Evening Star Newspaper, March 17, 1921, Page 26

* 9% THE EVENING AR, WASHINGTON, D. C, THURSDAY, MARCH 17, 1921 S | ADOPTS CHICAGO HOURS. , s | | equal to about 24 per cent on the cor- NET EARNINGS MILLIONS. |5oriion s oitstaniing capital stock | i B0 The” last" two vears i3 still of $40, 48, Dividends of 6 per cent S | held in stock here or in ecastern i - | were paid-during the v amounting | Noon prices reported to The Star over direct | SHORT-TE:NM NEGURITIES. warehouses Consolidation Coal Company Re: 11914, surplus for | ber of commerce announces that it New York-Washington wire by Redmond & Co. | & Co) Honolulu, following the example of ports Surplus at Meeting. | will conform t wing | g, omer | California orange growers and sim- A MO i et s | hours of Chicazo in oper clos- | 5 947 | llar organizations, is planning a cam- Ings Tast year of the Consolidation| MIBERTY BOND N0oN PRICES. |\ (Mo IO AR AT : B50E | e incanpie, It s eatimatea hat Coal Company from operations were NEW YORK, March 17.—Prices of \ihange will SuiTateion thell Juoit | the pack this year will be more than greater than those of any other vear ere. 3 earlier hou fepends on the de-| i s G Jn th 0% | 6,000,000 cases. i in its history, with the eption of is, §7.02 | ¢isjo; York exchange. | —_— ! Aunennde o s o e rind It is announced that practically all }’9‘: a'xl;hn compan sémlm net :n me . s_nm"; :‘z Both commerce and | 3 Anglo Anerican (i 78 ;-f lh'» carry-over Sugar dut;;ck l;‘t*ld sources exceeded even third fourth 3% Merchants and Manu i Arinur & i, | here by the California and Hawaiian 1917, but included in it this year is : vietory 1 victory 4 ion favor congressional lFarSlghied Dealers SO'VEI‘ Wethichom &1 #iiy | Sugar Company, amounting to some- 83,588,578 profit from the sale of the shing daylizh & Trade Readitst t—C I thie 9744 | thing_ more_than 100.000 tons. has company’s Coastwise Transportation castern time zone — - uing | been sold. Raw sugar is now moving | cofl":x{r;;fl,}:fsnt“y e vl Wirel ————'—“A ‘\ rage neaajustmen on altimore At Ohl e | from the islands o o year g ) ess —————— s more and Olo Gx......... 4 to dividends is $9.560.450, which seventy-five e is no wax in sealing wax. | ditions Elsewhere. :‘L“':Hn.'u.‘ nd Obio 8. W. Div. 310 o | * ok ok %k i L i 5 5! s —| l ctilehiem teel peti. ... el Dunineas Notes. : i ON. | c ML NEW YORK, March 17.—Following | speciar 1 The St | #4% | reports from the northwest that rail- he Star. I¢ $7% | roads are contemplating early reduc- CHICAGO, March 17— Reductions | Cheebeake ua @i jtons in both passenger and freight Of 10 o 15 per cent in the prices of | L ML and rates. Daniel Willard president of 2 oa . 4 | I AL ShRe. Bt fonv. 4 the Baltimore and Ohio, has issued a proximitely half the chines it Chicugy Northweatern statement. in which he declares that manufaciu is the contribution of § Rock Ivlund and while rates will not recede to pre- [ the International Harvester Company Univn Station | war figures they will keep pace with duted the lower trend of commodity price to the d farm er a a Dimini vird it hard tion stri of 1d Hundreds of dollars in your pocket is your gain in obtaining Velic Six, rew 1921 model 34, at its present low figure. A Six at the price of a Four. Ever since its introduction this remarkable car has maintained its unique position—that of the finest, most powerful, most economical Six produced af anywhere near its cost. Back of this roomy, stylish Six is record of triumphs in stamina, in fuel-saving and low upkeep of which the makers of highest priced cars would be proud to boast. And back of it is the Velic pame which insures the quality. An amazing motor, restful, genuine leather upholstery, Veli: lasting mirror finish, and Cord Tires All Around hav busincss, But manuf dem e Judgment, av job it s beeim nien who know o do busind busi cmind for lower cost. It i wowledgement of both th linished purchasing pow- of production which ex- mand. shed production or operat es mark King retura care in man exp e mone dit n T rth the are -to inst of for, v time en of little importan o in