Evening Star Newspaper, March 8, 1921, Page 20

T NEWERADAWNING * INTHE NORTHWEST ml Lead to Stabilizing Busi- | ness—Situation in Other g Sections. BY L. S. McKENNA. Spectal Dispatch to The Stac. ST. PAUL. Minn, March §.—The northwest, covering that part of the ‘United States commomly called the ~bread basket of the mation.” is on the threshold of a new business era. . an era that will lead tp the stabiliz- ‘“ing of business conditions and the bringing of prosperitw to the pro- ducer, the worker and the employer ‘This in substance is the opinion of Twin City bankers, who are in a po- { sition to keep their fingers on the '__. business pulse of this section of l)}e ““ United States. They, as well as lead- ing business men, can see nothing but & steady improvement in conditions. .. The great drawback to an onward business movement that this section has had to contend with hag been dif- fculties of the bamks in North Da- kota, the state where the Non-Pai tisan League has had its stronghold. The situation in that! state would have been more critical hmd not the finan- cial interests of other states of the northwest foreseen such a crisis and ‘i prepared business for the blow %" The United States : " gecision holding the farm loan act “constitutional probably means more 10 the morthwest than i does to som other sections of the TUnited State *4because agriculture is the chief occu- pation of this region. Before the land banks were forced to suspend func- tioning by litigation. (}’v-- St. Paul “%Land Bank led other regions in loans o farmers, totaling mome than forty seven and one-half million dollars ! i | The increase in retail business Bheen very noticeable. An indication Cithat the people are buving freely again is found here in the anniversary ~azale of one of the largest department tores in the northwest. The actual crease in dollars and cents in sales xceeds 35 per cent. This is more re- markable when it is taken into’ con- sideration that prices are from 30 to 50 per cent lower than they were last “fyear. S ‘nWhalonxers report they are getting saln their accounts from the country merchants. i There is a great deal of unemploy- +. ment in the Twin Cities, but there is no suffering. as nearly all laboring men saved enough of their wages to meet this crisis. .Plants Are Bright Spots in the Steel Districts BY H. B. LAUFMAN. 1 Dispateh to The Star. PITTSBURGH, March 8.—With pro- duction maintained in the great 7% United States Steel Corporation plants ~at Homestead, Duquense and Brad- dock, the immediate Pittsburgh di FWiNtrict is feeling the reaction in indu 5 try less than neighboring sections. The corporation's plants are bright epots in the local industrial situation, and Johnstown's steel works report a slight expansion in operations. In the 8 #I Shenango and Mahoning valleys and Z in Wheeling steel production is at low = ebb. 2 During the steel strike of about a % year ago the loyalty of workers in % the Homestead. Braddock and Du- E quense plants of the Steel Corpora- Z tion turned the tide against the dis- L zontented workmen in the industry. i When other plants were compelled I 10 close, or reduce production to a Y. minimum, these works oontinued to : operate on an extensive scale. Opera- = ‘lons were interrfipted to some extent, by but the strikers were not able seri- | ¥ osusly to interfere with production. # While it is not officially given as the reason, it is noticeable that the plants L. where the lovalty of the workmen “vas most pronounced. have been kept Z as near as possible to capacity opera- o tions In Wheeling aml other sec- D ions where the strike situation was ;i more serious operations have been [ weduoed. Another factor is that the Steel Cor- poration maintained its regular price schedule during the period of steel scarcity, while independents were de- If Ponce de of Youth.” A FINANCIAL upreme Court's | One of the first white men to come to America, this adventurous Spaniard roamed fruitlessly through Florida in search of a ““‘Fountain manding and receiving premiums for prompt delivery. If the Stetl Corpora- tion could meet demands. it did so without asking premiums. As a result, the Steel Corporation came into special favor with consumers, and when orders became scarce the bulk of new business found its way to the books of the big concern. Today it is estimated that the Steel Corporation’s plants are operating on a basis of 60 to 65 per cent of capacity, while inde- pendent operations are down to 20 to 25 per cent. These figures indicate something like 40 per cent operations in the whole country. In Homestead, Braddock and Duquense plants of the Steel Corporation are on an 85 to 90 per cent basis. On October 1, last, 319 blast fur- naces were in operation in the United States, the daily output being 106,000 tons. On March 1, last, 153 furnaces with a daily capacity of 62.000 ton: were in blast. Under such condition: the operations in the Pittsburgh di trict are considered