Hoover, in a speech here to-day warned' "foreign monopolists" con-_ trolling raw materials essential to) American industry that they must) expect the United States to retaliate if they "continue the practice of forcing high prices." Mr. Hoover declared that although the Government had anti-trust laws it could easily countenance the creation of combinations to control the prices of copper, cotton and oil—Reuter's American Service.
New York, Oct. 81.
'The Secretary of Commerce, Mr. Hoover, in the course of his speech at Eric, Pennsylvania, in which he warned' "foreign monopolists" controlling raw materials essential to American industry that they must expect the United States to retaliate if they "continue the practice of forcing high prices", said that up eight months ago the controllers lof East Indies rubber had uniformly declared that the industry sought only 20 to 35 cents a pound. "Our investigation showed that they learned 25 per cent. upon the invest~ fed capital at that price. To-day, it is over a dollar a pound and yet Production is restricted. Now it is sai the tean Servic Londom Oct. 31.
The offciat percentage of rubber exportable from Ceylon, the Straits and Malaya for the quarter beginning November 1 has been fixed 10 per cert. higher at 85.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.