Evening Star Newspaper, April 2, 1921, Page 16

HE Most “Livable” City in America There's sa much here to attract that all Ameri- cans and many foreigners find residence in Wash- ington supremely desirable. Property ‘here has staple value. Clients who are directly interested in property as prospective buyers want to know all about what they are interested in, from every angle—price, prospects and probable future—and the information is here that can be depended upon. Our Service demonstrates “Maximum Service.” We invite consultation. A Chevy Chase Offer: Beautiful home completely detached, on large lot; house contains eight rooms and bath with extra lavatory; sleeping porch; comfortable front and double rear porches; all modern improvements, hot-water heat, electric lights, open fireplace; hard- wood floors and trim; garage. You will be pleased with this home. Inspect. Price $16,000. Real Estate CKEEVER =GOS [ShissZRurers ~Loanc] 1405 —Eye Street. NW Washington Real FEstate Board Mezimu ervice Members In Beautiful North Rosemont, Va. tv of Waxhington city—20-minute ride from 1Zth 50 2 LIKE RENT m U this preporty take the Alex- es, ine andria electric cars at 12th and Pemn. b bowls wrd Ave. and get off at North Rosemont, 0 others bave the best up-fo- and walk east one block. Agents will araees. These same housés located Chase would easily bring §1 s re located at twa' minntes” and Washington @ectric twealy minates’ ride from Washing Warren Cochran Main 5918—Main 307 be on the ground all day Sunday, or phone this office and a salesman will call in an aatomobile and take you over. a prie very e less than ordinary reat. small cash payment BUILDING MATERIALS GOVERNMENT WAR OFFICE BUILD- INGS BEING DISMANTLED AND SOLD Mall Bldg. “A,” Mall Bldg. “B,” Tempo. Bldg. No. 8 The Largest Wrecking Job of Its Kind in the U. S. 7‘ 21/2 | Toilets | Lumber i ‘White s"““fm' f Vitreous Flooring | Low-dowri 2x6, Zx: i Bl’er‘l Outfits 2x10, 2x1Z J oar - ot for | Lavatories 2x4’s, 2c per lin. ft. Windows Complete Doors (with hardware and frames) Wall Board, 1Yc Ft. Sidney L. Hechinger Housewrecking Co. Camp Meigs, Main Office & Yard, 5th & Fla. Ave. N.E. Complete Steam Radiators Pipes and Valves Uripals and Slop Sinks Roofing “Electric Fixtures 3815 Ingomar Street An attractive home in one of the most desir- able sections of Chevy Chase, D. C. House contains 10 rooms, 2 baths, has glass inclosed and heated sun parlor, hardwood floors, hot-water heat. lot 180-ft. front, inclosed by privet hedge and improved by great variety of shrubbery. Garage on rear. Price and terms on application. Exclusive Agents JOHN W. THOMPSON & CO. - Incorporated——— | 821 15th St. Vv Main 1438 AT PRE-WAR PRICES| ian Packing ; | Intercontinental Rubber: CHEVY CHASE HON’I.E--‘ THE EVENING STAR, WASHINGTON, D. C, SATURDAY, APRIL KANSAS CITY BUILDING BOOM INDUSTRALSARE UNDER PRESSRE Motors and Beet Sugar Are Severely Raided—Har- vester Shares Recover. BY STUART P. WEST. NEW YORK, April Helped by the usual uncovering of special points of weakness in various individual stocks, pressure was renewed in the market this morning. There was no important decline, however, in the general lis The bull following built up on preceding days in some of the motor shares closed out their committments hastily_when other things began to sag. "This carried 8Chandler, Stude- baker ‘and the rest back over the ground which they had galned yes- terday and the day before. Bethle- hem Steel B proved somewhat vul- nerable, but, on the other hand, Steel common stood up well. Atlantic Gulf, after a further break at the opening, railled sharply, the treet seeming to take a favorable iew of the news that the comggny hich it was carrying at the bank. Harvester recovered with co erable violence on the statement by the president of the company, deny- ing the rumors that were respon- sible for thes break in the stock, and declaring that its credit requirements were smaller than usual, and such as they were had all been provided for for the current year. Beet Sugar Soft. American Beet Sugar broke ivery badly to a new low record on the publica: tion yesterday of the news that the directors next Tuesday will probably pass the dividend altogether. Ami ican Sumatra was again heavily sold. and Continental Can was affected by consideration of what the severe dam- age to the fruit crops by this week’ frosts might do to the company’ earning: Pennsylvania made a new low un- der the same sort of selling that has been so persistent for.the last month, but other rails held fairly steady, and, in fact, were scarcely deait in at all. The “strike crisis in England con- tinued to affect sterling exchange, which was down. Steel Cutting Denfed. Wall street was in receipt of & re- port this morning that the Steel Cor- poretion within the next ten days or two weeks would announce a out in its prices for steel products, and