especially favor- able. Trade in Texas Improves; Grain and Cattle Inspire BY JAMES R. RECORD. Special Dispatch to The Star. FORT WORTH, Tex., March 8. —Re- ports to Bradstreet's district office in Fort Worth show that for the first time in six months wholesale trade in the west Texas territory has equaled the volume for the corre- sponding period a year ago. Jobbing houses in this territory say that the improvement began in February. Rain in the cattle country and the grain belt put new spirit into the retailers. It is now certain that the Texas calf crop will be larger than usual nd that the danger of a drought on he range is removed. This is espe- cially true of the vast plains country southwest of Fort Worth, where for a time this spring ranchmen feared scant grazing because of a lack of | moisture. In the grain beit, the wheat never looked better, especially in the Pan- handle. In many parts of the latter STOCKS ARE SOFT ONLOWER STERLING ly Watched—R. R. Earnings Are Not Satisfactory. BY STUART P. WEST. NEW YORK, March $.—The markets today, while still reflecting no seri- ous concern over the situation cre- ated by the break-off in the repara- tions conference, showed more Sen- sitiveness than they did yesterday. It was generally agreed that the real test of sentiment was to be found in the foreign exchanges and all the other markets accordingly took their cue from the movement here. i When busine began with sight sterling off scarcely more than a half cent from last night, it made a favor- able impression and for the first half hour or so the tendency in stocks was toward recovery. But, Wwhen later on the exchanges weakened and sterling got down around 3871, as compared with 3.893; at yesterday's close, the atock market weakened, while cotton, which had opened up steadily, also fell away It could not be said, however, that these declines were important enough to indicate any real fear over the po- litical outlook. There were two dif- fering views to be taken, one that the occupation of the Rhine towns would bring a quick reaction upon German sentiment and prepare the way for an early renewal of the Lon- don negotiations, the other that com- plications might result through an a liance of certain German elemen with the trouble makers to the But there was not the slightest q district a bountiful harvest is regard- | (ion Which judgment the financial 4 a8 now assured. The wheat aere.|communities hers and abroad were fze, aceording to the reports to theltakine. that the overwhelming belief Texas grain dealors aseociation i | %as (Rt the failure of the repara- much in excess of Tast seats "Thi|tions conference was largely a polit- ical maneuver and was of only tem- porary significance. ‘aused Uncertainty. The way in which the foreign de- velopments affected the security mar- kets was to inject an element of un- certainty that while it was not enough to bring about liquidation did avail to diminish the immediate buying power. Professionals scenting the proba- bility of lessened opposition to ef- forts to get prices down. took the short side with a fair amount of suc- cess. Bearish activities were helped by the publication of one or two more very poor annual reports of industrial companies and by the January rail- way statements which disclosed re- sults that may have been no worse than anticipated, but were quite up is due to the fact that the farmers | reduced their cotton acreage. Answers to questionnaires sent out by one of the Fort Worth national banks indi- cate that the reduction in ootton acreage will be at least 25 per cent. Most of this has gone into wheat. The practical olose of the winter, a record one for mildness, also insures a big spring lamb crop, which will drive away some of the gloom caused by the low wool prices. Thess favorable forecasts have stimu- lated retail trade, with a consequent gain in wholesale buving. This latter has been the outstanding feature of the past week according to local banks and Bradstreet's Cuts in wages paid in building trades were reported last week at two | places in this territory. In each in- stance carpenters voluntarily reduced | their pay $1 per day. Small building Foreign Conditions Are CIose-! to the worst. DIVIDENDS DECLARED. is being resumed in many towns. Marketing of cattle is still as slow as in midwinter. stockmen refusing to sell unless forced to for need of ready cash. Receipts at the packing plants Stock of Pay- here are showing a gradual decline Record. able. each day. Feed prices are low, and|American Wholesale Corp predictions of a gain in receipta with [ , Pf. G- 31 Wiz MAG B RrApe: L ] the advent of spring are being made [ AT Lesther Co pta " 0 o by packers and commission men. | g b i : e e 1 ..Mar. 15 Mar. 25 OIL STOCKS, 15 Apr. 1 Quotations furnished by W. B. Hibbe & Co. Bi Asked. . 15 Apr. 1 Angio-American Oil Co. (pew).. 173 18 1 Atlantic Refining Co.. vees 920 960 Rorne-Scrymser Co. . 