| OCR Text |
Show , - 44 L I - , TILE ,D.ES ER ET NEWS News - -- Special , , S DECE),113ER 19'27 '31;:,;- - Business Financial, Yearly . SATURDAY p Review t , - , SOUNDNESS' FOR 192 SHOWS. BASIC ,,.. commopiTy-ANALYSI- , Year Just Closing Marks One of the Most Remarkable Years in Nation's Financial Histor NEW INDUSTRIES COME r !PATTI TO FRONT DURING 927. ONLY FEW. DARK, SP.O.:i St .'ljtil-11I El Various Commodities by Expert Review Indicates New High Level; for Business Which Should Continue improvement. ,1 Of 40 - . ' Brief iBusidess Cop)right, LI. s I - Curb Market Has Best Year in 1927 Aeroplanes. y ta ht A h thud It ner. tot. iter. and ool as on na ;11Y got. H 1 la I le - the.labor sat More trimly stior consumed in marhinery bought during 19ll7 res.tiltel in the release of 101.0etli the United tztates in 1927 than tit sny nerant workers from the harvest The year of the countrys history'.' main- manufaeturers of th- ' The use of thee labor eat ing- o.rodoein IshiCh eater to the sseet tooth of Americ& reported profits machinery units in Poniv iinginr from 7 to 19 per cent :n epitt thr coet of the crop in bell. exe.ss of for those the previous units searee4 :0i)M0g) Tractor sales Year. This was due not only to th.! increase in population in the United 'states and to the Impeovol welAutomobiles. ting methods and heightened deThere wee a sliarp line of mand. hut ittso to the stendinoss markation in the aqtomobile of the sugar and chocolate marlieteeen those Coniparik.S kets. hich did well in 1927 and those The baking companies profit-which did riot. Mere tier. five from the same giLIPsfal trenils great automobile companies whici through the remarkahle popularity had a successful year. General Mo- of the ;meet cakes and crackers tors. now the leader of the indus- whih they produced. The braisual weather condition7c try in point of 'tie awl production. had the most remarkable )ear of climb existed in many sections of te career. There were at .least four the had a detrimental efother concern which did splendid- fect imumry on 9ce Cream sales. o1 ly. Then followed a number The soft drink manedarturing lu- corporations which had fair prof- eleistry prospered remarkaidy. One it& but the net income of which ginger aleconcern showed an fell materially below the level- of creasy of over 50 per cent In prot1928. At the tail of the procession on; as ccmpared with the precious came a still larger number of com- year. while others reported gains panies which had disastrous years.. from II percent up. ranging Competition was extremely seChewing gum consumption convere. There la every Indication that tinued on the total production of ,.passenger-automobilesthUt year ill fall at least I Conned Goods. , 2001,000 short of the Cgures tot 1928 which approximate 4000,000 The cauning iniiwtry is in a tea'. carsand trucks This is not sur- I ter situation today than it was a that the is realized when it prising stia Ford company was out of produc- Iyiar ago but that sitdation something to be dead-ee- l tion for eight approximately the'lndustrI-in months.-'- ' Ileares the factonsbusinem wound tool canning Exports of automobiles durin-- t an with extraordinarily, the year have run over 35,000 carry-ove- r. lt west not umil ahead of the total for 192.8. when ;ate In 1!427 that !his burden w..ts 22K.440 weTe sent abroad. the :lick of the in- -' from removed There seems little question that As a consetuenc.,. reports the Ford activity in the early dustryii all the leading canning-centermonths of 1928 will mean a big in,- from indicate that the 1S27 pack of crease In automobile production-- It fruits and vegptab!cs hail been hr.. will also mean I decided tighten ThiS will tend. UM, low .n0r111HI ing of the lined of competition and. doubtedly. to straighten out 'the consequence. there are many of of the indin47.7. the weaker companies which are t,chnical eittiation Throughout nimit of the year eori-- . towards possible longingly looking keen dwing petitim mergers or consolidations. the heavy Stocks ori handiThis One of the features of the sales to in a resulted technics! posiaton eampaign'of the year eCal the pop- fairly low leVPI of 'prices througncollateand roadster of the tfin Oularity ear although tin. out most of ibis coupe types and the indicatioa t.roveatent .made itself felt as the 'drew to a close. tunnal period