Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-22

A distinct relationship, based on al
least two important economic factors
is seen by Capital observers In the
analogous trend In the prices Of silver
and OF wheat.
The great wheat growing countries
Of the world, observers point out, have
. monetary standard Of gold, whereas
Q vast consuming market In india and
the Orient Il still on Q silver basis
Therefore, with silver selling at q low
level. tho purchasing power Of these
foreign markets Is seriously curtailed
and the natural result Of this lessened
buyin@ Is an unnnarketable overproduc-
ton IN the important wheat growing
nations notably the United states
The Orient, with its huge popula.
ton, does not hold wheat In the higl,
favor enjoyed In this country, but
nevertheless 1t In "a important com.
modify item. Thus pared consumption
In India and other parts Of the Orient
has Q telling effect In world wheat
growing communities.
Testimony was given by . railroad
representative at recent considera-
ton Of the rate structure on nom
ferrous metals BY the interstate Com
nerce Commission that several factors
were holding down the freight rates IN
this country On these products.
There are In the background Of this
case competitive influences, which, II
Is alleged, hold down the rates." he
said, which rates would otherwise be
higher. One Of these is the bringing
In Of copper, lead and zinc and other
nonferrous metals BY water. either
from other parts OF the United States
or from other parts Of the world"
In denying they were holding down
the rates, the shippers said their
production In foreign countries was
ilnnaterial TO the case. They commended
the foreign imports were competitive OF
American production. The shippers
inquired whether the carriers expected
them to pay higher freight rates or b
close American mines and get ore else
where. They pointed out that foreign
production Of copper which enters tia
United States contributes to the eco
nouiic prosperity Of the country and h
the transportation systerns. It wa
testified also that Il d natural for the
sphere, which have no refineries. to shir
ores to the United States since America
has the greatest refining capacity Of any
country In the world.
Carriers submitted data on the imam
cial position OF o group OF mining
smelling and refining companies II
which Il was shown that 20 Of 81 Arms
had an accumulated surplus Of $685.
43e,iT6 In 1928, or SO per cent more
than In le27. Ten non.ferrous metal
ana alloy manufacturing companies hae
q surplus OF Ss6.7Ti,96e, or IL per cent
more than the previous year; OF 61
taken depreciation and depletion into
account In their financial set-up. II
was said these companies employed "a
different ways In charging these de-
ductions 10 income account.
A new Interpretation Of the Chinese
customs tariff, given recently by the
customs authorities Of Shanghai to
clarity what Is meant BY wholesale
market value" nodifies the method Of
assessment Of import duty on motor
vehicles. Henceforth import duties on
motor vehicles will be levied on the
basis of elf. true invoice, plus per
cent, it being understood that the term
cost" Is to mean not less than fob
published factory price less regular deal
er's discount.
Previously, for purposes Of customs
valuation, the wholesale market value OF
motor vehicles imported into China wa
determined by the addition Of 10 per
cent TO the elf. invoice value.
silver stocks in shanghai totaled
ala, 400,0 900 taels on August IL, of which
124, 50o,000 taels were held in native
banks. The corresponding figures for
August Z, as reported by the Commerce
Department, were 2l3,A00,0O0 taels and
122, l00, 900 taelS, respectively.
Sycee and silver bars were valued at
ITO, SOC, 900 taels on August ID, an in
crease of 100000 taels. The total num-
Der OF silver dollars in Shanghai on
August IA was lac, 100000.
American electrical equipment exports
reached Q new All.time high record
during the frst half Of 1880, the De.
partmennt Commerce reports. The
total recorded was ST. .149,5s5, as COM
pared with $7o,s14,ss9 for the cor.
responding half Of last year.
current years period were made by
hashlight batteries, washing machines,
vacuum cleaners and power and dis
tribution transformers.
Shipments Of radio apparatus
amounted to $7,s9o,o0l during the nrst
half, as compared with e6,076,o 0I last
year. The combined total for electric
household refrigerators and electric
commercial refrigerators up to one ton
amounted to 5000, 1892 in the current
years period as compared with $685.
100 for last year.
Shipments of hashlight batteries ag-
gregated 1888, ats. and electric wash
ing machine exports amounted to 9D64,-
628. Shipments Of power transformers
of 500 kilo volt amperes and over,
totaled $1,628, TOO, while distribution
transformers of less than 500 kilovolt
amperes, aggregated $1,269,550
A gain Of per cent In quantity and
per cent in value Is shown in the
exports Of meat from the United States
during the fiscal year ended June 80
last, as compared with the previous
year.
The total cusntity shipped aggregated
<36,S0e pounds. with value OF S7e,-
$4,000. as compared with sos, $50, 900
pounds, valued eat &75,662. 900, tor the
previous comparable period.