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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jul 31, 1931
Page
12
Preliminary figures from internal revenue collectors show cigarette production at 119.63 billion for the year, down from 119.94 and 119.98 billion in prior periods, with June stamp sales for cigarettes at 11.51 billion. Cigar output reached 5.69 billion, down from 6.33 and 6.55 billion, with June production about 517.5 million.
The North Carolina Traffic League rate structure committee will meet in Raleigh on Tuesday August 4 to decide the league position on a 15 percent freight rate increase petition. J T Ryan chairman says the league backs reasonable carrier returns but questions the methods of the proposal and favors aiding authorities with facts.
Henderson July 31. George W. Hill president of the American Tobacco company attributes low tobacco prices to over production. In a letter to company buyers he says the cigarette industry cannot absorb the surplus and exports and rising cigarette demand affect market prices. He urges merchandising to stimulate demand so farmers can receive better prices.
Ed Py of New Castle Indiana asserts the world’s shortest surname claim since the death of H P Re of Coldwater Michigan. He quips his name is easy as py and four letters long.
A report notes that disruptions in China hurt export demand for American tobacco, lowering both quantity and price. The analysis links the slump to broader agricultural difficulties faced by U.S. tobacco growers.
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