davidaulloa/AmericanStories huggingface dataset:
The Wilmington morning star., 1940-11-17
Weeks Dividend Meetings
BY FITCH INVESTORS SERVICE
FURNISHED by Allen G.. Ewing & Coz

Among the important companies
which will hold dividend meetings
this week are Alpha Portland c.
ment Co., Brunswick Balke-Collen-
der Co., Congoleum-Nairn. Inc, du
Pont e. ~ de Nemours & Co., In
ternational Business Machines Corp,
Keystone Steel & Wire Co., Lorillard
(P) & Co., Penick & Ford, Ltd, Texas
Gulf Sulphur Co., Union Pacific r.
r. Co., and Youngstown Steel Door
Co. A list of the meetings of COM
panies definitely scheduled is as fol-
lows:
Monday
Brunswick-Balke Collender Co. ($5
Pfd. & Com.)
California Ink Co., Inc. Conn
Cutler-Hammer, Inc. Conn
du Pont &c. ~ de Nemours & Co.
($4.50 Pfd. & Com.)
Hall CIV. F.) Printing Co. Com
Household Finance Corp. $50 Pfd.
& Conn.,
Johns-Manville Corp. 100 Pfd. &
Conn.,
Public Service Electric & Gas Co.
($5 & 7R Pfd)
Sutherland Paper Co. (Com.)
Tuesday
Atchison, Topeka & santa Fe' Ry
Co. $50 Non-Cum. Pfd.)
Billiard Co. (Com.)
Chesapeake & Ohio Ry. Co. NR
Non-Cum. Ser. "a" Pfd. & Conn.,
International Business Machine:
Corp. Conn
Kennecott Copper Corp. (Com)
keystone Steel & Wire Co. Conn
Kimberly-Cl Clark Corp. (6% Pfd. {
Conn.,
,Newmont Mining Corp. Conn.,
Paraffine Co.'S, Inc. (4% Pfd. 4
Com.)
The Wilmington morning star., 1940-11-17
MINOR DECLINES
LISTED IN BONDS
Weekend Profit Taking Makes
Slight Inroads On
Rails

NEW YORK, Nov. 1e.-R-
Minor declines held sway in d quiet
bond market today.
Some of the recently advancing
rails encountered weekend profit
taking but found enough support
to keep losses in most cases to
small fractions. A few definitely
weak spots cropped up in the for
eign department, notably Denmark
IS, which yielded Z ga points on
sale of 4 bonds.
Corporate obligations inclined tt
retreat included Western Union IS
at So rs, Studebaker IS at lot IA,
Southern Pacific 4 LIS at 80 IL,
Nickel Plate 5 LIS at SO, Missouri.
Kansas-Texas IS at 9 IL, Great
Northern As at los ID and Allegheny
stamped IS at So ga.
Offering more resistance were,
among others, Anaconda Copper
LIS, Chicago & North Western
3-4s, Detroit Edison 4 LIS and Stan
dard Oil of N. J. 2 3-4s.
U. S. governments ended 1892 o.
a point lower to 5-32 higher in ex'
tremely quiet trading.
Losing major fractions to more
than a point in the dollar division
were Abitibi Paper SIS, Italy Is, ia
pan 6 lbs and Panama IS. Ahead
were Argentine IS and German
5 lbs.
Sales of $3,e3O,2O par value, com
pared with s5,5o5, $50 last Saturday.
The Wilmington morning star., 1940-11-17
POTATOES

CHICAGO, Nov. 16.- Up Gu. S.
Dept. Agr.)-Potatoes, arrivals 106;
on track 269; total US shipments
645; supplies moderate, bliss tri-
umphs demand fairly good; firm;
Idaho russets demand moderate;
steady for best quality; northern
cobblers demand light; steady;
sacked per cwt., Idaho russell Bur
banks US 1, 1880; Colorado red
McClures US 1, LAT -; Nebraska
bliss triumphs IS per cent or more
US l, 1.65-S5; Minnesota and North
Dakota cobblers IS per cent or more
US l, .95-1.05; bliss triumphs IS per
cent or more US /, 1.1O-35; Wiscon-
sin green mountains US 1, 10.
The Wilmington morning star., 1940-11-17
E EXCHANGE