The industtT was affected to i certain extent, by the extraordinsr, iiy high price of tin which bad its bearing on the cost of contain-Tie- s ire a in - e. 11, I- A As raw a a at r an 2de. ' Oek on teas Good Increase Buying Power potter inertill.W41 throughout the lear. This ha large port to the nag doe Improved position Of the fartrivs The tillers of the soil received 117,20.000.ogoo more for their produeta then to thern in DX. in uddition. they had paid off tad debts and had a larger balanne to devote to puretooe of commodities tong needed and devired. The farm dollar the got hack to a parity nith firv4 tadustrial th,litar for the C. date More the !star.---J. v price of sugar wan faorable for the (inners durmg the year. Buy irar "a a ROY. hut in many sections the fruit crons were not such ait to yield (be an pent any extraorditattry .profits. The swept potato output again showed a remarkable increase-- but pears. apples and peaches. orarrges. grapefruit and, lemons all showed deeliness at Compared With the .. - pre' ... ceding year.: ., ' 1 , The cement Industry wound tila its year working at only hoot Vi not per rent of capacity. This es Oa Pate. (CouLinued I . .. Cement. Four' ' . .. - - with-causin- - ' 444, , . BY CHARLES F. SPEARL. Even Corporation Heads (Copyright, 1927. by The Deseret News.) NEW YORK, Pee. 31.The twelve months. Just clos- 'Fail to Twig :Trend -mark the climax of one of the Most remarkable pen- I ing T o u g n I ods-i- financial Correctly; history. The momentum that gathered Year i for Bears. ! headway in i 1925 and 'was S7tro-nill 1924 carried business along through the first half of:1927 and is still having its t ,r - : I - $- ,- -- - Vy fiLtiolzGE I 1,t:ii,r:ght T. Nevs.) effevt. tirkillES.. tie Speettial,ve tostkvts atwa),1 distance hapPenings in the Intmercial and industrial world, with prices for stoeks digeounting the improvement In trade at one Om, and a reaction an it at another. This they have derie to ieN3 tiffTit during Ill:I than ordinarily, as the Influence of a great abundance er caldtal at low interest rates has the statistical records of productton and earnings. The money t1fT1031013 haS Massa an intlairtaat Part In ail stock market tnoyenieuts during arid the influence It alit Lase1.;, on the 'ince average next Sear makes it more difficult than ever to road the future eurrectiy The deveopmenis that are like ly Pi May an important putt in del'erminttig the course of tvusintiss an't of securties in 194$ are: intense, competimm in pearly an .of 1110 lemling Intilkitriei and an unstable prfce tituat:Ort, the uncertainty as to ctmlidaits for th,:i niesidener; the Volume of gold tile posit:on of the farmer; rallroaid consolidations; foreign and foreign competi.borroaing Aniertean ntanufactur- the li,isto 'proportion of bank toona made op recurititoi as nett az4 the high ratio of icank invest-tnen!i; In zilOW moving bonds; tile d'n'an4 r''T "n'e iar'" relmtbili finallv. the political ati4 ecanI omic conditions . in t:ermanyi I Yranee. Italy and tioatitefistetu , t1.4A:- Deseret. More 3 Million Share Days in 4, : r'. I SI i bh ge e. Grain Farmer Satisfied With Profit Of Y27 To Plant More 3,7M1-00- t- . e 1 A s; 1 ' , t fi-- . 1 three-fantli- s 1 alya . d, 1 i - t e' 1 hs rea-g- It e- - pro-per- il. - - 1 al - I . - ' l lis 1111,:!,,-;1- 'ar ,, I . ' 1214 IA - s- NX pre-Ith- t It 1- 1:Orpo-iatio- ' a ,.. 1 pi-h- I -- long-tim- t steck-mark- l sun-pos- 1 rhei 1 1 C . ; e 1 t mmet -: b-- 1 , d- 1 at , rne.-e.se- or a. . iht 1 k t . Bad Year for Coat and Oi , 1 : .. I,34b e i it Ti3artlap&CO e it -- x 4,t 1) Ct . and t' ' N.f , . , tpi . . , likok cs 4 . ., , , i "- I r. , - . - 1Aill . invoised the expenditure of over ilea4t(1,000.000. lorelgn trade rew sleuth!) and stained a favorable balance of trade as against, an nufastirahle one in 1026. 