davidaulloa/AmericanStories huggingface dataset:
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-12-17
Monopoly Threatens Sugar Beet Farmers

clple, the sugar lobby has in practice
written legislation which gives price
rigging and other monopoly policies
the full protection of the govern
ment.
The Sugar Act of 1913, passed
| by the worst congress in our history
uses the machinery of the govern
ment to control supply so that the
big refiners can enforce their mon
opoly prices. 1t is a price fixing
measure for the trust, without any
price support for the farmers or any
real wage protection for farm work
ers.
Sweet Solution" for Whom?
Business Week referred to the
Sugar act as a "sweet solution. And
SO it was-for the monopoly boys.
No opportunity was given the farm
ers or consumers to present their
views.
The latest sugar law, which runs
for five years unless revised, pro-
vides for rigid government control
over sugar imports and domestic pro-
duction, in order to back up the
price-fixing efforts of the sugar
trust. Broad powers are conferred
upon the Secretary of Agriculture
to determine domestic consumption
requirements for each year. The
law sets quotas for each colonial
area and for U. S. producers, and the
domestic market is divided up ac-
cOrding to these quotas.
The real purpose Of the Sugar act
CT 1913 was to boost the price of
sugar. James H. Marshall director
Of the U.S.D.A.'s Sugar branch open
ly admitted that change was made
because the sugar companies didn't
think the price was as high as it
should be!
The Secretary of Agriculture can
fix quotas for every farm in the U.
s., and can order a cut in production
On the farm. The quota is appar-
entity 100000 tons. The price of
sugar is down at this time $3.50 per
pounds from last year. Pres
mt retail price is 1897 and 5000
While the previous law divided up
he market on percentage basis,
assigning relative slices to colonial |
lreas, the new act is even more arbi-
rary in that it assigns fixed abso-
ute tonnages to favored areas, thus
orcing other suppliers to take what
yer is left. The domestic quota for
eet and cane sugar is 100000
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-12-17
By CATHERINE LAVELLE
Billings, Montana

The Sugar Trust dates back to the
1905, and in 1887 the car of the
Sugar Trust, Henry o. Havemeyer,
combined 121 plants into the Amer
lean Sugar Refineries company 1t
was ordered dissolved in 1891 by the
Justice Department but like all the
other great monopolistic organiza-
tons that have been indicted by the
Justice Department, they have all
managed to get around the law and
today they are all greater than ever
before.
Like so many of these corpora
tons, the Sugar Trust has secured
a favored position in the country by
tax evasion, donations of huge sums
to political campaigns, bribery of
lobbyists and in the case of the Sugar
Trust defrauded the government of
millions of dollars by evading the
duties on imported sugar.
When this scandal broke in 1907,
it was estimated that the Sugar Trust
had defrauded the government of
$50 million! A partial restitution
was made by the corporations in
volved with payment of the paltry
sum of two million dollars to the
Treasury.
With the taking over of Cuba, the
annexation of Puerto Rico, Hawaii
and the Philippines, the way was
open for rapid expansion of a col
onial sugar policy. The beet grow ,
ers are the latest victims.
More of Rockefeller and
Morgan Interests
The American Sugar Refineries
Company, largest refiner of cane
sugar, owns great blocks of stock in |
most of the beet sugar refineries in
Guiding Great Western. Rockefeller
and Morgan interests dominate the
big sugar refiners, whose directors
also sit on the boards of some of the
largest corporations in the United
States. Though Congress has passed
many laws regulating these great
monopolies none of them have EVER
been enforced.
The contract entered into by beet
growers and refineries bases the
price of beets, on sugar content AND
THE PRICE OF REFINED SUGAR,
)ut guarantees nothing.
The sugar industry owes its high
profits to public subsidies and gov !
coddling. While "free en-
erprise" is lauded as general prin-
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-12-17

are a serious threat to the health
and no nutritionist of any standing
defends the heavy consumption of
refined white sugar by the American
people.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-12-17
Net Profits Boom

The net profits of sugar companies
after operating expenses, interest,
depreciation and salaries, before
taxes, according to Moody's Indus
trials were as follows:
Evening star., 1948-06-04
SEC Seeks 10 Force
Eaton Aides 10 Talk
By the Assoeiotsd Press

