The Courier News from Blytheville, Arkansas on December 8, 1937 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

Blytheville, Arkansas
Issue Date:
Wednesday, December 8, 1937
Page 7
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WEDNESDAY, DECEMBER 8, 15137 f BLYTimV)n,K, (AKK.)' COtmtEU NKWii Where World Wheat "Fnlurcs'MVioes Are Made PAGE SEVH Traders' Calm Dealings In Gloomy Building Affect Every Grower 11V MILTON \KA tittrlcf. Kuro|i«an Maruwr UVEIU'OOU Dec. B— American wheat farmeis riding, tbelr com- lilnos on tlie western plains, Canadian grain farmers to (li« north, Australian und Argentine jjrniii growers In tlielr own countries all are deeply affected by what goe_i on In a gloomy, 70-yrcir-olil building hern In Liverpool. Mast ol those farmers do not even know tlie blinding exists, nor would they wen rceognteff tlie name of tlie Liverpool Corn Trade Association, LUl. Yet the world prices of wlicat as reflected In "futures" are largely made on this Liverpool grain ox- I'hantje. The famous Chicago "Pit" deal* entirely In American whttit, ;UiU Is less vitally concerned with Din outside world than Liverpool, which deals In "futures" In wheat from Cannda, Austral In, the Argentine. Russia, Bulgaria. Rumania or Hungary—any country ivlilcli hns at any time nn exportable surplus. This "future" trading is the sale • of contracts to deliver wheat pf a certain description nnd quantity at a given future time. It is the kind of trading which led to the madhouse' market that Frank Morris described in "'The pit." No Frantic Kidding But American readers knowing that tradition would be amazed to watcli tlie operation of this vast ..'orld-wkle market. There is no excitement. There U no frantic shrieking of bids and counter-bids. Everything is cnlin and easy anil decorous. In the "future" room, one wall is a board which gives the current and closing prices of wheat in Hie great, wheat-growing countries. On 11 big bulletin-board In another part of the room are posted latest bulletins about wentlier and crop conditions, and also covering actual shipments of grain on the high seas. Chief |>oint of interest for the traders is a blackboard in the center of the room. In front of this. Is a circular rail against which the; members of the exchange or their clerks lean and transact business. Prices quo ted on the board ate in v> shillings . aijd -pence - and -fractions i *'T>T~ Sue "penny, and are fbr""cen- l«!s" of wlleat tlOO pounds). . • | Ually "Settling'; Fixes Pikes When two of the dealers stand-1 ing a long Ihe rail, tlielr eyes on the data • nnd Wieir minds Instantaneously .calculating: i a : hundred factors of weather, foreign exchange, political prospects "and the like, make; a-deal, their transaction, .is registered with a clearing lioiiso. .-They nre then subject to a (tally ,<%!) for "margins." .Dally IMs clearing house meets nnd determines ,a "settling"—that Is,' a currenU-prlcc. Any difference between (lie price at, which tlie Around oils circular railing, in an atmosphere of calm nnd quiet „.,„ „- „„,,„ 1Jllura iul - filturos" are largely determined aa tlio members buy nnd sell cqiUraets for Ihe future delivery of nils is the "future room" <jj (he Liverpool grain exchange. assurance, world inlets for "wheat i'lieal. Attendance Up 7 Per Cent In Private Girl Schools PHILADELPHIA. (UP)- Private preparatory boarding si.'hools arc i n joying bettor financial concll- U'j's ihU >e-nr i):i>n In niiy year siir 1929. iicM.ii-i-j lo N. W. Avxr A: Sou. in?. •rfi.rotlincnt ?.'