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Newspaper
Helena Independent
Location
Helena, Montana, United States of America
Date
Jun 01, 1929
Page
10
The Commercial Bulletin reports a slackening in wool buying across eastern and western markets with little weekly price change. Domestic fleece prices and British and American fiber categories show varied quotes, while receipts and shipments through May 1929 reflect higher year over year volumes.
New York May 31 AP Bradstreets tomorrow will say There is rather more irregularity in trade and to perhaps a lesser extent in industry The advent of seal summer weather after a cool and wet spring has given a much needed stimulus by retail trade in wearing apparel of all kinds with the vacation supplies coming in for mention because of the weather and the holiday this week On the other hand wholesale and jobbing trade seems to reflect an increase in conservatism as regards future buying moving elements in this direction being the effect of high money on certain lines of trade and the recent decline in farm product prices which later tends to create uncertainty as to the buying ability of parts of the rural community In industry also there are more signs of irregularity in that while the metal producing and consuming trades fed by iron and steel continue as a rule at a high rate of speed the building and allied trades show more effects of the high rates for loans and reading textiles and some few other lines note quieting down of various degrees Taken as a whole future trade is about on a par with a year ago retail distribution is still better than last year and industry factory lines particularly though quieter than of late are still in the lead in the matter of gain over the like period of 8 year ago Weekly bank clearings 10436293293 000 an increase of 74 over a year ago continuous string of figures and estimates.
Detroit May 31 AP An agreement between Ford Motor Company and Russia will have the Soviet government buy 30 million dollars of Ford products over four years and construct a car factory under Ford engineers. Ford will provide technical advice for a factory at Nishni Novgorod with a 100000 cars per year capacity.
Washington May 31 AP Loans to brokers and dealers held by New York Federal Reserve member banks for the week ended May 29 totaled 5.288 billion dollars, down 283 million from the prior week. The drop marks the largest decline since the Fed began its restraint campaign to curb speculative use of credit.
The Lake county pool of 70,000 pounds was sold to Leland and Adams of Boston at 33 cents a pound, the first Montana wool sale of spring. Some growers rejected the offer and will consign to the National Wool Exchange of Boston, led by Matthias Staff, amid expectations of a price rise backed by market conditions and world wool supply.
New state agriculture commissioner steps into office after extensive briefings with department heads. Appointed by Governor Erickson April 5, he brings a century of farm experience from Gallatin valley and has traveled to cities to study state-wide agricultural activities. Ex officio on boards, he oversees apiary dairy horticulture grain grading marketing and labor publicity.
Spokane authorities report William A. Nicholas announced that American Light and Power signed a contract to purchase a large power site at the mouth of the Spokane River for about a quarter of a million dollars. The site could yield 30 000 to 40 000 horsepower and is listed as owned by Nichelle and other parties. A separate Chicago report notes Dr. Frank Westlake, held for questioning over the Mrs Laura B Sutton case in Los Angeles, is also under suspicion in an older Pike county Illinois case.
An ex soldier with a repeating shotgun killed three men and wounded three others before escaping from a flat. The dead include Detective Sergeant John Conley and Policemen Herbert Hegberg and John Chorazek. wounded are Vas Karos Frank Vodickninkbylz and Policeman Joseph Murphy. Preuss fled, aided by a neighbor’s report of a domestic disturbance. Police pursued with tear bombs. one deputy bailiff fired at him and said he might have wounded him.
The 20th Rotary International adjourned in Dallas Texas as Chilean and Peruvian delegates reconciled over the Tacna Arica dispute. Francisco Mardones of Santiago and Louis Chavez Velando of Arequipa praised the friendship. Eugene Newsom won the presidency in a unanimous vote after Knoeppel. A ten year post retirement membership privilege was approved.
In Butte on May 31 AP reports Frank Perczich and Nick Pilla argued over a woman. Perczich claimed Pilla tried to shoot him, showing holes in his clothing. Police arrived at an Hast Mercury Street home. Pilla denied the shooting accusation and is jailed.
British reports say King George III mood improved and able to conduct public business though still bedridden after abcess drainage from a chest scar. Doctors Dawson and Hewett left Windsor Castle for London after lunch and will return tomorrow morning. The Prince of Wales visited in the afternoon as general election nerves mingle with royal concern.
Lincoln May 31. Henry Sherman 21 a farm hand was executed in the state penitentiary at 6:30 am for killing three members of the Roger Pachon family in Sheridan county a year ago. He admitted guilt and asked forgiveness from Iris victims' relatives, then asked Joe Dickex, brother of Mrs Pachon, for forgiveness. Dickex refused.
Chicago May 31 AP grain markets slid again with May wheat at 93 1 4 to 94 5 8 cents a bushel, the lowest in 14 years. May delivery contracts sagged while July bids stood around 97 1 2 to 98 cents. Corn oats and rye also declined amid weak demand and Winnipeg driven pressure.
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