The Securities and Exchange
Commission today prepared to seek
court order to compel two lawyers
for Cyrus Eaton, Cleveland flnan-
cier. to testify in the Kaiser-F'razer
stock case.
The commission is investigating
the withdrawal of two banking
firms from an agreement to sell
5000 shares Of the motor COM
pany's stock.
The firms are Otis & Co. of Cleve-
land and the First California Co
of San Francisco. They Cancelled
the deal on February 9.
Mr.. Eaton has testified he Is ma
jority stockholder in the Otis firm
Yesterday two of his lawyers, Allan
Hull and Marvin c. Harrison. both
of Cleveland, refused to testify on
several points.
Mr.. Harrison said he had had sew
eral conversations with Mr.. Eaton
and Mr.. Hull said he had learned
| Of these conversations from Mr.
Harrison.
But the two lawyers refused to
testify about the conversations or
grounds that they were privileged
and that testimony would breach
1.-THE lawyer client relationship.
Trial Examiner Milton Kroll said
the refusal would be referred to an
appropriate court.
The commission Cancelled today's
hearing because two witnesses we're
unable to appear. On June 10 the
investigation will resume in San
Francisco, followed by hearings on
June IA in Los Angeles.
Evening star., 1948-06-04
Chicago Grain

CHICAGO. June 4 nP.--With Wash
| ington news and the weather pulling In
| opposite directions. the grain market had
hard time ma making. up Its mind which
lied above The previous close, and then
| dipped again.
At noon wheat was, 's-s4 lower; July
So .33ss: corn was "a lower to "a higher
July. S2.19A; oats were "a lower to V
| higher: July, 93k. ard soybeans were 3
cents lower; July S4.2I.
The Washington news favored the bear
side. 1t consisted of the House Appro-
priation Committees action in voting for
cut Of around 25 per cent in funds
for foreign aid. Weather news was mostly
bullish for feed grains as most of the
Midwest experienced another dry day.
Chicago Cash Market.
Wheat none. Corn, No. mixed, 224
No. / yellow. 236la-3sHa; No. ,. 1851
37l5; No. 3, 2.34: No. 4, 2.2794-33 sam
pie grade, zoe. Oats, No. heavy mixed,
l.19; No. ! mixed, 1.lsl2a4 No ] white.
I.19-laa; No. ] heavy white, .20A; No.
2 white. 1.17,19; No. heavy special red
lisa. Barley, mailing, 2.1O-47; feed,
.60-S6. Soybeans. none
Evening star., 1948-06-04
| IRomania Calls on Russia
10 Cut Reparations Bill
By the Associoted Press

BUCHAREST, Romania, June A.
Romania asked Soviet Russia today
to cut this country's. $500 0,000, 900
reparationS bill. as Russia has done
for Finland.
Premier Petru Groza sent letter
to Prime Minister Stain requesting
the reduction, the government an
nounced. The government cited
postwar difficulties in payment.
/ The war bill was originally pay
able in goods in six years. Russia
agreed later to extend the term to
eight years.
Premier Mauno Pekkala of Fin-
land announced last night that Rus
sia had agreed to cancel s7o,000,000
of Finland's $500 100000 bill. Fin.
land has paid 0.000.0 600.
Evening star., 1948-06-04
Ferguson Says Courts
Should Rule Whether
Reds Are Subversive
By The Associated Press

Senator Ferguson, Republican, o1
Michigan proposed today that Con-
gress let the courts decide whether
the Communist Party is engaged in
subversite acts.
In advance of a Senate judiciary
Committee meeting to take up the
Mundt-Nixon anticommunism bill
Senator Ferguson told a reporter he
thinks some changes ought to be
made in the measure.
AS it cleared the House, it would
give the Attorney General power to
decide that an organization was (a)
under foreign control and (b) con-
spring to set up a dictatorship in
this country. The House bill sets
penalties for persons supporting
such activity.
FavOrs Court Action.
Although the measure calls fol
hearings before the Attorney Gen.
eral, Senator Ferguson said he
thinks any group accused under
terms of the bill should be brought
to court instead.
1T should be the Attorney Gen.
erals duty to prepare the case
against any suspected violators OF
the law, but he should not have the
duty of making the decision" Sen.
ator Ferguson said.
Challenges Authority.
The Michigan lawmaker contends
that the Attorney General now has
no legal authority to list Communist
and Communist-front organizations
as, the Justice Department has beer
doing.
If Congress passes changed
version of the bill, he said, the
procedure for bringing into the oper
those who are working for overthrow
of the Government will be put on
legal basis.
TT is a strange thing" he CON-
mented, that Congress has spent
millions of dollars gathering infor'
nation about Communists and fel'
low travellers and yet nothing 'effec'
tive has been done to stop theil
activities"
Evening star., 1948-06-04
| Railroads Income Shows
Decline From Last Year