NEW YORK, Nov. 16.-R-The
free Argentine peso slipped 1-20 cent
to 1850 United States cents today
while the foreign exchange market
waited word from Washington on
outcome of a meeting of Argentine
and federal officials over mutual
economic problems.
The Shanghai dollar, up most OF
The week, dipped 1-20 cent to 6.07
cents. The Canadian dollar inched
Up 10 ST 1-16 cents. Free sterling
held at S404.
Closing rates follow Great Britain
IN dollars, others in cents.
Canada; official Canadian control
hoard rates for U. S. dollars: Buying
10 per cent premium, selling II per
cent premium, equivalent to dis
counts on Canadian dollars in New
York Of buying 9.91 per cent, selling
500 per cent.
Canadian dollar in New York open
market u 15-16 per cent discount
Or S7.O6 IA U. S. cents.
Europe: Great Britain, official,
i6ankers foreign exchange commit
lee rates., buying $4.O2, selling s4.o4;
open market, cables $4.04; Germany
490Tn; (benevolent 1880; Finland
I''2n; Greece. 6Sn; Hungary 19.5On;
llaly SOC; Portugal 400 IL; Ru'
mama .4S n; Sweden 1887; Switzer-
land 25,2l: Yugoslavia 2.35n.
Latin America: Argentine official
A'7; free 1850; Brazil official sos;
Tree 800; Mexico 20.5.
Far East: Japan 23.48; Hongkong
Z5,75; Shanghai COZ.
Rates in spot cables unless other
wise ~lndicated.) Nominal.
The Wilmington morning star., 1940-11-17
Small Losses In Manv
Stocks Shown This Week
p..etion Is Attributed To
Now Nervousness Over
European War
~

NV YORK, Nov. 16. - GA
N Ino week for the stock market
DS"t, rst in five-was concluded to-
h with rails, motors, aircrafts
dss wide assortment Of indus
'l!o1s hosting closing losses of frac-
4,n 10 8 points.
h1 nrices softened from the start
laws for the brief session were
aaa m in the final hour. Elk
les declines were reduced a tri-
1s at the finish:
III War Tension
Brokers attributed today's reac-
..n mainly to the revival of nerv-
t s.ness over foreign affairs,
o ousn traders tightening accounts
. ID the weekend recess because
10 +be intensification air raids
o. srer England and fears the Axis
wv s.,-prs we're planning more severe
s paws at the finish. Business news
..;I1 was on the bullish side but
s s.;I.d as a strong buying pur.
5' The Associated Press average
a. stocks was off 3 of a point
uS4 and on the week was down
o. noints. the biggest weekly re-
~. ...sion since mid = September.
nnring the five-day stretch the
D-so;+a never produced a plus
sEI family encouraging factor in
+,s DAYS proceedings was the
s Ls of volume on the re.
.raat The turnover of 488, $40
sbares compared with 1889, 290
iss+ Saturday and was the first
IL, under the million-share mark
IN ten consecutive sessions.
Favorable straws in the days
dsalings we're forecasts Of anoth-
er record peak in next weeks mill
ooerations. exceptional high sales
and production in the motor indus
fry heavy demand for copper,
h,iee backlogs for the aircraft
MAKERS. substantial Improvement
in department store sales over
last wear and indications defense
snending would be stepped up to
huge proportions.
Allied Chemical and Douglas
Aircraft dropped 3 points each.
Lesser losers we're U. S. Steel,
Bethlehem. Chrysler, General Mo-
tors, j. I. Case, Westinghouse,
Standard Oil of N. j., Anaconda,
Kennecott. American Smelling,
Sears Roebuck, U. S. Rubber and
American Can.
Rails and utilities held declines
10 negligible amounts. Among the
few issues that retained modest
gains were Union Carbide, Ameri-
can Telephone and Du Pont.
The Wilmington morning star., 1940-11-17
INDUSTRIES FALL
BEHIND ON ORDERS
Slow Deliveries Spread From
Steel To Wool, Rayon
Cloth
BY FRANK

