The Courier News from Blytheville, Arkansas on December 30, 1933 · Page 9
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The Courier News from Blytheville, Arkansas · Page 9

Blytheville, Arkansas
Issue Date:
Saturday, December 30, 1933
Page 9
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SATURDAY, DECEMBER 30, 1933 BLYTHEVILLE, (ARK.)' COURIER NEWS I MILL PLftlS and Love Theft Charged t* IN Lip GIT! Shorter Hours, High e r Wages and Increased Capacity Boost Payroll. The Blythevllte Cotlon Oil company observed its tenth anniversary this year with an expansion program that testifies to thr> confidence of the company's management in tile future of the cottonseed crushing Industry in this community. At the eame lime, operating under Its NRA code, ihe company Increased substantially the number of Its employes and its i jl-.u payroll, adding thousands of dollar; to the Incomes of Biythevillc residents. Unfavorable i-.nrket conditions &nd the iiicreas-' In cost of nitration resulting from NRA rcijnirr- ipenls eombiiK'd to make Hie current season an unprofitable one for the cottonseed crushing Industry, E. B. Lyman, manager of the local mill, declared. lie said, however, lhat tlie company views Hie future with optimism and is confidciH thai the coming year will bring an improved situation. Payroll Is Up Operating with three shifts a day Instead of wo, and with increased wage scales in elfect, the Blythe- vllle Cotton Oil company this year has employed about. 110 men compared to GO to 05 last year. This is exclusive cf executive and oflice workers, and of seed unloaders. whose employment is casual and who work under a contractor. The increase in personnel and the new NRA wage .scales resulted in a substantial jump in t!:e sixe of the company's payroll. Typical is the month of October this year, when $7,520 was paid for wages and salaries, compared to $4,703 for Die same month last year. Further increase in the company's annual payroll will result from the construction this year of a 9,200 ton capacity steel and concrete seed storage ho'm. This increased the company's sei U storage capac- ily to about ll»,o:,0 tons and will ini'ke possible operations of the nmll from el-h; to ten months rcch year i.ittcad of from fix to eight, ac in the past The company has $250,000 invested in its plant, which is recognized throughout the tri-str.tes as one of the best-equipped and most efficiently operated in the country. New _ machinery has .. been installed to ' Aecp" pace with" modern developments, and while the plant is hous- Sharp Rally Follows Bank Holiday With Year's Peak Reached July 18. .. t ..i f, ..,. i. > "" mutt till" WVJUill HJUUiLCH (jtf •t I i) • ViVnii I I V Utnrl t ' l '" tS '" |C ""- S ° f tolt 'lK" exchange. NEW YORK lUl'J—The yearF ml lnll>r '" " 1P ycl " wllen ll vvns ,„.,.> „„., ;.„„!„, „,!„.. « f ct~i, 10 m »s '<>«'« I'" market made ts vast amount] were placed In hoarding. Circulation January -1 WEU 55,631,000,000 and on March 11 it reached $1.632.000,000. n record high. Business had almost come lo a standstill, and confidence hnil waned to the extent that It wns Im- posslbie to obtain credit for anything, The resumption of banking imd return of confidence was lin- mediaidy rclleclcd in a booming market for- slocks niul commodities. Wnll Street became Inllution- miiuled and speculators rushed to place their funds in equity stocks, low-priced bonds, and commodities. Tl:c ellcci of inflation wore oil whrn (he dollar touched C9 Mrs. .M.irjor-e IV I!:ivcn r.iuk. •U'licjll, ^J, lli;i pilot,). w;| S Hill victim ot "Kiidiii. liiiliicin-':" < ; r Vk-lor Kkmiii^. pi-mumi'iit niii: ilirec-lor. lirluw. ami was iun.-a away filed I J-'lenth l.nck- 150,000 alionaiinn suit i Los Angelp.-i ajininst Thu director abandoned Marjorie aflcr a trij] to Sail 1-Y.IILCisCO. I, O C. k W r> E (I charges, and hho. now is in u. i.iniiiiriuia for menial cases.. 'ssed restoration of slock market prices tn levels of liUe 1931; n .substantial pickup in business; nnd a rise in bonds ami commodities. U also brought the United Slates dollar lo the Iciwesl levels touched since 1805, :»):! therein lay the principal proMi'in facing the business and flnancinl world In 1934. As 1933 drew to a close. Inflation and antl-lnllaiion forces J were bolstering their line.s for ei I fipht hi 1934. Cnnyress. it w:t.s said, leaned toward inflation, but Hie real key to the situation was business. If industry picks up sufficiently, experts asscrlcd, the ln-j j Italian plans would b? foruotten.: If II was nol of sufficient volume to please the Congressmen, Ihey ndde<l r we may yel see greun- bnc^s and debasement of the American dollar eomcwhai on Ihe order tii!.