S o it zood wi had a the do tnce, tine re er heir ty Ic v p Ta t bus pre il oo resight Big Asxet. pagement 5 one one the - rul The clof to mee rices or Many Influences at Work. influences “ANY jon tuerce | ¥ condi manaze- war how the ones who will th depressed. clothing L a . reduced not caugat wifh long Coma end wer i+ o6, phone for demonstration, S patcngst Tove o The wool situation is bad b Conpe i Koadter o fnyichnssis. I dealer from Utah visiting in UNGERER MOTOR CO e 15 ' | wool stored in Salt Lake City. “We 1136 Conn. Ave. [ Wil have 1o have higher tariff duties 1 Telephone Main 8233 Space 6 at the Auto Show he said, H"‘:!l\:; 'llh:_"'f : but that is what {we want no market for wool. Limportations reoin sin; because } to be both a tariff and | higher tariffs and a \ trade is incongruous | onomist L r exports Velie Six Model 34 Ask an why they recommend "Comell We have handled all other varieties of wallboard from the cheapest to the costliest, and we never found another that gave such universal satisfaction for permanent walls, ceilings and partitions. One reason is Cornell’s “Triple-Sized” process which gives Cornell panels triple protection against moisture, expansion and contraction. This is why Cornell can be guaranteed not to warp or buckle if simple directions are followed. Anyone who can handle a hammer and saw can apply Cornell to the joists and studding or over damaged plaster. Cornell’s exclusive “Oatmeal”” finish makes hand— For Sale by: WASHINGTON W. T. Galliher & Bro., Inc., 13th & B Streets N.W. Frank Libbey & Co., Cor. 6th St. & New York Ave. N.W. / of these Progtessive Lumbermen VIRGINIA Alexandria — Alexandria Lumber Co. Wm. M. Bucher & Son. Manwu—Cl o(x:':well Sup- Gaithersburg — Oscar F. ply Co. la an ssary import < form Jaw York Trading Brisk stion of fi week I of the apps brisk w pring w chiefly has el ot nd en del promise "Panels some interiors in homes, factories, offices, garages, stores, summer cottages aig farm buildings. Because of the “Mill-Primed” surface Cornell takes a perfect spread of paint or calcimine without the work and expense of 1 priming coat. Tell your lumberman you want Cornell-Wood- Board—no other s like it. You can tell the genuine by the name on the edge. Write for sample board and book No. 61 of beautiful “Cornell Interiors”—FREE Corncll Wood Products Co., General Offices: Chicago Water Power, Mills and Timberlands in Wisconsin In these days of high rents Cornell’s low prices make this the ideal time toutilizeall spare space. Repair and remodel NOW! Warrenton — Warrenton Supply Co., Inc. MARYLAND Fulks. and | Caution Dominant Mood | BY JAMES ALLERTON. b ceial Dispatel to The Star. W YORK. M —Under the ther, al ac- in i become ven though the yed until ten | that practically all of the California TODAY’S BOND PRICES. Rat will not go to pre-war levels villard said, because he does no t that wages or materials will that low pid “Transit Int and rof “Bul. relatively, and compared to lauissdlew other prices,” he added, “1 expect fc Mhsnonnt 1 #ee the railroad rates and charges Sew York Central Tu 19 Just as low as they have ever been b Yok Centinl deb, 6. in the past. and lower than in any 2"“} ‘A"" 'l; s, 7 sther (I({u xfx'r)-. Private ownership orfolk ung W v o sl annin can well afford to stand or fall on % ubourd Air Line adj. liern Pacifie 15t ref. 4 3 louis laid on the table. ithorn Puciic conv. .. Vienoa 3 ! P i Rallvar gen. .. French NEW YORK, March 17.—With some o Pa < £ French degree of timidity the manufactur. nion Pacitic .oy Bl vie % of ribbed underwear are making s 1928 ALl fall prices known to the trade. Base War Itallan o= Itajinn nof Belginn Rest un Prem. prices show sixteen-pound union suits for men ranging from $9.50 to $12.50 per dozen. Women's ribbed union suits | are held at $10.50 @ dozen With sepa- rate shirts and drawers at $6.25. * x ¥ % NE® YORK., March 17.—Buvers in the garment trade are complaining of the practice resorted to by some manufacturers of selling available stocks to the highest bidder. Buyvers say they have beén compelled to meet competitive bids even after they have placed orders. * ¥ * ¥ CHICAGO. March 17.