NEW YORK, Nov. 16.-R-The
war came closer to the average con-
sumer-and his pocketbook-this
week as the effects of the defense
spending whirl began to spread from
steel and the heavy industries to
things like the wool and rayon cloth
which will go into next falls suits
and dresses.
Trade surveys showed the wooden
goods business had increased its or
ders on hand by about 60 per cent
in the past five weeks, and few
mills were willing to promise deliv-
cries before next June, some even
later.
Little Worried
Wholesalers were little worried
that the huge demand for fabrics
would show it's effects in retail de.
liveries and prices for the time be-
ing, for clothing manufacturers have
pretty we'll covered spring and sum.
mer requirements. But by next au'
tumn, if demand continues apace
things may be different.
Meanwhile rayon mills were rush
ing along at capacity and appeared
to be headed for the greatest out
turn in their history this year. De
spite pushing plants to the limit
producers were said to have Oh hand
only about one weeks normal con
sumption, instead of the norma
thirty days supply.
Part of the answer appeared tt
be precautionary buying by makers
of civilian clothing who wanted tt
be sure government orders would
not come along to delay their ror'
NAL operations.
Some of it, trade sources said
was attributable to the greater rate
at which retail stores were selling
clothes as industrial payrolls, es'
pecially in the areas where defense
orders are pouring in, continued te
swell.
More Jobs
With general expectation that en-
ployment will continue to increase
for months to come plans were laid
for a brisk business next fall ant
winter. That conclusion appeared te
be borne out by trade reports thai
wholesalers were generally more &C
tive than retailers, although the lat
ter were under the handicap OF
storms and bad weather in many
sections this week.
But even as consumers goods lines
turned more active, heavy industry
continued to grind along at a near
record pace.
Symptomatic of what appeared te
lie ahead in this sector was the
announcement of U. S. Steel Lorp
that it was increasing steel lngo'
capacity at its Birmingham prop
erty. Estimated expenditure Cor the
expansion program was $25,OOO'ooo
Some steel men saw this announce
ment as extremely significant, since
there has been no net gain in the
ineot capacity of the country 1ol
years.
The Wilmington morning star., 1940-11-17
CASH GRAIN

CHICAGO, Nov. 16. Up Cash
wheat, no sales reported. Corn OLD
No. 1 yellow 70 IL; new No. 4 mixed
Ct 3-4-69 IA; No. 2 yellow 81 1-2-eS;
No. 8, sc 1-4-3-4; No. 4, 62-04 So
No. 5, 61-e2 IL; Mo-. white 10 Ia
sample 1854 ga.
Oats No. / white 40 "a; No.. l
white heavy 40 -; 40 "a; NC. q
40 1.4.s-4; No. 1 red heavy Az IT,
soybeans No. 2 yellow 1.o1 IL:
Barley mailing 5o-64 nom; 1eeo
38-48 nom.
F;e1d seed per hundredweight nom
inal; red clover S.oo'lo'oo' s" es i.
clover 3~.50-4.O0; timothy seed 80
a1sike s%.oo.11.oO; fancy red top 10y
500. la. 5..
The Wilmington morning star., 1940-11-17
III

NEW YORK, Nov. 16-R-After
d steady opening detachable cotton
Need oil futures turned down in SYM
pathy with securities today, ending
l 10 4 points lower. Weed end real
'lns and refiner hedging outweigh
sl local buying prompted by firm
Ness in crude oil.
crude oil traded at 5 cents in the
sVuVheast, 4 rs in the valley, and
: "a cents in Texas.
The Wilmington morning star., 1940-11-17