- German 'nv.irk was debased, the final result being repudiation. Financial history cl 1933 dates from ASarcli 4, when Ihe new administration took control. On thai day all the nation's bjnks closed. A general bank holiday was declared, nn em'ru'^o placed on gold, speculation brought lo a halt through closing of all exchanges, ami a campaign staricd against hoarders. Then Congress produced a mnic of legislation ihal helped reopen banks and bring back order. The President wns given broad iwtvers including ixwer lo devalue the dollar by 50 per cent and. if necessary, issue 53,000.000,000 in greenbacks. Year's Top on July 18 Markets scared on the mllu inflation of the late spring and early summer. They reached new peaks lor the year 18 nnd then juovcd erratically until October 21 when a new upturn scl In lo carry through the remainder of the year with minor setbacks. The first two months of the only meager response. Intrcductlon of 3.2 ]H. r cent beer nnd trend toward rep-.'nl of the 18th amendment brought heavy buying into ihe so-called "wet" slocks. Thai tnirlnx carried on almost lo the day ol actual repeal —Decembpr 0—and new demand was generated ftr ihe Issues before the year (-net. National DIs- tillerb rose from Hi 7-8 to 124 7-8 tied by a jump of 63 per cent over 1932 In automobile production. Farm equipments followeil grains higher with Case rising from 30 \-'2 to 103 1-2. Rubbers and motor equipment Issisrs followed the course of Ihe automobile division, gains In relnl! sales allied Ihe mercantile Issues.• Tlip exception to Hie general tiontl was the utility group, n'ud Ihul section WHS mukinjj uuxlenili 1 Si-Ins ns the year drew lo a close. Many issues were still under' ioa2. however. Salrs Sharply Higher Slock sales were urmnul CSO.i- OCO.OOO chares for the yeur, the year In history save the >"0iii years of lfr>8. 1929 and 1930. ii-inil subs were sharply higher ' nu the lasl throe yenrs or more. Time was n dcniih of new bond find slock olferlngs. 'Ilie falling (•II. bunkers onlcl, was due entirely •o (he rimi'timilni; of iho IM:i SL>- iiirllles act, which lendrd lo stifle i:i'w notations lj v Imposing (!lgnn- llc risks on the Issuing houses. The pickup in business wii.s as- lomxIliiK In ninny lines. In ti:c lirst nine months of I9:n aia'rc- net Income of -^Ofi roininn'es is spill up: American i van $200.309.000. in Commercial Alcoliol rose from 13 '•$30.200000 to 89 7-8: u. S. Industrial Alcohol/ 111 19:12, , 1-2 lo 01; Owcns-llllnols-Cilass, 1-2 lo 90 3-1, nnd Standard , Brands from 13 3-4 to 37 5-B. Mining Slurcs Strong Mining issues were prominent on the upside as the price of gold rcse sharply. Homestakc soared from H5 to 373; Alaska , Juiicau from u i-B to 33; American Smell- g from 10 3-4 to 53 1-2; and U. S ln L Smelting from 13 1-2 to 105 5-8. Chemicals vial with the miners for high place late in llw year, and new hlgrs for two yeare were mnde by Allied Chemical, tin Pout nnd Monsanto Chemical. Steel Issues were bolstered up . early In the year and then rose to 1-2 before cncounterhu; rcslst- 01 Sectrical equipments were bid up. Automobile chares prof- cnnlrasl with rl.<c- of S ]wr cent according to n comiillu- l>on by ihe Ntitloi.r.i city Hank of New York. General Motors enrn- IIIKS for the itfricd rose from »in,- aiS.OOO in 1332 to $81.410.000 In 'MX u gain of G1I.7 per cent, nivi- 'inil paymeuLi were resumed In many Instances; extras were ele- c nred In profusion as the year drew lo a close, and many companies P'kl accumulations In arrears. FnthuEbst a ( ni HOLYOKR. Mass. (UP)-. One of the oldest toboggan enthusiasts in tilts sccllrm of the- country Is Charles B. Sampson, C5-year-old president of the Holyoke Savings Bank. -Much of his spare time is sixsnt sliding on a hill near his! home. He Is a skating fan, loo. A- beetle Is said to be able to disuse with food for three years. A Vision-Pius Industry, Plus Satisfaction lo Others, Equals Proffr A niiil Imsiness thnl Imd iU years :iiro . . . mid with dm piiH.sintr of tliese yi'iirs we lire proud in .siiy Hint we arc today riijoyinx mi iiKTonseil business which proves llml our prndiiflK must hi: litilil. At "11 11 men we hiive endetivoi'cil to tfive our customers llio iitmiwl. in servk'i', quality nnd wilisfm'lioji. During lillM wi! expect 'to in- crciisi! our service to tliis cninintinity in ninny w:iys. to-operalinn in every worthy inovcinniU In in'Oinolfi pri)i:n:ss (mil |>v<:snerity. \Vt''Curry Ihe (ifst (!ruil t . of Montiivullu, New Hiver, I'reiniiini anil Kentucky ('<>:<ls. CAY & BILLINGS, Inc. I'hone 70 Yoiilh Killed Buck LUFKIN, Tex. (UP)-Ned Shot- . . „. .... well, 10. has won his place among year were marked