—After-Easter market conditions are being studied by the jobbers in women's ready-to- ates Rubber that the volume as a whole will com- pare favorably with that of last The tone of the business community come the waiting game will be the| rule everywhere. i year. has been sult appreciably raised as a re- ngh Frelght Rates Burden ution continues. however, to be a California Fruit Growers dominating mood. Woman buyeéts, for example, seem to have agreed upon BY LYNN C. § % @ ximum of $100 for suit ‘n AN STHESONT in the 5th avenue shops. An average of $75 might be struck for all classes Special Dispateh to The Star, SAN FRANCISCO, Calif., March 17.— et e oa are | The menacing wituation in the rail- | wear ciothes. The spring business 0 a0 wuit a in reatest de-| 7080 and packing industries has af- | has been a very large one. and some s e Tor . ap. | fected business in t fct a jobbers are predicting it w 0] nand. e trade R e sy | retallers have held o oistrict and | Zood until June. Others, more cau- parel in! general, willen is ma Y| s possible Gwing Lo uneertainty ag| tious, are placing a limit on their or- the largest of them all & er time. |0 (i future, | Trade ix distinetry of | ders. The Eatter demand has been is following the same general course ot ETAtifYing. BOURSE PRICES FIRM. a_ staple character. the bumden of high fi ! fruit Some idea of | ight rates on Zrowers and consumers can be ed from tih 4 of Greater Buying After Easter. While this experimental period la ctailers continues 1o be o oa of stock re- hipped to Chi-| PARIS. March 17.—Prices were firm When the Easter rush g 5 cents a dozen. [on the bourse today. Three per cent P aver buying miay be expecled t0lfho canioiersy Of vital intereat to|rentes, france 83 centimec: ex- e oY colume., for not | e (lalifornia dried fruit industry | change on London. 56 francs 35 cen- come greater in volume for not and to castern trade as well has been | times: 5 per cont loan. 83 franc I el es AN oot the | ifegl fo the United States Ship-|centimes; the dellur Wb quoted at 14 & 5 A -4 0 D! ion. Some we 21 il public may be more accurately |ago representatives of fruit me“":}frucs 421; centimes. gauged : L q secured a reduction in the rate of = ST In manufacturing r';n-nes”nuen-,«v. California dried fruit shipped in bags OIL STOCKS. continucs to center about issue | to New York by water. Th v d by W. between the cmployers and th rate was a cut from $1.10 per hune gmistieca e x::uaAc. gamated Clothing workers at- | dred to 60 cents, against 90 cents for | Anglo-American Oil Co. (mew).. 17% ~ 17% erally this has been fl:l(lnndlul outside | boxed fruit. Atlantie Refining Co. 900" 850 - {the city evidenced when al Rorne-Scrymner Co. 30 30 strike was called Tuesday in Phila- _ Eiaw Packing in) Kast. 8 M delphia to-block 1t is the plan of the growers to 1/ 200 the trans there from factories in th the various court actions are ing to hold the situation a been. stronger to agree upon some, basis of k all their dried fruits N wn plants in the east. in this reduction the destruction of the packing industry of California, as they cannot ship boxed fruit and compete with the in their Packdrs saw it but the inclination ix growing has G Iilinois Pipe Line Co. action, so that operation may he low rate ranted umad with % Mete further dela the growers. They demanded & sime | Indiana Pive Line Co i { possible when the main issue has been | ila¢ Teduction. No agreement with | ¥ational Trnelt Co. % Doted. whichever way that may be. | the shipping companies was reached | Noriurr poe Tane. Cor.. " ; " |and the case was referred to the Sip- | oma ON Cororrreerovreriiiill 208 Strikes Being Settled. ping Board Lt iy e s Other rikes are being settled, no- | Under the new system, it is claimed, | Prairie Oil and Gas Co. . 450 tably thdt in the children’s garment | Practically all California dried fruit | Prairie Pipe Line Co. 290 industry, but the outcome of ths ! Will reach the east by water, there | Solar Refining Co - 380 struggle in the men's clothing field '© be prepared for sale. S A 2o Wi e " the controlling | factor| While ool growers of the western | Noithwest. Penn. b i fhraugTont Mmanufactuciiig: states are preparing to form a pool | Standard 0fl Co. Caiifornia.,... 