Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-15
FLORIDA GROWERS
ARE FREED OF BAN
U. S. Has Spent More Than
Six Millions in Exterminat-
/ ing Fruit Fly.
By JOHN r. SINCLAIR.

Special Dispatch to The STAR
NEW YORK, November l5.-Today is
q great day in Floridal The fruit ny
quarantine was taken of this morning.
It removes all the restrictions on the
interstate movement of Florida fruits
and vegetables. and gives the State a
chance to move ahead again.
In April, 1929, the Mediterranean
fruit fly was first discovered IN Florida.
Since that time. the United States FED
eral Government has expended $685.
900 in an effort to exterminate the pest
in the State. Last year, the fly was
found on more than 1000 farms In
Central and Northern Florida. All these
groves were cut down and burned. Not
q fly has been found in any commercial
grove since November is, 1929
From now on, Florida grove owners
no longer win be required to pick up
and dispose of drops" and windfalls
No further issuance Of property certifi-
Gates will be made, and restricted regu-
lations of every kind will be removed.
Florida is to be congratulated, for this
years crop is bumper.
The Copper Situation.
The Canadian, North American, South
American, and African copper proouc-
ton interests. meeting in New York in
an endeavor to curtail world copper
production, say that the world produc-
ton of copper Is now at the rate OF
300, OO0, 900 pounds per month. Copper
mines, outside of the United States, pro-
duce so per cent and the United States
mines about 40 per cent of the total.
A cut, in world production, of 46,-
100000 pounds per month IS expected to
balance production with world con-
sumption.
Now, while it is true that the United
States produces about 40 per cent Of
the worlds production. it is also true
that 1t consumes about so per cent.
World consumption today Is not more
than 245 900 900 pounds per month,
divided roughly: Foreign, 100000
pounds per month, and the United
States, 14T,000.O00.
Of the United States are making 3d.
100000 pounds of copper more than
they use, while the United States Is
using $1,000, 900 more pounds month
than it produces.
Thus. even in these times. the United
States mines could increase their OUT
put $1,000, 900 pounds per month and
meet the legitimate demand. Only the
dumping Of cheap foreign copper pre-
vents.
Americans should not forget that
these copper conferences are dealing
with the world situation. It would be
q new angle If the American Congress
would proceed Immediately to consider
the United States copper situation with
particular regard to American interests
and American workmen-
Banking Inquiry.
What win the Glass subcommittee.
appointed to investigate the operation
Of the Federal Reserve and the ma
tional banking laws, really do? Tne
reelection Of Senator Glass and his
vigorous blast against stock market
speculation spells some awkward mo-
n1ents for certain people in New Work.
Wall street followers are particularly
Interested on how the investigation is
going to affect their business. They
realize that there are plenty OF things
to investigate. once thorough inquiry
The sweepine victory Of the Demo-
cratic party in the election win give
that party much more courage IN at
lacking this problem.
AS It Is. wall Street men are on edge,
wondering what it is all about and how
far it win affect their pocketbooks.
Bank Debts Gain.
The United States Department OF
Commerce reports that for the week
ending November 8. 1880, bank debts,
outside of New York City. registered an
increase over the preceding week, but
were lower than the corresponding pc
Rod in 1929.
stock prices and bond prices were
both lower than for the preceding week.
Wholesale prices remained about the
same. while the price OF wheat at KAN
sas City, cotton at New York. and iron
and steel products all fell OF to lower
level than that of a week ago. Receipts
Of cattle and hogs at the principal
markets increased q little. but declines
were noted in the production Of steel
ingots, bituminous coal, petroleum and
lumber, carloadings and building con-
tracts.
No sign yet OF increased business ac-
tiyityl
Proper Loans.
Down, down, down go the brokers
loansl Last week. for the seventh con-
secutive week. they made a big drop.
100000, dropping to $2,235. 900, 600,
lower by $l74,000, 900 than the previous
low record of May 10, 1926.
What's back Of the declining brok-
ers' loans? During the past two months
a constant and continuous liquidation
OF speculative accounts has been going
on. The weekly statements of the IL
UduhS III Ll1t EG0tEdl tt-StEbc OyStCAtA
last week showed a decline in redis-
counts of about $21, 100000. But an in
crease in acceptance holdings of about
the same amount squared that.
Until the distressed marginal accounts
are cleaned out the stock market will
continue to drag But. remember stock
buying today is largely on a cash basis.
The market technically is getting strong
er and more healthy every day.
Cheap Money.
Is money cheap? 1t certainly is-for
short-time obligations. This is shown
IN the bids for the recent $125, 900 900
United States Treasury bills.
These bills vii. carry an average rate
on bank discount basis OF / 10 per cent
per annum. That's dirt cheap. But
understand. they are short-time obliga-
tons, 91-day maturity. Are the popu-
ular? Look at the record. which shows
q total of $56s 5000 applied for.
Short-time money. can be obtained by
the bushel but long -tinle money-well,
try to get It!
tcopyright 1880. by the North American
Newspaper Alhance.)