Evening Star Newspaper, June 4, 1931, Page 28

[ B—12 CHAOS NOW REIGNS IN WHEAT MARKET Withdrawal of Farm Board From Cash Buying Leaves Prices Uncertain. Ep-cial Dispatch to The Star. KANSAS CITY, Mo, June 4 (NANA)—A situation unprecedented hera ond in other wheat markets all over the United States resulted when purchases of cash wheat by the Gov- ernment were abruptly ended. By cash wheat is meant the outright immediate hase of the grain as distinguished zom trading in futures. sation of the *“pegged” price for d-crop wheat, which was about 20 cents a buih(‘l higher than future prices for new wheat, threw the grain trade into consternation with disor- ganized values. Bids for cash wheat on the market here dropped 23 cents a bushel over- night, prices quoted being on the basis of the July future, or 50 cents, col pared to Government purchases Tu day at 74 cents. No bids were ac- cepted, however, and it was the first day in the history of th> trade that no wheat was sold in the open market in Kansas City. No Idea of Values. The Farm Board explained that or- ders to cease stabilization operation had been issued because sales of new wheat in Texas indicated new wheat had be- come a factor in the market. The grain traders went home last night with no very clear idea as to the value of cash wheat, and they prob- ably reached their offices today with much the same situation prevailing. Vetasan members of the Kansas City Board of Trade could not recall any former occasion when the bread grain had no established price. This confu- sion applied only to the car-lot mar- ket, where the actual wheat is offered and sold for cash. The futures market, where wheat Js offered for delivery next July,’ &Ftember and December, was on as definite a basis as ever. The reason commission merchants cannot, at the moment, quote bid and asked prices lies with the Grain- stabilization Corporation, which Tues- day announced in an abrupt manner that it no longer would pay its schedule of fixed prices for such wheat as the grain trade had to offer. The result of that step was to leave the cash market with no basis on which to de- termine values, and consequently both buyers and sellers withdrew while they attcmpted to revise their ideas. New Basis Sought. For several months the Grain- Stabilization Corporation and its sub- sidiary, all part of the Farm Board | organization, have been paving fixed prices for wheat, and this cchedule of | prices, being higher than the cpen market values, has determined the price paid by mills and other private buyers. The abandonment of the fixed price schedule, without even a few hours’ notice, forced the grain trade to cast about for a new basis. The necarest stable market for wheat is the July delivery, which represents grain from the new crop. In cr- dinary years, free of artificial influences, such ¢ those created by the recent stabiliza- tion policy of the Farm Board agen- | cies, the trade has effected a transition from an old-crop basis to a new-crop basis by gradually quoting its transac- tions in terms of the July price. This | readjustment in the past has peen a smooth one and hes bzen accomplished with no confusicn. That _situatio however, does not when the market was | THE EVENING STAR, WASHINGTON, obtain at present. The fixed price for heat at” Kansas City until yesterday was 73 cents a bushel for No. 2 hard wheat, while the July delivery, which has never had a supporting influence, | was only & fraction above 50 cents. The trade is unwilling to write the price down that much and conse- quently elected to think it over. 