| Show -- i’ Jim SALT EXPERTS BLAME WARF’RANCE DRAINS FOR WHEAT SURPLUSBiR'ITISH-GOLD SUPPLYAWAY Acreage Patriotically Added to Increase Food Supply Retained After World Crisis Market) Analyslsts’ Planes Rush Yellow Metal July club composed of leading grain statisticians and crop exLoads to Paris perts of the country In a report tonight of its study of the Vaults world wheat situation blamed steadily Increasing supplies for marfive years and efforts to withhold the surplus from the ket for the present low prices (Continued from Pate One) CHICAGO r 26 (AP)— The Grain v requirements “This surplus represents the patriotic effort to stimulate wheat production In North America Argentina and Australia during the World war to fill the void left by the with drawal of Russia from the field of wor-Jsupply The acreage added In these countries for that purpose has been retained even after Russia returned to the position of the greatest wheat producer In the world and It is this excessive acreage coupled with above-normacre yields In the last few years that has produced the world surplus of wheat Rapid Five Year Increase "In the past five years world yearly wheat supplies have been more rapidly than could beIncreasing absorbed at prevailing prices In the first five ) years of the decade world available supplies averaged 3525000-00bushels yearly and consumption 3 220000000 bushels In the second half of the decade ) supplies averaged nearly 4000000000 bushels yearly and Consumption W d (1920-1925- It i 0 (1925-1930- 3550000- 000 VsiDone DD © un SaiD® s w Ur f V) r k You may beat the price comparisons in the advertising but you 15-1- pounds ($836366520) So great has been the lost of capital that the Bank of England has resorted to drastic means to discourage the outflow By means of an advance In the discount rate from 21-- 2 to 3 per cent the bank hoped to stem the tide This move however only served to Increase nervousness and the movement continued Now it is proposed that the rate be boosted to 8 per cent Various reasons have been advanced for the sudden withdrawal of credit One report that gained much credence was that French bankers had become nervous over the credit stability of Britain The rumor in- eluded a suggestion that England might ask a moratorium on its external debt if Germany declared one It was merely financial gossip without official confirmation “Hoarding” Chargee Fly In some circles It was even Inferred that the heavy withdrawal of French credits in London might have political significance Such argument has been advanced repeatedly In the recent past Another possible reason for the loss of gold by England is the acute business depression In that country which has necessitated settlements In gold Instead of goods More than 60 per cent of the world's monetary gold now Is held In the United States and France Neither country needs such large quantities for Its currencies and hardships have been worked on other countries suffering from a lack of the metal for the currency backing Monetary gold stocks In the United States now stand at $4951000000 while the Bank of France holdings amount to nearly half that Naturally both countries have been accused of “hoarding” the metal BERLIN Jhly 26 (TV-the of a picturesque restaurant overlooking the Wannsee popular lake playground of Berlin Secretary of State Henry L Stimson and Am- bassador Frederic M Sackett of the (United States were luncheon guests1 today of Of Julius Curtlus German $35— $40— $45 Ilart Schaffner Marx foreign minister Chancellor Heinrich Bruenlng also (was a guest and the four talked quietly and earnestly about questions vitally affecting the future of Ger- many and Eurqpe Precisely what they discussed and how they discussed It was not repealed In the communique Issued by the foreign office In connection with the luncheon Nevertheless great Importance was attached In diplomatic circles to this Informal and Intimate conversation between the German and American statesmen an Importance which also attached to the hours they spent elesewhere during the day Meet Dispells Fear Secretary Stimson was quite specific yesterday in insisting his visit was of an entirely Informal kind and nothing he or his German hosts have said publicly since his arrival justified the assumption that any concrete result might be forthcoming from his Berlin week end However jther people as a whole seemed more optimistic and the hope that the fog of fear and International mistrust (may be dispelled seemed to have grown The secretary's Informal Sunday with the German ministers began at & Suits 24 75 $50 — $55—560 