296 D e e s dation may | L0 _control “and market their crop, | Standard O Co. Indisna w3 be expected to sweep ahead cve! according to reports, Australian shi Standard Oil Co. Kansas 575 e hore e Py eommpromise, | Pers are pouring wool into this port, | Standard Ol Co. Keatucky. 390 Flverand-take may be lookea for ug|One ship this ~week brought 2,10]8tandard O Gs. Vebraske 440 the basis of readjustment. At the |bales, following a shipment which e o o e EH moment progress is being made al-| W48 (Ven arger last week. Swan & Fineh Co. 40 n Tank Lie Co. 106 Two-Year Wool Crop Held. Tain Well informed wool men here say ' wi most imperceptibly, nad no one looks ! for much else. For a long time to MOTOR CAR It is owned by many who can afford to pay anything they wish for the things they use. It is always ‘bought because of its known value and its after economies. The gasoline consumption is unv-1ally low. The tire mileage is unusually high Semmes Motor Company, 1132-1134 Connecticut Ave. Telephone aeso Member Washington Automotive Trade Assoctation Space No. 14 at the Auto Show { i ' i 1, German goe 4s. 1L Gorman gov. G PHILADELPHIA, March 17.—Un- Krupip 4» : der the ery “Give us something for e e our money” stockholders of the Danzie 1 o gl Philadeiphia Rapid Transit Company, Durmstndt i Nord 1. Tauk i who are recciving no dividends on Inesden 4o reuss Bank 45 $30.000,000 of paid-up capital, have | Rertiner Bank 4% demanded passes on the system. Aft Vieuna er a lively debate the resolution was (600D INQUIRY AR LOCAL SECURFES Bonds Are Favored by In- vestors—Reserve Board Review—Street Notes. BY L A. FLEMING | TLocal securities have failed to re- flect in any manner the weaknhess on Wall street, nor i there any good | Teason to anticipate any such action. During the entire period of inflati on Wall street the focal market wi more or less in the quiescent state, un- certainty regarding iocal utilities and their ability to weather the increased cost of operation restricting opera- tions, With this problem out of the way public utility shares have made fairly £00d recoveries and for some tune have been holding decidedly firm. Today's transactions were near the high prices of the last few s wit uo indication of selling pressure. Wi notes hrought 1001 ion s were a Mi- le otomac Consoli- brought A3i,, Washington and Railway 4s 531 Bonds furnished the greater part of | the business of the session. Capital Traction shares steady at 86 Washington Gas, 43. Continental Trust around 101. Look for Lower Rates. Easier conditions in the money market are in plain evidence il have induced bankers to anticipats lower rates from the Richmond F er: Reserve Bank. For months the rates have b {held up. serving as a check the | industrial situation, but the feeling is that the need for the check, has been removed and that there woulg {be & material betterment in busines conditions if the rates were now low- | erea. |, On all sides the work of deflation {has proceeded. in some instances or- derly, in others hasty and with seri- jous Tesults, but the lessons have been learned and any aid to business re- covery would be gladly welcomed. The government itself is borrowing money at 5% per cent for one year and 5%, for six months. Commercial paper discount rales are 7 per ce Bankers hold that it is time for a change to help business, especially |28 inflation has ceased and many | frozen credits have been thawed out. Dividend Declared. . regular quarter] the Continental Trust Company. pur cent. will be payable Mirch to shareholders of record March Busineas Unstable. The Federal Reserve Bulletin for March quotes business and indusirs awtn “a transitiona) and unstable cor dition.” The board's index number o wholesale prices shows a further ri- duction. Buying is still largely con- fined to immediate needs Stocks of goods have been gre reduced