0ld Wheat Unsold. Despite the claims of Farm Board official that_prices of old wheat in a few days will go to the grain stabiliza- tion selling lev:ls, dus to the fact that practically_all the old crop carry over is owned by the Farm Board agency, grain men generally do not belleve this will ba th> c2s. Moderat> amounts of old-crop wheat remain unsold it is be- lieved, and for a_while at least will be sufficient to satis(y the limited demands go, th> Farm Board, expecting a peri 1" of ‘scarcity might Te- sult between the old and new crop ods, announced a schedule of priccs at which it would sell to millers any part of its huge accumulation. Accord- ing to this schedule, No. 2 hard wheat at Kansas City is held at 761 cents a bushel. The Farm Board's optimism is based on the prospect of a good demand frem mills the remainder of the present crop on. Several large mills are said to have ordered their buyers to withdraw | from the market until further notice. One miller said last night that his firm was not going to buy any wheat | until the market ‘was re-established. | Without mill demand there is little like- | linood of the market being_established | anywhere near the recent Farm Board pegged prices, it was said. Some belicve flour buyers will be frightened more than ever by the action | of the Farm Board and that orders for old crop flour, already reduced to a low \mnl will be held to bare necessity. | With the prospect of a new crop flour | prices being considerably lower, it is | certain that consumers Wil go into the | pew crop seqson withaut, .any flour on han (Copyrizht. 19m by North American News- aper Allance. Ine | W. H. Budke, D. C. THURSDAY,,JUNE 4, 1931 3 APPRENTICES T0 GET DIPLOMAS: G. P. 0. to Hold Commence- ment Exercises Tonight in Harding Hall. Thirty-five Government Printing Of- fice apprentices, who have ccmpleted the four years of training required of them, will be granted the status of full- fledged printers, pressmen, electrotyping and stereotyping platemakers and book- binders in exercises at Hoirding Hall, in the Printing Office Building at 8 o'clozk tonight. George H. Carter, public printer, will present the diplcmas. George K. Horn, past president of the United Typothetac of America, will deliver the address, while Jerome A. Richards, president of the graduating class, wil present_the acement oration on “The Four Years” John Greene, deputy public printer, also will speak briefly. Rev. Jamss Shera Montgcmery, chaplain of the House of Representatives, will pro- ~ounce the invocation. Music will be provided by the Government Printing Office Orchestra, under the direction of W. C. Buckingham. The apprentices who will receive diplomas are A. C. Bragg, J. A. Bryan, W. L. Burton, W. G. Copp, jr.. M. A. Dent, F. L. Dugan, B. Eller, C. Foust, A. W. Gonzales, J. E. Gray. R. A. Haley, W. F. Holmes, J. H. Hopping, R. E. Landon, J. F. Mealy, A. G. Miller, W. J. Moran, G. R. S. Mudd, R. S. GROCERS 3 Cans Sauer’s Vanilla 29 SHOE Can GOLD DUST Fairfax Hall 24-0z. Jar PICKLES Sliced Bacon . . SMOKED HA Fresh Hams Skinless Franks « Roast of Pork LN Cook Bolog 1 35¢ =g | | m | | | | | m | | m | | m [—][] v o CAMPBELL PORK & BEANS 19¢ FAIRFAX HALL MILK, 3 Toilet Paper LANG’S SWEET MIXED 11 to 14 Ib. av. Smoked Sausage SELOX, 1-1b. Cans 15¢ Bottle & Lemon .55 10c N | POLISH lic Lg. Pkg. 23cC One Can of Scouring Powder Free with Each Purchase of Large Gold Dust 1,000 Sheets Fairfax Hall SPINACH Fairfax Hall 23c MEATS LOFFLER’S SniP9c 1b. zoc - 23¢ - 30c ‘Whole or half FOUNTAIN = HAMS " 27¢c .2 27c ni3%c ed Ham . /4™ 18c Pure LARD » »= 11¢ Royal Pork . . ™ 39¢ .32 . N MEADOW GOLD BUTTER 2 . 