Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-28
PRICE
ADVANCE IS RAPID
Wall Street Encouraged by
Recent Gains in Raw Ma
teriaI IndiceS.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June commodities
the advance of which more than any
thing else would lift the world out OF
depression, by their action since the
debt holiday proposal Of President
Hoover have heartened Wall Street even
more than the strength Of bonds and
shares. The financial district realizes
that commodity price levels are the
most important social factor in modern
economics.
The various commodity averages for
the last week show a gain Of more than
a point, according to compilations pub
lished today. The best group advances
were made by farm and food products,
with metals, fuels and other divisions
sharing in the upSwtng.
Advance In Silver.
Silver, because it affects the pur-
chasing power Of millions OF people,
perhaps has had the most far-reaching
an ounce in the last week. In world
markets silver was marked up cents
Tuesday, the widest appreciation Tor
any one day in 80 years.
Although wheat and corn did not re-
tain all Of their gains made between the
close last Friday and the opening Of to-
DAYS markets, both barley and rye are
on the average up more than a cent
bushel. PORK loins wholesale are up
about cents pound and prime west.
ern lard about u cent. Fresh eggs OF
first quality are up "a cents dozen,
and Wisconsin cheeSeS command about
"a cent a pound more than they did a
week ago.
Extra fine creamery butter in prime
markets is quoted at "a cents, up u, a
pound. Raw sugar, duty paid, is up 5
cents, and Santos coffee No. is up
IA cent a pound. Cocoa (accra), around
6 cents, shows an appreciation OF "a
cent a pound. Thus far cannery prod
ucts, such as peaches, tomatoes and
salmon, have not changed their price
levels. though a few fruits, including
California cherries, are higher due TO
crop conditions.
Midland cotton in Galveston is quoted
at $50 cents, against $50 at last Fri
DAVIS close. Woods have firmed in the
Boston market. Native steer hides here
bring 1917 cents, against 10 week ago.
Silk, crack double extra at 2.45 to ESQ
compares with 2.25a2.30 a week ago.
Burlap, 1914 ounces, 40-inch, is down
S points, due to trade developments IN
that industry in India.
Copper Price Higher.
Copper, after making low price rec
ord of 734 cents a pound last Friday,
opened at 834 cents pound for cleo
trolytic in the Connecticut Valley yes
terday. Meanwhile brass and copper
products have been marked up several
times successfully, though copper SUI
phate, over in the chemical division, re-
mains unchanged. Sales of copper be-
tween last Friday and Thursday, in
elusive, Appropriated 00,000 900 pounds,
the largest week thus far this year. or
this amount, around 100000 pounds
were for export and more than 1O6,OO0,-
900 for domestic purposes. This pick
up in demand may keep In operation
some mines that had planned to close
down July /.
Sales of lead for the week ended We'd
nesday amounted to 1880 tons, a new
high record, comparing with the pre-
vious record of IL 900 tons for the week
ended July 80, 1880. Meanwhile pig
lead rose from 3.75 to 4.40, or around
So a ton, which was reflected In the
prices asked for oxide paints. Zinc in
East st. Louis was quoted at $50 to
1865 at the opening today, compared
with last Fridays close of $50 to 3.35.
Tin in the Straits Settlements was
Z4.Z5a3U, against ZZ.f0 laSL week. 0LSel
and iron products show little change,
Though here and there some prices con-
tinue to be shaded,
Over in the textile markets 36i2-
inch print cloths are quoted at 5 cents
a yard, against Az week ago. Sales
of print cloths, including some broad
cloths, since Saturday are estimated at
100000 yards.
Rubber and Silk.
Plantation rubber is quoted around
6 9-16 cents pound, against 6 Lis a
week ago. This has caused tire manu-
facturers, in view of the advance also
of cotton. to consider higher quotations
on tires.
Sales of silk on the National Silk Ex-
change Thursday reached 3.740 bales,
the largest days volume of the year to
date Silk sales since last Friday total
1870 bales, sugar sales in the same
period were 215,500 tons and coffee sales
10000 bags.
The price Of wholesale cigarettes was
advanced As cents a thousand, though
thus far tobacco prices have not been
increased. A few gains in coal prices
were due to strikes.
Next weeks commodity index figures
should show the largest average gain
this year.
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