Drastic Laws Aimed to Curb Stock Speculation
MEW MORK Aug 3 The New York Stock Exchange moves to curb wild speculation with drastic rules. Margin requirements rise to 39 percent for high balances and 50 percent for low balances, with new customer approval and weekly disclosure of pools and options. Limits on margins on low-priced stocks are also set. Civil leaders in Little Rock urge radical measures to safeguard the nation from reckless market activity and outlaw margin contracts if needed.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Little Rock
Ari
Joe T. Robinson
Senate Democratis
Roosevelt
Congress
Fobinson
Coleagues
Pat Harrison
Mississippi
Robert R. Treynolds
North Carolina
Move To Eliminate Beer Report Fails In House Vote
PIERRE Aug 3 An effort to strike down a committee report on a bill requiring the department of school and public lands to seize delinquent county land funding for schools failed in the house. Representative Terry McCullen of Huron sought to change the report to do pass but the motion lost 62 to 40. Action on the measure was deferred until tomorrow. A similar bill failed last winter. Horned toad found near potato patch west of fairgrounds, one of about 15 believed shipped from Oklahoma for insect control.
MENTIONED IN THIS ARTICLE
Pierre
Mary
Department of School and Public Lands
Terry McCullen
Huron
McCullen
G. Johnson
Far Grounds
Oklahoma
Weather for Huron and Vicinity Today and Friday
Weather note for Huron and vicinity shows chilly tonight and Friday with rising temperatures. South Dakota expected mostly dry today and Friday except likely thunder showers in the extreme west portion. temperatures near 77 degrees in affected areas.
MENTIONED IN THIS ARTICLE
Huron
South Dakota
Johnson Tackles Job Of Bringing Bill Is Introduced End To Pennsylvania Coal Strike
National Recovery Administrator chief Hugh S. Johnson pushes a quick coal code settlement in Pennsylvania to end the strike amid union labor tensions. He travels to Harrisburg for talks as 75,000 miners walk out seeking UMW recognition. A hearing on the coal codes is moved up to August 9, with hopes of a binding agreement next. In South Dakota, legislators consider halting the State Fair for 1953 and 1954 due to finances, diverting funds to relief while guarding existing contracts and exhibits.
MENTIONED IN THIS ARTICLE
Johnson
Pennsylvania
Washington
Hugh S. Johnson
Roosevelt
Recovery Administration
NRA
U. S. Steel
C. Frick Coke Company
Fayette County
United Mine Workers
Harrisburg
Brownsville
National Guard
Herce
Hugh
Pierre
Emil Loriks
Senaté
Appropriations
Loriks
Appropriations Committee
James Venables
Huron
Fair Board
Sorenson Details Impeachment Talk Against Governor
Pierre August report says Rep. Peter Sorenson was asked to sponsor impeachment over alleged threats tied to vetoing a tax bill if repealed. Other house members from both parties were said to have been approached. none confirmed. Leaders deny awareness beyond circulating rumors.
MENTIONED IN THIS ARTICLE
Pierre
Tom
Berry
House of Representatives
Peter Sorenson
Toronto
Sorenson
H. A. Ustrad
Status of NRA Codes Outlined in Private Talks
Washington reports progress on National Recovery Administration codes. Major industries and trades codes are being refined in private conferences, with hearings planned for several sectors including automobiles, retail, banking, food distribution, and lumber. August hearing dates target quick resolutions of labor terms and production controls.
MENTIONED IN THIS ARTICLE
Washington
The
Recovery Administration
Peek Calls For Hog Conference
Washington August 3 A call for a meeting of hog producers to devise an emergency program under the farm act was issued by George Peek administrator. The aim is to avert heavy marketing at low prices caused by drought in the corn belt. Administrators will later draft a permanent relief program to aid hogs and corn, possibly including bonuses for marketing young pigs, a hog processing tax, and price setting measures for hogs and corn.
MENTIONED IN THIS ARTICLE
Washington
George * Peek
Mert Cummings of Tracy Dies in Rochester
Mert Cummings formerly of Huron and Tracy died Wednesday afternoon in Rochester Minnesota at age unspecified. He was a switchman for Chicago and North Western Railway at Tracy and is survived by son Paul of Orda, a daughter Mrs J J Lee of Detroit, and other relatives who traveled to Tracy for the funeral with burial there planned.
MENTIONED IN THIS ARTICLE
Mert Cummings
Tracy
Minn
Huron
Rochester
Cummings
Chicago & North Western Jrailway
Paul
J. J. Lee
Detroit
Mich
Beer Bill In Brief: South Dakota Senate Provisions
The South Dakota State Senate approved the Beer Bill detailing license costs 250 for brewers and bottlers 200 for distributors 25 for off sale dealers and 75 for on sale retailers with off sale privileges. A 125 per 31 gallon barrel beverage tax and inspection fee funds would support state administration with revenue sharing split 50 50 between statewide relief and counties. Licenses require six months residency for distributors and city boards approve licenses before grant. Brewers bottlers and importers cannot finance equipment for dealers and no more than two licenses per person per town.
