Evening Star Newspaper, June 24, 1931, Page 12

rA-12 COMMODITY PRICE TREND IRREGULAR Gains in Some Lines Are Offset by Declines in Others. @Galns or recoveries in price of wheat, eotton and hogs the third week of| June were offsst to some extent by | weakness in the egg and butter markets and in fruit and vegetables, says the United States Department of Agricul- | ture, Bureau of Agricultural Economies | Market News Service. Declines in these products were the result of a rush of new supplies. Live stock markets were irregular, with hogs higher, cattle about steady and sheep lower. Mill feeds tended toward still lower prices. Potato Supplies Heavy. Although potato shipments decreased somewhat, the accumulated supplies in | terminal markets were still quite heavy week previous, allow! for the mwr-! ruption of a local holiday. The finer grades of Western wools were quite active, with sales of territory and Texas 64s and finer wools in the original bags comprising the greater portion of the aggregate volume, . Grain Markeis Irregular. Grain markets were irregular during the third week of June. Wheat futures reached new lows at Chicago and Liv- erpool, with continued lMberal offerings from exporting areas and only moder- ate import inquiry, despite the recent nhxtzm-x in milling regulations in France and Germany. Quotations on ! corn held within a narrow range. Feed barley held steady, with light: offerings meeting only moderate in-| quiry. High-grade mill feeds were quiet, with limited inquiry. meal_was slightly lower, but cottonseed advanced | moderately. H Hay markets were quiet, with liberal offerings meeting dull demand. Good pasturage in most areas is restricting the demand for ha; AUTO INDUSTRY TRIES TO OFFSET TRADE LOSS By the Associated Press. | ‘The automobile industry is continuing | its valiant effort to lead the country out By the Associal | prominence several mon a Te: sult of his opinion holm y he eenth amendment unconstitutional, addressing Convention of the National Association of Credit Men on “preventing voluntary asset slaughter.” and prices of new stock declined further | of the business and financial chaos. the second half of June. Best North| The steady improvement which set in | Carolina cobblers were down to $1.50 |six months ago is characterized in to $1.65 per barrel and prices on the | Washington as an omen of encourage- Eastern Shore of Virginia declined to | ment, indicating that at least onc of about $2. Old Green Mountains from | America’s most powerful businesses re- Maine, of good quality, seemed scarce ' fuses to fold up and quit. and prices advanced in Eastern markets. | May automobile production, estimated | ‘The preliminary report on onion | py the National Automobile Chumber of planting in 17 late States shows a total | Commerce on a daily average basis, of 49,560 acres, or about 12 per cent . amounted to 338,307, equal to-the pre- less than in 1930, but about equal 10| vious month and showing a emaller per the previous five-year average. Some | cent decline from the same month of acreage previously reported has been|jast year than any month thus far in lost, chiefly in Minnesota, Jowa and ! 193, Utah. : | *“Sales of automobiles in April hkewise Strawberry prices held nearly"steady | showed a smaller per cent decline from at a rather moderate level at shipping | last year than any previous month this points and in consuming centers. The ! year. Fragmentary reports for May in- season is shifting to the more Northern | dicate but little change over April. States, where much of the crop is con- | However, production, which is being kept sumed locally. Watermelon shipments | strictly in line with demand, is ex- were more than twice as heavy as the | pacted to show a decrease along the preceding week and are averaging | seasonal precedent of a 15 per cent de- around 600 cars daily. Medium to large. cline. sized Red Bird peaches were returning | Best estimates on the production of $1.50 to $2 per six-basket crate at | automobile tires this year places the Georgla shipping points with medium- | total at around 51,000,000, against sized Early Rose at $150 to $1.75. In | 54,000,000 in 1930. Of this amount, consuming centers peach prices were | 12,000,000 are for original equipment, tending downward under the increasing | 2,500,000 for export trade and the bal- supplies. Prices of California and Ari- | ance for replacement. The latest re- vona_cantaloupes strengthened slightly, | porting month, April, showed an in- but honeydews declined. {rease of 36 per cent’ over the bottom touched last November, whereas the Butter Fairly Steady. | usual seasonal rise from November to Butter markets were weak in late | May is approximately 25 per cent. Tire June, with values slightly below those dealers are said to have their stocks in of the middle of the month. Buyers in good order, the inventories for April most instances were cautious. The peak being 23 per cent under the correspond- of the season's butter production mav have been reached the third week in June. Pastures in the majority of the | heavier butter-producing States, accord- ing to reports from the Weather Bu- reau, have shown considerable improve- ing month of last year. COPPER PRICE HIGHER. NEW YORK, June 24 (#).