69¢ 1 | -] MATCHES 6lg.boxes| 7 ¢ Fruits & Vegetables CANTALOUPES For the Location of Your Neares’r Nahon \Nlde Sfore Phone Lincoln 0093 WHY CARRY YOUR PURCHASES HOME DURING THE HOT SUMMER MONTHS WHEN YOUR NATION-WIDE GROCER WILL DELIVER AT THESE LOW PRICES? RINSO Lg. Pke. 22C 2 rkgs. 25¢C SOS CLEANSER 13 More Pads 2 15¢ Pkgs. 25¢ California PEACHES & PEARS, 3 &x 25c Cook’s Polgnd and Raisin Cake . . . * 23c 4 rotis 25¢ | RED BOX MACARONI, 2 Pies. 9 ANGLO CORNED - BEEF 12-0z. Tin 23C Lg. Can |4C Spring Onions . . Texas Onions . Carrots and Beets New Cabbage New Potatoes [ CUCUMBERS Red Radishes . Green Peas in Pod Fancy Stringless Beans . . ..™ Fancy Lemons Ripe Bananas ICEBERG LETTUCE, QUARTERED KELLOGG’S RICE KRISPIES 2 P 23cC 23c | Old Dutch CLEANSER, 3 cens 20c Campbell Tomato Soup . . . . . 3=~23¢c . Nation-Wide SARDINES cen llc In Pure Olive Oil . All Prices Effective Until Saturday’s Closing le=|o|—=0|n|[c—=]a|c——a |0 c——=|a| ——=3||d|c——=|a[c——|o|c——an|c———} WHITE STAR TUNA FISH Med. Can 23C 2 - 25¢ . 3 unctes [Qc .3 l4¢ . 2 bunches |5¢ . .m4c 10 »= 29¢ each 5c 10c 25¢ 10c 29¢ 23c hds. l,c PRINTS L 1 3 bunches L3 ms doz. don jo|——o|———a|—Fn[c——]o[c=——r—]a] o} W. R. Price, J. W. Reld, J A Rich- ards, P. R. Rowze, F. E. R. J. Shan; H G. Smith, B Wool and Tanizhcs grnduntlon exercises con- stitute the fifth annual commencement rogram for apprentices who complete ‘The custom: Carter. thelr four-year training. was inaugurated by Mr. FRATERNITIE.S TO REOPEN Michigan U. Grants Commencement Favor to Rum Offenders. ANN ARBOR, Mich, June 4 (#.— Fivefraternity houses, closed after liquor raids last February, will be re- opened for the last two weeks of tae University of Michigan school year. The University Senate Committee on Student Affairs announced yesterday | the order closing the houses until Fail | | had been modified to permit seniors to live in their houses and entertain rela- tives and friends during the socal offairs incldent to graduation. The fraternities_are Sigma Alpha Epsilon, | Delta Kappa Epsilon, Kappa Sigma, Phi Delta Theta and Theta Delta Chi. Disease. By the Associated Press. a long illness, at the age of 75. It was in this i 1219-1221 G ‘Street N. W, { S ; chandise added makes every day a da of Surprises in this great sal Don't Miss One of Our Ads. Do skip a single item. Because We're Selling Out Balance of Our Better DRESSES All At One Price to Sell Quick Silk Pique—Shantung—Flat Crepe— Cotton Rayon—Jerseys—Knitted Dresses—Jacket Dresses z for ss All Sizes Busincss—Street—Sport—Afternoon Downstalrs Store Because We're Selling Out Smart Dresses Colorful Cottons in the delight- ful Summer Prints. All new Summer Styles and All Sizes Included. You'll want several for the hot days. Downstalrs Slnr.l Lower and Lower Go Prices Dresses of Fashion Slashed for Quick Selling Smart Silk ., DRESSES 3.97 Kecond Floor Not odds and ends but brand new Nor- mandy Voiles, Piques, Printed Voiles and fancy Rayons, in the prand new colors and the very newest styles. Downstalrs Store just about the of one yard of silk we offer you a smart, new summer frock in a bewildering variety of styles and colors. Newest Summer Styles 67 - We Never Saw Such a Slash in Prices Sacrificed Because We're s Selling Out You ean have all the dresses ycu need for business, afternoon, eve- Nk and_sports wear, for at this Price mo wardrohe need lack plenty BFew” amart ik frocks. Rogular Sizes, misses” ‘sizes and half- Second Floor / Any khlt‘ of jicket jou wint? Veivets, ‘Silks and Shcrts fabrics. Also