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Show , - - . , , . Page, :Ile . , , , . - Deseret News, Salt. Lake City, Utah '. - r He Forecasts Economy Talk Will Be All Just Talk , are usually "in the Itnow' here in Washington are convinced that the 1940 will be brief, routine, and uneventful. There will be no new reform legislation. In fact, If any new laws Are ground out of the legisla ' five mill, they will be in the direction of amend- I ing reform bills already on the booksnotably the Wagner Labor Act, The spotlight will be 7 ,: f ss . - - L. 1 - - N- I '0 0119g g nerol, ASOO Newspapers Back Hoover's Appeal ror Aid To Finns LOS , izations - the "Small Business' conven- tion two years back, there has been a good deal of sympathy in Washington for the Objective of this bM. Those who make it their business to know what's what in Congress say the Mead bill will be either passed or put Over wail 1941: -- -It will not- be, killed. All in all, the session will be a rather humdrum affair. The war, , of course, will call for some stir. ring speeches of the ., variety for The Neutrality Act consumption. will not be shuffled again. However, the only of real battle that I possibility earl foresee now is a surPrise Presi. dential proposal for economy. The president would make this move purely as a buckvassing gesture. Congress would restore any cuts in expenses that he would ask for and, hence, Congress would take the rap ut - mid-I94- . . "Jor 'B oPpOsiTig,7-gc,011glAr.t- 4 the eighth unbridled public spending byyear an which Was origin- on an economy form. Many will remember plat. Can-- I didate Roosevelt's stirring speech at Pittsburgh in 1932:,"Many a nal tion bas been wrecked on rocks of loose fiscal poltry; we Must avoid that danger!'" That eatFididate, at president. has spent S50,-000,000,000 and has collected 330 000,000,000 in taxes. This haSaaglakt his "economy" 'administration a net deficit of $20,000,000.000 as Its Contribution in piloting us off the 1 shoals, - of financial disaster. , ' -- ' ' . I TIN ORE IMPORTS Imports of tin ore (concentrate) iluring October contained 155 tons': of tin according to the Departs ment Of Commerce. The luantity,L imported was valued at $135,647.1 Imports in the first ten monthsi totaled. 206. tons, tin- Content. ' sub-norm- STOCKHOLM, Dec. Sweden extended her mine fields today.to waters off Oregrun,Sil miles north of Stockholm, making it necessary for- vessels plylng the channel opposite the Aland islands into the Gulf of Bothnia to use Swedish pilots. The mines, extending those laid earlier opposite the Alands, are "to facilitate active Swedish neutrality," a government communique said. The Finns previously had mined the channel on the Finnish side of the Aland& 0 Watching the Finnish-Russiawar with grave contern, Sweden looked with more optimisim to the reopening of trade negotiations with Germany at Berlin Monday. These were interrupted as a result of German minelaying activities near Swedish wa- ters. "We are hopeful now that we can come to some artangement," said an informant close to the government. mates as low as 136.000,000 bush. els prove correct. With a Dec. 31 carryover of 70.000,000bushels. Argentine would have only slightly more than 200,000,000 bushels to Talk of the formation of a national government- to include all continued- but obstacles were said to have arisen. There were differences over the insistence of some elements that Swe den take a stronger stand on behalf of Finland. The question of 9.(AP) hostilities meet home requirements half that large and provide a surplus for reserve and export. This means exports in 1940 could not approach the 1939 figure which already is in excess of 160,000,000 bushels. Recognition of a change in world conditions caused wheat prices this week to stage their strongest advance since the first days of the European war and- - prices reached the highest levels in more-thatwo years. Before the opening today wheat was 37,4i to 514 cents higher than a aveek ago. to Ti cents. oats 'Corn gained to and rye 4 to cents during the week. while soy With naval and blockades on all sides, the Scan. Despite the absence of the cos, dinavian Countries felt the pinch tomary copper .statistics it is enof war today as Finland defied tirely evident. that domestic de,Russia's blockade of her coasts. liveries are running at extraThe Russian blockade "lacks ordinarily heavy tonnageclose both legal and practical stern!. to the previous record level, if icance." Finland declared. Finn- not setting a new record. Fitch ish circles pointed out the Gulf Investors Service reports. o r'llb tfiltIA"It et treterFinbarirVarldpit4b--Sweden