The Association of American Rail-
roads today estimated the net in
come Of Class l railroads in April at
$27 100 900. compared with $35. .600,-
600 In April, 1947.
The report said the estimated net
income for the first four months OF
this year was 500, 0,000, 900 against
$131 600 900 in the corresponding
period year ago.
Class railroads are those doing
81 ,000, 1000 or more gross business
annually.
The association said that for the
IL months ended April 80, 1948, the
rate of return on property invest
ment averaged 3.24 per cent, COM
pared with 3.26 per cent for the
nreyio1ls wear
Evening star., 1948-06-04
Chicago Livestock


active actf witt With most sales $3.50 higher;
sows around 25 higher top. "a IS: bulk
"a so o4O-260 pounds. 80 50-a3.75: 21u-
290 pounds. u .25-22 so; 3o0-35o pounds.
90. .00-2I 25: 375-475 pound butchers;
sows, 1900 8. so; prospects good clear
ance
able calves 400 total 400: good and
choice srain-fed steers and yearines in
very moderate supply. firm at weeks ad-
choice I.200-pound steers, $500; cows
steady to rs lower; bulls 25 or more dowr
vealers fully 200 under early Thursday;
$3.50; Gamers and cutters, 1900 -19. 90;
outside weishtly sausage bulls. Is. 30;
practical top choice veaiers. 90. 90: stock
cattle dull especially 500-70O pound thin
common and medium grades selling at
Evening star., 1948-06-04
Wilson Is Nominated
For Craftsmanship Of
D, {, Bank Auditors
By Donald B. HodIey

Ernest r. Wilson of the Bank of
Commerce g. Savings has been
nominated for election as chairman
of the Auditors Section of the Dis
trict Bankers Association to succeed
Mrs. Margaret C. Mcclure.
The election will be held at the
sections annual meeting at the
Mayf1oWer Hotel at 6 pm. Thursday
evening, June 10. A reception. ban
ouet and entertainment will follow
the election.
Other officers nominated include:
Fulton H. Dixon, Security Savings,
vice chairman; Tudor Wilton, Sec
ond National, secretary; John R.
Cocker. Riggs National. and Louis
x. Lynn, Union Trust, treasurers.
Nominations for the Executive
Council include: Allen H. Cannon,
Anacostia National: Eugene F. Case,
National Metropolitan; w. J. De
Jarnette, Hamilton National; Roger
F. Quinn, Washington Loan &
Trust: C. C. Guertler, McLachlen.
ALB Chapter to Entertain.
Washington Chapter. American
Institute of Banking. will entertain
with a buffet supper and sightseeing
tour Sunday for Southern ALB dele
gates who will stop here on their
way to the institutes national con-
vention in Buffalo.
George M. RoWzee, jr., Lincoln
National Bank, is chairman OF the
Entertainment Committee, which
also includes Robert Crofoot, Emil
Nobbs, William Smith, Baker Mich
olson. George Earnshaw, James B.
Ahalt, Leona E. Draeger, Thomas j.
Norris, Allen Greenstreet, Kay Por-
ter and Virginia Magruder.
Car Deliveries Lag Here.
New automobile deliveries in the
District of Columbia in May Jagged
behind both the previous month and
a year earlier. according to Tratflc
Bureau records.
New titles issued in May totaled
1885 VS.. 2.747 in the previous month
and 1888 in May, 1947 Title trans
fers. representing used-car sales Tor
the most part, totaled 1878 VS.. 5,l29
In April and 1856 year earlier.
The District bureau issued l2,53o
new-car titles and 24,187 transfer
titles in five months of 1947 VS.. r.
lib and 1885 a year earlier, and
highest totals for the period since
1e41 when 1905 and 34,13l were
recorded.
Monthly figures on neW-car titles
and transfer titles for l948 and
l947 follow:
Evening star., 1948-06-04
Business Briefs
Money in Circulation in the v

