Evening Star Newspaper, October 1, 1930, Page 12

ADVANCE IN GRAIN ¢ PRICES PREDICTED Favorable Factors in Situa- * tion Declared Likely to Lift Values Soon. BY OWEN L. SCOTT. Special Dispatch to The Star. CHICAGO, October 1.—Grain mar- kets—engulfed in a wave of pecssimism and adversity that has carried prices to the lowest in a quarter of a century ould soon see the light of better That is the conviction of the trade suthorities here who make it their busi- ness to anticipate trends. Iis portance is indicated by the fact that | more than any other factor, d-moralized prices have accounted for uns: ent in other agricultural commodi- Favorable Indications. Reasons given for believing that the worst is over, are varied 1. Evidence that Wint, supplied unfavorable planting conditions this Fall. 2. Heavy feeding of wheat to livestcck 18 likely to cut sharply into surplus. with cash wheat selling at 68 cents and gash corn at 86 cents, growers are jctured as accepting Farm Board ad- to feed wheat Likelihood that the Russ soon will have spent i orce, at | it temporarily d of Trade of- | on Monday absolved that coun- 'y from the charge of seeking arti- to lower w prices by mant but poten- mpetitor of Sellers have ¢hile_buyers A 50-cent few months scounted many unfavorable developments so that when bullish factors begin to work, values ean respond. There is estimated now 6 be less wheat in the world with prices at 70 cents a bushel than there Was in 1928-20 when it was selling at 30. 5. Normally when wheat is moving Beavily to market, prices are unsettled owing to the pressure of technical hedging sales. The marketing period soon will be past and seasonal factors ‘will have a turn. Unfavorable Factors. “But there are factors which trade authorities emphasize are working against the likelihood of any real profit 40 come from wheat farming in the fu- fure. Chief among these is the fact t foreign markets are dwindling. tariffs, along with increased Rus- , Canadian, Argentinan and Aus- fralian competition for available mar- kets, shut the door to good prices. United States farmers are high cost producers, while their compstitors in ‘world markets can market profitably on extremely cheap wheat. This is the of the Farm Board effort to in- American growers to cut wheat In addition, Government interference the shocks to which a market is sub- But forces are described as working Inst continuance of the distress phase the price situation in grains. (Copyright. 1930.) C. & P. OF BALTIMORE AUGUST NET $232,219 Company Reports Plant and Equip- ment Expenditures at $4,060,764 in Eight Months. Special Dispatch to The Star. BALTIMORE, October 1.—Operat- menues of the Chesapeake & c Telephone Co. of Baltimore City for August amounted to $1,158,- 293, according to the report of ope: tions just filed with the Maryland Pub- lic Service Commission. Expenses dur- ing the month were $926,074, making et revenues $232,219. $9,384,165. Expenses during this period ‘Were $7,395,921, making net revenues $1,988.244. ‘Telephone operating revenues for the 12 months ending August 31 amounted fo $14,069,705. Expenses for this pe- were $11,038,017, making net rev- enues $3,031,688. This is equivalent to 8.74 per cent on the average value of the company’s property as fixed by the Public Service Commission as of De- cember 31, 1924, plus additions. This walue on August 31 was $46,426,676. Taxes assignable to operations in August were $114,123, which was an in- erease of $5.976 over the same month in 1929. Taxes for the first eight months of the year amounted to $943,- This was an increase of $31,950 over the first eight months of 1929. For the 12 months ending August 31 taxes amounted to $1,357,046. Capital expenditures for plant and equipment in Maryland for the first eight months of the year amounted to $4,060,764. Retirements during this pe- riod were $1802,608, making net addi- tions $2,258,156. Net additions to plant and equipment for the 12 months end- ing August 31 amounted to $3,320,334. NEW YORK BUILDING CONTRACTS SHOW GAIN By the Associated Press. NEW YORK, October 1—Septem- ber contracts for residential build- ing in the metropolitan area of New York to and including September 26 ‘were at a daily rate 46 per cent above the August rate and more than double the rate for September, last year, F. W. Dodge Corporation reports. Contracts for construction of all types awarded in the area from September 20 to Septem- ber 26, inclusive, totaled $17,655.500, bringing the September total to $75, 291,700, or at a rate of $3,422,400 per Dusiness day. The daily rate in August ‘was $2,950,300. For the year to Sep- tember 26 construction awards of all types totaled $733.357,700, against $899,- 224,300 for the like period last year. Very Low Back Home Excursion From Washington to Points in North Carolina South Carolina Georgia Florida Alabama On Sale October 4th Return Limit, October 24th STOP OVERS ALLOWED T e Sl o Weite e F. E. Masi, D. P. A _ 1418 H St. N.W, MACHINE-TOOL MARKET TRENDS ARE CONFUSED Special Dispatch to The Star. NEW YORK, October 1.