375 400 5 Buckeye Pipe Line o.. DR Cheseborough Manufacturing Co. 190 200 Continental Oil Oo. 113 3 Crescent- Pipe Lin 31 Cumberiand’ Pipe Line. 145 . 8175, &% Fureka Pipe Line. . 100 | Orphewm Circuit &0 1 Tena-Signal Off Co. ‘com. %7 | orpheum Cireu a 32 iepa-Signal Ol Co. pid 87 | Western Eieetrie Co. ' 2 31 ndiana Pipe Line Co. National Transit Co. = | SUCCEEDS MELLON ON RAIL. 2 18 PHILADELPHIA, March 8.—Edgar 20 23 |C. Felton, Philadelphia, has been xiean B 3 |elected a director of the Pennsylvania Railroad Company, Succeeding An- drew W. Mellon, now Secretary of the Treasury. who resigned in January. Mr. Felton has for years been a prom- inent figure in the steel try. RAIL BOND ISSUE GRANTED. NASHVILLE, Tenn., March 8.—Issu- ance of $1,000,000 of first consolidated mortgage 5 per cent bonds to mature in « Pipe Line Co. | Solar Refining : thern Pipe Li South Pemn. Ol Co.... .1 iwest. Penn. Pipe Line (o . Standard Ol C = Srandard 0il ( Standard Oil Co. Standard 0il O Standard Oil du Cnion 1928 have been authorized by the stock- e e helders of the Nashville, Chattanooga Washington and . Louis railw: Leon Had Found Paradise— nd all the while, up in Maine, flowed Paradise Spring! Paradise Spring-——bubbling forth not with water of eternal life, perhaps—but with water of such absolute purity and health- building qualities, as to actually increase the average person’s years of well-being. The function of drinking water is to ab- sorb and flush poisonous wastes from the human system. If the water itself con- tains impurities or insoluble matter, it naturally lacks solvent powers. And there is no public supply of water but what contains an appreciable amount of mineral matter, as well as the soluble el- ements of animal and vegetable matter. Filtration or treatment cannot possibly free water from all of these impurities Contrasted with ordinary, uncertain drink- ing water, Paradise Water—with but a PARADISE SPRING cOMP . Cornwell & Son Charies M. Colvin & Co. 1. ML Beal, 1063 ert N.W 115 H 8t N.W. 740 14th St N.W Soben & Dorfman, 7. A. Bresnahan, 20th and N St. Wardman Park Pharmacy, z 1742 Columbia R4. N.W. For sale by single grain of solid matter in 58,372 grains—stands supreme in purity. Be- cause of this, its continued use has aided considerably in the relief of many cases of indigestion, constipation, intestinal ail- ments, kidney trouble, articular rheuma- tism, prostatitis and the like. Paradise Water promotes the proper functioning of the kidneys, which in turne makes for a healthier condition of the arteries and heart. Paradise, therefore, by tending to ward off hardening of the arteries, is especially beneficial for people past middle life. It will keep you fitat 50! Comes Natural or At grocers Paradise is a perfect table water. in quarts, pints and half-pints. Carbonated. Try a case. and drug stores. ANY, BRUNSWICK, MAINE Connecticut Ave. Noon prices reported to The Star over direct New York-Washington wire by Redmond & Co. City of Paris 6s 1921 French Government s Government of Switzerl Chi.. Rurlington and Quines Ji. 45... Chii. Mil. and St. Puul refd. 4iss.. ChiL Mil . conv. 31 Chicago Chi Chicago Tn; Consolidate Delaware and Erie general lien 1 General B Tilinois Central Int In; Loutsville and Mo., Kan. an, Miswouri Pa Pennsylvan; Reading general 4s... & Atchison, Topeka s Atlantic ‘Coast Line 7s. Atlantic Refining Co. 61, Baltimore and Ohio conv. Baltimore and Ohio 0« Baltimore and Ohio Bethlehem Steel rofd, Contral Leather Gu o entral Pacific 43 1949... Chesapeake and Ohio cony. Chesapeake and O Chesapeake and Ohio cony TODAY’S BOND PRICES. SHORT-TERM SECURITIES. (Reported by Redmond & Co.) 2614 Rid. American American Santa o gen. 4s. Gulf 01l Corporation H. I H, en b3 Hockin ric 6y ternational Mercantile Marine ter. Rapid Transit 1st and re gen. mortgage 4 rmun gov. 5s.. St. Louis and Rrupp 48, 5 St. Louis and s Lad. Aniline $ig% St. Louls and 2 Ges. 41hx Beaboard Air Line ref viger Rank 4% Beaboard Air Line adj i1, Bank 4s Bouthern Pacific st ref. ies Bank 4s. . Sonthern Pucifl 5 Southern Railway gen. 4. Soutbern Rafllway Union Pacific 1st 4s. Union Pacific cons. Union Pacific 84 1928 United States Rubber Frenelt nited States Rubber Hamb Rritiah N tent | Hambur Nat. war loan Vireinia-Carolina. Chern R NRIC s donu) [Willsoo; &(Co. Taca = | Laipzix 4 Italian 5 Loipai Tintiun notes PLENTY OF WHEAT IN SIGHT. to the world’s wheat demands during 1921 The expezzable surplus in metric tons is estimated States, 900,000; Canada, 500,000; Argen- tina, 3.000,00 dia, 800,000 aria, 300.000; total, 8,000,000 2 3 S S Deficit requirements: France, $00.000 017 on July 31, 1920. President Germany. 1.400.000; ' Italy. 1,500,000 | Barrett declares that the American Rail- Spain. 300.000: Portugal, 100,000, Greaf | w: s Company will be able to Britain, 2,000.000: other countries, 1,000,- { pay a dividend upon its capital stock 000; total 100,000. during this year. riiner Bank 4% ~una 4s ~nna Vienna French Frencl conv. 4 unich s German gov. & BALTIMORE, March 8—Of interes i the grain trade is the report covering to be as follows United | Expres Australia, 2,500,000; In- Rumania, Serbia and Bul- loss deficit shows a profit and offer. 