Show 14 THE SALT LAKE TRIBUNE B SUNDAY MORNING OCTOBER 3 193 Business Recession Blamed on Demoralized Commodity Markets Coast Mine Inventories of Big Firms Bulge Willi Goods Bought On Prospect of Inflation US Industry Industrial Writer Sees Waits Vital Higher Price Level Court Rulings For Nonferrous Metals Signs Point to End of Era d Automobiles Of Proves Rich In Graphite Low-Price- By EDWARD W MORRISON Copyright 1937 for The Tribune DETROIT Oct - OcL $ UPt— BusiThejnost ticklish problem confronting theJ K Oct 2 JPI — A tUir ANGELES automobile manufacturers as they prepare their 1938 models for the ness leaders and industrialists partAs an outstanding example of nautral resource and commodity curiosity trucking — contractor's about smooth black ore taken from public is the question of prices Two months ago when changes icularly utility executives are oc— one of the three broad industry classifications which industries of In the made were retail listings a gold mining claim in the San cupying themselves with much conshow NEW jORK Oct 2 — Out of one of the stock market disturb- - Bernardino mountains has disclosed most of the major producers the greater than average gains in the rising half of the on numerous typically jecture these ances in the early years of this century came the phrase “undigested fabulous deposits of rich graphite sales departments heaved a sigh of 38 per cent respectively Cotton pertinent cases days will be be- economic cycle — the nonferrous metals industry benefits in two ways which eecurities” said to hav£ been coined by the elder J P Morgan This ‘which he estimated total five bil relief with the thought that the in- tin and chemicals show varying ad- fore the supreme court when it from the higher price levels which accompany rising phases of the dustry' had leaped an unpleasant vances lion tons convenes again next Monday Was his diagnosis of the ills from? economic cycle says the current issue of the Brookmire Analyst Economists within the industry Mark Hart the contractor said hurdle The nominal increases bethat Three of the most publicized cases Which Wall street and the business no were to announced the are whether promised raising question 15000 feet of outcroppings of the concern to utility' Not only is there usually some' are of Per-- i World were then suffering the long cycle of declining automo- - men— oneespecial ore assaying 40 per cent obstacle to nw car sales the Duke Power company reflection of increased valuation of graphite resources but Most of the increases registered i?ii6 price? bag not come to an hap-- a of the use their pjartiaUfxpla'rta'tin of whW-ha- s 98 d beaejng gold value Wh ni n g from $6 to $204 a ton ail silver during the summer were $ 25 tp $50 eqd For alftiost 17 years there has of federal funds to build a munici- also because their costs of producdeveloped in the same centers worth $8 a ton had been located He with a few instances of an add- been a modification of retail prices pal power plant In competition with tion do rio£ rise as fast or as far ar In the last few weeks would be a said the graphite sells for $100 itional $25 io the higher brackets The dollar value has risen year af- a privately owned utility while the prices profit margins widen condition of “undigested” comto $1300 a ton depending on Us The likelihood exists now however ter year until the early 197 prices two others Involve the constitutionFurthermore this industry also simmodities that the figures for 1938 will show were about 47 per cenT"below the advantageous charrichness - In ad- ality of the public 'utility holding partakes of 1920 values model for ilar the With his chief engineer John further adjustments of almost This has come about in two ways company “act'of 1935 and of the acteristics of thd 'Other two widely classifications Ragan and Charles Hewins a dis- same amount Whereas the late dition better cars were built with Tennesseee valley authority gaining industry Primarily and identified more with abled- war veteran who originally models for 1937 were increased from each passing year in the Puke case namely trend and cyclical indusArguments the domestic than with the foreign conthe 5 7 The witnessed cent to the new prices for located the deposit Hart has filed industry per Tribune Washington Bureau should be heard this month with tries 1938 will be 8 and 12 per cent above tradictory movement of wages and an aituation was the later scramble a dozen claims WASHINGTON— Se nator Thomas early decision expected from the Usage of these metals continues — autofor decade almost a the the Hart who Jives at Orange and prices figures that prevailed at for commodities by manufacturers The company claims title to show long-terexpansion Thus not anticipate that the mobile wages went higher and high- justices