Penick & Ford, Ltd, Inc. Conn
Pet Milk Co. Conn
Public Service Corp. of N. ]. $50
Pfd. & Conn.,
schenley Distillers Corp Is 1-2m
Pfd.)
West Virginia Pulp & Paper Co.
Conn
Yale & Towne Mfg. Co. Conn
Youngstown Steel Door Co. Conn
Wednesday
Alpha Portland Cement Co. Conn.,
American Sugar Refining Co. 79c
Pfd.)
American Telephone & Telegraph
Co. Conn
Congoleum-Nairn, Inc. Conn
Continental Oil Co. Conn
Kansas City Power & Light Co
t$6 Pfd. "B").
Liggett g. Myers Tobacco Co. 0@
Pfd.)
Lorillard F.) Co. 0% Pfd. & Com
Magma Copper Co. Conn
Raybestos-Manhattan Co. Conn
Talcott (James), Inc. Is 1870 Pic
Pfd. & Conn.,
Texas Gulf sulphur Co. Conn
Union Pacific R. R. Co. 4% Pfd
& Com.)
Union Pacific R. R. Co. N% Pfd. &
Conn
U. S. Tobacco Co. (7G Non-Cum
Pfd. & CONF
Thursday
Lily-Tulip Cup Corp. Conn
Friday
Armour & Co. of Del. G% Pfd.
Electric Storage Battery Co. (Ptc
Pfd. g. CONF
General Telephone Corp. &2.5(
Cum. Pfd. & Com.)
Philadelphia Dairy Products Co.
line. (S6 Pr. Pfd.)
The Wilmington morning star., 1940-11-17
BALTIMORE HOGS

BALTIMORE, Nov. 16.-R-(U.
S. Dept. Agr.) - Hogs - 12,OOO.
Steady with Friday; butchers 18o
lbs. up and packing sows Sc low
er than Thursday, lighter weights
steady. Good and choice 180-24O
lbs. 6.30-6O; practical top $50;
1eO-18O lbs. 6,2O-45: 140-16o lbs.
6.10-35; 10000 lbs. 6.05-30;
130-140 lbs. .5.90-6.15; 120-130
lbs. 5.70-95. Packing sows 5.15--
IS. Compared week ago: Mostly
15-20c lower.
The Wilmington morning star., 1940-11-17
LIVE POULTRY

,mh 1" YORK, Nov. 16.-(R-Live
cbaiS' by freight, about steady
. and leghorns IL
colored q; leghorn checks
.d and leghorn IL. Fowls, color
Nh ieShorn u. Pullels, rocks %.
,sr 'oosters IA. Turkeys, 9 cars.
- toms 10; 2 cars, hens "a,
9 w l car, hens rs, toms 20.
The Wilmington morning star., 1940-11-17
Lads Of II May Join
Navy For Three Years

WASHINGTON, Nov. Is. Up
The navy lowered from 1S to II
years today the minimum age for
enlistments.
Secretary Knox announced that
youths between the ages of II and
IS would be accepted to serve until
their 21st birthday. They must ha'
consent of their parent or guardians.
Older recruits must sign up 1or
civ &roorS
The Wilmington morning star., 1940-11-17
STOCKS IN THE SPOTLIGHT

NEW YORK, Nov. 16.-R9-Sales
closing price and net change of the
fifteen most active stocks today:
US Steel, II. 000-71; dix.
Repuh Stl, Is. 900-22% DIS.
Gen Motors. 14.4O0-50k; d1k.
Anaconda. TO- OO-28B; dh.
: Curtiss Wright, S,7o0-10; no.
Cont Motors, 7,000-3B; dis.
Penn RR, 7.000-25; DIS.
Gen Elec, 6,600-35; no.
NY Central, 6,5OO-15: DIS.
US Rubber, 6,OO0-24%; da.
Boeing Arp. 5.60O-19A; d1a.
Chrysler, 5.600-79h: dis.
Int Pap and Pow. 4,9O0-16A; dA
Pac Tin Cons, 4,S0O-5; an.
Betl. Stl, 4,700-S7A d1.
The Wilmington morning star., 1940-11-17
AVERAGE