Jack- % Coats of smart novelty fabrics. © Al sizes, thoush - not in every style. PR SO . o IRV We’re Selling Out s It 15 giving them away to ecll them at such a price. Most of them won't return our orizinal cost. All are hrand new styles, Third Fleor IN ARABIAN EXILE Historic Leader of Revolt m‘ Turkey Loses Fight With % JERUSALEM, June 4—Former King | Hussein of the Hedjaz, one of the most |romantic figures in the Arab revolt | against Turkey during the World War, | died at dawn today at Amman, after | Arab revolt which Hussein started that the famous Law- rence of Arabia played so prominent a part, working chiefly with Hussein's{ with the British government son Felsal, now King of Irak. Ic an Anglo-Hedjaz cru.zyt Siton e Hu;sel;n was the c‘enn:: }rlizure i}x;t thmel refused to sign unless it included the pan-Arab movement which sought recognition of Pale: e s e e b e et e e i i of Arab states under his rule. Some months ag> Hussein was re- ported to be éngzged in writin i To Be Buried in Jerusalem. tory of the Arab revolt ngnmn‘ l:lr';zy ‘The former King, who lost his own | during the World War. At the time throne in the Hedjaz to the chieftain | of the 1929 disturbances in Palestine Ibn Saud in 1924, will be buried in| Husscin made a statement in which Jerusalem. It is likely that interment|he bewailed the misforcunes in Pal- | Wil be in the vicinity of the Mosque | estine and recal'ed. that “but for my of Omar, near where Mohammed Ali, | sention on beh)f of Palestine I Indian Moslem leader, is buried. Sl Dot be a miserable exile now.” o o, 1916 to 1924 he was King of = e Hedjaz until he was compelied > abdicate by Ton Saud, Emir of Neid | BRA' 'VNER TAKES OFFICE and King of the Wahabis, swho Joter | e absorbed " Hedjaz, 'Hussein “was then o exiled to Cyprus, where he lived until late last year, when he first became | serfously il ‘and was brought to Amman. | In 1924, after the Turkish Republic abolished the calinhate. King Hussein was proclaimed caliph by the Moslems of Hedjaz, Irak, Transjordania and Palestine. For a brief time he was the | cutstanding figure of the Arab world. vice president; Ran- Recalled Palestine Stand. | dolph E. Myers. secreta David Barry, When he was df‘nn<cd xs Kinz of | treasurer; F. W. Loetsch, “lion tamer, Hedjaz, Hussein iscussing | and 1V. Spencer Brenizer, “tail twister.” Installed 25 Fresident of Lions Club at Luncheon. Edgar Brawner was installed as pres- ident of the Washington Lions Ciub at the organization’s weekly luncheon meeting in the Mayflower Hotel yes- terday. Ol’nr cfficers installed were: Leonard ¢ president; Charles J.BJones &ECo. - Between 12th and 13th Street GOING OUT OF BUSINESS Prices Hit The Bottom! FOR FRIDAY BECAUSE New Imported Because We’re Selling Qut 400 PAIRS $ ALL STYLES Values to $4.00 Low Price FRIDAY S The Newest SANDALS $I 95| sHoES 82.95 Yalues to 36 $4.00 to ity $6.00 Value ‘BOUDOIR SLIPPERS 79 DANIEL GREEN c Snugglers and Other $1.25 and $2.00 Grades Because We're Selling Out Every Hat Made to Sell for $3.95 and $4.95 All Contracted for Before We Decided to Discontirfue FRIDAY White and Pastels - 29 Season’s Newest ] Stitched Crepes Soft Panama Toyos Boucle Turbans Closing Them Out at This 300 NEW HATS Toyo Panamas FINE SILK UNDERWEAR 1 $3.00 and $4.00 Values Step-in Dance Sets, Teddies, Step-ins, Gowns—Tailored and Lace Tnmmed 100% SILK @ UNDERWEAR $1.95 and $2.95 Values Step: Teddies, Danc> Sets— White and Pastel Shades Main Floor $2.95-:83.95--$4.95 LEATHER BAGS Also Silk and. Tapestry In All Wanted Colors and Stylec—Beautifully Lined and Fitted Main Uloor