share with typical of Utah does 2 of the N I R A under which these fields Ragon were estimating a contract shows last November who expected higher prices under deof er as extent to the the The which additional to haul ore from Hewins’ claim price product W A has made a grant for a trend industries in the expansion policy of purchasing American silver P the the impulse of a credit Inflation This movement prevailed situated only a short distance from price increases may reduce the de- clined municipal plant in South Carolina factor which adds to gains during at a premium price will end with the that has persistency failed to ar- When the demand for is an unconstitutional the old Doble mine which" yielded mand for new cars is a topic for until 1928 close of the present year He exdelegation of the rising half of the cyge 1929 in automobiles subsided a fortune in gold to E J (Lucky) speculation wages power by congress in that-- it derive Consequently there will be on Heavy Industry pects that some way will be found Dependent so fell the Baldwin precipitously During found today in the inventories cf prives tbrf Duke company of propSensitive to Prices called degression years they were erty TTotlcStLTlie ofe contained a to a very sub- to continue the plan now In opera“due process” violation in the Usage They depends of Industrial companies large amounts In the past the industry has only 50 per cent of the 1928 peak clause rich mixture of a smooth black substantial degree upon the durable tion He has not had opportunity proved especially sensitive to price of raw materials which represent Automobile prices by no means stance themselves against a consumers’ goods and capital goods to discuss this matter with treasury Preparing Individual reactions manufacturers were and commitments speculative “What Is that?” one of them asked dropped accordingly Why? Chief of the holding lines where activity swings widely officials but says he has no fears have never been able to stand out ly because wages had been the possible validation taken at high prices This conHewins numerous systems through the cycle with relatively company act the lower trend either for dition has extended into the retail mobile factor in production costs have been at work for months on large gains in rising phases Ac- for the future of silver “I don’t know” he replied “but against field and on thia same assumption the stuff is a terrible nusiance I’ve or higher prices As late as the Materials did not fluctuate so much programs of consolidation not only cordingly nonferrous metals expeWhile abroad the Utah senator Of inflation The Journal of ComAt leat they were not subject to of territories but of their financial rience wide cyclical' gains in vol discovered that there had been a never found gold before mixed up spring of 1934 an attempt to met crease merce this week is authority for resistance with prices with anything like that” control from the executive offices structures time move to generally terthe statement that '‘merchants are They took somples of the ore to among purchasers and eventually as wages were Automobile prices In the field of labor relations the A particularly favorable factor is pronounced was abandoned the season fall with the were lowered to produce additional court will have before it several that volume of consumption tends minate government purchases of Morris Hilton an assayer at Santa entering both silver and gold but his latest New factors have arisen in the sales not to conform to wage cases Ana near Orange who determined largest stocks for this time of year testing the jurisdiction of the to be largest when metal prices are information was that this drive had last 10 months however that leave costs its nature and its high value reported since the depression" national labor relations high levels and profit in at 2- - 1 - keW-YOR- ' Sen Thomas Holds Hope On Silver Pact th-iss- case-contai- m - in- board Hart said the mine like Baldwin’s the manufacturers little room for Low Prices Effect of Abnormal Demand decisions in disputes be making Sustained for retreat are instance Wages Doble vein is an open outcropping employers and unions The second factor in the rise and When prosperity began to return tween which can be blasted- down and subject to outside pressure as the The strike may also to of the the 1933 manu fall of commodities was the com of the result union in Invasion the loaded into trucks with steam shovindustry come for a review as to its legality field automobile found facturers that by improved petitive bidding by foreign govern els this session A lower fedThe Automobile Manufacturers' methods they could sustain the during ments through their American rep of trade reaction is to be found used in the manufacture eral court has granted