—Mixed buying tendencles dominate current ac- tivity in the Nation's machinery and machine tool markets. More lively pur- chasing in the Eastern trade centers is counterbalanced by continued dullness and moderate business in the Middle West and on the Pacific Coast. Both the bears and the bulls in machinery circles find equal authority in present conditions for any forecasts they may care to make, reports American Ma- chinist. Most New York dealers view August as representing the subceller in the de- cline, but, according to present reports, a few rays of business sunshine are now penetrating the gloom. One of these| is American Locomotive's 7-tool order, while other sales-totals far surpass Au- gust figures. Optimism in the Buffalo market seems justified in the speeding up of several industries, although a | number of orders considered “in the | bag” have popped out again. Reports from New England indicate | conditions there are highly favorable, | with radio and electrical industries bu ing, a substantial volume of automoti orders and a numbcr of worth-while | foreign inquiries. Small tool sales in that territory are also reported on the | increase. | Indianapolis dealers see little evidence | of improvement, although operations | are being stepped up and a wide range of industries are acquiring tools. Dull- | ness persists in Chicago and Detroit. New Orleans’ prospects are best in the slowly retruning Southern market. Los Angeles dealers report inquiries, but no purchasing. Canadian business is im- proving in all departments, with public | works and hydroelectric construction ding the wa Estonia is the smallest of the three Balkin republics which grew out of the World War. It also is conspicuously progr THE EviLnNING STAR, WASHINGTON, true on rainy days, for a woman will not s largest depart. | 0PIt 0 t};ulnhx all of her shopping in ment store executives finds that instead | Soppine Tt e 0 1oy, S Ricte of curtailing sales, rains bring heavy| enjoys the experience.” B buying days especially If the downpour | ~Perhaps there is more of a tendency begins by 8 in mfh"‘“m’""- . toward a return of the genetal store idea It used to be that & rainy day meant | jn department store practice than some that very little business would be done, | of the statistical expets realize.—Nation's but the situation in this store gradually | Businese reversed itsel | i “The changs from slow to busy ralny\ sl sgazny has b;a i K;nil::l gne w!ll}‘ Debentures Are Called. us,” he says. “We foun t almost all J! v of our competitors started to swcmm}w!;lcw YORK, October 1 (@).—The and go the limit in the matter of stock | Vv son-Snyder Manufacturing Corpora- control. Cautious buving soon cut their | tion has called for redemption on De- stocks way down. The inevitable result | Cember 1 of all of its 6 per cent guar- was that many customers concluded that | 8nteed debentures, amounting to $800,- only certain things were in stock. After | 000, at 103 and accrued interest. being told a few times that the store | doesn’t carry items asked for, customers |y came to shop in each department store for particular items, as they would in specialty shops. “A wide sclection and assortment of merchandise was given our customers, | building up the idea that they could find whatever they wanted. It is n bearing resu! This is One of New York' ANCHOR BAR TEETH BEST_FoR 15 YEARS FITTIGHT STAY TIGHT] your car station. COAL PRODUCTION, | By the Associated Press. Production of bituminous coal during the week ended September 20 decreased 25 per cent, as compared with the pre- | vious week. Output for comparable pe- | rlods follow, as reported by the United ! States Bureau of Mines: 8,915,000 tons 9,145,000 tons 11,013,000 tons Board Chairman Named. NEW YORK, October 1 (#)—James M. Oraham, formerly president, has the city. the Indian Refining Co. S When in New Yor or Philadelphia Leave Your Car Here! We will wash, grease, store or service in any way while you are out of We will even take you to the Save taxi fare for you. Just & part of our complete service. Goodrich Cavalier 31x5.25, $9.75 lvuurl\"l!"l\ln Fit Tight Crown and Bridgework Teeth Extracted, £1.00: with Plates Repaired While You Wa DR. LEHMAN 406 Seventh Street your size Over Woolwartn's 8 and 1 j RN Yes, the price is correct. reasonable, what three did some years ago. Sounds un- But today your dollar buys We have in stock. New Jersey Avenue Garage ONE BLOCK FROM UNION STATION 419 New Jersey Ave. N.W, AR been_elected chairman of the board of | Frankly, we have too many pianos mow in stock. Of eourse, we would like to sell them. Some new, some used instruments. Every piano in the sale will be sacrificed at a price almost unbelievable. The slashing reductions on Grands, Players, Uprights should cause many to be sold immediately. All pianos not sold outright will be placed in the homes of familiesinterested in owning a piano in the immediate future, particularly homes where there are children. You must call at the store to file your request. Positively No Charge Of Any Kind We, c:f course, reserve the right to select the homes in which the pianos are to be placed and they may be used indefinitely until we need them. CHAS. M. STIEFF, INC. Open Evenings 1340 G Street N.W. Copyright, 1930, L. €. Gorsuch. 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Automatic Gas Heat gives you perfect heat, with -no ashes, soot, dirt, vapors, fuel bin or fuel tank. The new low rate puts Auto- matic Gas Heat, a richman’sluxury, within the means of the average man. Let us give you a dependable es- timate on what it will cost you to have Automatic Gas Heat in your home. Call National 8280, the House Heating Department. “Something Better That You Can Afford” ‘Washington Gas Light Co. Georgetown Gas Light Co. Tune In on Daniel Breeskin Over WRC Saturday Evening at 7:15