-i i.-, on I hi: nu- swlng this year. Ayer reiKw te;l. with S32 schools of all classes throughout Ihe country showing HI per cent capacity, an (r.crensc of 7 per cent over Insl y';ir. Girls' preparatory school show ll-c greatest sa'ns in capacity- nlciu'nnce record, v.hcmis. co- cducfttlonnl .schools have ITCCIV- ircd more slovy from depression lews, put. according to Hie Aycr n>- buyer bought or the seller sold his futures, nnd the "settling" price, if It is n loss, must be paid In this .little-known, gloomy. TO-year-old buildin land, the "grain futures" prices of the world are largely determined. Instead of a dramatic name like Chicago's "PH." the. venerable institution carries' the name ol the- Live:pool Com Trade ' Association, Ltd. Co-Ed's Beauty Stint Takes 2 Hours Daily CANYON, Tex. (UPI—A co-ed nt Cousins Hall, who attends West Texas Stale .Teachers College her , sukl the 130 girls in her dormitory average two hours .dally before tlie looking glass. • The miss, who prefers anonymity for obvious reasons, said the •schedule runs about like, thl*., 311 minutes before"the first morning class: 10, minutes before lunch; five jnliiiilcK' after' luiicli: 30 minutes before bedtime—with the remainder of the two hours coti- isiirned by interim primping or in Liverpool. EII^- netting ready for "dates." Burial Associations Have Large, Memberships Tlirqu^iioiii Arkansas rn.K HOOK. Aik, -.About half of Arhinsus'. npproximulclv '_'.000.(IOl> nVKli'iils, hold wemlii'V.slii]) i n:i licciiM 1 :! burial nKsoi-lutloi], Murray (). Heed, ili-puly .slate bank toiti- ml.vJumr in I'lmrijc of (ln< s«-ml- lii's division, sidil yosti'uluy. Tin 1 liitoM oilU-lul liibulnilnn on June 30 showed n nu>mbi>i>hi|> "I 4l).5SV. Addition* sliiw tlml lime have IIHIVII-.W! ihis tulnl to wore than MU.UOO. MV. Rood said. Itmiixls i.i imiiul associations lllifl wiih iiio Hmik l>pmliiicnt •sliov. Una llwre ure U5 licensed nssiimiloiis employing tlS'f niyuus, Told) <clli>ctl(iux in UK- six-month peiiurl ii-orn .loniniry 1 lo July 1 Ihis yi'iir was 3911, UCl.tfJ. Tlu-re wcif 2,07?. In-ni'llls iKild In thl% Him' Jov l.:ii'Ki*t Ha* 75.WU Mmibri* l-'Wsl liivnsi'd burial group In M"' i.'atc is Hie Oroijg lliirln) Awo- I'lndoii ni .loucsbiiK] wUli approx- liimli-ly IS.OOU Hicnibws. M<t.t ol Ihc burial utjfiU'los In (lie siuic iiic oix'inlwl by owners of ''inn i ul huiiics, Others him- work- Inu iiyri\'iiie;il.i with llu'tu. Si'voml •nsiinnu'i. O'.)innitnle.i are ™/;ntfcfl 1" \vililnu builiil Dollrics. Attorney Oeiierul Jnek Holt held about i\ inoiiD) mo iiini if iiu'.w coiiipfinlcs weiv uir.lci ri'ijulnllon of (lie alnlc Insimiuce comiulsslou they would imt. Ire icqiilred lo come under ren- uliillon in- Ihe Hunk Department, Ucgiiliitlnn llunillriiinKii Authority lo reflate; burial HKO- «ln(ions was nlvitn the securities illvl.slon of the iliink IJeunitincnt by n 1933 Icuslnllve ucl. The biirlnl agencies have smung up so rnuidly Ilial the Bunk Uepartmcnt has buen Jiiiiiillc-MDpcd In rcijiilnllng Iliwn. Mr. Heed said. Insurance nnd banking examiners linve i'x|ircssed Ihe opinion thai provisions need to be ninile lor syslemnlic adequate rate Kclicduh's (mil unirorm by-laws for the asso- cliilon. The state Bank nc|mrtnu>nt lias drafted n .suefrsled form of by-laws but the actual by-lawn varv widely. Hate System Not I^uiliilile Under iiiiiDy present rules persons ai years old nr« required to pay the same rate sas pei'osns CO years old. Higher rate schedules arc provided for persons CO lo 00 yeiu's old. lictienls rnngc irem S« to $:ITO lor whiles nnd 5.10 to $200 for Nu- aroes. Members arc required to pay dues month lioin 10 cents lo $1.5(1 per ilcpcudliin on nyt and type ' ' hiii'i.'jl »lr.