an injunction on the had association other s$entaUves for nearly all of the in Iron and steel where the rate of Graphite the points adopted during prices they lead pencils for foundry facings to a Philadelphia hosiery company raw materials produced in the Unit of The public too had and in plants is mined commercially hand to the rise in the prices of depression in its plant prohibiting a "sit-dowproduction has dropped to 74 In ed States essential to the promo raw considerable to and materials for semifabricated begun expect where steel only a few widely scattered places and the American Federation of tion of armament programs Inas per cent of capacitytoand Sheet steel dollar its automobile has gone up products Iron Age “are Most of that used in the United 20 Hosiery Workers has petitioned the much as there seems to be no let makers according to per cent forging steel 17 per The manufacturers raised wages supreme the reduced States is imported court to void the writ down in these it may be difficult adjusting production a 27 ih cent set cent iron From as and cast recovery rapidly per volume of new business” A sequel The commodity exchange act of to explain why such staples as cop- to avmaof the 1933 1937 about These to the wages half the represent 1936 is being tested in four this is the piling up of iron ore terials that make up the car per lead tin scrap Iron and cotton erage automobile worker almost fictions involving the separate lake docks Executives of Chicago Crain Chicago nave slumped so violently since at the electric Wool has cent advanced 11 per doubled board of trade the Chicago mercanpower systems have theCHICAGO Oct 2in (AP) — After one of — large is an item that takes the unions are a factor tile weeka wheat prices Now that dullest sessions spring One reason is the inevitable been andjwool levelor weekra Kansas the steady and closed strong at net fractional pains Saturnottngf City of the cost of the in the plants wages' will cease to boardexchange about operation of the law that where ing off In Final of trade — the lower courts ’in erasing earlier losses output though this day there is an abnormal demand and a still holds their were Just about a cent above the prices Rubber which accounts for be a flexible item in production each instance car day's well above last year lows having upheld the has risen 15 per costs high price there will sooner or In the past the price of act The about The late upturn in the of the securities pit was to later develop an abnormal supply Freight Traffic Gains some extent sympathetic Chicago be shaved by act of 1933 validity with a gain of a cent an automobile might is under challenge Also cent tn Winnipeg prices but other factors with nature frequently playing a Copper lead and zinc all of which the manipulation of labor expendi these figures Is the re- stimulated Jagging buying power these were unfavorable crop reportsAmong trick on the buyers as in the case Against are elements in automobile man- tures This is not so likely to be port of car loadings for the week the southern hemisphere and trade from comOf cotton that Argentina's seeded acreage may ufacture show increases of 45 28 Slid the case in the future ending September 25 the largest ment More intricate and technical Is since be overestimated and that moisture defiThere Is ciency conditions are serious in some areas the effect that disturbed and dis- decidedNovember 1930 in the condition of the domestic winter wheat belt torted currencies have on com- of retailirregularity Wheat closed higher December business throughout the 51 08 M 1 08 Vi May $108 modity prices in world markets country In general the Industrial July $103 corn was o off tofoil 08 r up The present demoralized condition centers Indicate the effects of a October 69 c December o July May 64 oata unchanged 65c of a section of the commodity marrye down in production of Pmber up DecemNORTH A ALT LAKE Oct 2 (USDA) — long yearlings $18 75 c 30c: ket therefore cannot be separated slowingmaterials 2c to 13c higher NEW YORK light mixed yearOct 2 Wide with consequent in- berA 79pause Inprovisions calves— Trading to the cattle lings heavy $18 00 heifer yearlings $16 25 of American Cttl wasand foreign takings from the present new crisis In the crease in price and a notaon a moderate basis this week and but all other steers 25 to 75 cents lower fluctuations wheat was a restraint on buving activity pena in qhemployment iu line with a week ago as to mim common and medium light steers off most ble pickup in demand at lower levand prices slipped to $1 07 French financial situation with all On the other hand the story and for December about bers but not aa good as to comparable heavies price 25 to 50 cents down $1 08 for Mav Selling pressure howof the collateral sequences