'the year- tailed with a revord burst of holiday buying. Itepnris front basic indiisiries give, every indiestinn that will continue into lagb azol' possibly throughout the, first half of that year. Inditetrial production Is rishig instead of falling as ails the MSC a year aLo. Alter nest June, the vventher and the presidential election will become factors In the situation bat. businctta in general VI "tell prepetred to meet anY.coutingeney; I ; ." NEW TOP,K, Dec,. more ' Iears. of hard times, the tattle.1 'than one respect this stock' market 1927 indurtrY earns back into Us ow n Lt 19.77 was the must reinarkahie during the past twelve months.; in the history of the NPw l'Ork This 'furnished the feature of the l 'the. NeO. lorli Mork Ex. Stack Exehange. It E,''t up a new listoek markets and did much to eloatire Inn brighten the prof it and loss- state- Precord far the numb : throe :high million sluire.tlays its 'tient western.farthers Oil. 4, volo-! traded in on any, are single 1927on Isties .1'4 the Wine time sheep helpe4 non shares chaneett hands. !day. It saw stuck out by returning Fa tisfactory ptieesi tool ton Iter. 3 'then the total isell for mare than i310.900 for produçers But in the corn; Pas 3.063.000 shares.. This 'something that never happened belt. the hog rising indnsiry surbrifitr4 the total tot three ont., It was a time of intense atprised by its- poor showing. lion share Mos to ten. The and turn1artt4 tivity uniformly stand for pork tireverl light ai.4 over throughout the yea:-- . ant .figreate,1 trading boom in his. soppliee 'were larger 'than expected. tory isortirrett on March 2. nally it was a period of persistentiy so that approSimately a thiny per I V26. u hen mica rising quotations. cent decline in values resulted. The year was replete with inPere recorded. With SS rent corn, it trecarne 111Tio-teresting incidents. pr.fita ble to feed cheap porkers. & the Lake,. Erie tovriér Wheeling It the relatively high price:o-niento,nel of dm g the small in February. the break that Pilcorn follosing the Period of exontts out of box!nee& loried President do Caolidge.s 'OW tremely prices. that is errAnot choose- -. announcement; the ekCommodity Prase, Decline. fled it drop in feedcited spel'ulation that 1Pv tel ing operations. This indicates that' Except for the prices of farm irdtc--thFords Henry there May be light supplies of products, the year hsci been 0.1,4e Cr field of active motor car Livestock for another year. s Good Average Price While iokt, and many Morita' eventsprAnetdeclining commodity quotations- v. midi Larger Crop Bz-4The average in the limt Itdif et oau.ed violent awing a one ay or Secretary Jardine's Summary. 15 Itt27 Is as at the liiwett in two Corn Cents; Up Another. Crop The of frakme Bumper the real I whole situation is surnmad . The )(am,- This tendency ass as preVegr. hower-r- . NVIS not the hreadqi Is up by William le. Jardine. zecr6- Jardine nounesid in toircs of Europe as it Optimistic. or the activity of the market its of agricuiture, He says: tary vas in the United States. In the reaction ti) any iwerftet veteli-Good conditions prevail in tho first quarter of the second talt of oemt. It was the market's asitnindcattle and abeep Industries, a The that agrieulture has bad geed ing l's4:, commodities retie quite sharp,. (;E011til.; U. CIINACkta, average price of elonghter- steers Mit taterty they bare' be'n het !Awls Moderate. chicaeo is proximately P.t.501 oplright 192; hy The De5eret regained nom rining has sioaiy t. ceding as the Market W.., There were ',Jacks from thiie the lewng per hundred rsaunds over a tietti et f ...gaton and gram have at,, it, Dec:mbrr 3 I.The tereer lest by its products in tie, to time sot has A, ;0. been the ago. This is an advance of a beet -)qi!toil thetnsrives to Abe tInal 2Zi. per cent. Cattlemen are eptinh. ;Train fame'. 1,,ols.ing back icoQr pest war decline." he explains. men case in advancing piarlettc, UM of the year's crops. ure, itc.iit tic and are -reetoeking their ranges. 1927, has felt ,. well sati.fied with fewer acres and vith a letrill pepu- they were of surprisingly We are probably in a long prritil I'silm ditration. Time and again it wou'd 3.000,tmo4 hes tlinn inAccordirr4:0- marigetine of cattle 'aqua hp', of obtained tient he tailing results commodity prites Th.s the I lie has been ess than last- year- - This agricultural industry eine. look as though "the his.,k of the EurOtre. one of the unfavorable aspects et a 1123 has averaged a larger produc- bull market had heen hrol.ea" but year s incomes. Crone- cattle sales crops that he plane to 'Aura 1921 Trade. Volume'Llettines :h.. bus,ness situation. invariably it Wag an illusion. The 1 will therefore riet record the fell much larger Acreage tor the corn nod- than lip the years immediateFor the present the position of The peak or prefluelien follow..., ly following the war. The farmer market ativays came hack and the improvement made in the eituation, I ing ) ear. farmer-I- s than It the -is solvent's siaiunincreased state resumed. rrhap efficiency. ing the through ails rCat.,hed In El.