—Con- tinued increased ‘demand for copper ment during June. | sent the price of uarter City cheese markets continued in the |of poci gdSy‘::f ot o faamegtis steady-to-irm trend established several | and export markets. weeks ago. Buyers proved more willing | The advance, the second in as many to anticipate future needs by placing | days, brought the domestic price to larger orders, both for spot demand and | 81, cents a pound, delivered, and the for shipment. Dealers generally held | export price to 8.7175 cents, C. I F. goods closely to asking prices in antic- | European base ports. ipation of higher replacement costs, but | at the same time lost no opportunity to unload any current receipts which were | not !{ull grase. The bulk of the demand 4 was for goods for storage, but consump- | tion demand also was fully maintained. | Low nm Prices on all grades of eggs at New | Jork sropred neany 1 cent oon ater || Tpip Rates To Baltimore covery occurred later, the quotations - Special $1.25 were still close to 1 cent below those of | the previous week. Price changes at | Week-End Every .. Saturday and other important distributing markets | were not so drastic as in New York. Receipts of poultry continued lighter | than a year ago, but were heavier than | for the previous week. Demand con- tinued exceptionally good at steady prices, especially for the better grades | Fickets good in coaches em all trains from Washington Saturday and Sunday. Good returning in ecoaches on any train Saturday or Sun- day to and including 11:03 of both live and dressed, while poorer | P. M. train Sunday night. light stock was draggy. 3 Special $1.50 Cattle Market Steady. Sharp price fluctuations featured | Three-Day Limit ©On sale every day. Good on trading in hogs, sheep and lambs dur- | ing the third week of June. Hog values | all trains. Good for return on previous fortnight having cleared the | | may el congestion in packer coolers and trade | The Postal Deficit By Hon. F. A. Tilton shot upward early in the w , but de- clined just as sharply later, under in- was placed in a better position to ab- | ° sorb mormal supplies without serious | oy o | Qhio Re Re Magazine fiuence of materially increased market- detriment to price | 00l sales was main- | at newsstands, and read ings attracted by the previous price bulge. Sheep and lambs dipped to new { The volume of i tained on about the same basis as the| The Man of the Month in Washington By George S. Carll Jow levels, although marketings were somewhat reduced. Considering supply | volume. the cattle market performed | creditably, the light slaughter of the Pettycoats Lead by 20,000 By A. H. Ulm The Price of Silence By Edith M. Hall Name a Man and Win a $5 Award Nation‘s Capital Magazine will pay you $5 if you will name the accept- able “Man of the Month in Washington” for the issue of August, 1931. Your se- lection must be mailed not .later’ than July 25th. Just write the name of your choice of the outstanding person in Washington during June and July, and send it to the Contest Editor. Nation’s Capital Magazine will also print the names of the ten best selections, and name the persons who have selected them. Buy a copy of WNation’s Capital and other features Tune in WOL Every Wednesday Evening, 7 O’Clock SUBSCRIPTION COUPON The Nation's Capital Magazine, National Press Building, Washington, D. C. Enclosed find $2.00 for one year's subscription. NAME .... ADDREBS 1iuvasetsesnnssessssastsnnsssnnsssctsssisssnrastsssiinien THE EVENING :STAR, 'WASHINGTON, ‘D.:C., WEDNESDAY, JUNE 24 1931. EXCHANGE METHODS ASSAILED BY JUDGE Press. BOSTON, June 24.—The methods of the New York Stock Exchange were as- sailed here yesterday by Federal Judge Willlam Clark of New Jersey, who said that unless brokers ceased ' extending credit to customers “Government inter- ference will see that it does.” Judge Clark, who .came into’ wide t- the eigh the = Thirty-fitth Annual He followed William 8. Muller, p.esi- !dent of the New York Curb Exchange; was | by who had asserted that “nationalistic interference in the orderly process of. 1 supply and demand in the world com- modity markets is perhaps one of the outstanding causes” of world-wide de- Judge Clark declared the Stock Ex- change was unwilling to reform itself. He wfly advocated that it com- a rs to refer their customers to g:ull when seeking “ecredit. He criti-. \cized low standards of conduct by busi- ness men. and said it was surprising the amount of asse! come into on of *“ swindlers, ussing cases before his court, he said 80 per cent of the money taken embezzlers had been used on the New York Btock Exchange. He sted that the Stock Ex- change might well advocate legislation along the lines which the American Medical Association proposes to adopt, 80 that it might guarantee issues offered The New: Model 70" . Baby" Grand - 7.Tube ' Superheterodyne, Complete With Tubes, Including New Pentode Power Tube, Sold with 7 Philco Balanced Tubes the public. The medical assoclation s considering putting its seal of approval on certain health products after it was found that they meet its standard of excellence. . R Consolidated Gas of BaltimoFe. BALTIMO! June 24 (Special).