which it from the The week's receipts numbered best western grass steers $1300 warmed-u- els featured domestic copper marquality states is of ever was very light agricultural 1556 as compared with 1586 a week ago choice fed ket during the week has created throughout Europe grassers heavy a well sustained merchandise busi- Cash and 2726 a year ago The steer supply heifers scarce steady $1575 all others 25 to 50 After resisting for some weeks was of plain quality and moved within a cents Quotations cutter cows 15 to 25 cents lower ness One of the supporting inCommodities Low Local grass heifers CHICAGO 2 (AP)— Cash wheat— range of $5 00 & 7 00 bulls 25 to 50 cents lower and veal- the depressing effects of lower exis the high farm in- No 1 hard Oct were of similar grade with a range of off fluences there 1 18H to and ers $2 00 lower gtockera $150 The result Is a commodity index Medium to good cows were feeders $5 25 ty 7 00 Corn — Old No 2 yellow 97c No 3 sold after losing 25 to 50 cents be- port prices and decreased consumplarge cereal yellow for $5 50 to $6 00 ana common locals came now at the lowest of the year It come derived from even 85c active country movement being up- tion the price of 14 cents delivwhen the cutter Low at at cutter and $4 prices good crops 50(525$3 00 H 4 25 Bulls went at ward of 12000 head approximately ered valley which had prevailed repreaents as drastic a readjustment slump from the January level is 33 ft 34 c 8 mixed 33c No 1 white cows brought receipts jvestern grassers in week's $440fr5 65 and odd lots of common io from the high levels of last March considered Rye— No 2 SOU 081cNo 3 S3Uc for week end- for five months was finally slashed 12000 Receipts Sheep— is noticeable howvealers It 00 9 $5 good — brought 007 Buckwheat None 12500 directs: compared Fri- at the as that in common stocks and in ever that this decline in farm in Hogs — The demand for hogs was a little ing Friday beginning of the week to 13 25 Soybean — No 2 yellow 98c day last week spring lambs strong tosorts better than last week's slow trade but cents — Peed cents A further cut brought the and junior corporation bonds If this come has taken the keen edge from Barley 40055c fhigher Improved quality malting were lowered around 35c tinder 20 tp 87c pricesweek’s lose Good 0 feeding lambs Is translated into a shrinkage in sheep strong 12 cents by midweek and choice butch- considered last but the market for manufactured goods Timothy aeed— 2 250 2 75 0010 85 week’s level to ers rated at $10 75 ftp 11 00 on late sales firm week' bulk $10 national wealth the figures are so $10 00 & 1050 best natives after a heavy general business was a few Red clover aeed — 2750 032 50 and medium grade mixtures went wtthlu a bulk natives close flourishing conspicuously medi- done at this to at 75 available $10 in this packers: has some 10 of 50 one Obviously big range $1000 with staggering quotation leading ago fiows were um and good slaughter yearlings $8 00h weight heavies down to $965 flueneed that sentiment traditional-'1- months Range of Leading Futures announced a proposed 8 25 mostly slaughter ewes $3 50(&5 00 producer valued at $8 00 ft 875 The universal query now Is Low choice to to 62 Clo Open 75 High the ebb pound cue Most its the feeding from and good run of 20 reduction of Sheep— generous sheep taking output by per cent this country Is facing a DeoWheat : this week moved on through billing al- lambs $1000 $1025 mostly flow of security prices Wall street whether 1 0714 08 U l 07 44 — and wien the largest sellers re0814 though five doubles of short run Iftahs Or a major recession in KANSAS CITY Oct 2 1 08 U 1 087 1 08 May 1 087 numwere is still the favored barometer for moderate sold The — to week’s to fused sales locally limited follow custom smelters’ good receipts Receipts 100 business It is one that cannot be July 1 02 1 03 01 l 03 bered 33671 head as against 32769 last Hogs Choice $1100($1125 decline to 12 cents the general askbusiness men to watch from week answered week and 24119 last year even an approach to OctCofn: TO Five cars of wefik to 10c lower pounds with than average Friday's 70 to week 69 69 Utah lambs averaging around 85 pounds choice grades above 200 pounds scarce ing price advanced again to 12 For one to deal with It Deo 63 63 63 were sold on the local market for $050 for the week butchers 83 40506 lower cents where it ended the week There' may be some statistical accuracy 64 65 64 J with one load averaged out at $900 In sows 50c or more off 64 is to betray a will- May categorically 65 65 65 July satisfaction for the average con the truck division one lot of 65 Cattle — Receipts 500 calves 200 for Export prices worked lower rulbets on outright to Oats: In lambs went at $800 and a few the week lay ingness trucked medium