had already been dos. sion in the past few months could ad to the Soviet fleet by mines mean only that refined stocks and fortifications on the Aaland ..,have beenredueed to an extreme-- . Islands. level low at producing plants. ly However, reports from Stock. In fact. the substantial increasa holm indicated at least two in domestic shipments (luring the or more Russian sub arines' Ivere summer, as well as in exporis, opera tin in the B o thman gulf began to cut producers' stocks at The Russian blockade brought that time.a new menace to hard pressed The foreign. situatlion, On the Swedish thiDlping' Stekhc)Im is other hand. is far more obscure. almost In brief. production and conR us- sian hasps in Estonia and the of copper in the world sumption Gulf of Riga. outside of the United States were ,.. Danish and trade fairly evenly balanced from--Thorwegian also felt the effects of the Rus beginning of the year to the end sian move. Until now they have of July, when statistics last For more than two enjoyed a measure of freedom In their Baltic operations. years foreign copper had hem Scandinavian shipping baq Moving at the average rate of a suffered severely from the allied little over- 100,000 a month;- the .bilockade of Germany. hest level ever attained. Foreign .Buying Resumed 'Unbreakable rubber automoWith the outbreak Of war.. Gerbile license tags with metal' figmany, 'Minding territory 'Teemtirea'rhave been invented in Ger; i. IY acquired, was automatically from the- world market. While many. ., . - ditlitw 41,Lr;40.171M I till: II rittli'4 ,AgilThlits, AF kdAba.).1ASOHO 1918 1917 .... The value of merchandise ported fromthe United States In September, the first month of the European war, rose to the highest level since January 1938, the Reich may get some copper from nearby countries. its absence as one of the leading buyers in western European markeu makes a serious deficiency in the outlets for producers in Africa. Canada and Latin America. Great Britain is taking nearly all against-82,1100,0- 00 Septern- - ber-last-year,--- Despite this increase, foreign countries found-n- o itifficulty financing their purchases of first American goods. la the place, they shippel $181,000,000 worth of merchandise to this country. These hhipinents were considerably larger than in Augin September last year. ust-or Although imports of merchandis.e into the United States in September failed by $108,000,000 to pay for exports from this country, the difference was more than offset by foreign shipments of gold and silver to the United States. Shipments of gold' and silver September amounted to $3290 000000. This made it possible for foreign countries not only to 0r their larger purchases pa3r-1goods, but also to add to their supply of funus in the United States which they have been accumulating since of American 1933. 1 an importer). This busines probably has greatly diminished. if not removed, the threat of im-- , ports into the United States. While the high degree of mechanization of armies means great dependence on copper, there is yet no parallel Nv it h the boom demand el the Werld War. Then the greatest need for copper was In connection withammunition. because of terrific artillery duels,' hut now such activity is noted for Its small scale. So long as this prevails- and -- - ' hisweekmines cuflailedoutgroups Incidentally, the rally in Composite le eeteim'Yih. Cotton Mfg. the mid-wee- sec: levels for week. offered to the New securities yes. public during the week ended terday totaled $73,433,839,- Poor's Publising Company reported today. It was the largest amount since the week ended August 17. The financing was well diversified as funds were recruited for a wide varifty of industries, but 80 pee cent of the issues represented refuficling of existing debt rather than a demand for new reachedpre-wa- ond successive Trade Trends The Agriculture Department said today, this year's cotton crop was 11,792,000 bales of 500 pounds gross weight. Production was forecast a month ago at 11.845,000 bales. Production was 11,943,000 bales last year, 18,- - in 1937, and the for the 10 years, 800.000 bales. 1928-37- , average was 13,- . central Europe is out of the world ket. it appeari.. that,, producers 192:141, 121.t31 81.4 114.9 119.9 26.5 71.3 75.5 971 g y Saltsofcommonlead were in volume during the week, transactions involving 7,425 tons, against. 