--, 1,,,at for severalbetter notwithatandingahe last that auch i ,.'r l'es-of Wiii A.. offsetting. rti s ti,t, tv )P9I-Fat der a dif177?-rnin some AlthOt,g'l in i'lliiaid! degree were-a;"hut, leadersitij. ineomes will be unusually saris.i 11,1". aTi lt.8711 hat beert app4rent11 cotton the Mill tie letis thaa high. crops Ihasen't least, the effect , of unfavorable resumed. This characttchtic was (.4. xery katooaetnry martins or factory. ari, onshfer that they the growers ,3,0(3t,,,,,,, 1:.1 ,,,),,,ti,,r,r1 well ict 1.,,,;,,. too predobtinarit the profit on industrial turnover. In up priees. "Although the rearliCt price of IlaVt. 1160 006 lisle,. planteu Onfalvorable wsatilet end. 'wit IProfitable. to1.11Py lambe ateree4 sonvesbat ;1'c:re': iK)i rii.;rt.iiii ' 11.1t per- vent target t 4,1;,slidii;..5:,,,,,,itt,T,t.,,,11,38fliwili:s';',:iiintt and the season cern peusatirin for It was the .usual planting er thin year than- it did iu Isecitat to inter a- a, brat than a delayed y market rhisanclo f atarted minder diecouraging contittrslat lof major linesiof trade. the sheep ttebletry ntt a whole price a slaw tins loss in A higher : pia. thine-and bumper plats says,. ncw aria he t!i I and of of Slnin 'production lyear ' them highe." reoes,-loInnintt In ,gried to pricet:, isearing shape., Sticepmen ns veiling from It to 15 vents was estimated on ere of stocks thit simply sold I Thlti has' been crop The -of principal wheat the south- grOuets have in. tton est and generally cotispicuou.s to growers emetober 1 at one per evnt 010 r higher than at anY time ear!fre litt24. so returns north a est and the corn steel. . "From the etandpoint of prices, ICornsatisfactorY exespt on feed- the ' five the last the a h lon t doting land year, aerage e t taii..rf reba . Sistur4IPPI tit gotolly proporgrea year has been One of great. the swine industry eneountered Aiiii oats haft, eare anti only one per vent below tion of them to livestock. marked new sdai.s for the small pinducer, F;1 tI'ktrs 4,4" ''''''''it 11"-seunfaretrahle cond.tions ing 111'.3 latively the center of a bull mosTraria iscn tor of time. all tilstatire, only three. Iinade9nately r ecting,pd -this year.,soltheugh neither produe- with tittles seven th eight cents pp., t ehntid4at yield this- 3'ear aim. In the cern bee. predum lion of U. General Hon not...market supplies V,OrO O- ,os-eprodurdion or the Inerrrime. have been,,oble to tscy last sear. lateutions to.plaiit ruin is la per rent greater than Atchison, S. Steel all distinguished thomsolies large Xce.Five valr,l'Af", tn.eils4it''9 veil nfr Od Ift,g prieeg doelined, ap- i Point to inereased acreage of both last x ear, although one per r,mt in this respect during 1?27. There as formanotacturing lite i,tniiii merchant ,alit and bigur,es awl ito:reae their psoximatelv- $3.1..1 per loo peunde. lot thrse crops in 19:!fi Ile. fim P. 'tar tia. t.11;e. Tht nnro iwOrt. beton of others ard broiled crebit a ho endeavored to hatili account.. Tlieir status today- The, decline eesnetcd primarily, Put CVett ilt that. c..flin litiA beep heat leltArstesees115 the norill'e there Sere that mot,' ',rm..' . compete with the effiileoitv I h'-on the ern eau of the water are thinking Irrq c4.S',..I' from tii.ii-!,,- s Witt anti true,. to AM,strri, ,harp curtailment in the I romparaii, tread. they a,re esi- ag0,1 Chaitl litore and malt pritrri;e:t ther I:"' trouiites than tor it, :Loa fereign demand for.Anierisan- poik poarst at Trade. The pries ratigt all. of Clie prin.; 12rAl area, ieentiottei and seldom for ealtsd Conc,rit- The narrow for titi bad it gime,' ti v are not so political- rnnit rcla I mortal- - i 7. hij- and pork products." er. Tale ,g amine, voninient. bag 14..11 rather is it 11 sensanot tang iiy hii tiptip 1,10, I, akitt,e as they aers a year or en ann,nr. period awl wtriter wheat together the Reduction in Cattle pin Peed Non.ttefore discussing the a ith small resioniceo, and itIno,e This will te of fillPortsnen in tional to divert the trade or in- couttlyy .has harcestm.it Ile largest, around will;, ir thrs adof phenoniskil contintio In he mi daring the ISliiS preishletaial e