South Dakota Farmers Holiday Urges State Resource Conservation
Directors of the South Dakota Farmers Holiday association urge a broad conservation program due to drought and grasshoppers. The mission includes preserving basic livestock herds, prohibiting export, feeding owners, and state aid via a Governor’s commission with broad powers. They seek water expansion through artificial lakes, tree groves rebuilding, and legislative action to prevent dispossession while counties, state, and federal partners push the effort.
MENTIONED IN THIS ARTICLE
Pierre
South Dakota
Associables Wn
Legislat ‘Ors
Commonwealth
Carryi
Treasury Laugh Turns Sour in Farm Loan Tale
Washington reports the summer economy joke centers on farm boys seeking fifty million dollars for cotton operations but paying four percent for short term money. Treasury officials blame an agriculture official while two banks show cooperation, and Morgan interests quietly steer the Senate probe to their aims as the tale ends with a border of continuation.
MENTIONED IN THIS ARTICLE
Washington
RFLC
Wall -Street
Treasury
Agricultera Department
Uap
Acheson
BRF
Psome
CIA
Auto Dealers Convene Here For Industry Code Talk
More than 150 automobile dealers from South Dakota gathered this afternoon to discuss a proposed industry code. Attendees included C. L. Holt of Minneapolis, director of the National Automobile Dealers Association, P. N. Hegvold of Duluth, president, and A. N. Benson of Minneapolis, secretary of the Minnesota Motor Trades association. Benson planned to explain the ongoing dealer code work as Holt would relay recommendations to the national code committee before Minnesota dealers proceed to Ferno for a North Dakota meeting and Montana plans tomorrow.
MENTIONED IN THIS ARTICLE
South Dakota
C. L. Holt
Minneapolis
National Automobile Dealers Association
P. N. Hegvold
Duluth
A. N. Benson
Minnneapolis
Minnesota Motor Trades Association
Holt Ge
Minnesota
Ferno
North Dakota
Montana
Thirty More Join NRA Move In Huron
Thirty more merchants and business establishments joined the NRA in Huron today, boosting the total to over 180. A list of participants includes Skezas Grocery, Laughlin Garage, Kiel Brothers, Marvin Hughitt Recreation Parlor, Chicago Iron and Metal, George E. Schan jeweler, Crane Beauty Shop, Ferriton’s Drug Store, Bolles & Rogers Council Oak store, Kerr dentist, Lonestein’s Drug Store, Palmer’s Upholstery, North Side Grocery, Farmers Union Cream Station, Cloverleaf Lunchroom, Manolis Grocery, Arnold real estate, Hemster ready to wear, Dotty Dunn Hat Shop, Geiger Clothing, American Hatcheries, Nu-Bl Beauty Shop, Leone’s Art Shop, and more. Former Wabonians J. Ali Stahl and daughter noted.
MENTIONED IN THIS ARTICLE
NRA
Huron
Ngon
Skezas
Laughlin’ Garage
Kiel Brothers
Marvin Hughitt
Huron Construction Company
Chicago Iron, and Metal Company
George E. Schan
Max Royhl
Crane Beauty
Ferriton's
Bolles & Rogers
Council Oak
de B. A Kerr
Lonesteif
Olin
Fred Parlee Trucking Company
A. L. Kinkead
Justice of Peace
Square Deal
Kuren Candy Service Company
Palmer's
North Side Grocery
Furnace and Sheet
Harvey Rabbitting’ Company
Farmers Union Cream Station
Cloverleaf
Beer bill cleared after Senate vote in South Lakota
The amended administration beer bill passed the South Lakota Senate 42 to 1 and heads to the House as Lt. Gov. Ustrud delays, amid debate on gross income tax repeal and potential adjournment. House hearings foresee readings and possible final passage today, with a floor fight likely.
MENTIONED IN THIS ARTICLE
Pierre
Senate
House
HA. Ustrud
Ustrud
Tom Berry
M. M. Carpenter
Aberdeen
Senate State Affairs’ Committee
Ustrad
House Taxation
Grose
Hans Urdeh
Madison
EL A. Astrud
F. C. Balverson
Brookings
Also Mentioned on This Page
New York Exchange
Robinson
Venables
J. B. Painter
Peek
Charles. Howard “Esker
Spokane
Tracy, Minn
Astrud
Directors of
Farm Association
Paul Mallo
Morgans
Morgan
Wabonians
J. Ali Stahl
Chamber
Seid Tadey
Carpenter
S.C. Gilliland
Yankton
Staunch Dry
Roy ‘Burns
Sioux Falls
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