^)it':l, Some ii.s.socliitous lun-o imivhlmis In tliolr by-lnu-s lirovldliiK for uyscM.mcnls nf im>iu- bcrs to ui'Ti expenses of a builnl wlicn ihi'i-c l-i iiisiifili'li-iil film! In !lii> Irea'jury. The assiiclnlliuis arc chiirKnl fees numltiif from $M to $1511 (iciUMidluu nn their slw. The stnti' liiiuk Dcixtrlmcnl checks on lii,. Associations ilnan- C'lnl conilllliin liy rc(|iililiii( thr (fi'oups to (lit; u'liil-iirmual vcpon.s on June :tu ami nwmbor 31. tunio bnuk cxiimtnci's mukc rxamlnallons Of 1)10 II u ywir. Tl (llslJ Auto Tliinges 200 Feet, Driver's H«ad Bumped, VIKAUA, f-nl, (IJI')-A 200-foot liliuilio down the Miln of u moun- lulii In his aiitomolillt! resulted in nahluic • more thai) n bumped hond mill u case of shock for Jell Munis, fomuini at the. Potwlsha Cl'L- CultJ|l ilCIlt llCIX', Munis' miidilnc plmiKwi off 11 Kindt? ID firqiinlu Nulliinal i'ark u nil Killed ilijwn ilu> niumitain- *l<lr. Morris crawled from tne wreck Minit'wIiiiL ilazcj from n bump mi tli» bead and walked M'veiul nillcr. lu u rnniji'f 1 station ivhi-ii' !»• rtpmlcd ii 1( . ncclrlenl. t'Ci: Ditifinis ijuvc him n .sick iciivii In ivcdvcr from u buil Ciise (llslJdniv^t nr li'iiudiitcnl [inu'- arc icjiuul on (lie purl, of liny lnllnn in 1 ils iiijc'in. the ccr- of nullioilty <>1 Uu» tiuenl's IKTIUH will lie caucelli'd unit the oi!'omli'i'.i pioivenlivl. Mr lit Irtist imcc, Iti'lliilri Kiiiivl.v TliiiH-,1 l-'ucid LONDON (Ul'j-lirlUsli cinjncis MI.V that |.i!t>| r Industry Is sulli- tlciilly well iirnunl/.ed ( 0 remove f«»r ol .slim-mlon by wockiido in lime of war. At the, Intcnmlloiml Circe*!* 1 Exhibition In Umlon, a 'mil of the epnce. wins given over to Ihe imlir.lry, tmd the cannon) between then-, flipwcd 350 varle- Ito of tinned tax'. ToWo l.ilii!.s Parking Meiers TOLEDO (UP)-Morthnnts in (lie downtown business district ic- 500 newly Installed park- IIIR meters hlohly .salkfaclory' In roijiilniiijB traffic, have demanded tlielr Insinuation in adjolmng JaMs. Tliu cxlonstai has iSien apiirovcd by the city uafllc fom , mission. ". QUALITY FOODS MEATS GROCERIES We pay hfehosl iirices on «( itli times. ; SAVK AIONKY AT GAINES MKT. 118 W. Main I'lionc -J3 Carlsbatl Cavern Bats Fly South For Winter CAIiLfiliAD, N. M, (UP)— Millions of Inils huvo deserted the «ivut vaults of DID Ciulfibnd Caverns ami headed southward seeking winter hollies. Apiiroxlmately 1,000,000 bills refused lo Join Hie general exodus nnd reunilned to lilbernitU! for the winter In their old Imtint. while the others depitited for Old Mexico. Col. Thomns Boles, wipciintcu- dent of the caverns, Kalil Ihul tlie trek soulh la bused apparently an the btils' knowledge that they can obtain Insects for food nil winter In Mexico. lleuil Coiirlei 1 News Want Ads. SPECIAL Merchants I'lnle l.unt-li HOTEL NOBLE "Wlierc ;i Ufnlltj." ARKANSAS & MISSOURI FARM & CITYI^ LOANS Low Interest Rates Easy Payments-Long Terms closing service of any ; c loan company doing business in Ihcse ulutes. FLORIDA BROS. & CO. l.iff Insurance - - Fire Insurance Investment Seciiritlc? OSCKOLA, ARK. /CHEVROLET/ future, or sell In anticipation ot glut. i ment. She excutcd hie statue In i : the roUinda of ihe Capitol under; Whatever (he effects, It, is cer- i this cotnniLMlon. to "t!:e clearlnif house in cash. - May Lose on "Scftllns" j Tints If a mnn bought wheat j "futures" at nine shillings and eight pence, nnd tlie next day at "settling time" tile price had sunk to nine shillings and seven pence. 