crease dealings. exept for a int?! erop hInco 19,!:.1. heat pi oda:lion, vance in Mocks, the present conditione etimpatga; of 1"1i''''iln of Pr'"Iu'Arr41 dicala a further deerease in feed- spurt in corn oatly to the stint. in eetimated 82. $ :,;.op jolt,' pueef.mg, Tmo virus of Ili21 retails. iiiittook ap. eompared with .g3a.o,1.0v4 bilehels etincerned, the Investment et meat e"ag distributing erganizations in I. Int: for tho cern belt. A moderate mer ',hen lb. crop an that played 'prominent a pstt. tfits rountly. An umistimals late In a TINA.f.'ring the ginodion vi hetIi- i ; inerease In cattle numbers on let,t1 posred dark. year anti a Pie year average It may lies in eroded' to Far a Isw situation, of Ans el.lemammt bushels." 1:.:1 has been a year of prose treitt of the liassouri river. where and mild fall saved a the ler in words from the Corporations l'0,1iinn strictlyStrong 54 cent spectlative about Ls drop in thirtv-eigh- l the hest in :veers. laitbrrought the corn crop iew point. A market whieh etra.y.Perit),It is necessary to view pri-sis 3.lc to the world in. of toteleal the only and prices. review heavy is offset noire by necesary tliO; berity from two angles On th i d so prolonged and uniform an records-- of ror this crop )emir. or advancc the railroads for the I. oe .1.1.- - we rnust deal reduetien of cattle On feed in 11with the re- Trades Concerned Over Polities. IWheat . wouhl rcationahly le ss- tast three months to re,,tlize hom4'eults of betehels larger than Central and ett.tern coin belt esaeliAlties to be ono in whivh slimed This period of Tact is Catts.411; Naturally prices reflect- ators and traders littanbtAspetAtt- toPnounced 'kali 13,Pfql the reaction idates. The supply of calves at concern resseal, in terintc of dollars rsr and le atto the trade in business. car loadings in the ,',..'iaris, earned on stocks: on the oth this Situation. 700.900." fell 44,900 below last That at teriAt be profits. causes tributed to tat or three represent. conditionsi in iise with the aserage earnings p.tr year's figure Bumper' Canadian COO. the conclusion of the tintsiiirr. Is alecreg4te theeati of pialtical Ied practically all lines of trade as At the opeqing of the year trad- Foremost is the of the great arnsy of work-we- ll has e led been iseeve to always that for tuna as Canada through-thSleNaryinterference. as in particularly the OfThogs. a e for ers looked shortage s in stocks and those hose in- which would disrupt ate in producing another bumper rising 'reat commodities. movement of bulk .;,'ers in industry but the run shows an Increase of liauglbn bill.trade. cornea are derived from varit too ) speculatnra. In pa such ha; dna, 'crop desotte time late start of the agains.for As an evidence et the prosper- - forms of about 400.istin more than last year's speculativeoutsiders This belief aervages waft d.. affected !season. The .yield is set'att 414,- but only ity of earlier and years. when large i The conspicuoue prosperity et tetal Of 7100,000., The supply of couraged dealers who hesitate 000.000 bueliels compared with in part. Statistics on the subject Aurplus reserves were built up. e sheep amd lambs. dropped about professional are hut it obviously commitments. unobtairtablei make to 343.000.000 bushel last year. This lis doubtful whether there hay. been few corporations I ;othrp....rontretiorinceadaduorittigouthre esgoamrttanrdrialni 490.0:000 the average compelled the boom on the wheat in in titrect competition to reduce or pass their i with Wall street trader made The supply of cattle for the Then therk.ts which attracthas 1.,1ory hag been the usual 1111,:01trf, or dividends this year in spite of un- - chosen that from the United State, and like the amount he would anything year totalled tsbut 3.090.0410 went Ashich once be ed natiomal for 'determining speculation nag weighed somewhat beaVily on The 2505009 under a year ago. The faet into satisfactory emnP-earnings. to in make are a market of the tion is in Such prosperity has grain. Besides this there yrosperityi the oil trade. !Ire the' 'iceen prices. that the ..total supply of western kind the the believe , who trailers that the past basic year many factor in arousing experienced. full cfte,1 of marly a year of over- range cattle dropped nearly 11.0.000at Canadian heat 'pool now is done . Deselle the big world !.istid. hew. As