5,618 tons in the previous f E ( good week, and 6,822 tons two weeks ago. trade believes actual consump,T,htion of lead is being maintained at around 50,000 tons per month, and shipments for November are estiindi4 mated around 60,000 tons, eating another substantial reduction in refined stocks. A shipment of lead and zinc con. centrates from Argentina is expect. en to arrive in New Orleans this week. Treatment of the lead concen. will be trate, about 4,500 tons, made at the Hurculancum shelter of the St. Joseph Lead Company. The quotation remained firm at also-o- f 5.50., New York, which was the contract settling basis the American Smelting & Refining Company; and at 5.35c., St. Louis. lo '- . - - Price Decline Upsets Zinc Mart The zinc industry was upset on news that a fair quantity of Prime Western sold.oil Dec. 1 on the basis of 6c., St. Louis, a reduction of one. half cent. Sales were booked at the new level on each of the succeeding days of the week that end. ed yesterday. Most producers con. tinued to quote 614c., but we learn. ed of no transactiOns for domestic account at the top figure. Those who held to the old quotation did so because they believed that the offerings at Cc may soon be absorbed. Large importations of ore finally caused sortie shippers of domestic Concentrate' to market their product in quantity. With buying of metal on the slow side. the pressure on custom smelters increased and resulted In the f cent reduction in the price. Sales by the Prime Western division for the week ended Dec. 2 1 - li; 1 ' . ine4..rsoppar..41elim... In fact, zinc ship1937 figures, ments in September and October broke all previous monthly rec- conservative estimate of domestic copper shipments on this basis means close to 100,000 tons a month. Domestic production of copper earlier in 1939 ran around 60,000 tons a month: Recently .expatision donbtless has lagged behlnd shipments.. In July, 1936, deliveries hegan to rise from the same, level as this July, yet It took on 1 1 one-hal- Detroit -- 1 4 1 a i i prosperous Christmas shopping I season, aided by reduction in jobin public , less and impsovernent purchasing power &all around. reBradstreet Dun , However, ported Christmas shopping was getWASHINGTON, Dec. in start a slow many place ting and its power in some stores." the mercantile plant have Dam been barred to close-- a agency- added, "sift articles in the class were inspection by visitors as pre. luxury and against foreign sabotage said to be selling at the best pace, caution h. and possible danger to sight. since 1929." seers. Announcement of a $20,000,000 John Page; reclamation- - comconstruction program by Union issued an oraer missioner,Electric Light Co. of Missouri supforbidding visitors from ported other indications 1940 may see the iargest spending for irri going closer than Boulder power indus- mile to the project at provements by the o ' City, Nev. try since 1930. he "we "Chiefly," said, 1940 business proswant Discussions. of to keep the tourists out of danpects in the annual Congress of idea but the of ger. Sabotage is American. Industry, sponsored by a factor. Since we handled 600.. the National Association of Manuat Boulder Dam this facturers, brought forecasts of a 000 tourists I k first half year, we decided it wise to tight. moderate decline in the some--em-- - e' of the t's nomists and Industrialists. In the same order, be Others emphasized war could imof all but government boats rated a secondary factor in the restricted in the area near provement in recent months and were said chances production would the dam on Lake Mead, which Is 0 hold at a relatively high level for directly back of it. Insome time to come were good. -their dustrial leaders 'renewed' Of fight for freedom of private en- Daily Sales of govterprise, and modification Milk 1Jp.3 Per ernment business regulations: Visitors Barred From Boulder Dam a . I' one-quart- til May, 1937, to turn producers' stocks away from a nose dive, due to the fact that it requires as much as three months from the time copper ore is blasted in the mine until it is ready for delivery in refined forms. - Although production and the piing -current rapid rise were on about the same level as at the beginn ing of the acceleration of three years ago, there is one safety factor in stocks. The quantity of refined in producers' hands at was half again as " largt as in 1936. In any estimate of stocks, domestic exports have to be considered, but as they are now unknown, generalizations arepossible. However, it is believed stocks STEEL AT 92.8 PER CENT have not yet fallen as low as in The operating rale of the steel 1937, when they dipped to about of this country for the industry one month's supply. In that cycle week Dec. 4 was estithe price went from- - 9.50 to 17 mated beginning 92.8 per cent ol capacity, at cents and back. in the pre94.4 per eeht Moreover. it looks as if consump- - against, than had approximately reached ceding