Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-03-24
Senate Taking a Hand.

charge became a first lien on the land.
For this reason the regional land
Senate Taking a Hand.
Wall street and industrial interests
generally show some alarm ever the
fact that the Senate has taken q hand
in price fixing, heretofore thought to
his closest advisers. The Gore bill fx-
ing the price of wheat at $3.50 q bushel
was put through without much trouble
Senators remembering that the agri-
cultural community has long memories.
1t is stated that 80 cents a bushel added
to the price of wheat as fixed by the
President, $2-20 a bushel. would add
about s400. 900 to the cost OF living
of the American people.
A compromise has been suggested in
having a committee appointed by the
President to investigate the cost of pro-
duction, with the assurance OF attention
to the matter after report has been
made.
The while price-fixing problem is in
tensely important and should not be
left to any member or members OF
election .
Maturing Securities.
In April SIS, o02, 900 railroad securities
Will mature. the heaviest payment be-
ing the $45, 100000 one-year New Haven
notes. Most of the other obligations
Will probably be cared for by the cor
porations issuing them. The govern
ment Will be expected to care for the
New Haven obligations. whether it does
or not being another matter.
Industrial obligations to the amount
of $17.632,700 and public utility obliga-
tons to the amount of $i3.257.000 ma
ture. The industrial and utility obliga-
tions are generally for small amounts
and should cause no uneasiness- The
New Haven obligation will be watched
with great interest
Made Them Lower Rates.
The action of the New York Clearing
House Association in adopting a sliding
scale of interest rates is a keen disap-
| pointment to many interior banks, who
hoped for a competition for balances
| that would lead to larger interest pay
mentS
| One or two banks, taking the lead,
advanced rates sharply. even as high
as per cent, and were congratulating
themselves on their astuteness. They
have been brought back to earth by the
new scale and the effective penalties
| that follow violations.
In a measure the adoption OF the
sliding scale based on the reserve bank
will serve as a check against raising
the bank rate, as interest on deposits
automatically follow.
Local shareholders in Greene-Cananea
will welcome the statement that the
company is looking forward to a long
period of successful operation in Next
co. Everything is running smoothly
at the property; there is an abundance
OF Mexican labor, and. barring further
Interruptions, there is no reason why
the company should not give a good ac-
count of itself this year
The present governor of the state of
Sonora has shown a. commendable will
lingneSS to cooperate with the COM
pany in its efforts to conduct oper.
tons at 100 per cent capacity Fur
/ thermore, he has shown in more ways
| than one shat he is in complete control
| of the situation in that part of Mexico
| Narauding bands no longer threaten to
| and mining operations have received
a big impetus.
In all probability Greene company
| will turn out about 5000. 600 pounds Of
! copper this month. This would be
more than 1000, 900 pounds better than
FEBRUARY and the largest output since
March a year ago. when 5,50o,o0o
pounds were produced. continuance
of operations at 100 per cent capacity
would mean a production of at least
5.0000 600 pounds of copper a month,
aside from the company's silver and
! gold output. and a total of something
| like 100000 pounds for the year.
This would compare with 30,2ss, 900
pounds in 1917 and 62,250, 067 pounds in
1916.
Greene had hard row to travel last
year. Operations were suspended from
June % to December 10 owing to labor
troubles. And yet despite the uncer-
tainty which always surrounds mining
I operations in Mexico the 50 quarterly
dividend was continued.