Evening star., 1937-07-12

Jesse H. Jones. .I,.
mold and there is scarcity of plants
In some sections, but otherwise the
agricultural outlook for production is
much better than it was a year ago
There is plenty of moisture in the
soil
The price situation is reported as
less favorable, but agricultural author
tiles take the position that Increased
production for most crops will COM
pensate for lower prices. That means
that buying power in this district
will be at a very satisfactory point
this Fall The report adds:
Probable production figures for
wheat are now available, and are as
follows for 1887 and 1886, respectively,
in fifth district States: Maryland,
s.234OOO bushels and 8,9So,ooo
bushels; Virginia. 100000 bushels
and 1852, 900 bushels West Virginia,
2,262O0O bushels and 2,025,00O
bushels; North Carolina, 6648,000
bushels and 5,194,OOo bushels. and
South Carolina, 1,748,oOO bushels and
l,472,O0O bushels The district total
production of wheat this year of 29,-
100000 bushels is l4.4 per cent larger
than the 1886 crop of 25,533,0o0
bushels"
Jones on Insurance Program.
Jesse H. Jones, chairman OF the
Reconstruction Finance Corp. will
be one of the nationally known
speakers to address the Denver con-
vention of the National Association OF
Life Underwriters next month, it was
announced today by Program Chair
man o. Sam Cummings.
Another speaker outside the insur-
ance field will be DR.. Glenn Frank
OF Madison, Wis, who will discuss
"Insuring the Nations Future" The
program, which will draw many
underwriters from Washington, is
now completed.
Only II of the 36 speakers will
present prepared addresses. The
others will contribute individualized
insurance ideas in brief form.
Busy Third Quarter Seen.
In view of the success of the back
to-work movement in the steel in
dustry, and the fact that labor
leaders are apparently beginning to
realize the extent to which public
opinion is turning against the c. I. O.,
at least some temporary improvement
in the labor situation is likely over
the next few months, says the United
Business Service in its report today.
The service concludes that, due to
legislative uncertainties. the current
labor situation and seasonal factors,
a further moderate decline in busl-
ness may be expected during July
and August. However, activity in
the third quarter should continue to
hold above the same period last year.
Chipman Bullish on Market.
G.. Bowie Chapman, manager OF the
Washington office of Laidlaw & Co..
left the Capital early this afternoon
for New York, planning to sail We'd
nesday for two months stay in Europe.
His destination will be one of Ger
many's health resorts. the same one
that he visited last year.
The Washington broker is highly
optimistic on the outlook for the New
York Stock Market. Il believe the
market will see higher prices in Sep
tember than are now prevailing" he
said. II look for good Summer
market"
He bases his prediction on the busi-
ness outlook which he considers as
particularly good, heavy advanced
orders for steel being one of the best
signs, he says, some of the biggest
corporations having ample orders for
the rest Of the year.
Mr. Chapman is now the dean of
the Washington brokerage fraternity,
having been engaged in the business
longer than anybody else in the flnan-
cial district. He has held this dis
tinction since the death of the late
w. B. Hibbs.
Chicago Sales Lead Nation.
The Federal Reserve Board reports
that retail sales in June, 1886, and
the first half of this year were 7 and
IL per cent higher than in the corre-
spending period last year, the largest
increases being in the Midwestern in
dustrial districts. The Chicago Fed
eral Reserve district led the country
in June with l3 per cent gain. The
Richmond district, which includes
Washington, experienced a per cent
gain.
The percentage changes in June
and the first half of 1887, in IL Fed.
eral Reserve districts. compare al
follows with the same period in 1886