Money in Circulation in the week
ended May IL totaled 1885 900, up
Sl95, 100000 from the week before,
but down s366,Ooo0 900 from the SIM
liar week last year.-Federal Re-
serve Board
Department Store Sales reached
a new high in May on the Federal
Reserve index, which allows for sea-
sonal differences. Sales reached
2O8ee above the 1935-l939 monthly
average, gain of 5 points from
April and II points over May, l947.
Domestic Freight Car Deliveries in
May totaled 1892, and compared
with a monthly average of 9,l30 for
the last six months. New orders
for 2,222 cars brought the total on
order May 81 to 12768l.-American
Railway Car Institute.
Loans to Brokers and dealers on
securities held by member banks in
New York City totaled S877 1000 900
Wednesday, a decerase of $1,000
600 from a week earlier and S172,-
100000 under a year before.
PENNSYLVANIA Liquor Control Board
turned over to the Commonwealth's
general fund for the year ending
May 81, s37,5O0,O00 in profits and
s1a,80S,766 in State taxes.
California Electric Power Co. OBJ
tanned Federal Power Commission
authority to accept the bid Of Halsey
Stuart & Co. for $2,500,000 of first
mortgage bonds at 100.2699fc of the
principal amount, with coupon rate
of 80 and an initial public offering
price of l0099.
Federal Court of Appeals upheld
1946 FPC ruling authorizing Mich
ean-Wisconsin Pipe Line Co. to
supply natural gas to Michigan, Wis
consin, Iowa and Missouri. The
order was contested by the Pan
handle Eastern Pipe Line Co.
Union Terminal Co. of Dallas,
Tex, obtained Interstate Commerce
Commission authority to issue $4,-
$4,000 of new go first mortgage
bonds, to mature in 1878.
Republic Steel Corp. will build a
bsttery of 38 coke ovens at Youngs-
town. and expects them to be in
production within two years.
Mohawk Carpet Mills announced
a Sc increase in prices, effective
Monday.
General Metals Corp. is building a
SlOOO,0O0 plant to produce malleable
iron castings next to its present
facilities In Vernon. Calf.
Chesapeake & Potomac Telephone
Co. of Baltimore reported operating
revenue for April of s3,597,94l. vs.
Sl,948,O95 in the same period last
year. Net income was S354,917 VS..
a defict of s160,46o in April, 1947.
International Harvester Co. re-
ported net profit o. s28.5l90o0 for
the six months ended with April or
S2.0l a common share. VS.. S34,87l 900
or $2.5l a share in the like period
last year.
r. H. Macy & Co. earned $S,l12,-
1856 or S43l in the year ended Janu-
ary 81, VS.. s9,182s472 or s493.
Davega Stores Corp. earned ST.
10l,084 in the year ended March 81,
or S448. VS.. 81 ,327 ,032 or S547.
Southwestern Public Service
earned $3.494707 in the year ended
April 80. or $254 a share, VS.. $2,787,-
1873 or S203.
Southern Pacific Transportation
System earned $l3997 .589 or s3.7l in
the four months ended April 80. VS..
Sl3238. .5SS or S3.5l in the like 1q47
period.
Also for Four Months Ended April
30:
New England Electric System
earned s2,6S5.973 or 40 cents, VS..
S3549.72 or SO cents.
Detroit e. Mackinac Railway
earned s138,4 ,402. VS.. sll0,624.
Evening star., 1948-06-04
Gas Earnings Improve.

Washington Gas Light Co. re-
ported net income of sl95,045 for
April, VS.. s144O8l in April, 1947, a
gain of S50,964.
Gross operating revenues totaled
s1.257,3l7, VS.. S1,223,749 a year ear
lier, a gain of $33,568 Operating
expenses of s1,0O3,758 were slightly
below a year earlier, raising net OPP
Grating revenues to S253,559, gain
of s35 1858 from year earlier.
Net income for four months this
year totaled S1,146,477, a rise OF
s465,3l5 from year earlier. Com
bined net of the company and
MARYLAND and Virginia subsidiaries
in the four months was S1,575, 1858, a
gain of S716,360 from the same 1947
period.
Evening star., 1948-06-04