week. its peak, at least for the time beBombproof paint that Is resisting. If utility companies should ant to incendiary chemicals has greatly increase their facilities been invented in England. next, year while other industries held their current- - pace,, tbere A mounting for polarizing for .cameras has been probably IA ould be a further slow use. in to adjust them accurately. copper expansion saen4-4--a4-- i semi-luxur- y y cries a year ago of nearly 70.000. The peak shipments of a year ago occurred as the climax of a strong market and probably were well above. attual, consumption. Similarly. it is probable that October ,shipmrnt4 jumped above the indicated'84,000 tons of mill cOn-- . sumption. Shipments of copper, lead and zinc seldom deviate from a close parallel, Recent domestic lead and zinc shipments exceeded ail A 128.7 131.2 - Pennsylvania anthracite produc- r ers, who shared in the September-Octobebuying wave, were forced to curtail working schedules further to reduce coal stocks above The unsold surplus was ground. attribted partly to slow demand for fuel during the recent stretch of mild weather. Wall Street security markets bea rise in gan- to pay attention to in grain and cotton prices. Wheat the Chicago grain pit, moving with a higher world trend in basis farm of a staples and on indications as result of 'small winter crop Automobileplant production this 41routhin this country., expanded amountedto 1,686 torisagainst 2,- Y week will --total 115,488--ttnits its gains In the last fortnight-It- De- 410 tons in the preceding week. cording to Ward's automotive re- about The 10 cents a bushel. Anil Silver Was ports. Last week's assemblies were cember contract approximated $1, Ag5in Quiet Very 93,638. .A.,year ago this week the since During the past week, the silver the volume reached 100,705 ears and touching 1937. highest price market in London was quiet, and October, trucks. The upturn in most stocks was steady. Indian bazaars were buy. This week's output was termed small, with the market generally era, and - speculators occasionally the best since July,. 1937. still hugging the narrow range it sold. The survey said that many com- has occupied The New York Official has re. since the early Sepmained unchanged at 3434c., and panies still are "far behind retail tember war rise. orders" and added that indications Merchants Hopeful the United States Government price total of 450,000 assem- Of Yule Shopping id also unchanged at 35c. point te-of blies during December. Merchants remained hopeful - in October was 84,000 tons, ords. 124.8 135.0 1940. C u U. S. Stocks outside of the United States can readily meet consumption outside of this country. In though unof- ficial quarters, it is estimated that the copper content of products shipped from domestic mills 0n-9- 11.ntriO3117-5a4O , Washington JUST 6,800 YEARS x Year ago Prey. Wk. Wk. record-breakin- ' money. Lat. - Factory production during November, as shown by federal reserve board figures, reached the statistical equivalent of they best month of 1929. The board's seasonally adjusted index of production reached 125 the 1929 peak. Statisticians pointedout, however, that the index makes no allowance for increased population and factory capacity during the last decade. tLie I- Steel makers, after leading the! in- rapid autumn advance in 'heavy dustries, slowed the production pace a little. Trade authorities said, however, the in- of dustry still had large reserves ofr unfilled orders and prospects level staying at a high operating come.. for several months- to ' Leveling' Off SitSeen By Many Many business observers thought they detected signs of a general levelling off in the recovery push. impetus which got its greatest ,from a September war buying wave. The "Iron Age" said a decline .in new steel orders was noticable caa but added majorsold-o-producers'delivon pacity was well eries in the first three months of 945,022 r .... ( H ) p. 71. 1H intiPar Eleetrie power use Residential Bldg. Total earloaetings:...2,:, 01)-1- 939 high. stock market this is one of those economic surprises that bear watching. The market has refused to countenance the recovery very far; now maybe it will disdain the decline. figures. ca levels as 100, ,onlatest 1929-3- compared as follows: Retail trade in the United States advanced this week on a national basis, Dun & Bradstreet saicLtoday in a weekly survey, despite spotty regional reports. Turnover for the period was es5 to 12 per- - cent ahead timated of a year ago. "Buying was sporadic, according to merchants' reports," the review said, "and actual trends difficult to determine because of variations from day to day and among different departments.The log Jam in public offerings of new securities appeared definitely broken today as new issues based, rotated on -oput. ;:ed Stocks Boom So Perhaps Ann, just to complete the bearfarm nutlook is ish, picture,."