Hart Schaffner & Marx Suits REDUCED TO 3D7 $65-$7- Hart Schaffner The Hart Schaffner & f $75 0— Marx f Marx label guarantees satisfaction & Suits REDUCED TO 40 73 III South a when they motored to the Berlin museum and saw the famous temple of Pergamon which was brought here and restored by German archeologists They then drove to Potsdam w here they visited Sank Souel the summer palace of Frederick the Great and the “Neues Palais” where Wilhelm II maintained his summer residence until he fled to Holland From there they went to Wannsee and after luncheon at the pictur-- l esque “Haus am See” they returned to Berlin for tea at the American Arthur Frank 208-21- 0 week Drouth and Fire The prolonged drouth which has themselves with foreign Interests" Fifty delegates of the Utah State Federation of Labor adopted a resolution favoring exertion of pressure on congress' for a tariff on copper The action of the labor group followed a series of copper tariff' speeches by William Coxon member of the Arizona corporation commission who was sent here by the Arizona copper tariff commission to enlist the aid of Utahns In the campaign A contrary note was eounded by Francis Lee Stuart of New York president of the American Society of Civil Engineers who told Interviewers that the tariff was to a large extent responsible for the business depression Main Ij Auto Carrying Eight sons Drops Suddenly tertalncd at dinner een Carolyn Ur- L' NEW YORK July 36 VP — Two girls and two young men were killed early today when a taxicab In which they were riding with four other persons careened past a warning light and plunged Into the East river The dead were Identified as: Helen Bext 16 Mary Snlhur 19 Thomas Gormely 19 and Lewis Gurlas 20 From the position of their bodies when the car finally was hoisted out of the water five hours after the accident it appeared they had waged a terrific struggle to escape from the machine Michael Favalora 26 driver of the taxicab was ordered arrested on a charge of homicide by an assistant district attorney who questioned him at Bellevu? hospital where he was treated for minor bruises When It was found none of the names given by the three other survivors of the accident were known at the addresses they gave to the police the prosecutor ordered an Immediate Investigation The names given were: Helen WajOndDvetr's Final Summer Clearance Sale TO FRIDAY INCLUSIVE Offer for Quick Clearance MONDAY We 1017 Pairs Women’s Men’s Walk-Ov- Shoes Oxfords §(B S(B M ®(D Sport and Ventilated In combinations of but a good With White er Black or Brown Broken sizes as- REGULAR REGULAR $7 to $10 Values $850 lo $12 Values Sheer Hosiery special Chiffon or Medium REGULAR 3160 value THREE PAIRS BOX OF Refunds Exchanges Layaways or COD’s -- en-i patterns Black or or in Brown sortment to choose from No er at Pumps Straps and Oxfords High and Low Heels all colon and materials stses High-Grad- e Walk-Ov- er at Broken Pairs 470 High-Grad- e Per 95c Pair $275 Refunds WaMk-dDrcr'- s" 214 or SO MAIN ‘TV? ayaways coD’s See For Yourself Jmj i t flow of Solvent through GLASS at the rate of 1500 to 2000 Tbs continuous whits Jparkling’ SALT LAKE’S RESPONSIBLE CLEANERS AND DYERS PURE SIPESDAILS SPARKLING an gallons AT MYERS MEANS ALL GARMENTS RECEIVED AT THIS PLANT ARE CLEANED AND RINSED IN A CONTINUOUS STREAM OF FROM 1000 TO MOO GALLONS O T Discount 10 WHITE SOLVENT— EXCLVSIVE I hour your work if you will on bring it in and take the time to inspect this wonexclusive system derful FOR ADVANCE FALL CLEANING THIS WEEK personally L MEN'S SUITS AND TOPCOATS DRAPES CLEAN RUGS AND NOW AND SAVE LADIES’ DARK PLAIN WOOL DRESSES AND PLAIN SPRING GOATS Cleaned Under Myers $1 HALF PRICE Speeiafl E&uag Economy Service A Few Days gild Domeatlei (Regular Price $3) SPECIAL OMAA hit Domeatlei OdJk 7C 10 (Reg Price $330) VrfjJUU SPECIAL 1 PLAIN SILK DRESSES Any Color Except White Cleaned Under Myers Economy Service — Special ' FURS DYEING SPECIAL - $265 SILIl BEESSES and Plain Silk Dreaaes dyed the newest fan colors t (Regular W- -r Price $5 Coats Demand LADIES’ STRAW HATS (Regular Economy Price $123 Up) immediate attention if you would save them and have them clean moth proofed and renewed for fall and- - winter wear Cleaned and Blocked by Mverx New Equipment and apeclal Modern Block! Last year’s bat ran be made lo practically look like new For prices and advice Phone Wasatch SO for a rourteoua service man or bring your Hat to the Plant and consult our Experts personally Men’s Straw Hate SLIPPERS STIFF STRAW SAILORS— FELT HATS— DYED TO MATCH SAMPLE Standard Dyeing — not merely “coloring” Regular