and good grade steers sumer in learning that- the food 30 30 lots of light feeders at $750 30 A few 1150 pounds down 30 The Imponderables of the Dec 25fr50c lower others ing at about 12 8 cents at the 31 31 ewes index this week had a sharp de- guesses local of May truckloads 91 31 she close or about lower stock fat short $375 week’s brought 25$v70c cent off steady are too numerous and too July 32 32 31 31 OGDEN Oct 2 ( USDA — Cattle and fed heifers off most other grades cows cline despite the rise in the price situation restriction new to- - permit calculations on the Soy beam production calves — Receipts In the cattle division this steady to 25C lower vealers weak to 50c Foreign Oct of those essentials bread and meat basis of Stocker classes to 97 numbered lower and feeder 5028 head week weak as against agreements were again put into Dec past performance 3872 a wtek ago and 5792 a year ago 25c or more lower week's top prices force Statistics however make poor closer control May presaging Monday's arrivals made up the largest choice to prime yearlings $16 25: good table fare They do not much im- Difficulty in Forecasting 50 Rye: run cows 25 steers season of vealers abroad beginning in late Novemths $8 $14 the week's good and day’s Dec 791 79 78 79 contained more good cattle than have $1050 fleshy feeders $1185 yearling ber supply press the grocer the butcher the This much may be said— if faots May 78 78 78 landed here on any week since the year’s stockers $9 25: stock steer calves $950 77 baker and least of all the milkNone for the week none crop of grassers started Zinc weakened by Most of these Sheep— Receipts cent in the permitted to have their nor- Barley— Lard however consisted of steers and cows with spring lambs uneven westerns 15($25c man To what extent has the re- -' are Oci some trade 10 loads 11 the lower but 00 10 of 50o 90 few natives 31 mal Included 90 00 in very heifers shee'p 2o domestic market after London had higher good forecasting weight versed trend in securities and in outlook were Nov Prices Colorado 35c lambs 10 with to 92 sold off under Dutch liquidation generally steady higher top spring atrong they point to an exten- Dec 30 90 30 92 30 85 30 92 a few spots especially on good at close $1050: other westerns $9 75 (a At 650 East commodities affected 'business? sion of the cows St Louis an increase down from $9 25 Drivein cattle were bare- 1035: most natives business recovery from Jan 10 : 70 10 60 10 70 10 72 steers andhigher ewes 85 Bellies Again this week positive evidence this level though not at the ac $4 ly steady to weaker than a week ago $4 25fr many shipments top in demand was reported and sizable — Out-ugood '1166‘potthd lltalw wteert made 475y feeding: lambs — mostly 4900 fei 935 13 15 T" orders for last quarter delivery the best price for the year at two celerated pace of the same quarter OMAHA Oct 2 ( Hog! loads of Iriahos averaging 938$1025 and 1125 NOTICE TO CONTRACTORS 600 nominally steady with Fri- came to light a year ago On the other hand if Minneapolis went at $9 50 and two loads Receipts pounds common to lots scattered average day’ Lead was down another be received by the sentiment bred by the domestic cent 8eled proposals will Idaho at ood butchers $960 ftr 11 10 MINNEAPOLIS Oct f i API —Wheat— of JL101-aef- - Murray ?Ky ai— ns Nevada- - few City lit the bead low choice around Ml!? to 6 centsNew York and buying Receipts- -' 18 rarafa(Rn baalsTdewif and labor “situationr5nff on oflice City HaUror the construe political low end averaging 970 and 108 pounds went to a weights $1140 odd head good packing orders at 3c to quotation unchanged feeder at $8 60 The bulk of medium kinds sowa $975&985 for weekJ5(ty5hG lowtlou of anchor improvements to the municl by what is happening politically and lower that price were said to around $7 50 down to $5 00 and er no quotations pal Diesel electric power plant 1 Cash — No together be for Octobendeiivery in the main heavy 1 dark northern ranged A few cars of medium under with certain alternate bids all in accord- economically in Europe and in the $1 23 ft 134 to good — Receipts No Cattle 250 with dark compared nprthem ance with the plane and specifications as Far East is to control the thoughts heifers moved at $6 60 ft 7 60 with most Friday last week fed steers and No 2 $122 indicating a shortage of immediate ft 132 ft 129 the local supply going at $500650 uneven! choice long feds strong yearlings Harry Bletxacker Engineer and actions of investors manufac $123 prepared by Hall No 3 $118 medium consumer stocksT-Ste- el 127 lower teat weights of Three loads of good Idaho cows went at to good Abort feds barely steAdy to 25c City Murray Utah up and Murry 3c discounted pound per nominally fancy A few until the hour of 5:o0 p m October 14th turers and merchants there may be No 1 hard Montana $121 af lower heifers 25c ingot production declined No 1 dark $700 and three cars unevenly loads of medium to good $675 1937 at which time ami at which place kinds brought or No 1 hard Montana winter $114 steady to 25c lower heifer 25c another 2 points to 74 per cent The best drlveins brought barely 650 4? 