-thhave chastening. Hog prices five-yea low and dropped to cattle prices also are weak. New York 4144r44.1--.1- the first two months of the war there Was little evidence of purchasing by the: rest of Europe. and this must have been adverse or some of the African and,South More reAmerican producers. cently-, however. substantial business is.under(tood to' have'beeti done with France, Italy and Rus-.sia (the latter being ordinarily .situation to the Alexan- according der Hamilton Institute. Exports amodnted to $289,000,000 in Sepin tember August and $246,000,000 in With new buying of zinc on a - reduced scale. And the movement of concentrate to smelters Increas. ing,' one producer lowered the )ne.half of Western Prime price cent. This development came sO0nxpected er than most producers and caused a little nervousness in , metals. CPPPer other and lead continued firm. Tin was quiet and the price eased moderately. Quicksilver was advanced . $12 a flask by the foreign producers, which caused a flurry in or the domestic market Sales of "Red Metal" Advanced , On Dec. 1 the American Brass Company advanced its base prices Imi most copper and brass products cent. This was due to an adjustment made necessary by usual, higheraperating costs.---A- s the move brought in a fair volume of new business, which was larger promptly translated into sales of copper to fabricators. Do- . 't mestic sales of topper for the week amounted to 14,022 tons, against 50 181 tong in the precedingIWeek. The position of the copper market, remained virtually unchanged, producers holding to the. 1234c., Val. ley, quotation. The spot situation - ' Ii is not quite so tight as it was a few weeks back. Productionat the mines has been increased appreciably. The gain in output is expected to exert an in. fluence on the market soon after tilt turn of the year. Domestic sales for November to taled :51,592 tons, whictrIcompares -with 67,075 tons a month previous. The export market showed some irregularity during the last week. Prompt and near-bcopper for ex. 1. port sold at prices ranging from 12.900c. to 13.000c., Las Atlantic ports. On February forwardI it was possible to shade 12.900e. Lead Moves In Improved Volume one-quart- n t o i um non-ferro- , 51-- 0-- 8 20 to 30 cents. .. ' MORE STOCKHOLDERS The total number of stockholdGeneral Electric has 159 em- - ers of General Electric on Novemployes who are still working at ber 24 was 209,735, an inctease of Schenectady and have been with 1742 over the total- on December W. the company at least 40 years. The 2. 108, according- to W. corn Trench secretary of the gained total service of these mert sents 6800 years with the company. pany. 5-- 8 3-- thet more dominant.' For the good newsthe gains in mann- facturers:, sales, in dividends, in earningswill be ancient EW YORK, Dec. 9(AP)The torL Does Steel Rate m:tor industry, slow on the pick- " Reflect The' Treed ap iii recent months, Stee: (arnong other indicators) the final stretch of 1939 at high this week' provided a foretaste speed this week and swept the of Things tocome.-- . Production business curve up .to a .t dropped 1.6 points. from 94.4 per --9241 per cent. :Teak-- ex- There was the customary shut down for several Chrysler, planation of- a declibe from a weeks in the After running at dispute, finally got its assembly high 'rate. into high gear. Trade esti- ,i breakneck speed around sev- - lines of capacity for more ' mates showed Chrysler assembled than two months,, - furnaces had nearly 20,000 units against less to be relined or equi- pment had7 Total motor assemblies, trade ob- to be repaired. ex- - servers reported, jumped to 115,But,. explanation rr 310 from 93,638 the previous iteek planation, the fact is that ingot 488 100,705 in the comparable 1938 production did drbpi that mills and out- no longer respondel to a ,press week. December automobile of business; that steel men felt put was expected to be the second in history for the month; Justified in taking time out for The tempo in Detroit and or- because repairsundoubtedly motor centers overshadowed ders have been i'alling"off, be. other a from the autumn's war- cause production has been out- of produc- stimulated because tion in steel expancion , stripping consumption, Coal and Slack in and g There- has linneed- new itiost fields.