Word: ib
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Dates: during 1930-1939
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...Congressional misery took a turn for the worse when the Eccles warning was seconded a few days later by Secretary of Agriculture Wallace and Secretary of Commerce Roper. Pointing out that the South was now planting cotton under the "dangerous delusion" that the staple would fetch 20? per Ib. by next autumn (price last week: 14?), Secretary Wallace declared: "I think very definitely that the Government does not have sufficient powers now to effectively mitigate the wide swings of the business cycle." Bumbled Secretary Roper: "We must not let our optimism cloud vision and obscure danger signals." At once shares...
...rubber-minded Britons have been concerned about their position as the world's big caoutchouc-keepers.* Their first attempt to control production failed miserably in 1928, partly because the Dutch were not in on it, partly because the price of rubber was stretched to a fantastic $1.21 per Ib...
With production restrictions off, with the demand for rubber declining, prices dropped with a thump far below the cost of production. In 1932 rubber sold as low as 2 3/8? per Ib. It has bounced continually upward with only one rebound since the International Rubber Regulation Committee, representing producers of 98% of the world's rubber supply, came into existence in June 1934. In the past year and a half the price has doubled, springing over the 25?-per-lb. mark last week for the first time since March 1929, despite the fact that the International Rubber Regulation Committee...
...Rubber's stockholders early this month President Francis Breese Davis Jr. reported that their 76,563 acres of cultivated Sumatran and Malayan rubber trees last year yielded 42,185,000 Ib. of caoutchouc, earned $1,943,790 profit, twice the 1935 figure. More interesting to preferred stockholders, who have had no dividends for nine years* was the parent company's report. Net income for 1936 was $10,172,000, compared with 36,532,000 the year before. But the stockholders can hope for no dividends until U. S. Rubber Co.'s accumulated deficit is wiped out. Even...
Born. To Governor James V. ("Jimmy") Allred of Texas, 37; and Mrs. Jo Betsy Miller Allred; their third son; on the Sam Houston four-poster bed in Texas' Executive Mansion; at Austin (see p. 23). Weight: 9 Ib. Name: Sam Houston...