665 Low they will be publicly opened and read aloud a considerable decline in business hard lower vealers Stockers and feeders L No hard affcber durum steady fr!16 Plane specifications and proposal blanks volume in the n?xt few months cutter to common drive- - steady bulks for week fed steers and F550itw800 No 2 $100 991 13 $103 ftl14 at ins 25 Bulls moved yearlings tnay be examined at the office of the City few loads The position of the administra- No 3 07cftlO9r No I red durum withinrated a range$300(5 Recorder Murray City or they mav be obof $450 575 Medium one load prime 1295 416 00$11001460 $100 amt good veal calves bulked at $7 50ft $1500 tained at the office of the CHty Recorder tion at Washington in this emerpounds $1920 short fed heifers $850 3 yellow ftift?4e: trad- 9 00 and common vealers at - Com— 25 5 upon a deposit of jaou 11 City Engineer' be Ci0frl2 4u small Its ing basis nominally market quotations 5v It should be noted that ill car00? Paid deposit will refunded provided the gency is not a pleasant one loti of lots choice $1400 4? 15 25 beef cows rattle bought for reshipment carry freight f750: few loads $775?850 small$550 8c—lower is to start mending to Oats plane and specifications are returned to lots No 3 white 29ft30e the Engineer In good order not later than immediate job benefits In varying amount cutter grades $375&5 0O $8 75tif950 — 41 ft8lc If President Barley its financial fences October 19th 1937 Hogs— The week's supply of hogs met a native bulls $6 00 9 675: westerns 25 $5 — No 2 Rye little better demand than a week ago but fr575 practical top vealers $900 few Proposals must be In strict accordance Roosevelt had not so many times Flax — No 1 $2 10 ft 2 23 with all the provisions of the plans and trices dropped off about 25 & 35c from $950 10 00 stocker and feeder steers The Old English Gold corporaannounced 6i 50 aeed— 50 Sweet few in last clover ft $5 the must on ast be on and close years a was week's Late submitted specifications taading yearlings up to $10 25 and tion has been the blank forms provided by the Engineer that the balbasis of $109091100 for the best light $700950 now be will organized by a num75 feeders heifers $11 stock fleshy “budget $600 To be considered and medium weight butchers and $J00ow ft 8 50 good to choke stock steer calves ber of they must be accom Kansas City Sat Lake City and Provo 10 75 for ths mixture of medium to good $7 OO to 900 panted by a certified check cashier's check anced” more confidence in the fact ( 2 KANSAS Oct API— CITY men to or bid bond In an amount at least equal of a The bulk of packing sows rated quality develop a mining propert Sheep— Receipts 2500 compared Friday nearby equalizing of income lower to c to five per cent of the following sum 140 cars at $7 50 © 8 50 last week spring lambs 15 25c higher in Troy canyon 85 miles southwest and outgo would prevail There was 2 dark hard $107 ft 114 the base bid plut all additive alternates Sheep— Receipts in the sheep section con slaughter ewes iambs steady: 25ft feeding on No 2 a new be will Nev No 3 received hard tinued their seasonal drop in numbers and 114 Bids Officers of the co: power further assurance of economy from $111 ftNo closing bulks good to choice of Ely 3 $1080110: No ths week’s arrivals totaled 26481 head to 40c lower building together with all steel spring iambs $10 00 ft 10 15 poration are the following: Josep'-Hafefriant The figures of the $109 No 3 compare with 35651 head last week and grade native forced concrete and miscellaneous acces- him this week 2 reef nominally $108 lambs 45 closing top £111: $10 range 25ftl0 The Close December $104 ProVo sories week’s sales were 44153 last year in the last quarter are en- $1050106 president Carl J good and choice ewes $3 50ft 4 50 No bidder maw withdraw his bid for a treasury 104 July 98c mostly lu the truck division with medium $1045 May $103 good and choice vice Provo feeding lambs $900 Harris president 4 cars Com — Receipts food fat local lambs going to' w$8 25r ft 1010 closing range unchanged to period of thirty days after the date set for couraging They have stiffened the 10 native feed$10 top ' one bid load 75 the of mix No 2 white nominally 78 0 1c higher Frank P Anderson Salt Lake City opening although market for government obligations 80c ing lambs medium grade S8 50ft875 No 2 74 0 78c 3 No Any bid received after scheduled closing More evidence term nominally short ewes r 25 secretary-treasure$350 