price $123 MEN’S AND LADIES’ FELT HATS— Cleaned and Blocked Under Our 3PFCIAL Fur-Trimm- ed np) IS IH Nccktles if tII- - $1 A 10c DOZEN $525 Value lor $2 TniS WEEK New Economy Service PANAMAS MILANS BANGK0KS REGULAR $125 THIS WEEK $100 CALLS DELIVERIES FREE— BUT TO SAVE TIME BRING THE WORK IN WHEN POSSIBLE AND CONSULT OUR EXPERTS IN PERSON Ringus to m embassy Tonight Chancellor Bruenlng 1 years ago and the youngest four months ago The remaining nine Roberts chilof ania La who has had ten husbands dren were between the four twin sets has been divorced again Mrs Into River JONES twins ter-ra- On REDUCED TO A "economies" rather than a levy increase City commissioners figured pointed to Increased costs of operation will continue their figuring next -2 German Minister Fetes Stimson ' cannot beat the values in the suits Pricet quoted are this seasons prices One) Ga (UP)— Four sets of in addition to nine other children have blessed the wedded life ident In his statement at the hospital of Ben and Julia Roberts negro near here Per- the driver said something had gone farmers Ben is 48 and Julia 40 wrong with his steering appartus The oldest twins were bom eight- being rallied sharply Saturday from and Utah cities felt the force of the 6 to $4 85 giving hope same destructive hand that further gold shipments might At Saltair famous Salt Lake reprove unprofitable sort a blaze started In the dry roof of a “fun house” concession spread Berlin Moves to to the entire row of concessions on Purchased — By the First Security the south pier before It was brought corporation a controlling Interest In Retain Capital under control Damage was esti- the Knight Trust and Savings bank BERLIN (UP)— The mated at $105000 July 26 a figure which of Ptovo The deal Increased the Relchsb&nk report for the week end- would have been much larger had the number of lnstltlons now In the First ing July 23 showed that the total wind been blowing the flames toward Security group to 29 note coverage Including gold and the of Instead away from it pavilion French exchange Increased 3 per cent In Salt Lake a night Senator Reed Smoot and a group to 361 per cent The coverage was blase razed the old spectacular Salt Lake brew- of Utah mining men departed for still lower than the recent legal min- ery at Tenth East and Fifth South Boise Idaho there to discuss with imum of 40 per cent which was re- streets WUllam E Borah the probendangered nearly resi- Senator duced by decree Bankers believed dences lem of silver stabilization the Relchsbank might raise Its disIn Ogden fire' destroyed the Belnap count rate on Monday from 10 per and Smoot lumber yards causing a Deaths and Accidents' f cent to 15 per cent It was increased loss estimated at $85000 during the crisis from 7 per cent to In Fountain Green a old Dled-and Mrs 8 D Bell of 10 per cent as an emergency measure Betty Huggins was trapped in Salt Lake when the auto to stem the flight of capital from the girl a burning barn was cremated while mobile In suddenly which they were riding sessor former chief of police former oountry neighbors listened to her tortured crashed with a machine driven by secretary of the state land board one cries tried frantically to find where Ivan F Born also of Salt Lake time nominee for mayor of Salt Lake she was In the blazing mass Money Rates Hit and a prominent Mason of a nervous Died— Frank Murphy 29 of Salt disorder from which he has suffered By Concentration of drowning In the surplus for two years past in a Salt Lake Finance Business and Lake NEW YORK July 26 (UP)— Concanal He Is believed to have struck centration of the world’s monetary his head and stunned himself while hospital Industry gold stocks in the vaults of the Bank diving of France and the American federal Crime Industrial organizations and vlsit-ln- g reserve system has disturbed money Died— June 17 of McKenney notables mad? tariff news In Salt rates In all parts of the world Goshen of Injuries suffered when Died— Carl Jensen 55 Centerfleld In the wake of the German crisis Lake during the week automobile In which she was ridRepresentatives of the Utah Coal the blew of a broken neck and earlier In the month which was Producers’ a tire and overturned on the sheepherder ing association with met F skull fracture The body was found caused by the wholesale withdrawal X A Eble highway near Goshen United commisStates a in canal by a posse organized after of credit from the country England of customs obtained a promise the victim’s horse had returned to Died— encountered Elizabeth Bertha Howe a similar “flight of sioner that their plea for more tariff