Evening Star Newspaper, September 8, 1931, Page 12

CHINA WHEAT SALE pendent _of Heavy offerings in the face of con- | from Kansas Northward. The crop has tinental trade restrictions carried Oc-| made generally favorable progress tober futures at Liverpool to within 1 | Missouri, the Ohio Valley and the more cent of the record low established in| Eastern districts. August. Prices of native wheats de- d France. Marketings showed a further reduc- tion last week with primary receipts ith high nnm{touung only 1,616,000 bushels com- | clined in ()l’l'l’nll":ryl unw European countries have dp:ne everything possible to in- | pared with 4,199,000 during lh‘ cor- | crease the acreage of wheat to make | responding week last year. themselves self-supporting and inde- | oS S poTng ootz theie | DISTRIBUTION OF RAYON latter show_evi The movement is slow be- STAR, WASIIINGTON, * HIGHER U. . TAXES SEENASTRADENEE Private Forecasts vl the ins. Trade Point to Market | “Fchuding Russia and - China, the trade estimates the world's wheat sup- | says, would indicate & normal reserve e at the end of the season if acreage re- s : duction continues. Much the same A“f ":‘_‘fl‘ T,,Kq",:,fl‘:‘:& condition obtained in 1894 and a few SRR | years later there was much agitation It previously expressed trade opinions about a possible world shortage of hold good, the Government's sale of wheat. 15,000,000 bushels of wheat to China on| , The e P long time credit might be expected to | {CLPN,(Che ™ There undoubtedly will Ev\gl;::nx(l:ufi-:fife'gr:(&fl.‘.&,f the NEW | 1o "3 reduction in the Spring Wheat drop in the bucket” but sufficient to "l'k:.Fre is a_ private estimate that i acreage. n the i cause farmers are reluctant to change | By the Assoctated Press. | ply this year to be 160,000,000 bushels | Improvement. | Fess “Ehan astyear. ~‘That figure, it/ PRODUCTS IS ANALYZED Moody Believes World Recov- ery Demands Increase The countrles of northern South g America—Colombia, Venezuela, British in Levies. Guiana, French Guiana and Dutch Guiana—provide an outlet for about | $500,000 of United States rayon snd SPecialDispatch toThe Star. rayon products each year. NEW YORK, September 8. —High Domestic shipments to this territory | Federal taxes are the inevitable price increased from $419.000 in 1927 10 |the United States must pay if it is to $590,000 in 1928. A slight decline Was | 004 the way to world recovery, it was experienced in 1929, when the value dropped to $545,000, and in 1930 the | declared by John Moody, president of effect of general adverse business con- | Moody's Investors' Service, in a state- ditions occasioned a decline of $286,000, | ment issued today. No solid basis for trade figures of the Government show. | enduring prosperity can be built with- Hosfery is the leading item in this |out relieving the burden of inter- D. C. TUESDAY, and because we possess the greatest sin- gl‘e market for commodities and services the world. These essential steps, the financier asserts, will involve at Jeast a temporary sacrifice, which must be paid for in part with increased Federal revenues from taxation, but which will reap their re- ward in improved conditions both in this country and abroad. U. 8. Fortunate. “The people of the United States have been fortunate in being able to escape from a heavy tax burden comparable to that in some European countries since the war,” he sald. “Post-war conditions have contributed to a high degree of Pmspemy in this country during the ast 10 years, which, in turn, made - sible both reductions in Federal tax- ation and the retirement of a consider- able portion of the public debt out of annual surpluses. There are several good reasons, however, to belleve that this exceptionally happy period has reached its conclusion. “War debts and tariffs stand as bar- riers which must be demolished, at least in part, before a concerted movement can lead to lasting stability. Our own duty in this regard is greater than that SEPTEMBER 8, 1931. claims or else reduce our tariff. Per- | Federal haps we must do both.” Whether debts are reduced or the |5} tariff pared, Mr. Moody points out that the people of the United States must shoulder a certain amount of temporary . Its temporary character, he is insured by the fact that the benefits to world trade should ly redound to the increased wellbeing of this country. 1 taxation. 1f the tariff were reduced it would take the form of some ressure on manufacturing costs, in- Fire Damages Store. Fire in the unoccupied upper floor cluding wages. But probably neither | of these two burdens would be carrisq |01 15 P street last night sbout 11 v;:y {:,r'hln? therefore it seems likely | 0'Clock claimed the attention of the that both solutions would be sought at | Fire Department. Firemen su the same time, to a moderate extent.” conflmnp;{he blaze to the uvvcecrmmedié: By of the building, but were unable to pre- R : vent water damage to the stock in the Buttonhole badges and medallions to | grocery store of Prederick Duckett on be atts the lower floor. Origin of sttached to cars are being presented | 108 S0 foor gin of the fire was u;o-‘;h; m‘;m}f}: :‘e' :Véf;fg;ggdl:; by the Vienna Automobile Ciub to in debt payments from abroad, it would | metorists who drive 5, 10 or 15 year™| pinland will reduce government ex. amount to 8 corresponding increase in without an accident or fine. & penditures. ——e— 7he Horse—not the Harness relieve the farm board of part of its|, oo hels of wheat, or about | trade. Woven and knit dress and piece | governmental debts and excessive tariffs, heavy storage costs, give work to the ! oo f,;‘z-“?g,,{’“f,f:he current_domestic | goods trade is also popular, - There is. |3ar. Moody believes, and he places thé | of any other nation. ‘I order to en- ; ivesty © | Bowever. very little demand for rayon | responsibility for s primarily | able our debtors to continu crop, will be fed to livestock com = | ne. Tnited States because of our | of their depic we el hove. cebmr s unemployed in grinding some of it into flour and start the machinery rolling ok 2320.000,000 to 140,000,000 | yarn owing to the limited development Efi‘..E:’:Z,s““;n 1,\2'eér. O he Csame " source | of the textile industry in these countries. | position as the largest creditor nation |renounce the right to part of our toward reduction of smb‘;hz;(i]nn SE](_\;‘IKS to around 100,000,000 bushels. at = ; t| OXpects Canada to feed about 25.000.- amount, the trade says, might be ab- | 556"y snels compared with 14,000,000 ?i‘éfi?%ahipfi‘:ge?”fo“f‘n&"s‘é’;;u?f. i 182k Syeanacd 6,000,000 bushels nor- mally. Private forecasts, prior to the deal were for higher domestic prices as & EPIICRCIN Corn markets made s further ad- Sag In Futures. vance of 2 to 3 cents & bushel, in- The sag in futures was ascribed to fluenced by private estimates of a crop slow export demand for the large stocks | 40,000,000 to 50.000.000 bushels smaller in surplus areas and continued heavy than the Government's August 1 fore- offerings from Russia, Soviet ship- cast of 2775000000 bushels. Some | ments during August have been esti- | improvement in shipping demand was Tated at 22,500,000 bushels against a strengthening influence. Jess than 8,000,000 bushels for the Marked deterioration is said to have| same month last year. It is indicated occurred in Western and Northwestern | the cargoes have been destined princi- | parts of the corn belt. including Michi- | pally for the United Kingdom and Italy. ' gan, Wisconsin, Minnesota, Towa and Advance In Corn. OIL BURNER MANUFACTURED—SOLD—INSTALLED Oil Delivered . . . 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