NEW ORLEANS; Nov. 16.-eR3-
The average price Of middllng 10
1sths-inch cotton today at ten deslg-
mated southern spot markets was 4
noin+s lower at 9.71 cents a pound;
average for the past 80 market days
40 cents. Middling ~7-Sths-inch av'
erage $50 cents a pound.
The Wilmington morning star., 1940-11-17
Ninth Victim Of Blast
At Signal Plant Dies

WOODBRIDGE, N. j., Nov. 49,
lR-The death toll of the violent
explosion of the United Railway Sig.
nal corporation plant reached nine
today when Miss Elizabeth Fitz.
patrick, %, of Port Reading, died of
barns in PePrth Amboy general hos
pital.
The Wilmington morning star., 1940-11-17
SUGAR

NEW YORK, Nov. Is. -CP-
World sugar futures closed un
changed to 1 IL points lower today
under December liquidation in an
ticipation of issuance of 1O4 trans
ferrable notices Monday. Sales TO
tailed 6,150 tons, Dec .75b, Mich
70 LIB.
The Wilmington morning star., 1940-11-17
METALS

NEW YORK, Nov. is. - @ -
upper steady; electrolytic spot
yum, valley 1910; export FAS N.
~ lV.oo-1l.0O. Tin steady; spot
T4lu nearby $3.50; forward 50.15.
soo ou Steady; spot, New York
0O7o'; East St. Louis 5.65. Zinc
ta saoy; East st. Louis spot and
s m#dro 7.25. Pig iron, aluminium,
%;nllohy' quicksilver, platinum,
so l.'ieSe Wolframite and domestic
'N'1eellte unchanged
The Wilmington morning star., 1940-11-17
Local Stocks
And Bonds
STOCKS
fluctuations furnished by Allen C.
Ewing and Coz

STOCKS
Bid Asked
a. Z: l.. GO. of Conn. - liz 1874
Car. ms. Co. of Wilm. 2SN 29h
Car. p. and L. Co. 81 Pr. 109 110k
Car. P. and L. Co. Sc Pr. los 1917
Mass. investors Trust = 1877 20.1S
Peo. Saw. B. and T. Co. 80 80
Rem. Arms Co., Com. -! 81 81
Sec. National Bank of G. 1914 II
Taylor-C olquitt Co. 800 20 81
L. w. Pow. Co. Sc Cum.
Pfd. -- 80 40.
vii. Saw. and Trust Co. 80 80
BONDS
Bid Asked
A. c. L. RR., First Cons.
Mtg. as due 1852 - es% ssM
A. c. L. RR., L. and N.
Coll. Trust As due 1852 Sc 68
A. c. l.. RR., Coll. Trust
5's due 1945 --------- Il TN
A. c. L. RR., Gen. Uni.
Mtg. AVIS due 1864 - 54k 55k
Fla. East est. Rwy., LIST
and Ref. SIS due 1874 7% 8
c. and w. Caro-. Rwy.,
list Mtg. SIS due 1916 1O1k 1921
(All quotations nominal and are
subject to change without notice.)
The Wilmington morning star., 1940-11-17
. COTTONsEED OIL

NEW ORLEANS, Nov. 16.-R-
Cottorseed oil closed steady.
detachable prime summer yellow
sos nom; prime crude 1852 LIB.
Dec. 5.27b, an. 5.33b, March 5.45b,
May 5.53b, uly 5.60b.
The Wilmington morning star., 1940-11-17
SPOT

NORFOLK, Va, Nov. 16. R-
Spot cotton s points lower. Middling
fair 1880; middling 9.75; good ordi-
nary $50. Sales 143 bales, receipts
so, shipments 46, stock 31,746.
The Wilmington morning star., 1940-11-17
RITTER AND EGGS

CHICAGO, Nov. 16.-CP-Butter,
receipts 522, 359; firm, market un-
changed.
Eggs, receipts 1870; firm; mar.
ket unchanged.
The Wilmington morning star., 1940-11-17
N q SPOT