hy imccrlainty. Texas deer hunters. He kill- Stocks rose moderately in Janu- cd n big buck this season, which j ary and then made their lows In weighed 100 pounds dressed. Ned' February. A total of 389 banks the son of Mr. and Mrs. Jean ' closed in those two months, bringing closings since June 30, 1928,- Shotweli. of Lufkin. ' • I to nearly 8.000. A total of »287,There were S39 homicides in Ken- 000.000 in gold left the country ed in a frame structure a systematic fire control program has earned for it a reputation as one of the best flre risks in the industry. Million A i'l/ir for Seed In normal years the company spends about $1,000.000 for cottonseed, bought chiefly in the territory within a 50-mile radius north and west of Blylheville. Its products, crude coltonseed oil, colton- secd meal, hulls and linters. arc shipped over a wide area. The oil. practically all of edible quality, goes to refiners who use It as the raw- material for salad oik. shortenings, soap and other products. The meal and hulls Five used in stock feeds ond fertilizers, and the lint- ers go into a variety of products ranging- from imitation ivory to fine artificial silks and down to upftol- s{ery stuffings. The mill suspended operations on December 22. due to the fact thru under present market conditions its products cannot be sold except at a loss and It is more economical tp store the unprocessed seed than the manufactured products. Seed Is still being bought nnd pin in storage, however, and the quantity now on hand assures two nnd a hall months of o|»ration whenever the market improves sufficiently to -AMuslify it, ^ Tlic problem of the industry, Mr. Lyman sakl. is that of an ovorsup- ply of vegetable oils, not particularly of cottonseed' oil, but rather of Imported palm and coconut oik. which are now invading the edible oil field of which cottonseed oil long held nearly n monopoly. U is hoped that improving business conditions and other readjustments will correct this situation before long. The Blythevllle Cotton Oil company, established In 1923, is headed by W. E. Gage of Memphis, as . president, j. P . waggoner of Memphis .is vice-president and general manager, nnd \v. C. Higginson of this city Is secretary. Besides Mr. Lyman, the manager, the local executive and office staff includes Mr Higglnson. cashier and bookkceiwr, Harry Harp, traffic manager. Lute », u>iglns, superintendent. Hither rl Mntr.eny, night superintendent ami * Upton Booker, weigher tucky in 1932. ! Money in circulation rose sharply Pennsylvania Retains Hunting Record HAnRISDURG, Fa. (UP)-Penn- sylvanfa this jtar rettilned its place In the country's sporting firmament ns the most"fertile stale c. all for hunting, ticcordiin to Einest E. HanMxd. executive sec ,«Ury of the s.nte Game Com mission. He reported H,I unusually Jars -ag of ringneck pheasants anu squirrels. Many wild turkevs also were killed, ^though the" rabbit totals were smaller than usun Early snows in tne mountains pro vlding excellent tracking led Ihe killing of many bear*, some them exceptional specimens falcl. Progress ... our part Wf. ciinnnl provide.' llio Tucl that semis heavily londril trucks and •' •" • i ; < • passenger cars sM'cdiiifr here and lliere, tractors n cross flic fields, airplanes over our hearts, anil seU in motion tlic nioto-s \vhicli drive iniiunieralilc other niaciiine.s without licing proud of our part in Rlytiievillc's proj-vrss. Let us say that Texaco ProtliuUs arc worthy of their important place in the htisincs-; n'orld. Their makers have kept pace not only with the oil industry, but with I lie myriad demands cf a motorized world. Thus, we face 19M4 with the confklepc 1 : which only a tfood product c;;ti inspire. Joyner and Bonifield Tc.vaco Distributors South Elm St. Phone 558 Tlie Pledsant View of 1933 other things 1933 has impressed the world with iiow empha- sjs the faet that in lit'o there are many tilings more valuable, more i ;fo he prized a'n.d more to be sought after than the coin of the realm. Among these are friendship, goodwill, the joy of fellowship one with another, and pleasuil relations lhat make life belter. So we come to the end of the year with hearts attuned to the spirit of peace and of fellowship and goodwill. W e come giving glad thanks for the:loyalty o!' those who have made onr business possible during th'o past year and who have made it a pleasure to ns to do business. All things else we cast aside and ;is earnestly and as unselfishly as we know how, we send to our patrons everywhere cordial greetings and every good wish for the coming year. JOE ISAACS- HAS TOLD YOU THE TRUTH 5INCE 1902

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