breeding Additional di than this of a change yellow 73c No 3 nominally 68 0 73c time for receipt of bids shall be returned solid mouth breeding ewes up to $600 to the bidder unopened No 3 to No 2 mixed nominally 7l74 rectors are Dr William H Sprunt yearlings ewes to $8 00 The right is reserved to accept any or of program however is required Close 71c December 67 0 MAN nominally FRANCISCO Oct 2 HOtTH Dr E A Lunt and L B Glafc to reject any or all proposals or alternate reestablish confidence where it has 61 c Mav 63c — Hogs— For five days 46b5 InMURRAY CITY CORPORATION Oats— Receipts 5 can unchanged: No been seriously upset since the midcluding 1645 direet Compared last Friday: all of Salt Lake City and F H No 3 2 white nominally By G R BERGER Mayor Butchers mostly 15ft2w lower packing Harris Provo - Mr Glafcke is gen31032e dle of the summer sows steady to 25c higher weeks nominally 30 032c bum Milo mio— Nominally $109 120 to' choicebutchers eral manager good Kafir— Nominally $1040113 IN THE THtRD JUDICIAL DI8TRICT Security Markets Rally The property consists of 12 claims ft 11 bu light lights and medium to $1150 80c 78 0 Court la and for Salt Lake County State Hye— Nominally good fightsowsbutchers $1100 ft 1140 bulk On technical grounds and aided Former owners In the Matter of the Disincorpo-ratioBarley— Nominally 48 0 80c it Utah the $875 week’s bulk local totaling 245 acres racking of amount Town substantial utchera a buying of Central Perk Order by of $1110 sank two shafts one 100 feet deep to Publish Notice for and Againat Cattle— yor five days 1600 Including and one 150 of both stocks and junibr bonds on Winnipeg feet deep and drove a 425 direct Compared last Friday: Steers to weak medium to good she stock crosscut tunneL WINNIPEG Oct 2 (API— Wheat: To the Legal Voters of the Town of the most fhvorable income yield steady to The ore Is reClone Ixw 95c lower half load good steers High Central Park Salt Lake County State of basis in months markets for sesteady 131 131 M $130 VS 1 Octtibcr ported to carry gold and silver with UltahL- $975 six loads medium to9 good Vi a rallied 127V4 127 me128 after 60 have Pccombcr shortfeds 25 curities of The question $9 ft nev$ some molybdenum and vanadium ’disincorporating the 1 26V 1 25V 1 26 dium town of Central Park will be submitted to grass steera $850 sorted Mr Hafen says the corporation is average decline in the former MayCaah wheat — No f northern 143H: at $700 three loads medium to good the legal voters of aatd town et the next No northern 3 a from No 2 and northern steers load the on medium 2nd stocker election (139H drop $750 ft 775 ore in a northeast-southweMunicipal day during September shortfed heifers $7 50 medium developing of November 1937 And the form of eairi in the bond average for the year SI 23 fissure to good range cows $525ft625 medium between limestone Oats— No 2 whits 53c No 3 white ballot ahall be: 50c to of bulls 6 25 50 For $5 Calves— II For dlsincorporatlon ft good points nearly hanging wall and granite football Comfive days 220 including 155 direct common stocks in Agalnat dlsincorporatlon The that fact V EVAN8 Judge pared last Friday: Strong odd head At'cst: ‘ WILLIAM J KORTH a falLof nearly 30 per cent from Liverpool choice vealers to $1000 medium to good Clerk v ihi fnge-calve12 60 earlrtopto 25c 2 (API — Spot wheat 15 ft 25c loer Colorado closing ton 12 25 06w -25ftll to 360 pounds! $7 00 ft 8 00 $10 - last - November —LIVERPOOL Oci Danubian high-poiBy Alvin Keddlngton Deputy Clerk their— 00 metier at ewes steady 9 4d: Aua- yearling S650W7 50: Rotate 6e live rtaya 7200 includRi $200 £4 25 ShwPr-K- or f Seel) - Cattle — For Week 7700J725i9 medium to good feeder lambs $9 259 85 have' so far outdistanced tha degree taiitulna 9d 9d aiearaandeflwa-afOi-t- a 2So lowtrt-oteasvruoBer fH 1C AGO Oct 2 ( Wheat closed claaees eteady to strong fed eteera 991(1 ei of industrial change In the same camber : March nominal $1 34 $L29 Receipts 3000 string good shippers took 50o down 10 others JHOO09OO Mexicans 8 50 none estimated holdover lOOO: compared Oregon wooled lambs $9 60 sorted 234 ert00: period is a fairly safe warrant that Exchange $4 95 35 fed beifera 9 0000 40: graaaers ' mefeeders $8 3d othef week ago 160 pounds up 15 to 25 cants head 7 75 down September 3$ 1937— On and after October will make a much better 5 50 0 7 25: cutter cone 50 bulk and light lights 10 dium toicood woolskine 0Uft9 $9 lower pfgt S3 thia data I will not be responsible generally 75 bulle J5 50 tl 525: grades 735 books of Wall shorn and stocker to 15 cents lower packing sows 35 to 50 medium to good and feeder nteera $5 25 0 $25 for debts contracted by anyone showing on the lambs medium-pe$8 50? 