as so 1oSM,
FOREIGN 2:3l
Australta3aS67 4 %
Canada As 80 = 1o41
Costa Rica 1851 17h
Italian 1st 3s77. 16N
Mex IS asd 45 n 1AA
Norway As 63-- 72h
Peru Is SO 15h
DOMESTIC 2:3(
Am&F p 5S2O3O o41
Am T&T 2As57 l15N
Am TAT 2As61 lo6il
Am T&T 2sssS6. 93k
AmTobacco3s62 l02
AmTobacco3s69 lo24
ATSF al As 95st 1llk
Atl CT 1st As SO los
AtlRetln 2sss66. 99A
b q o 6s 95J 761
Balt&Oh 5sM96 SO
B&O cv 4Ha2010 5l3
Balt&Oh 4s75A- o2h
B & OPLE As 80 91l
Bost Ne 41as 70 56
Celanese 3s 65- lo2H
Cent Ga 5s soc 17z
CenPa acRy3ss6S 1o4k
Cn RR NJ IS 81 59h
Gao 31zs 90 E. 1o3A
chi&E I inc 97- 43h
Chi&L inc4sS3 : 621
CMStP4 as2O19 69k
CMStP4las2044 s.
Chi&NW 4Has99 6A1
FCRIPin4 as2019 s6
CTHS i2A4l494 70
Chi&W I 4h4s62 1o6L
Clev Ell III IS 70 lo5l
Clev Un TT 5s73 1857
Col d So 4 lasSO 54L
CnsEdcv3S63wi 1917
Cons P gas rs loll
Del q Hud As 81 PSI
Del Lk&W inca 81
D&S in 4l2201S 64L
Erie 3h 90 F. e65
Observation-Disclosures
FranciscoS 6s561o3
| g MO 2044 B 65I
Hud&M RI IS 81 63L
vi Bell gas 81. -
re 4As Co.. 90
ICC StL Is 90 A 99L
Int a N 1HtRSk2 go
Evening star., 1948-06-04
Wife Charged With Perjury
After Clearing Husband
BY the Associated Press

BALTIMORE. June Mrs
Claire Ray, 38. of Watertown, Mass
exercised a woman's right to change
her mind and got herself arrested
on a perjury charge here yesterday
On the witness stand in Federal
Court, she told Judge William c.
Coleman she didn't mean what she
said when she testified before a
grand jury and implicated her
estranged husband in a 81 800 theft
She was angry with him at the
time, she said.
Judge Coleman acquitted the hus-
band, Elmer Everett Ray, 26, OF
Washington, of stealing the money
from ships safe off the New Jer-
sey coast in October, 1916. Mr.. Ray
was third mate aboard the S. S.
! Horace See.
Then the judge ordered Mrs. Rays
arrest. She pleaded innocent to the
perjury charge and was released in
$500 bail.
Evening star., 1948-06-04
New York Cotton

NEW YORK, June 0P.-Cotton fu-
lures moved lower today under pressure
Of LIQUIDATION. The House Appropria-
aid funds accounted for the selling as
traders feared that cotton exports might
be well under previous ideas.
and favorable cotton crop prospects also
influenced nervous selling Offerings were
absorbed principally through mill cover
further switching from nearby July to
later months
acreage will be III per cent higher
than last seasons plantinss.
Late afternoon prices were 90 cents
to Sl.so bale lower than the previous
close. July. 36.62; October, 1926, and
necemher 30 68
Evening star., 1948-06-04
N. 7. Bond Market
Furnished by the Associated Press.D
SELECTED LlNT uR iSSuIS-

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Kan c Sou 4s75 1o2M
|LaeledeGs4h63 100
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Wig q Myer5s5I loo3l
l llLorrillard 3s 63 l0zh
] lManatiSug 4s57 oost
may Strs 2Hss72 o7lh
MKT IS 81 A e23<
'IM-K-T adj 5s67 ssh
mo Pac 5las 40 263<
mo Pac IS 77F- 63Z
mo Pac IS 8lI e3H
mo Pac gn As rs AoN
NEngT&T IS So 1o2
N o T M 51as54 s5H
N o TN IS "a 93A
llNYC 4hs2Ol3A I'm
INYCHR 3hs 81 67h
'INYNH&H 6s 40 7ol1
,|NYNHine41as'22 -
lNYNHH 4s20O7. TN
! lNYOW RI Is o. 11h
! my Pol 2s4s75- oo36
in Y Tel 2As 81 90
Nor p cit 4as75 1o3N
lNor Pac IS 2O47 67A
Pac T&T 2AsS5 96h
j PennCtAir3 Las6G ~
! PennRRg4hs66 1o6H
PennRR4AsS4E1o1N
lPennRR 3As52 99N
.lPhila Co 4As61 1o7h
Phila FL 2'4s "A o9ik
pitts Stl 4 As 5s 1ooiA
Reading 3hss 95 92A
lStLSF 4Has2022 soy
lStLSanFrn4s97 e6Z
!, lSeab in4Ias2O16 7ol1
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} lSocony-V2Ias76 o5iA
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sIVa Railwy IS 95 100
!, WalkerH 2As66 o9H
West Md As So lo1N
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Evening star., 1948-06-04
Stocks Turn Firmer
|Affer Slow Decline
las Volume Narrows
By the Asseeiofsd Press