NEW ORLEANS, Nov. 16.-R-
Spot cotton closed steady 4 points
lower. Sales 2,844, low middling
$3.50, middling 9.84, good middling
1 .34, receipts 1856, stock 529, 947.
The Wilmington morning star., 1940-11-17
COFFEE

NEW YORK, Nov. 16. - R -
Trade in coffee futures came to a
dead stop today while the market
waited for further news concern
ing establishment of a quota sHs-
tenn.
The Wilmington morning star., 1940-11-17
BTEACHARIE

Blea" YORK, Nov. 16. -LP-
.'lanle cottonseed oil futures
w. IA lower. Sales IS contracts.
M '.oo' Jan 5.S1b, Mch 5.93b, May
w; July $40.
Ibid.
The Wilmington morning star., 1940-11-17
e
Soybean Prices Jump
5 Cents A Bushel

CHICAGO, Nov. 16.-LP-Soy-
beans prices shot up almost 5
cents a bushel today to above 81
on the Chicago board of trade.
The Wilmington morning star., 1940-11-17
CHICAGO GRAIN

CHICAGO, Nov. 16.-R-Wlp-
ing out an early loss of almost a
cent, the wheat market rallied
strongly in late rading today and
closed with gains of about a cent.
Wheat closed Sd 1-8 higher
than yesterday, December 80 r.
SO, May 89 1880; corn 1-4-7-8
up, December 81 1873, May
IS 1-4-1-8; cast 1913 higher.
Open High Low Close
The Wilmington morning star., 1940-11-17
PEANUTS

SUFFOLK, Va, Nov. 16.-RH
Peanut quotations: Jumbos 3 IL
to 3 SO; bunch 3 1-8 to 3 IA; run
ners 3 to 8 1-8. Market firm
The Wilmington morning star., 1940-11-17
N. C. HOGS

RALEIGH, Nov. 16. Up -
(NCDA)-Hog prices were steady
at a 5.85 top at Rocky Mount to-
day.
The Wilmington morning star., 1940-11-17
LARD

CHICAGO, Nov. 16.-lR-Lard
tierces 4.80; loose 4.97; bellies
1925.
The Wilmington morning star., 1940-11-17
NEW YORK COTTON

NEW YORK, Nov. 16.-lA9-Cot-
ton futures reacted sharply To-Day
after an early advance carried the
list further into new high price ter
rttory for the season.
Unwillingness Of mills, recently
the chief support Of the market to
follow the advance appeared the
main reason for the setback.
Hedge selling also increased ano
profit taking and liquidation III
fluenced in part by the downward
slant to securities, developed.
slackening mill demand for futures
mirrored waning business in teStlles
during the week, which ended WIFI
sales substantially below current pro-
duction. Prices continued firm, now
ever. at the best levels attained Ill
the fall buying squirt.
Exports Friday "a bales; season
81 far 41S, 208. Port receipts S''4o'
mort stocks 3,148,1S7.
The Wilmington morning star., 1940-11-17

The parrots, tortoises, reptiles
and birds of prey r found to be
the longest-lived inmates of the
London ZOO.
The Wilmington morning star., 1940-11-17
Shipping News
CLEARED AND SAILED
T--@

Tanker
G%ulfbreeze, 4,159 tons, light, for
Port Arthur, after discharging
cargo of gasoline at the Gulf Re-
filming company.
Peiping, 1885 tons, for New
York, after discharging part cargo
Of mahogany at the Cape Fear
Shipping company, agents.
IN PORT
Steamer
Gtal.) Villarperosa, 1921 tons,
held in port because Of war.
Barges'
Puoil, 1910 tons, discharging
gasoline, Cape Fear Terminal
company.
Lottie, 500 tons, loading lum-
Der, j. Herbert Bate company.
The Wilmington morning star., 1940-11-17
INWARD BOUND
TankerS

