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...economic seer. Unhallowed by academic standing, he published Germany and Her Debts in 1923, a forecast of the European currency debacle. In 1926 it was The Coming Collapse in Rubber, about the same time the Stevenson restriction plan smashed and rubber started its long slide from $1.04 to 3?? per lb. In 1931 The Coming Rise in Gold Shares was followed two days after Britain took sterling off gold by The Course of the Coming Boom [in Britain]. Just after President Roosevelt took office Major Angas wrote The Coming Rise in Wall Street, which was followed by a 90% jump...
...long ago John Speculator was talking hopefully of "dollar wheat." Last week wheat was $1.15 and the new watchword was "dollar corn." Rubber, which sold as low as 3?? per lb. in 1933, was up last week to a four-year high of 17¢. Silk on Manhattan's Commodity Exchange had the busiest day in months. Cotton hit 14¢ per lb. for the first time since 1930. With few exceptions the raw "things" which the U. S. finds essential to its well-being were in high speculative favor. The number of citizens eager to swap dollars for salable goods...
...Lone bright spot in the steel business last week was the increased demand for tinplate wherewith to can drought-stricken beasts. Rut darkest spot in all commodities was the price of hides, down from 6½¢ per lb. to 3??¢ in the past week, or 15% in six trading days, because the market was glutted by Government slaughtering. After strenuous protest from tanners, RFC last week agreed to advance $10,000,000 to hold surplus hides off the market until demand increases or they can be dumped abroad...
...York an automobile dealer who sold a Ford for $50 below list price was fined $500. When he refused to pay, he was sentenced to jail for three months under a State law to supplement NRA regulations. Under another State law a grocer who sold bottles of milk at 3?? below the list price was also convicted, made liable to a $200 fine, six months in jail or both...
...last week, that to add 10% to the freight charges on lightweight commodities for short hauls would only drive even more business into the hands of truck and steamship competitors. Consequently they were planning a graduated increase, not permitting rates of any one commodity to he upped more than 3?...