a tilatIcr Air fact, sonie unand broadening security rnarl.ets. In the last two yvars. standing in that ever traders coneider 0110 present fortunates bed no profits at all production 'wrid kow tielltog, price: it 1.,,,ty be saiil that markets the world Mating th.s fornt t;f ito maxim-tintNet r II0.006 for the present period grain. And tlint individuals are elate will be fairly Kahle. The ,snd a good many had large losses. . has not the miii-- speca nil ,r buyer has been satistimet to pAy It Is human nature to brag about income of 'refining and producinit j ofrospertiv.,i against more than 270.000 in in their efforts to anhandieaptied two file and that its inflipenc-pre...Mt prices. wag another factor of iniportance. ticitsit price riosements. lie has ablemrbwil ,ulle:ILUtnninrn but to wav nothing companies will be nearly 50 per, ffecet is tho e", 0 t id psyebilogicul 09 bushels estoretwheP dur- :about the: other Cattio furniehed the 5ear's feabelotpothat ef ilt.gt One large operator recently want And 3et ev- cent of all. There are too 'n914 to Pion StterS fed up choice nonamniei le' ture. ei:th hate r";""tl Itte..f.ret five months of this :ery custom:tea Man In the street to thist ing he deferre,II thereafter Planning ge'ing I'reve at the highest since 191e, at $19 on tho trangfor his activate', from ntaking partienis to silistehoph.rsirnanY year.ithan daring the ram. ,could tell stories of clients to whom whteh an unsatiefartory year sales at I.) corn, which ems naive of ot fin- crop they bad exte,ted to not owe .1917 uas open market: ale course het Period in 192g. And last year's ex- tI had been a disastrouto year. ween. a of tlatto far ,ec t,uo few.and are to make at th e fieg.nning of thin price good corporatitn 111.1iV market. tio ex ilained that ports vs'ere the largest on reaortl, Many Guessed Wrong. tret they indleate the relatively high , Comparatively tow of the wealtert-P- r the tlinailian pool now ,1 a ii a mein- - totaling approximately 812,iten.$04 , Let us see how this are About. combination. hove "eatly inceeob..1 There are. of coar se. notable ex- of the market. on the LIVPT1.00l market , bushele. ,m.. iseship ContinuousleIn in the ed the first phiee the average tiroautomobile trait., in Steers Gained prior, their distributions to share- - ceptions and that it now is dangerous for fessional speculator was p3olglettl holders. An analy.is Pr:cos of ete-rgained centimi- altV trailer in wheat to take-t 0,, tr,tallthe net earnings of chain son..,. eseatly E . uropean Demand Es.. :about the market fully half tha uf ditidends and tniere,..t. to- distributors. food .. peeled. tednational whet. Busty from month to moth throngh rideit stand on the market The more eweilence he hart the year. Best heavy isteerg went thia agency might damp wheneset honever. te14!F the fac,titl"cco.produet companies, the oeh look for a strady ml,- - tjiip Exportele 1Vall bad in Street to 12.'S:Ii In January with thie it more ift the till:ites most a or that and market vf tU fit skeptisupport the PI mend of- our wheat for that pur- cal he was. The .0ensidere4 high at the tine-thwas the result of ta3ments !en Aislidted this vie hale I at its whim. tialt . This helm the situation for that even when heernintill,q1r0storks The beet in' January since ti seore of tdrit-ibought whreal. triduistri.s lettfillig t;ce1t..4 twit! Situation Bettri,h. Ipoise. American farmer, as every that subsenuently sold much higher. than increased nest month prices reeebed $13,13 pArtenta on !rod ineotne in the tmst fi nine inent's in the worll with the ex- er he 'never waited for the and they kpt no going until Ile the 19.:g Tt situation has been The world In this conlie,'Cott ice large from eert ranged per in fteeemher. rather bearish in wheat and as a ception of Australia. liss produced profit he might have- - seeured hot t he 3 ea es WW1 tonehed early aixottia ty of receditig nearly SO pet cent titvin that Lack of quality slopped' .ttle high result prices paid American farm-er- a a larger crop- this year than last. took a few points when he and thp tartz-p- l trade same volume of in T11;,!. I"' 13:3. ;the period meprice grradeg at that point. butKnitt1r thiti yeac't twocluet were Lettet reports from the soutitern have had ten. Worse yet. he allow- new stacks and bonds ever ert it, 4; dium and plainer k.nde still five