1 tlie buyer would he loser by oni-j English penny on a cental. That 1 means .a loss of 4800 pennies peri load, or 20 pounds, roughly $100. He would have to pay in tills $100 (iltis his "original margin" of $100. £ach.dny mull the trniunctlon Is closed, he mniit make a slmllnr cnsh settlement. If there is a gain it Is credited to him. When llic: time finally comes to take delivery! of the coutracled wheat he pays' the price specified In the contract. ] Trading Is Family Heritage • All this sounds lilglily compli-1 cated. It is the most highly-organ- 1 Izcd commodity businc.<a " In the j world. It is bred In the bone ol ' many of these traders, some of I whom are the third and fourth i generation of their families to deal \ In Brain. Only since 1883 lias this very old association been dealing' in "futures," now its most important function. "Cash" or "spot" trad- - ing for almost immediate delivery is carried on onl_v»on Tuesdays and Fridays. The exchange lias 222 members representing 123 firms. They arc International shippers with offices In ail grain-growing countries, grain merchant*, brokers who buy and -sell for customers, and millers. I Members are elected by the board 1 of directors, and scats may not be ' sold like those of the New York • Stock Exchange. i Clovcrns Grain Distribution i With more than 50 years of "fu- j lure" trading behind them, the j English maintain that tins- inter-' notional grain trade, working i through grain exchanges, docs two i highly-useful things: 1. It niTanges the most economical and efficient distribution of grain to all parts of the world j where It Is most, needed. 2. It evens out the supply of grain over B period of time. Dealing In grain tbat is yet to be planted or reaped, points the way to those who hold actual grain as l.iln that no wheat farmer in tlie | -— —— world can safely ignore the pro-}!" ceedings that go on inside dark, unlmprebslve-looklng building In Liverpool. p PHONE 103 ® FOR 'PETE 1 THE PLUMBER this | old Vinnle Ream was the Ursl woman [ to receive a federal art conrniission i from the United States govern- The Loveliest Gift of All - - - Ynur I'linto^raph SOUTHWORTH vPr JtH- Isaacs' Store * The face of JACK BUCHANAN I'opttlar Musical Contetfy Star Now appearing in tlie Sluilicri tmisica! play "Bel\v«n the Ucvil" by Howard Dietz and ArthurScJuvwl-/. Ears Sensitive to Applause l\i!e in color—set /oiv, <uW//<,jr,£on the! and snugly against it. Tlity slant! in an tt/r/f/rfposition, a? oppo^cl to the frequently seen type winch slopes barkw^r.i. Difitinfriiisbcil for their length n\t!icr than their si?e .. .lieinf; as long as or slightly longer than the nose. Your ears will hear plenty of applause, when you s drinks with the famed "double-rich" Kentucky straight Bourbon! ^l; A 90 pTuof vrhulcey with the Af/ir> of Merit. Mndc in ucky hv Kentucky distillcts the good old Kentucky way. Copyright I9i7, Schcnl«y I)istiibntoTs t Inc., N'.Y.C. WHISKEY /Check Chevrolet's low gas consumption •• /Check Chevrolets low oil consumotion••• /Check Chevrolet's low upkeep costs /Then check the many exclusive features of THE CAR THAT IS COMPLETE and you'll know "IjouIIbe AHEAD with a CHEVROLET! 11 CHEVROLET MOTOR ' LITTLE CHEVROLET CO. Phone 633 301 W. Walnut

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