Thank you for Visiting

Mellon Tax Reduction Proposals 1927

Posted July 27, 2014 by admin with No Comments in Business Economy

Debate over the Mellon Tax Reduction Proposal of 1927 THE BATTLE FOR AND AGAINST heavy tax-reduction, which began November 2, when Secretary of the Treasury Mellon recommended a reduction not greater than $225,000,000, “will be between financial and corporation giants,” observes Robert Barry, Washington correspondent of the New York Evening World. Unlike the 1921, 1924, and 1926 tax-reduction battles, Mr. Average Citizen, who is found in the lower brackets, will gain only indirectly from whatever slashes may result from the Mellon recommendations. He simply is not in the picture this year; the issue is not whether there shall be relief for the small income-tax payer, but what the amount of the reduction in the higher levels shall be. Basing their …

Read more

Mining and Metallurgy Achievements 1929

Posted July 14, 2014 by admin with 1 Comment in Business Economy

MINING AND METALLURGY 1929 by SCOTT TURNER, E.M. Director, U.S. Bureau of Mines ONE interesting development in the mining field in 1929 has been the steady advance in prospecting methods, by which many valuable mineral deposits heretofore unknown have been discovered. Remarkable increases in efficiency are reported at various mines developing large low-grade ore bodies. This has been achieved by the application of the caving method of mining and by thorough underground organization. By changing from the usual advancing method to the retreating method, in Michigan copper mines several thousands of feet deep, the former menace of crushing from heavy rock pressure has been removed. At other mines in Michigan, Tennessee, and Canada, ore extraction is started at the lowest …

Read more

US Businessmen Need to Learn Chinese 1924

Posted July 12, 2014 by admin with No Comments in Business Economy

CHINESE AS A BUSINESS NECESSITY THE NEED OF KNOWLEDGE of the Chinese language in order to do business in China is said to be overlooked by some American firms, and this fact is much regretted by an American weekly of Shanghai. Three or four years ago American business men in that city, we are told, showed a keen interest in the study of the Chinese language, and a large number of young men from various American firms enrolled in the Chinese courses offered in the British Chamber of Commerce language school. But, says The China Weekly Review, American firms in Shanghai have apparently ceased to care to study the Chinese language, and while there are a number of American young …

Read more

The Outlook for Oil

Posted June 25, 2014 by admin with No Comments in Business Economy

THE Federal Oil Conservation Board has reported to Secretary Work that the supply of oil in the pumping and flowing well areas of the United States is about 4,500,000,000 barrels-a six years’ supply in theory, though it cannot be extracted within that period. Up to June last the 68,000 wells bored since 1866 have produced over 9,000,000,000 barrels-an incredible quantity -but much of it was pumped during a period when the demand was far below the gigantic requirements of today. The almost 20,000,000 automobiles calling for gasoline, the huge consumption in other internal-combustion engines, and the growing requirements of oil for fuel makes the problem acute in its relations to industry and prosperity. Today the United States is producing and …

Read more

Lindbergh Mail Problems 1927

Posted June 24, 2014 by admin with No Comments in Business Economy

COLONEL CHARLES A. LINDBERGH’S chief secretarial aide, Commander Fitzhugh Green, has made public the recently completed cataloguing of the popular flier’s mail.

The Four Year Bull Market Part 2

Posted June 20, 2014 by admin with No Comments in Business Economy

THE most serious interruption to the stock market advance came in the early spring of 1926. The conditions which apparently brought it about are worth reviewing because they resemble in many ways those which have prevailed for the last few months. There was no let-up in business activity. The records show that commerce and industry were making splendid progress in March while stock prices were falling 10 or 15 per cent. A shortage of credit was chiefly responsible. Business and speculation both had been making such large in-roads into the available supply of credit that the Federal Reserve banks raised their rediscount rates to 4 per cent and pumped funds out of the open market by selling Government securities. This …

Read more

The Rise of Pound Sterling and Franc

Posted June 14, 2014 by admin with No Comments in Business Economy

LONDON AND PARIS EXPLAIN THE RISE OF POUND AND FRANC THE gradual character of the upward movement in the principal European exchanges is less spectacular but, in the opinion of foreign observers, it is more significant than any spasmodic sudden rise would be. Last week the pound went up to $4.36, which is within sight of the par Value of $4.8665. The previous week it had been $4.25, as compared with $3.79 a year before. Likewise, the franc which has been slowly climbing during the last three weeks from .082 to .0841, and on to .0858. shows a marked improvement over the figure of .068, of January 1921. Similar improvement is shown in the Belgian franc and the Italian lira. …

Read more

Credit and the Federal Reserve Part 1

Posted June 9, 2014 by admin with No Comments in Business Economy

THE well-known columnist of the New York “World,” F. P. A., recorded in his diary the other day that he found two eminent artists arguing heatedly about the policy of the Federal Reserve authorities. This would have been surprising a year or six months ago but the credit situation in this country—and it is impossible to discuss the credit situation without mentioning Federal Reserve policy has become a topic of such universal interest that it is hard to find an artist, a clergyman, a nursemaid or a barber who is not eager to talk about it. The facts are clear enough and are familiar to almost every one. The American public is in the stock market, is betting that stocks …

Read more