NEW YORK, June 4.-The stock
market steadied today after a slow
morning decline.
Losses were widespread but small
and selling was never very aggres-
sive. Volume. which has contracted
throughout the week. slackened still
further.
Issues marked down. mostly frac-
tionally. included Bethlehem Steel,
General Motors. Montgomery Ward,
j. I. Case, Caterpillar Tractor,
Pepsi Kennecott Copper,
American Woolen, Southern Pacific,
Sinclair Oil, Gulf Oil and U. s.
Gypsum.
A handful managed to improve a
trifle, among them, Youngstown
Sheet, U. S. Rubber, Lockheed,
Westinghouse and Douglas Aircraft.
One of the most active stocks was
North American Aviation, which
appeared on the ticker tape time
and again in blocks of 1000 shares.
The price, however, barely changed.
The market found only small
cause for cheer when Federal Judge
T. Alan Goldsborough ordered John
L. Lewis to bargain with the South
ern Coal Producers Association.
The possibility of soft coal strike
has Influenced considerable selling.
Today's court order, it was pointed
out, doesn't bring a coal contract
much nearer, although admittedly
it is step in the right direction.
Similar concern is being shown
over the breakdown OF efforts to
settle the argument between the
railroads and three rail unions.
In the bond market railroad is
sues Wobbled lower. Government
bonds in the counter mar
ket again held firm, as large-scale
selling. which was expected to re-
suit from the increased reserve re-
quirements for New York and
Chicago banks, failed to materialize.
Evening star., 1948-06-04

Heuri, 49, s1 sne Easasnse Ieesy:
,i:oo an aao ZIG oco o 1900 zoo noon zzo zo ooc ooc
fUnit Of trading, 10 shares. sIn bank
ruptcy or receivership. or being reorgani1ed
under the Bankruptcy Act. or securities
dividends In the foregoing table are annual
disbursements based on the last quarterly
or semi annual declaration. Unless other
not included. n dividend. n n rigl1ts.
8 Also extra or extras. Plus stock divi-
dend Cash or stock. 2 Declared Or paid
mated tash value on ex dividend date
6 Paid last year b Declared Of pai0 after
stock dividend or stock split.up. : Accum.
ulated Dividends paid or declared this year.
Payable in stock. exact cash value unde-
termined On declaration date.
Evening star., 1948-06-04
Foreign Exchange
AFTER CALL.

NEW YORK, June dP-Foreisn ex.
change rates follow Great Britain in dol
lars others in cents):
Canadian dollar in New York open mar
ket ga per cent discount or 93 so Unitet
States cents. unchanged
Europe-Great Britain, 4O3L, un.
changed; France franc), 1928. Of cent
unchanged; Italy 0irO June fixed rate
OO17 739: May. .OO1739: Sweden krona}
(commerciaD, 23.40. unchanged
Latin America-Argentina free, 25O5
unchanged: Brazil free, $50, unchanged
Mexico. 2061. unhanged
Chicago, indianapolis l. Louis
vile Railway earned -$317,052, VS.. q
net loss of $333, 1893.
Evening star., 1948-06-04
Platinum Prices Drop

NEW YORK. June 4 R,-Plattnum
prices were reduced $40 an ounce today 70
SIS wholesale and $91 retau. Slackenins
coupled with Increased shipments from
European countries other than Russia, un-
settled the market. trade sources SAID
Russia, once . chief source OF platinum
for the United States. has not shipped any
of the metal for many months.
Pacific Telephone & Telegraph
Co. declared . quarterly dividend OF
$50 on the common. payable June
80 to stock of record June IS. March
payment was 81.