9 00 cents oft good Calves — For week 4150 Street’s customers than did the lubber 50c to 75c other than myself medium-pel- t — and shorn 1000 100 $6?o‘ Cattle halves yearlings Receipts vealera YORK Oct to lower: ralves 2 tAP)—Cm 1000: (6 50 Oremonth which has just closed And birNEW medium to good V A TAYLOR 8 25- few S8 500675: a toe It cal yea $550 u 4 compared Friday last week strictly choice 700: doublewooled Closed steady 1 high ' f and prime medium weights and heavy steers gon abort slaughter ewes $3 50 as Wall Street goes so goes the lowerfutures— December 17 7JSV1775 0 8 00 — Magna Utah uncover cents — cent to 40 25 Oct 111 2 For top ANGELAS higher 9 Mav week 17 2100: steady: wooled I 106 yp Sheep 9 17V business j world etatemenUto-ihnew Ttepre mtHn’“record'‘t 1040 aweaj few gmoked ribbed abcftA i775o $i9 $19 60 25c lower bulk steer ft price 1225 $1975 Nominal $1150 525 43 highest light dosing notwithstanding 0 contrary - “sit-dow- n” one-tent- h Metal Prices ftc 6363c Drift Lower Livestock Market Prices 0e p 5' 1 1 X 160-21- r- - - 3-- 8 relatively margins widest In view of world conditions the fact that armament activities Increase demand for these mjetals is especially important The large resources in the ground and the fact that metal prices reflect higher general levels more fully than costs make nonferrous metal inflation shares logical hedges Wide fluctuations in mtal prices and earnings render the shares of these companies volatile market-wis- e -- at st AV Ol D THE RUSH! nd : lower--cow- Company Formed To Develop Mine Wheat-Rec- le first heavy snow storm cacli winter brings ns many orders for “ The “Caterpillar” Diesel tractors Auto Patrols and other “Cater- eipts high-N- not-thin- our standpoint" Senator Thomas is hopeful congress will be called in extra session during November for a variety of reasons but primarily because such an early session will give congress opportunity to treat with the silver purchase question and if additional authority is needed conwith greater than average legislative will have time to pass euch a gains in rising phases of the cycle gress bill abefore agreebut with reactions also sharp Thus the recent setback has been marked ment and the presidential proclama-' and has well discounted declines in tion expires December 31 Senator Thomas will remain in domestic metal prices Washington until Thursday and then leave for home Big Markets Cited Among the copper outlets which should show notably increased deCurb mand are: (1) Utility construction Official Hints Is in which substantial expansion foreseen (2) building where de- On Broadcast Rates ferred demand should result in wide WASHINGTON Oct 2 later gains and where the amount regulation of radio broadcast of copper used is increasing" Zinc is most widely used for gal- rates was broadly hinted at Saturday by Frank ‘R McNinch new vanizing Iron or steel and the prod- communications commission chairucts are largely for use in agricultural areas so the current gain in man Indicating he would Seek such farm income is a favorable factor Galvanized sheets and brass (of legislation McNinch told reporters which zinc is a component) are used he regarded radio as a public utility “the wisdom of any in building Die-cazinc is increas- and questionedwould which leave free from policy motor the in used especially ingly by a public made charges regulation industry utility" of stocks copAbnormally large McNinch said President Roosevelt per accumulated during the depression have been worked down to nor- had given him a free hand to conmal levels and although inventories duct the commission in the best wey have again increased lately they he saw fit are not unwieldy In relation to demand Foreign production has been is unlikely to exceed consumption controlled by agreements so pro- for any extended period The current situation appears to longed overproduction is not likely recession Domestic zinc Inventories are al- be one of temporary most at the vanishing point Im- With resumption of general recovports are increasing but domestic ery larger profits can be expected production is still impeded by a Price earnings ratios of the leading power shortage at the principal nonferrous metal shares now apsmelting plant pear relatively low on current earnStocks of lead are the smallest ings and leave out of consideration since 1930 and domestic production future improvement ::: 7678c been checked “I do any radical change will take place in our gold and sliver purchase policy” said Senator' Thomas “The money situation today is extremely satisfactory from o re-- n e pillar” road equipment V he Why not avoid the rush— and sure of delivery - — by ordering ! n now? V nt I 1000-poun- ' ft L ANDES st 730-pou- e i TRACTOR & EQmPMENT CO ’ hf lt : “ HEADQUARTERS — 24S Waal - ‘ e Totwwit-55frT7wak-- -tn Caterpillar ” Distributor lp t Vo South Tempi Sail Lak ' City |