- ;to keep up the high rate of out- - Activities Highest --- put. ., since Fall Of 1939 Lumber is going through a The Associated Press industrial kindted experience. Orders spurt- - activity index jumped to the high- ad sharply immediately, after est since November, 1929, despite the vat started, but now tricorn- - moderate setbacks in steel and car- in' g business has fallen behind loadings.' With few interruptions, both production and shipments. this measure of production has In anthracite, too, there has been climbing since last May. been an accumulation of stocks, with componentt The index, - - 7 ' i; Huge, Copper Shipments '''' - .. a o n 0 ncy Version Of 1939 But 1940 will see ,,or - 1 il ba-yin- 0 . - Metals eIsn Good bilibined---linto----- ex- d. flag-wavin- g 1; Itaised By Wa r all-tim- e -- e Fabricators Purchase Trade Level1 Of1929' - U. S. Exports 'poorest wheat crop prospect in years in the western hemisphere,where- most of the world's surplus grain is produced, today promised to relieve the glut of international supplies in 1940. Preliminary estimates Indicated that the Argentine and United States surpluses. may be reduced more- - than 100,000,000 bushedswithin the next year. Some grain interests believe the peak of large world wheat stocks will have been when carryovpass'ed by record of 'er may reach an 1,400,000,000 bushels. Government figures Indicated 1939-4world wheat production bushels, may total 4,287,000,000 about 300,000,000 below the record crop of the previous season. Since these figures were compiled. how, ever, reports of serious reductions in crop possibilities in Argentina, coupled with the drought in the American southwest and moisture conditions over much of the spring wheat areas of the United States and Canada, have caused some traders to believe world figures should be lowered. Even so. because of Increased carryover stocks, prospective world season are supplies for the 1939-4estimated about 290,000,000 bushels more than for the preceding year. Recent estimates of U. S. winter wheat production early next summer have been below 400,000,000 'bushels, compared with 550,000,000 the season just ended. Traders said that if spring Wheat production is average. total domestic harvest may be approximately 100,000,000 bushels below annual consumption. To meet this deficiency the nation could draw upon an estimated car 1 of 225,000,000 ryover next-Julybushels, which would leave slightly less than normal "safe" carryover a year hence. However, because lexports now are running smaller than expected, the carryover next July 1 may be larger than 225,000,- 000 bushels. The Argentine crop now being harvested may be the smallest in 22 years, if latest esti- whether Foreign Minister RichCommission in Belgium, said he ard J. Sandler should be retainwag "tremendously encouraged and by the ed wag another issue. by the response. ' speed with which collection of SCIENTIST ILL the fund can be accomplished." "We have high hopes," he said, TUSKEGEE, Ma., Dec. 9.- -"that we shall be in a position (AP)Dr. George Washington to start actual purchases and dis- Carver, the noted negro scientist, patching of cargoes within a few WaS reported seriously ill today. iends said the health of the days, for the need is immediate and urgent." aged Tuskegee Institute research wa s undermined by- a Mr. Hoover made his fund col -,lection proposal in a message to ,lk, cent trip to New York, where 'rt'IV:ITceived the Roosevelt science American newspaper editors yes-- , -- awavil.-an- d a subsequent speakterday. tohr ing through the midwest. Scandnavians Itaril "tit By New.Blockade -" COPENHAGDeC. ri - Dec. - - , - today. Z.' 1111111111MM A10140 4k.AMAJA&Ootp I,e ' Poor Crop Helps:Wheat - Since , 9.--- (AP) telegrams received at the former presiden't hotel suite here and at headquarters of the fund, in New 'York City, were espenses frommore than 100 metropolitan newspapers and from many publishers in mailer offering to act as ag encies for contributions. Mis. Hoover, Who was chair- man of the nor ld W ar B elief still-bor- -- . Among . .. ANGELES-Dec- Herbert Hoover's appeal for relief fund support drew strong support from newpapers and from various organ. . back-hom- - e - - Potato Prices In Same Period Sea 31ine Fields other angles, the curFrom rent situation Is tinted favorably, the more encouraging factors be. ing the moderate improvement in prices for all refined products that has been registered since Sept. 1, the recent acceleration of demann for fuel oil and lubricating oils and the fact that the total of crude oil stocks above ground is now the lowest since 1922. ' -- '22 ' S., 191411111 , JOIdAbi.4,1 ' 914 Sweden Extends Sie ail U. 1 rd 111U11 III . t- thdo 1'7 h ex-pa- y - Awato Meafity coo P60 , IIIIIIIIllhlIIIHI1IlIIIlIHIJIIIJiI - 14" t tollIM111111111111111111111111111111 18-a- -- -- i01111111111111111111111111111111111111l Outlook Crud e Stock 191V Ivy I ' tdecrease I. 111111111111111111111111111111111111111 hydro-electri- number of relief, applicants today is the largest on record. Moreover, , with 1940 being en election year, io, for farm appropriations to top this year's record payments. Hence, fiscal experts estimate a to tal of about $9,000,000,000 will be dipped out of the till next year, while receipts will roll up close to , $7,000,000,000. It wili be a new high- water mark for federal spending , almost double the total of the de- pression years. t This means the country will go Into 'the red to the tune of $2,M0,000,000' or more. In addition to taxes and expenses . another issue on the docket at Capitol Hill will be the Amendment of the Wegner Labor Act. This is strongly favored br popular opin- --- - Ion in many section as well as by industrialists. The constant and unnecessary labor friction under the Wagner Act' is getting on peo- pies' nerves. - The public is waking up to the fact that they pay the sbill for the support of these strikes. However, the labor bosses control a pretty solid block of votes. There- fore, some of the more politically- minded Congressmen will not want to do anything about the Wagner Act until the election is safely hurdled. - The Mead Bill --- --'Is A "Dark Korea A "dark horse" measure which is in for a lot of discussion is the Mead bill. This legislation is design. -- ed to set up credit machinery for small businesses which need new Small concerns find it al- capital. most impossible to secure the capi- tat they need for expansion our. poses. Many potential new Jobe are therefore, being Ever JIMAIOJOASONI 19141 '29 levels, s hydro-electri- The-outp- mm T ' - 1111111 JONAMJ,JAIONS JINAWJJAIONI ttI$ ei kiras - . JFMAI,JJASOSI 1111 Pork Chops During Last War at - II IIIIIMP MD , - Lasts Shadolvs On , 1,k 11,-- -- off-year-., a - 111!"71111RBP1,1P1,11- n- . mummummulimmopqop,,!110.1 X sales the W. A, time, Peh Company, a way for every employe NEW NORK. Dec. 9.From practical rOZY7t; Pres. C. 11...Sheaffers n- now to the end of the year, the 'nouncement of a greltly ,increas- business news willhave to have .- ed promsbartag paymenL', a good deal of sifting, says Bustshows an increase of 50 , This ness Week In he ,enelYele of the percent over the bonus payment business outlook today. in December, 1938. Each There will be items of distinct.- will receive 15 per rent of employe his pre. as such bullish Intonation, ly as vious six months earnings these: Paint sales 21: per 'cent against a bonus of 10 per cent ahead of last October Novem. 1938. The bonus for her dividends $150,090,000- ever will Christmas, be paid December 15 on earn1938; irporate earnings continue, for the six months ending to rise. But there will be infor. Imp November 30. mation of a beariah complexion, too. And it ,seems probable at Re-achethis juncture in business affairs ithat the bearish news will be . s!lt 1111111111111111111111111111111111111101,P, MAIMSON, , to 111111111111111111111111111111111111111111r1Or4' - , - , - v 111111111111111111111111111111111111111111111111111111f - ---- - - . and the focused on defense appropriations , I budget; but John Q. Citizen need not worry new taxes next var. There about paying any k ,, , bas been a lot- of talk In Administration eir, N cies recently about economies that will result ,. , In a slash in the nation's deficit for 1940. This Few people except mining t ' , know much about the Inno hope of nonsense. There is is sheer glneers r. -Nickel Co's mine 50 - ducing expenditures nexC-yeaThe only ques- ternational Miles south of Petsamo, and al. tion la how much the deficit wq be increasednot decreased! most on the Soviet border, which or enact new was leased from the Finnish govHistory shows that Congresses do not cut expenses ernment six years ago.- Interna5 the taxesespecially-In-electropresident yearsunless Atonal Nickel, In its last annual -has them report admitted---thitures in 1939 would run to $4. on this never prodded Congress' 300.000, part of which was being Why expect point in an used to build a smelting plant. and part to secure a great dam him to do so In an electionyear? c ' and power plant Talk ,Econemy so that coal need not be hauled All Pure Bunk , or from litSpitsbergen. England Here and there we may see a The report added ironically: tie paring down of budget esti unforesen windoW-dressinemergencies Barrinx mates purely for this mine and smelter, and the purposes No major amputations c power station. will are possible, however, with the en- Production.