at the same time would announce a cut in wages. The cut in steel prices, it was said, would be approximately 123% per cent, while the cut in wages would amount to 25 per cent. This latter, it was expiained, would be _effectea through a reduction in working hours to an eight-hour basis. This report was denied in Steel Corporation cir- cles. The head of the Steel Corpora- tion will be back in New York next week, and it was the belief that the above report was circulated in an effort to sway him. Atiantic Gulf. Action of Atlantic Gulf and West Indies in the market of the last hour yesterday bore out the reports which were circulated after the close and again today,’ that one of the biggest operators on the short side had been “playing” with the stock. This man was credited with having pat it up to above 40 and then to have krocked it down in the space of a couple of hours to around 33. The stock this morning gave every indication” of short cover- ng. Laclede Gas.® The spurt in Laclede Gas this week was brought about By a jump in the selling rate of its product, it was learned from western sources today. It was said _ghat the rate had been jomped 1 5 to 1.05 by order of the court. ————— CURB STOCKS. Quotatiems furnished by W. B. Hibbs & | Ba2e sunben N g# '“t“# xo st R 3 e ot % ‘.!‘;.. & sanaboni Hercules = 10 International Petroleum (uew). 15 Ty County - Gis lfi Lake Torpeto ayne Coal . | Weat Ead Oons Armour Leather ptd. Armour pfe Cudaby Packing Libby i i ) § H 7 it e i thp g i German go L13 German gov. 3138 13 .| the deftation and readjustment in { coast REPORTED Big Realty (Dispatches marking the progress of ocens business threughout the country, giving the conclusions of special cor- respondents who have been instructed to preaent conditis a indications they really exist, are printed daily in The Star.) BY DICK SMITH. Special Dis 10 The Sta: KANSAS CITY, April 2.—A big build- ing boom is just around the corner, in the opinion of A. M. Bonfils, one of the largest real estate owners in Kansas City. 5 nvestors who gre tired of putting money in stocks, often only to see it wiped out, will Welcome an oppor- tunity to invest in something as tangible as real estate.” he said. “Material men should hasten the re- duction of dosts. Only by taking a temporary loss can they get into quantity pro@uction. Once in quantity production. lower ptices will be profit- able” Ceal Price Prospects. What apparently is a forerunner of ! a general reduction in coal prices came yesterday when the McAlester Coal Company, one of the largest pro- ducers of Oklahoma and Arkansas coal, announced cuts of $1.25 to $2 & ton. 2. G. Puterbaugh, president of the company, stated the purpose was to induce dealers and consumers to put in supplies for next winter. “The new prices,” he said, “are made to stimulate buying and keep labor employed. Prices will be advanced 25 cents a month until September. After that they will be governed by conditions. There is no possibility of prices next winter falling below tuose offered now, s mine wage scales run another year. Crop Damage Discounted. Producers say it is an effort to make miging a year around industry instead of 'a seasonal one. Both consumer and coal men will profit. they say, when this is accomplished. Reports of damage to crops that fol- lowed the eastern freeze are discount- ed by later information. While there was loss, especially to fruit, the situa- tion generally is good. Curtailed Production in Pacific Northwest Report BY PAUL HENDRICKS. Speciai Dispatch to The Star. SEATTLE, April 2.—Curtailment ot production in basic industries of the! Pacific northwest continues, affecting copper, lumber and coal, but there are bright spofs, one of them the steady recession of the cost of food, especially flour and canned fruits and vegetables. ‘The only large copper-producing con- cern running at near normal capacity in North American is the Kennecott Copper Corporation, at Kennecott, Alaska, directly connected with Seat- tle by steamship and the railroad. The Kennecott, operating at 75 per cent capacity during the past year, produéed 4,500,000 pounds of copper per month. Canners Take Big Loas. Today its mine at Latouche on the of Alaska, employing a half crew Qf three hundred men, was shut down.' No intimation is given now of a shutdown of the big Kennecott mines. A cut of 30 to 50 per cent in the selling prices of California canned fruits has been met by Oregon and Washington fruit canners, which have taken & heavy loss thereby. Plans have been perfected by fruit and vegetable canning companies in ‘Washington and surrounding regions 717 14th 1633 ing Rock Cre: rooms), 2 tiled other modern conveniences. Mount Pleasant, one of Wash Immediate possession. terms. For particulars call Mr. H. L. N N OPEN SUNDAY—10 ‘war prices. Come out and investigate our h Street past General Pershin our office.) Phone