— Gross operating revenue and net reve- nue of the ted Electric Light & Power Co. of Baltimore for the five months ended May 31 was above the total for the corresponding period of 1930 despite s decline in aggregate sales of gas and electricity. Maintenance of earnings above last year’s level was attributed to an in- crease in domestic gas and electric con- sumption, which in turn was ly due to greater sales of gas and elsctric consuming appliances, it was stated. Sales of gas and electric consuming merchandise by the company for the initial five months of 1931 were con- siderably above the 1930 period. Liberal Allowances on All Old Radios Evenings Until 9 P.M. . LUMBER TRADE IS HIT BY RUSSIAN COMPETITIQN By the Associated Press. tries are coal, oil and timber. He said overproduction and unfair competition from Russia were the main flls of tim- ber, while in coal it is the huge and uncontrolled overcapacity to produce rather than overproduction. In ofl, he said, it is both overcapac~ Contol Dossioe Hireugh the' i, Tinca e throu e es through which most 'of the ptnlda _ofl must be marketed, together with a cer- tain amount of pace-setting leadership which is absent in coal and Jumber. Government sanction to reasonatle trade agreements for putting lumber luction under contrcl is advocated Compton for his own industry, as well as protection against Russian im- “There should be established,” he says, “through some agency or commis- sion established by the Government, the mnthull&:e-m of public and private co-opera for timber conservatioh, improvement in wood utilization, en- couraging productive use of forest land, alding stabilization of the forest indus- tries, ting the security of profit- able employment and facilitating co-op- among the States, the owners of timber properties and th: Government. —_— FREIGHT LOADINGS. By the Associated Press. | Revenue freight loadings for the week ending June 13 were announced | by the American Rallway Association a5 732,453 cars, | This was a decrease of 28,437 cars | below the preceding week and a de- crease of 193,613 cars below the cor- responding week a year ago. Miscellaneous freight taled 294619, cars below the correspon 1930; grain and grain pr decrease 8,008; cars, decrease decrease, 34,819; 218,710, decrease, 24,335: decrease, 28,715; coke, 5, 3,920; livestock, 18,0 FURNITURE RENTING BAUM FOR OPENING 'DISPLAY Model 112 Lowboy 11-Tube Superhetero- dyne-Plus, Complete With Tubes Designed by Norman Bel Geddes, sremier creator of fine furniture, and executed in American Black Walnut and matched Butt Walnut; hand- rubbed finish. Instrument panel in ed Black Walnut, framed in “V"-matched Oriental wood. 4-point tone control. Automatic volume control. Oversize electro-dynamic speaker. Station recording dial, Long distance switch. Two 45 Power Tubes. Push-pull $5 Delivers It! Balanced Unit Superheterodyne ADIOS by Washington’s LARGEST Philco Dealer!! (\NCE AGAIN, GEORGE'’S leads the town in announcing this NEW PHILCO line of sterling radio values! Super-tuning, super-selectivity, super-service, as only PHILCO can offer! The radio that swept aside all competition at the na- tional radio shows is here, on.display, at GEORGE'S! EVERY PHILCO is a.superheterodyne . . . every set is a balanced unit , . , - every set is priced complete with tubes . . . every set is the last word in furniture designs . . . every set offers the greatest value the radio public has yet known. That is why we are so enthusiastic about them! GEORGE’S RADIO makes it easy and simple for you to own the BEST! We offer the most liberal allowance on your old set in the city . . . arrange terms to suit YOUR individual condenience and requirements . . . and allow you a LONG time to pay! See the New PHILCO display at GEORGE'’S before you make ANY radio decision, or phone us for a representative to call! ENJOY MUSIC IN YOUR CAR WITH A PHILCO TRANSITONE Installed, Complete, by Experts, $99.80 RADIOY CO. - 2139-41 Penna. Ave. N.W. Telephone West 2968 @) 0% $1 Service Charge TR b Anywhere in the City loadings to- & decrease of 71,797 r ding week oducts, 3 forest produc ore, merchandise, coal,. 106,403, 462, decrease, decrease, 2,555. 19.464; OFFILE NITURE