Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-17
Washington Ticker
BY CHAS p. SHAEFFER,
Associated Press Financial Writer.


Long term State and municipal bond
issues floated during April eclipsed all
previous records for this period with a
total of $141 ,123, 900. This is held by
the Associated General Contractors OF
America, which announced the figures,
to presage a greater volume OF public
works and engineering construction In
1880 than ever before.
Aprils totals, together with the I'M
usually large amounts during the f1rst
quarter of the year, brought the first
four months aggregate to $452, 442 600,
the associations compilation discloses.
The monthly average of $113.110,50o
being maintained represents an increase
of more than SIS, 000,000 monthly over
the comparable period of last year.
Under the stimulus of easier f1nanc-
ing through bond issues" says the asso-
| citation, public works and engineering
projects will do more than any other
type of the industry's activity to sustain
the 1880 volume of construction very
nearly to the average for recent years"
The contractors organization views
the future with optimism. with the
large holdover demand for public i'm
provement projects being adequately
cared for, and with schedules for fu-
ture projects being advanced in accord
ance with President Hoover's policy of
are that the original 1880 estimate of
total expenditure of $1,614, 100000 for
public works and utilities will be ex-
ceeded," they declare.
Leading banking authorities Of the
Nation will confer in this city on May
l9 and 20, the occasion being periodic
meeting of the Federal Advisory Council
This council was created by the Fed
eral Reserve act, and comprises one rep
resentative from each of the Federal
Reserve districts, or II in all: The
duties, briefly, are to confer on all mat
tiers pertaining to banking and to make
such recommendations as they deem
remedial to the Federal Reserve Board.
While all meetings will be executive
sessions, it is believed the credit situa-
ton will be gone into thoroughly and
a policy recommended for best meet
ing the conditions in that market.
Members comprising the council are
Herbert K. Hallett OF Boston, William
C. Potter of New York City, Levi l..
Rue of Philadelphia, Harris Greech of
Cleveland, John Poole of Washington,
D. c.; j. P. Butler, jr., of New Orleans;
Frank O. Wetmore of Chicago, Walter
w. Smith of st. Louis, George H. Prince
of st. Paul, Walter S. McLucas of Kan
sas City, Mo-; B. A. Mckinney of Dali
las, and F. L. Lipman Of San Francisco.
Railroads of the country are already
| making plans for handling the sea-
sonal crop movement which begins In
about month.
officials of the American Railway
Association, meeting in Chicago, have
advised local headquarters that rail
equipment Is in best physical condi-
| ton in years, and will be adequate
barring abnormal delay at loading or
unloading points. AS has been custom
airy in recent years, empty cars adapted
to the loading Of grain are being re-
| turned as rapidly as possible to their
| home roads in the grain-raising States
so as to be available as soon as the
crop movement begins.
Preliminary forecast of Winter wheat
production in 1880 indicates a crop 5
per cent less than the last two years,
but about equal to the five-year average
Of 1924-28. Growing conditions the
| last so days in the areas Of principal
production have been relatively unfa-
| vorable. Spring wheat acreage is ex-
pected to be slightly less than last year,
with generally favorable weather con-
ditions to date.
| While the association is making no
effort to gauge accurately the volume Of
wheat it will be called up to move, it is,
nevertheless, anticipating an average
crop movement.
The Department of Commerce report:
gross earnings of 95 utility systems In
March were $199 ,000, 900, as against
s195, 600, 900 the corresponding month 6
year ago. Net earnings for the two
periods were $4,000, 900, against $685.
600, 900, respectively.
Brazilian scientists hope to save theil
threatened coffee crop through the ust
of an insect army, according to govern
ment trade dispatches.
These insects are known as "propropi
nassuta," and are reported to be dead.
enemies Of the coffee pest (stephano
dores).
The seriousness Of the evil is viewet
with much alarm. It was first observed
In 1927, affecting Is regions. The terri
tory was increased to 10 regions the fol
lowing year, while in 1929 the pest hat
infested 30 areas, embracing 3844 of tn
total 10,486 plantations under cultiva
ton.
Great Britain plans to develop the en-
tire trade Of the empire through crea
ton of an empire trade assembly,, organi
cation of which is now under way.
, According to the Department OF Com
i merce, the body will be comprised o
trade delegates from every British do
{ minion, with duties similar to those o
r%ff HNa Taa