Main Operator Gives Views on Situation—Cut in Coal Prices—Con- ditions in Other Sections. P April 1 than on March 1. These figures APARTMENT HOUSES FOR SALE We have cash buyers for apartment houses of any description. If you desire an advantageous sale, list it here. GARDINER & DENT, IN Open for Inspection Sunday from 2 to 5 P.M. This attractive semi-detached brick home, overlook- - Park, containing 10 large rooms (6 bed- aths, steam heat, electric lights and many dential sections, and enly one-half s§ua Very attractive and reasonable Exclusive Agent, L Chevy Chase Park, D.C. Extraordinary Sale of a few choice lots at less than pre- Surrounded by beautiful homes and large estates; restricted against business, rows of houses and apartment houses. Only one carfare over the best line in the district. Yesterday the lots were surveyed and staked out. can be readily located. Salesmen will be on the ground all day. a few lots—only a few people can take advantage of it. (Take 14th Street car marked Chevy Chase to Chevy Chase Circle, turn to the right and walk one block on Western Avenue to Rittenhouse Street and again to the right on Rittenhouse gqs place and you walk right into WILLIAM E. FOWLER & CO. 819 15th St. N.W. : \ NEAR AT HAND to merge interests, eliminate wemk plants, consolidated selling and ad- vertising and cut prices of 1921 prod- ucts to near pre-war basis and float a $10.000,000 corporation. Egxn, Butter, Flour Lower. Ranch eggs and butter in this dis- trict are about 20 per cent lower than a year ago. Flour now retails at $1.25 a sack lower and the whole- sale price of potatoes is $35 a ton now, compared with $140 last year. The automobile trade in the Pacific northwest is dull, stocks abundant and demand slack. Activi}y in Motor and Tire Industries Grows BY G. T. ROCKWE! Special Dispatch to The Star. CLEVELAND, Ohio, April 2 tivity of tire manufacturers in north- ern Ohio is reported on the increase as a result of the abnormal use of the utomobile during the winter, brought about by moderate weather. Goodyear officials expect to expand their force by 1,200 persons shortly, and to increase their output to 16,000 tires a day. Firestone is also speed- ing up by working two shifts each cight hours, while increased business is reported 'at the Miller plant. The American Tire Company of Akron re ports that it is working 100 per cent. ‘Working Forces Increawe. Evidence of increased business at the Cleveland automobile plants is produced by figures showing that 1500 more persons were employed were compiled.as part of the monthly survey conducted by the chamber of commerce in co-operation with the United States Department of Laber. The eighteen motor plants reported April 1 had 8,103 employes, compared with 6,532 on March 1. The same plants reported 5940 persons em- ployed February BUSINESS NOTES. DETROIT, April 2—Dgtroit fac- tories have rehired 100,000 workmen in ninety days. Chester M. Culver, manager of the Employers’ Associa- tion of Detroit, which comprises sev- enty-nine factories, including Ford, made public today complete figures for three months,” which showf 132,- $58 men working on full or part time today compared, with 38,000 December 31. More than §0 per cent of the large factories have reported resump- tion of production schedules ransing {rom 50 to 100 per cent basis of utput during the same period. NEW YORK, April 2.—There has been a great inflyx of buyers -since Easter, and it is apparent that Easter sales, coupled with canservative buy- ing last fall, have just about de- pleted many stocks ip the out-of- town stores. The movement of buy- ers is mot confined to any-ome sec- tion of the country. Buyers from the Pacific coast are on their way. Care- ful buying is looked for and the dealers. who have adjusted their prices properly will reap the great- est benefit. NEW YORK; April 2.—A large cloth- ing~ concern, dealing especially ‘in young men's apparel, is conducting a campaign of education for the re- tailer. “Keep your feet on the ground and a level head,” says the latest an- nouncement, and continues: “The overcautious, and _ continues: “The to ever branch of the clothing indus- try, due to the drop in prices, is now giving way to reaction. Delayed spring buying, as predicted, has re- suited in a shortage of desirable! spring clothing. Don't speculate un- | der the impression that there is a real shortage—just buy according to your requirements, but buy early and St. N.W. ‘ Street N.W. . Lot 23x115. Located in ington’s most delightful resi- re from car line. Boteler, Columbia 5637. RUST 912 15th St. N.W. Tt AM. TO 5:30 P.M. ‘They ome-building proposition. Only 117 L I A A T e N U16—8417 ‘| American mills, will be disposed of 9 9 1921—PART give the manufacturers the necessary to fill your orders.” ATLANTA. Ga, April 2.