07 EXPRESS IS PICKING UP. BALTIMORE, March 8.—The consoli- dated financial statement of the Adams < Company and the Southern Ex- press Company as of December 31,.1920, 1 of §: 2, as compared with a deficit of THE EVENING STAR, WASHINGTON, D. €. TUESDAY, MARCH 8 1921 BIG PENNSY BOND lssuz.} Authority Granted Road for $60,- 000,000 of 15-Year Paper. The Pennsylvania Railroad Com-| pany was authorized by the Interstate | Commerce Commission today to issue $60,000,000 of fifteen-year 6% per cent | gold bonds, maturing in 1936, and to | issue a like amount of 6 per cent mortgage bonds, maturing in 1970, to Save First The man v savings us afterward. of none of necessities. The small Don't plant t FEDE Real Tire Economy is Here to Stay ERE is unmistakable evidence that intelligent motorists and dealers will neverreturn to the old waste- ful tire buying and tire selling practices. The thoughtful man is be- ginning to realize that thrift in tire buying depends upon how well he spends his tire money—not on how much he spends. ’ * * * The right-thinking tire mer- chant knows that the dealer who carries a split stock of - tires and tells his customers to take their pick is throwing back on them the very duty which a responsible dealer should himself perform. He knows that it is the dealers business to know United States Tires United States @3 Rubb Tire Division Branch, 1303 H. St., N.W. . tires through -and through. To select from the market the very best tives his custo- mers can get. To concentrate upon these tires and back them with his reputation, and responsibility as a fire authority. * * The modern tire merchant is ruling out waste— cleaning his stock of odds and ends— and preparing for the new demands of the future. The United States Rubber Company hasalways adhered strictly to its clean-cut policy *® . of stabilizing the tire business in the interest of the legitimate tire dealer and his customers. Building a full and com- plete line of tires in all sizes. This is the thrifty way of living, and the man who does it consistently is achieving prosperity. It means the loss total as they are eas Give it a chance to grow. Southeast Corner Fourtcenth and G Streets. FINANCIAL, be used ecurity for the first issue |ary figures, recently released. show Part of the issue will be used to| $4.249 tons of cargo coal on seventeen purchase capital stock of the Pi four e “f‘{"";m oaking 4 5 Sz ‘ unkers amounting to 9 tons. burgh, Fort Wavne and Chicago rail- | iR ee™s (HOOUATURE 10 2420 tons. way and the Pittsburgh. Cincinnati, |, a0 (0 SR Aeubly be Chicago and St. Louis railway com- R ea et when twenty-nine ships left with 154, §76 tons. twenty-two of them taking tons of bunker! | 1t is said that the bituminous out- I put of the mines of the country is de- creasing weekly, AVEraging now only around 7.500,000 or 8,000,000 net tons 1 week panies COAL EXPORTS DECREASE. BALTIMORE. March §.—Cargo coal exported from Raltimore during last week totaled 26,823 tons e Feb ; Spend Afterward wvho looks at the hottom of his purse to find his ually finds no money there. Save first; spend his accustomed pleasures, the sacrifice of no but steady savings are 2 " to lay aside. s amazing in their he seed and then dig it up. VINGS DEPARTMENT RAL NATIONAL BANK Merchant States His Policy As the days pass, it becomes apparent to the tire dealer that he must put into practice new wiethods in conducting his business. He must eliminate the practice of loading himself with a multiplicity of tire brands. “1 came to the conclusion some little time ago to concentrate on fewer lines. 1 have 1o reason to change my mind after three years of ‘specializing’ in United States ‘Tires. ““There is no question in my mind, after studying conditions carefully, but that United States Tires have sprung into lead- ership in the tire world. We feel thor- oughly honest in telling a customer that United States Tires are the best built, be- cause we have seen several other makes come and go. “We have lost 80 few sales as a result of being 100% United States dealers that they are not worth considering.” KEDIAN AUTO SUPPLY CO. BROCKTON, MASS. byJ. F. KEDIAN / Each tire as fine, as efficient, and as economical as money, brains and human skill can make it. A tread for every road condition. A range of prices to meet the require- ments of every motorist. Thus reducing the dealer’s risks and liabilities—/owering hisinventory investment and his overhead expenses. En- suringhis customers fresh, live tires of current production. It is significant, therefore, that in times like these thou- sands of dealers all over America are concentrating on United States Tires. A saving to you and the dealer. Remember the new kind of tire merchant when you are thinking of renewing your tires. er Company