ESQ Bayway, 1854 tons from
Baytown with gasoline for the
Standard Oil company.
Pan Delaware, $500 tons, Texas
City via Boston with gasoline for
the Cape Fear Terminal company.
MIR. Point Breeze, 1927 tons.
from Ateco, with gasoline for the
Atlantic Refining company.
Steamer
Oklahoman, Sill tons, Pacific
Coast ports via Puerto Rico and
South Atlantic ports, with general
cargo, Cape Fear Shipping COM
pany, agents.
Imperial Valley press., 1940-12-04
ALCHEMISTS
AND JUNK MEN
(Christian Science Monitor)

(ChrlStlan Science Monltor)
While modern chemists enjoy the spot
light with their various kinds of syn
thetic rubber-buna, thiokol, neoprene,
and Ameripol-let a word be said for the
humble Junk man. The United States has
consumed imported crude rubber at an
average annual rate of 4S7,0 900 long tons
since 1890. Americans are prolific con-
sumers, which is the cue for the junk
mans entrance with a modern version
of an old song, ANY tires, any tubes, any
galoSheS today?'
An imposing army of some 5000 whole
sale junk men with 10000 employees did
a business of $400,000,000 in 1885. A
large part of this was old rubber :
enough to supply the unsung hero of to-
days preparedness scene, the rubber re-
claiming industry, with an essential raw
material and to provide exports of mil
lions of pounds
According to Everett G. Holt, rubber
expert of the Department of Commerce,
"the United States consumed $4,000
long tons of natural rubber. 100 long
tons of reclaimed rubber, and LOO long
tons of synthetic rubber last year In
an emergency the junk men could sup
ply more than half of Americas need.
A survey Of the reclaiming industry
.HulCdIeS capacity Ill EXCESS Oh ZOZ,oUo
tons annually capacity which can be
expanded if necessary. Compare this
with existing capacity of several thousand
tons at most of synthetic rubber. Then
note the cost. The average value of re-
claimed rubber in 1885 was A cents per
pound, the average of crude rubber was
12.4 cents 1t is estimated that artificial
rubber would require a price Of % cents
per pound to Justify production, or about
twice the average price of crude natural
rubber between 1881 and 1887.
One should not discount the potential
Importance of synthetic rubber or its use
fulness where its properties excel natural
rubber. But American manufacturers
have approximately 265,000 tons Of rub
ber on hand or en- route, and the reclaim
ing industry is capable of providing near
ly that much more annually. This
amounts to reserve of almost years
consumption.
Thus there appears to be an ample
cushion, especially if the accumulation
of the stock pile is pushed, to permit
development of synthetic sources if and
when necessary.
Imperial Valley press., 1940-12-04
A LAUDABLE GOAL BUT
A POTENTIAL DANGER

Nobody can disagree unSelfiShly with
the aims expressed by Secretary of La
Dor Frances Perkins before senatorial
committee this week when she recon-
mended that minimum wages be guar
anteed to agricultural laborerS, and So
cial security benefits be extended to them
No employer should object to a reason
able minimum wage for his employees,
nor should anyone object to extending to
one class of laborers national benefits
which are now enjoyed by almost all
other classes.
We know the probable future actions
of person, however, only from the past
actions of that person. And judging by
the past actions of Madame Perkins, we
rather suspect that her intention is to
bring farmers and farm laborers under
the terms of the Wagner Labor Relations
be small farmer in this nation left this
side of bankruptcy.
Act. If that happened, there would not
The trouble with so many administra-
tion attempts to bring about such legis-
lation as that Madame Perkins now pro-
poses Is that, in spite of the laudable
goals set up, the result has been trouble,
expense and strife all along the line. In
industry, the Wagner act brought more
strikes than this country has ever before
seen.
Agriculture could not stand those
strikes, on the gigantic scale they are
employed in industry. If they came,
every farmer would become government
charge, dependent on the federal admin
istration for his living
We are in favor of some provision to
alleviate the conditions of migratory
workers and other farm laborers-but
we believe the farmer himself must be
helped before he can afford to pay more
to his employees.