tn nine cents tinder a year I hemisphere indicate that Australia ed himself t5 be frightened out of for expansion purposes is present.; On (Continued Page Four) ed. Late in the tivonth. though: ago.. Nevertheless. they were tAir- will have about 40.000.000 bushels big commitment and took an entirefor export compared with abmiut ly unneeesmary los., on a minor rethere wasia hill and sonte sagging ly profitable. New 441eisay.1 I in lertrtS. littatteing Operations 110.009.0(P0 bushels exported last action. Secretary et Accicuiture Then there were these that The trade hi cans and helfere M. Jantin Iii faa, ,is ontimistb- )ear. Latest figures Omer that the About 4 per rPTIt nt the s,.:rralso ehowed well during the year; emer the outlonn .i'alnfronting the ."pktted the short side." They did gate of ftt,riAta.atM.090 new ree.irat ell late in farmer and Pt the not 1,eltey'o in the inarliet and they Mos was ahemrtsoi chciiee cons in time feels (Continued on l'age Four) hi refittutio; acted arcordingly. Not, all of them ithe year, while Vie general run of American by operations corporabelfere were 'et $e to $14; Choice WE,fp timall fry. either. There sere ;. tions. and in loans to foreign much of the time Calves Nvertt plenty of that kind. for the technlii Muidi of the hurt tatc., takL'o to 25, per Another cern, I of short selling la better understood len light supplies and were going 'en out of the Mous dealt fit FARS IN 111,41,NIFS the' requtrenzent, i wax- before and reproiumted ever at Ill 10 MAO bite in the year. it today than flood and droutle he the depublic 'utilities, which hate! the Moll- - of the beat known "bear" ths termination and hittit bitAnc-- s 'Unprofitable for Flog Balser. In recent years and his expinits continued to enjoy prosperity inittst" of industrial reaction. of the inhabitants of the courage At the start of this year. moat along that line la known by heart whiie lo per rent has been employ-- 1 1 he eeleiehM 1 affected Rut natraders looloed lereard to a short- I to th frequenters of every board eel intro. file found an unguarded railroads whose condi-- 1 by age el hoge with price high. Hitt room. But h!g men" made mis1 , so , in while as and not of threw the 1" run to tuiening good tions, insteadof thie the hogs takes and costly ones also. , tru.tInto limit:41r). into conin- -' have been highly satisfactory market Inereased at the same time Pat Itlestbeto Lain, sod Escliamto Atock Mialmir A tool Million Dollar Loser. 1,10n and detiresSion by a terhave 'warranted thm in that demand was elnekening. As a Just to mention a ease or two ing for the enlargement of theirrt rific. iniume of orroit oil 'wiconeemience the .year. hag been a Utah Mines Industrials tilmikni hi the !..witoittole and facilities, r:ter: father unprofitable onp for the beg known to the neraonally, As tothe retnalmar. it is goiter ralsor. l'or,4 Texas fields. It sas a There was one millionaire Who sent 4 a bitil year for coal and .0. tir, There were One or Imo spurts down from his aummer camp in the Prt.habl. that itarge 4151 Wasatch PhonesWasatch 1153, it lzas reeveused abwut to ,been the one i ellen former bring of to Adirondacks year during priees the Itergesi being affected fel the I .1y vans ered some of the lest ground. hut larzcst strike abicti mat t'.itA honking houses in the tStlert ask- IOU et prO.itueitig week-enmore inodern rnachinety and oththe market sagged agam toward the. Salt Lake City, Utah. 4 ing them tn and up a. appearance during the 'ear. iStock Exchange Building. er no to date equipment. all of C. itoyie. hien has bad the offect .alpove ..B.,;,,,e3..ta.&.2.haf.e.t.ibtao.,a 1Continued on Pas luta), (Coininued on Paso Four) , , . - ISpeculative Markets Out - Distance Happenings; Situation Plays Leading Part in. Money , '''1703- - All Stoek Markets. 1JUI1 111 - ..,, - 1 11413uit nun pito-tam- i.ttindardif labor.contresersies were fest; Wages and lit remained employment stasalitiOst as heath' as in the pre1 itni lieur and buying twiner Itailroads had a gond 'car lett led a reenrd breaking one, Therc was a .n.aable trend tonard eonstilidations and mergers, especially alumna the inotts luntlwr cumpanksi. auto ttttt bile terns. steel mills, ttublic wilily cottontail iiii s and railroads.