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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 30, 1921
Page
11
Washington reports indicate investors see improving prospects as bankers back a new administration. Analysts note bullish sentiment improving but warn earnings and rate policy remain uncertain. traders await concrete measures while professionals hold cautious positions.
Reports describe steps toward retirement or exchange of liberty bond issues for allied or guaranteed bonds, while Washington banking talks focus on agricultural credit. Wages fall, saving costs recede, and raw materials show recovery with wool leather copper firming wheat rising and cotton buoyed by bank crop data. Increased producer purchasing power aims to reduce intergroup disparities.
The Washington Post notes a dull market across cattle with steers 50 cents lower and cows and bulls down 50 to 75 cents. Sheep and lambs show steady to strong demand for prime lambs but prospects look lower for lambs. Hogs and calves also ease, with receipts higher than the prior week. Dominion Textiles raises its regular dividend to 12 percent per annum.
Karl G Roebling president of John A Roebling's Sons Company died suddenly yesterday at his Spring Lake New Jersey summer home. He oversaw construction of the Brooklyn Bridge and led the family firm.
New York May 30 United States Senator J Thomas Heflin Alabama tells a national cotton conference that abolition of exchanges should be considered if law cannot regulate them He advocates limiting credit via the Federal Reserve reform and calls for reforms to curb misgrading and speculative pricing harming growers He says cotton prices must rebound from 12 to 14 cents and warns bear speculation to reform or face closure
Leading cotton growers and government officials warned of the shortest U S crop in 25 years and urged immediate steps to create a market and stabilize prices. Figures show 30 to 35 percent acreage reductions due to a national campaign, boll weevil damage, and bad weather. President Harding pledged administration cooperation.
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