carry prices to a higher peak = than last year. Slaughter supplies have not been greatly different from those of a year ago. Inspected slaughter in May was only 2.2 per cent less than May last year, and for the first seven months of the current year, which ends in October, was only 2 per cent less than in the corresponding period of the Previous crop year. Storage stocks of pork June 1 were 5.2 per cent less than the unusually large June 1 stocks of last year. Lard stocks were the second largest on record for June. Exports of pork produced in April were about the same as in April last year. Lambs Supplies of lambs in July will de- pend largely upon developments in the carly lamb areas of Idaho, Wash- ington and Oregon. Feed and weather conditions in the spring held back the development of these lambs, and therefore the movement to market will be later than usual and the lambs will be below normal quality, Receipts of lambs at seven leading markets were 20 per cent larger in May, 1929, than a year ago. Inspected slaughter was over 18 per cent larger in May, 1928, and the largest for May on record. The average price received by pro- ducers in North Dakota for lambs Sctution of Vester May 15 was $11.70 per hundredweight, This was estimated to have increased to $12.80 by ae 15. itter - Present indications are that the and July will probably be below of a year ago and close to the of 1927, due to a production heavier than a year ago and about the sum- mer production of 1927. Receipts of butter at four principal markets dur- ing May were 70,742,000 pounds, com- pared with 61,424,000 pounds a year ago and 64,940,000 for the five-year average. ‘With lower prices for feed, the situ- ation is more favorable for butter pro- duction than either 1927 or 1928, and about the same as 1926. The average | Daily Cross-word Puzzle ACROSS 4 tna 6 ine E brent as, Seles onctes- i pastes 44, Stare A Noswe boat 44 ntoekactiag®™” ® Continents 4. Bahola! abbr. 4 Man's aten- 10, Pack name average price for butter during June | ing that SYNOPSIS. Andrew Ogden , blackmailed 25 years for a crime he did not commit! Peebles con- cludes that “Dillon” levied his ex- tortion against Ogden because the latter, in his days as Alex Peter- son, had shot Joe Lundy and be- Weved him dead. Visited by the “woman in black” a few days be- fore he was murdered, n learned she is Mrs. Lundy and her husband Is still alive. Peebles de- cides “Dillon” killed Ogden after being confronted with the facts. ing of Mrs. Lundy com- pleted, Peebles sends her to police headquarters and returns to his den and a surprise—Jerry Ogden and Lucy are there, with Henry Deacon. CHAPTER 33 PRODIGALS T leaned against the door jamb, my legs as weak as a newborn calf's, and I saw that I would be making an ass of myself, if I didn't look out. I managed to stumble forward and they swept towards me, simultaneous “Uncle Johns” on their lips, and took me into their arms, None of us spoke until I suddenly remembered Deacon. “Where did you find them, Henry?” I demanded. “I didn’t find them, John. They ,| dropped in at headquarters.” Neither of them spoke. Haggard of face, Jerry whipped out a cigarette, made a boggle of lighting it, and flung it into the grate. At that mo- ment he reminded me of the Andrew Ogden, the reckless Peterson, I had imagined, but had never known. “Mrs. Lundy was here,” I said, to help things along. “Where is she claimed. “On her way down to headquarters. She has a good deal to tell you.” Jerry broke in suddenly, address- ing the fireplace; “I feel like a‘skunk!” And then, " now?’\ Henry ex- jiserably ou are entitled to take the hide off me, Uncie John.” At this Lucy ran to his side and slid her arm around his waist, challeng- ing Deacon and me with defiant eyes. “It's my fault, Uncle Jobn!” she exclaimed emphatically. You mustn't blame Jerry. I made him do it!” “Made him do what?” I inquired, alarmed. “We'll tell you afterwards, Uncle John.” Her voice was tremulous. “Jerry was with his father Friday night before—before Uncle Andrew told him everything. Jerry must tell those things first.” “I agree with the young lady,” Dea- con observed dryly. “But you might as well tell us what Mrs. Lundy had to say for herself, John,” Deacon added. I did so, putting it briefly. Just as I finished, the telephone rang. My old colleague in Los Angeles was calling and I talked with him for a few minutes. “Go ahead, Jerry,” I granted, when Thad hung up. “Mrs. Lundy told you the truth,” he said earnestly. “But she didn't touch the meat of the story. It’s the queerest tale you or Captain Deacon ever heard. It's a long tale, too.” “Get at it, then.’ “Mrs, Lundy has told you how dad came to Torridity,” Jerry began. “You know about him bringing Uncle Jerry to Torridity. You know how he got the name, Ten-to-One, and how he made a fortune by gambling in min- es.” properties.’ “You don’t need to go into that, my boy,” I said. “Tell us what hap- pened to your father—how Alex Pe- terson turned into Andrew Ogden.” “Let him get on with his story,” Deacon grunted. Jerry threw him a defiant look that primary cent lower than last year. s Wool Prices on most grades of wool con- tinued to decline during np but the By CHARLES G. BUUTH dad Uncle John. It must come pret- ty hard. But when I tell you about his last night in Torridity you'll un- derstand. It took 35 years to make dad what he was that night. It took six hours to turn him into the man you knew. It would have broken a weaker man, that poker game—” “Poker game! I flung the words back at him. “There was a poker game, then?” “The game that cracked the town, Uncle John.” His somber eyes held me rigid in my chair. “You mean—they played poker. @ man’s life?” “Yes, Uncle John.” “Who was the stake?” Deacon rapped out. Jerry ignored the question and Deacon's face darkened; but Henry made no response. I suppose he real- ized that the boy couldn't be expected to feel any too amiably disposed to- wards him. “Dad had a remarkable memory for details,” Jerry went on, “and he made those ghastly six hours so vivid that I felt as if I were down there myself. Dad's six hours began just before sun- set on Monday, July 6th, 1896. He was in his cabin on the Two Brothers flew open and Uncle Jerry tumbled into the cabin. His eyes were wild it happened. | It and dad asked him what was wrong. It took him a minute to get it out. “‘Lundy—the bunch are after me,’ he gasped. “They're going to string me up—’ “Uncle Jerry got his wind, then, and he started to pour his yarn out on dad. It seemed they'd taken him down to Lundy's and given him a miner's trial. Lundy had been judge. Jerry had made a break for i away. Alex had treated him when he ought to have taken hide to him. Now he was Alex into it, low-down hog thi ta Alex must hand him ov RAN LAM: IN THE Law ba is 6-27 A LOOP HOLE ©1020, ov mea seanice, we. dogs, shepherds have the yakamik, 2 species of crane, guarding their sheep. It ts said that no matter how far the yakamik may wander with the flock, it always finds its way home at night, driving the sheep before it. CRANE GUARDS SHEEP Caracas, Venezuela—In place of iy. ‘It isn’t your fune said. ‘Ww! have you done now?” dad roared at him. Uncle Jerry had been eh to every kind of deviltry imagin- able. “Jerry had started in to tell him when they heard shouting off toward the town. Half the town was racing towards the Two Brother: mad, by the way they were coming. looked bad and dad knew it. ae on son! Pronto!’ he ‘But Uncle Jerry shook his head. ‘I shouldn't have come here, Alex,’ he said. ‘I'm going back. It isn’t right to rope you in on it. You've always treated me a darn’ sight better'n I deserved. So long.’ “He dragged open the door he had burst through a moment before and was for making off across the desert when dad jumped on him from be- hind and swung him towards the flank of the Skeletons behind the mine buildings. “Dad must have been pretty husky in those days. He grabbed Uncle Jerry by the shoulders and hustled him toward the mine tunnel and dumped him into an ore car. “‘Keep your head out of sight and shut up!’ he growled, running the car into the mine. To maintain a slender figure, no one can deny the truth of the advice: “REACH FOR A LUCKY | INSTEAD OF A SWEET.” “A bullet flattened against tl overhang of rock above the tunnel e! trance and the crowd let out a fright- ful yell as they saw what dad was doing. Dad shut the door of the tunnel entrance and padiocked it; then Citra his back to the door, f AT THE MOVIES © | ° tinue every Saturday night in « coast to coast + radio hook-up over the N. B. C. network, * | —_, as f x Y ( ‘ y ‘