- Ottal of of life Maumee bruin. all rteords ulth a was tudise at fair prices. Build. ilea' elate diesin.00.t.O4a. i T4 1:g a .Nincteest TO NEW HIGH LEVELS I I Pros-per- tly The Nett lurk Curb Mar Lel before in the peace time year The, 'bairns arcaite-- 4 )ear in 11027. remarkable performances of Amer- inorratied it) huge ,ataTrading teen aviators, fanned interOSt andlnine and the majority of liaura enthusiasm of the public ITt comdealt in tilioned ale4asatial inercial aviation to fever heat. Th;s, The ollaa Isere price arlaance interest has not as yet had time t die lintwirlatit only fully translate itself- into orders for The price 01 earl) e Amount. the aeroplane manufacturers- aIiw shUhtr.1 ra.ina development 'Must wilit'en the In a high mark ad Jig Nan, pension of commtycial lines slot C. Heffernan. Mann the training of.lhougands of additional pilot; Tiie government still and best custom- of a trend tte,k theartle the 01.t is the main-staer of the aeroplane producers. The aru Army and Navy flying services eapendel nearly .8100000f,000 in the Brickt. last year in reorganization. The The tif y Glum tot builiiing glue or aeroplanes and equipment. h was maintaiti.produced this year will approach coruurnetion Pd ithrt).10SOUt the entire year of I50.000.e4,0. itAll aided materially, in stabilizing production and prirea ofbsick Agricultur al Equipment. as sell as other building nu4 1 helot. the manufa;- The Most prominent axricultural turers Consequently, had a satisfactory year al- -, dmplement coneerns declare that though prices were not such as to not only was 1127 the year On catise any wide enthusiasm among reeerd for them, but that the are fulls ter 11'23. broducers Conbum Mien Atirick of sal pes- -, Production'echedules are now prohaps blight;:y .of that of ceeding on the latter tuteumption. there sits tighter .com-- 1 Stocks on band with dealers and InG, butand petition' profit margins show-- , In warehouses have been materially ed no advances and in some gases beiessersed and gains in sales of slightly. Prices through-tween 25 and 35 NT cent have lowered out the year averaged apprwiiteen recorded in the late months tor niately $14.0i per thousand of the yeal; 10110Wing thtqati plow- eommort building hr.k. or about ing season; I. cents a thousand higher than The outatanding feature of the for the previods year.' There waa inrreate 'ear was thelremendotteharte-tcmore than attfiAntid.floa face slightly r combined demand for jt trick fired waa Employment thrashers Tractor sales gained EAady throughout the industry steadily as did those for two and , four for eultivators. corn binders nfections. and similar labor saving' machinee pros-rec- i IS - 19241 ' 1"?i'Tify215''AP?IlIEHSETRREADDE . by The Dextret :Sea& 111.:1, SIOCK 1927 of sionderful )ear but not quite inent).srlen eau count of use record breal.ing melte ttiontiti. tit 11121. ultimo s it. were narrower, than ewer before and It vies tenopetitinit was more btil mill efficiency of mem, management, and material's tilikli reduervi t4e.1 to a point vi here ;walls santt . into living. There --were few fluctuating's itk cimintodity prices. t the financially unlit tell by the staelde. Centsrres Many not adequately financed totind II bard going, oil. eloil'pinit and snow 'other tines of endeavor shamed extertne- delireesion, tint levier ..autittedrlea 'nem hi abadnay than J. C. BOYLE. , o (Copyright,1927: by The Deseret Neus) !Sheep Also Help BrightThe foundation of all business, industrial and cominer-- 1 en- - Profit , Loss Sheets cial, a.ctivities is forrd by. the basic 'com modities of the I Of , WesZern nation. Businessmen. including both employers and ern-- 1 F..armers; ployes (for the modern employe is a business .man today in Swine Prices Off. the truest sense of the word) can onlY determine. how to I plan and build their 1928 business structure by determining ; what stress and strain can be placed on the commodity foun-- 1 iv 1... e. Gitt:xpi,..t.A.Nh dation& The following analyses of the chief commodities will (Cvoritibt '& 11 by The pehert ' x""''' show the strength and weakness of the basic masonry: cificAGo, neeemtwr 31,AI-1eAs America's greatest fiYing ye;r viösed, practically all or the aeroere plane factories or America. busier than they have ever been.. 1101-LE- of bit,iness nos as large but pro; . BY Broadeasts BY J. C. Att , . . - flAms Igo lis . : IIIA 4i S ' ' , . .. , I ,, 1 . L , , , . . , , . r' - "P?O' :tr ''..1 I |