-o- f gasoline climbed come into production by the au. tire House and a third of the Sen- - to a new ' In facto high record of 12,189,000 tumn of 1940." ate courting Out I Turn Inns of the week the in in Nov, actual barrels ordinary savings any administrative expenses will be was followed by production of 12,- - Some Copper Too Finland's annual copper produc more than offset by the cost of put128,000 barrels in the week of Nov. tion of 12,000 tons (sold largely ting nearly 50,000 new civil cm 25. Fitch Investors' Service to copperiess Germany) is a ployes on the payrolls duringin-1939, of a tremendous- tnerease - - nocti,- - Stocks !gasoline,- - totIlled tempting supply... lense appropriations, The Amen- - 75,59'5,000 barrels as of the latter the remote Petsamo Mine is can people want to put themselves date, which compares with 69,483.- - pected to amount to 1,000,000 lbs. neither Hitler 000 barrels a year previous. And of nickel and 500,000 lbs. of cop-, In a position where them with refiners continuing to build per a month. .shove :nor Hirohito - 'can --' ' 2 suinmd. No modern war can be fought up supplies in anticipation Russia has deThis defense spending Is a boon of gasoline demand without nickel. in export expansion for the Administration. The coun- early In 1940, it is thought that to- - posits both in the neighboring try' has been getting fed up on tal gasoline stocks will amount to Murmansk region and in central WPA. Shifting the emphasis from between 00,000,000 and 95,000,000 Asia, but they are small and deraking leaves and digging ditches barrels by the end of March, a new velopment has been slow. Rus, to making airplanes and rigging sia also has copper. but producbattleships is good stuff politically. high. tion atilt falls far short of de. , Mr. Roosevelt has stated that de. Consumption nand Huge purchases have been , fenses will be upped $500,000,000 At Record Peak made in New York in the last In the 'next fiscal .year. You have Domestic gasoline consumption three months. read that he says it is up to the vote is still of record proportions and Possibly Russia intends to era whether or not they want, to for- - the month of December is it'these.strategia-material share for this in new taxes, or bor- pected to rise 5 per cent above a, hopes to get from Finland with row it. Washingtotl sees' nothing year ago, with an indicoted gain of the Germans. Rot observers in In thia talk. It is a about oil per cent for all of 1939, as both gerlin and Moscow are little ridiculous in view of the compared with 1938. over the material aid fact, that over $20,000,000,000 have. If the looked for increase in ex- - skeptical Stalin will grant Hitler as a been borrowed in seven years. port demand dote materialize there suit of the strange bargain they Look For New should be no difficulty in maintain- ; struck on Aug. 21. Record In Spending ing fair prices for gasoline, but if If the Current level of business disappointment develops along this continues next year. the picture line the huge supplies being carmay be brightened-by- -a lump in ried will probably weigh heavily but he price structure. .., . Good Timis Boost Zinc Cut Business Sheaffer Bonus Half Nelvs Takes sharp But Copper, 'Increase in to near an all Firm Sheaffer Lead-ArOn Airco ed one high employment' at materialized in .. COM 61 Itt4191 Moodly Moo to oho 111111111111111111111111111111111111111111111111111111111111 4 BY ROGER W. BABSON (Special Writer For The Deseret News) WASHINGTON, D. C., Dec. 9.Quarters which Awitage Ili IL NEW .1'014C, Dec. 9.Ameri. can observers in Moscow believe that the Soviets have definite economic as welt as strategic ob., jectives behind their Finnish pot. icy, uys Business Week today, In the case of Poland and the three Baltic states, Russia's main gains are strategic except for the oil wells acquired in southeast. ern Poland. - In Finland, there is Europe's richest copper mine. In addition to this, and he little country's lumber,- paper, and tax. tile, industries,- is the Petsamo nifkel deposit, now almost ready to- be exploited. , Nickel All Ripe - For Ruasia Picking - Saturday, DecemIer 9,1930' . , - Hiiindrum Invasion Coming Congress nd nd nd Held Economic No New Tayceg, But Insists That Babson'ScSessio-n''Fo- - ,, a : - NEW YORKDaily sales of fluid milk during continued their upwat d 3.19 per cut. same month a year ago to reports from leading In 136 markets to the dustry Foundation. In October daily totfled 6,634.943 quarts a if .. t:ereoOse I wtih 6.429,746, quart3 In 938. This is the eighth consectb tive month In which- - natIV Aver. age sales have increassd over the corresponding montbs, of 14.933. , , i l --i- i. 1 |