while “a large volume of po- { Lontial buying s in sight, but it has not become actual.” | A net gain is shown in some im- portant manufacturing activities, not- ably shoes and textiles. The em- ployment situation in these industries is somewhat improved. A steady increase in the ratio of reserve of the reserve banks has con- tinued throughout the month. The valuation of building permit in the fifth district, during January decreased 45.4 per cent Retail trade in this {Afu shows r shares closed n vidend of 10, 31 an increase of 5 per which is something in the way neourage- ment. Wall Street Notes. February gross earnings of the Cities' Service Company, $1,442.699, a decrease of $669,065 as compared with the same month of 1920. For twelve months ended with February !the net earnings were $23,049,367. an increase of $3.373.884 as compared with the previous twelve months. After paying preferred dividends there remained $16,382372. The Interstate Commerce Commig- sion announces that it has certified partial payments to railroads to the amount of $40,779,990 to twenty-one roads. It is said that the Corn Products | Company will retire a large block of |preterred stock. < Standard Oil of California made net earnings of $41.6 taxes, with an increase in profit and {loss surplus of $64.186, After de- lducv.inns depreciation. - depletion and | | | | federal taxes, the net profits were $41.655,254. or $41.92 a share on the capital stock of the company. Nearly $31,000,000 corporate bonds mature in April. and over $9.000,000 public utility bonds, with over $5, 000 industrial notes. Money appears in large supply. The heavy oversubseription to the Treas- ury certificates was followed by 6 per cent call money, and some loans in the open market at 53. Ford expects to turn out 63.000 cars this month and $0,000 next month. Regular dividend on Crucible Steel payable April 15. Nearly $9.000,000 gold is on its way to this country. —_— EARNINGS OF $12.000,000. Chicago Tractions Prosper Under 8-Cent Fare System. CHICAGO, March 1 —Elrnlnx!#f $12.000,000 under an S-cent fare are shown by the annual report of «the Chicago city railways, the surface lines, for the fiscal year ending Jan- uary 31, 1921, just made public. Gross earnings of $55.327,384 and expenses of 1$43.300.309 were reported. These figures compare with earnings of a proxinately $10.000,000 in the preced- ing year. Leonard A. Busby, president of the company, in his report to the stock- holders said that “on the basis of the present wage scales a 5-cent fare would fall short by more than $7.000.- 000 a year of paying operating ‘ex- penses. Eight-cent fares were instituted on the surface lines last July. BiG IMPORTING FIRM FAIL! Gaston, Williams & Wigmore if Receivers’ Hands. NEW YORK., March 17.—Judge Julius M. Mayer of the federal dis- trict court late yesterday named.re- celvers for Gaston, Williams & Wig- more, exporters and importers, of this city. The liabilities of the firm"were xiven as approximately £6,000,000. The receivers are former Gov. Benja- min Odell and former Judge Yan Vechten Vee@er. The appoiniment was made in an_equity suit brought by the Sumner Company. machimery manufacturers, of the state of WasHh- ington, with a claim of $60,000. The assets of the defendant consist :I stock in twenty-five subsidiary comk- panfes located all over the world,- The largest of these is Gaston. Williams & Wigmore, Ltd, stcamship owners, of Canada. SHOWS NET INCOME. BALTIMORE, March 17.—The West- ern Maryland Railway Company wiil show net income for last year, .in- cluding its compensation from the federal government and revenues from private control operatious,’ of about $3,347.000. according to atemis- tive report submitted by Presidetit Byers, Fixed charges for the year were $2,823.000, leaving about §924,000 surplus. r The stockholders re-elected the entire board of directors. —_— Scott Ferris has been appointed a vice president and director of the Imperial Oil Corporation. He represented the fifth Oklahoma AMistrict in the House from the admission of the state In 1987 until March ¢ last.