pro- Sprlngvllle the home of his employer riderless capttaL” girl of injuries suffered Officers tection will be given Just considera- In an automobile said It was a case of murder Since July 13 the Bank of England tion The accident In Spanish request of the coal Pork canyon started a search for the murderer has suffered a net loss of gold of men waa specific customs Inthat officials 30000000 pounds sterling (about voke the clause In the Died—Ansel Redd 40 $145200000) This amount In addi- Smoot-Hawle- y countervailing Miscellaneous tariff act which per-hi- ts farmer and stockman of prominent B landing tion to another 5000000 pounds In the of certhe on tariff raising Utah suddenly when he was thrown gold which was Imported all found tain classes of coal In retaliation and rolled on by a horse at the Elected— Sister M Vlncentla sisIts way into the Bank of France As against coal tariff boosts by other Monticello Pioneer ter superior of St a result the gold reserves of the Bank countries day rodeo show as mother general of the Sisof England have fallen to dangerous Mr Eble in an interview accused Died— William J 69 of Salt ters of the Holy Cross at the annual proportions Against the supposed many critics of the tariff of “allying Lake former Salt Lynch Lake county as- - meeting in South Bend Ind “danger mark” of 150000000 pounds sterling the gold holdings of the country have fallen to 137803000 Two weeks pounds ($664166652) ago holdings amounted to 172803000 bushels yearly Last year available supplies were 4365000000 bushels and consumption about 3765000- 000 bushels In other words were surpluses steadily Increasing “Efforts either by Individual cooperation like the Canadian pools or the governmental operations like federal farm board or state efforts In Australia to temporarily hold the surplus off the market only make the situation worse In the end through holding out the hope of securing profitable prices and thus encouraging a continued excess of acreage and excessive production The prestige of government backed by hundreds of millions of dollars cannot overturn the Immutable law of supply and deefforts continued mand and such only serve to waste the taxpayers' money and to make the situation worse by encouraging the creation of a further surplus when It Is the existence of that surplus which Is the fundamental cause of the trouble" 0 a SALT LAKE VTAII EVENTS (Continued from Pm Pair Boast Four Sets of Twins Smith 19 John Martin 22 and Martin" Smith 22 Police later found “Martin Smith” to be Andrew Graham All of the occupants of the taxicab Including the driver were said by the police to hive attended a party In a dance hall prior to the acc- FOURTODEATH j 4 Mr IT’S A SALE YOU CAN TRUST (C Db - -- A : 4 ( York $4 84 -2 - 4 ling In besides report says- "Unlike most natural products the use or wheat lor human food is practically uniform In quantity whether the original price be high or low The capacity of the stomach for white bread is neither materially increased nor markedly decreased by the co6t of the wheat that enters Into the making of the bread A surplus of production and a decline Ih price does not automatically Increase the use of wheat by stimulating the human appetite If the price Is low enough it brings a substitution demand for use as animal feed but for practical purposes this character of demand is of small value as a price stimulant because It represents a high cost human food In competition with low cost animal feeds Discount Russian Dumping “There Is no purpose In yearly w heat productions except for human food and a surplus beyond human consumptive capacity means a cumulative-unwanted surplus that forces price concessions Efforts to attribute i esponsibility for present low wheat prices to market manipulation short selling or Russian dumping break down entirely In the face of a tremendous and growing world surplus of wheat in comparison with world 27 1931 NEWS OF WEEK IN REVIEW TAXIPLUNGES Intensifying the depression for bar gold mostly to France been husbandmen was almost overshadthe exportation of 48000 owed by Its twin scourge— fire —durpounds sterling In sovereigns the week Forests throughout the The sterling exchange rate In New ing west were ravished by flames The JULY LAKE TRIBUNE MONDAY MORNING Bringus Phone Was 114-12- 0 EAST BROADWAY Fur Trim COATS Special 2 MYERS SERVICES Standard Cleaning Moth-Proofin- Service Standard at Regular Prices CEDARIZED Dependable Cleaning for Plain Inexpensive Clothes BAG TOTAL VALUE The Best Money Can Buy Service Economy at Special Low Prices I g ALL FOR ONLY $250 200 75 $525 : |