—It is the view in Atlanta that nothing will con- tribute so much to the permanent restoration of business in the south as the sale of the so-called low-grade cotton, which has cluttered the mar- ket and depressed prices. The plans of the administration at Washington, as understood here, contemplate a financial arrangement which will en- able the mills of Europe to buy and spin the cotton. If a workable plan is placed in operation. this low-grade cotton which cannot be spun In time and the situ; NEED WAGE ADJUSTMENT | IN TEXTILE INDUSTRIES ion emtirely relieved. ‘Workers Highly Organizea and Largely Unemployed—Producers Cut Prices 50 Per Cent. From National City Rank Circular ! The eastern trade in cotton goods was good and there was a rally of % | ale | buying, asi every such attempt has done. Th cotton goods trade continues from hand to mouth. The trade in light- weight underwear has heen £00d, but little is doing in the heav weights for fall delivery Woolen goods for fall delivery hav been selling very well at the reduced | prices, although the clothing indus- try is only moderately act . It af- fords another illustration of the me- cessity for wage readjustments, The producers of cotton and wool are re- ceiving less than one-half as much for these materials as one vear ago. the employes of the cotton and woolen mills where the cloth is manufac- tured have taken a wage reduction of 21 per cent in New England and e in some sections of the country. The clothing tralles are highly or- ! ganized and are standing out against any wage reductions. Wages are very much higher in relation to the present price of raw materials than ever befgre. The farmers who produce the wool and cotton are obliged to pay prices for clothing that under the circum- stances. are unfair to them, and that is true of all the workers whd have accepted reductions The result is that the sala,ef cloth- ing has fallen off, and, although the clouhing operatives are maintaining their wage scales, large numbers of them are out of waori- Actual earnings in the industry are | less than they would be at lower age rates and a general state of employment. A British View. James Nesmith. a British expert in the cotton trade, has recently ex- pressed himself upon the future as follows: Five-sevenths of our Dancashire cotton goods business, for example, is for export aceount. And that indus- try today is idle about five-sevenths of the time. Yet we feel the bottom of the world trade depression _has been seen, and that recovery is near. ) Providing of credits and better pro- ductive effort in all coubtries will give the new stimulus. Human needs will supply the demand. ¢ 1 ook, in fact, for another wave of inflation to set in“soon, though less violent than the last. I agree with the theory that a leading British banker recently expressed to me—that the world will see about seven years | of recurring peaks and vallcys in ac- tivity and prices, with each fluctua- tion less than the last, uatil stability is reached. The same prophecy was made to me by a British industrial leader as early as 1916, with a time limit |fiill put at ten vears. In our owm indus- try, for example, despite today’'s de- pression, I venture to assert that the world will find itself before long ac- tually short of textile machinery equipment. —_— King George's life insurance policies total something like $10,000,000 - in value. 1 ing. On Mass. Ave. Between Dupont and Sheridan Circles High-class residence containing about 14 rooms and 3 baths, all modern conveniences, very desirable lot to an alley. OPEN ALL DAY SUNDAY 1647 Harvard Terrace A wonderful situation for a home, just a little off from 16th Street and Columbia Road, overlooking Rock Creek Park. One of the most exclusive residence sections, with - $30,000 THOMAS J. FISHER & CO., Inc. 738 15th St. N.W. an outlook that cannot be surpassed in the city. An en- tirely modern, up-to-date house ; a home that cannot fail to please you. To Let Apartments ‘The Chastleton New Portion Now Ready Sixteenth Street at R Housekeeping and non-housekeeping apartments. Inspect through R St. eatrance. ' The F. H. Smith Company Exclusive Ageats 815 Fifteenth Street Representative on Premises BOSS & PHELPS THE HOME OF HOMES Your Investigation of this Colonial Home Street,'turning west. Owner ad Builder Harry A, Kite —beautifully located on Macomb Street—Cleveland' Park —will result in a succession of agreeable sur- prises—for every housekeeper's wish has been gratified: every home thought anticipated— .and every element of profitable investment is maiifestly m evidence. You'll find nothing lacking to meet your ideal—and you will find many features that are unusual—but which you will greatly appreciate. There isn't a location in all Washington comparable to Macomb Street—nor is there a Home the equal of this handsome Colonial— Open for inspection every day and even- ke Chevy Chase cars to Macomb 1514 K Street N.W. Phone Main 4846.