Evening Star Newspaper, April 6, 1921, Page 24

FINANCE AND TRADE NOTES. London advices indicating that the British treasury plans this year to pay the interest of approximately $200,000,- 000 on Great Britain's indebtedness to the United States government are ac- cepted in financial circles as one more indication of the improving position of British government finance. PLACE WAS T0O SMALL » FOR SMELTER MEETING ERSEY CITY, N. J., April 6—When e annual meeting of the American Smelting and Refining Company open- ed today for the election of a new of directors such a large crowd of stockholders appeared that the regular meeting place was too small tc accommodate them and adjourn- ment was taken to St. Peter's Hall. The unusual attendance resulted from interest grow'ng out of charges mpde by Karl Eilers, a former vice Mesident, that the Guggenheim g thers, in their management had rated the company “for their own benefit.” The Guggenheims denied the allegation and recently asked former President Taft to investigate the com- y's affairs and render a “‘judicial ision.” He accepted the invitation, pending approval of the annual meet- General Motors Corporation has de- clared the regular quarterly dividend of 25 cents per share on the common stock, and regular dividends on other issues. The annual report for 1920 shows net earnings of $82,762,063, against $103,667,700 in 1919. The first German gold to be shipped to the United States on private ac- count since pre-war days is reported to be on its way to New York via Scandinavia. The amount involved is approximately $1,000,000. The annual statement of the Chicago Great Western raili shows a deficit of $2,530,682 for the year ending De- cember 31, 1920. —_— Automobiles cost as much as $100,- 000 each in Russia. ing. —_— London maintains a laundry school, where girls are taught the true art of washing clothe; 70"" 60,000 Wearers | “of Our Glasses ; —All Satisfied Customers of Our Optical Dept. Eyeglasses | —including careful, thorough e x a mination by one of our Graduate Optometrists—as low as —We are never satisfied with a pair of Glasses unless they are becoming and perfectly adjusted. That’s part of our service. \\.\n\«‘;!:’/n@/ | FAMILY JEWELERY = /RO AND S _IN\W/ Safe Deposit | Boxes for Rent I Banking Hours: PARIS BOURSE STEADY. PARIS, April 6.—Prices were steady on the bourse today. 3 per cent rentes, 57 francs 20 centimes. Exchange on London, §5 francs 20 centimes. 5 per cent loan, 83 francs 95 centimes. The g‘::‘llr ‘was quoted at 14 franes 9 cen- es. —_— C. & E. I. RAILWAY SOLD. DANVILLE, IlL, April 6.—The Chi- cago and Eastern Illinois railway, in the hands of receivers since May, 1913, was sold at foreclosure proceed- ings hers by Herbert Lindahl, master of ghe federal court of Chicago. rge M. Murray and Joseph P. Cotter, attorneys, of New York, repre- senled the financial interests who are to reorganize the road. —————— BAR SILVER QUOTATIONS. NEW YORK, April 6.—Bar silver— Domestic, 99%; foreign, 57% ; Mexican dollars, 44%. LONDON, April 6.—Bar silver, 33%d per ounce. Money, 5% per cent, dis- count rates; short bills, 5% per cent; !hrie months' bills. 6%a6 3-16 per cent. 5:30 A. M. to 5 P. M. On the 1st, 2d. 3d, 15th and 16th and last day of each open_until month 6 P. M. Except Saturdays. and 6 to 9 Open an Account Here and Pay Your Bills By Check “Better NINTH AND NEW YORK AVENUE THE EVENING STAR, WASHINGTON, AKRON, Ohio, April 6.—The stock- holders’ meeting of the Goodyear Tire and Rubber Company, scheduled for today, Monday, April 11, at 2 p.m. Officlals hope to have all detal with the refinancing plan cleared up by'that time, it was stated. LIBERTY BOND NOON PRICES. NEW YORK, April 6—Liberty bond prices at noon today were: 3%s, 90.30; first 48, 87.50 first 43s, was again postponed until connected Shipping Charges Ho tities of Fresh Vege —_————— bid; second 4s, 87.16; 0 87.80; second 4%s. 87.24; third 4%s 90.44: fourth 4is. 87.30; victory, 3%s, 97.54; victory 4%s, 97.58. e (Dispatches marking the progress of Studebaker Corporation has 50ld[the defiation and readjmstmenmt proc- cars for delivery in April, May and June far in excess of any previous year in history, according to an an- nouncement at the corporation’s an- nual meeting. The Canada Steel Company reports for 1920 net profits, after charges and taxes, of $1,855,404, or $12.19 a share, earned on its common stock after its preferred stock dividends. after taxes were $3,924,04 The growth of The Standard Savings Bank has been, and still because of popularity. Popularity gained through a conscientious rendering of personal service. clasp and a smile in it. Most people have financial problems Some are large, some small. not how small may be the servicé you require, nor how large, cvery member of the staff and directorate of this bank will combine to render the service to you. 39, on Savings Accounts. 49, on Time Deposits. ~STANDARD SAVINGS BANK €8s in business throughout the coun- try, giving the conclusions of spe- 1 correspondents, wi ave bee! icted to preseat eomditions and indications as they really exist, are printed daily im The Star.) BY L V. SHANNON. Special Dispatch to The Star. NEW ORLEANS, April 6.—If the plans formulated at the conference between southern bankers and the War Finance Corporation at Washing- ton this week are put into effect, as seems certain, the entire country will benefit by them. It is true that the greatcst benefit will accrue to the south, but the moving of two or three million bales of cotton abroad will make the remainder of the crop readi- ly_marketable. With the cotton market stagnant, as it has been for months, the south has been unable to buy foodstuffs from the west, or manufactured goods from the east, except in a moderate way. With its great crop again mov- ing freely at satisfactory prices, it will again become the best customer of the west and east. Cotton Market Depressed. The cotton market has been de- pressed this week by the labor trou- bles in Great Britain. This encouraged a good deal of short selling. Carbon black manufacturers, who are dependent on the great natural gas flelds of north Louisiana for their supplies of carbon, have been notified by the state authorities that the amount of gas available to them will be steadily reduced. They are now consuming about eighty million feet of natural gas a day. The authorities . feel that this product should be pre- served for the benefit of the peple of this state. 2 First Strike for Long Time. The first strike of any consequence in New Orleans for a long time is now affecting the shipbuilding and metal trades industry. The strike was brought about through an attempt to reduce wages 20 per cent and adjust working hours. It has had no effect 3 Its profits is, a growth Service with a hand- from time to time. It matters »” || Get the Tire Service Your Manufacturer - Intended You Should Y car owner knows what a difference it makes whether he gets a fresh live tire— or one that has stood around on some dealer’s shelf for a season ortwo. - Odds and ends, a job lot of this and that, are just as much a hardship to the dealer as to his customers. Nobody wants them —or will take them if he knows it The dealer does not like to sell them, but he has them on his hands —and there you are. Whatthe dealerwantsis a guick moving line of tires and tubes. Tires and tubes that come to you fresh out of the factory— alive with the service the maker put into them. You see now why so many dealers are concentrating on the wishes of ninety-five per cent of their customers. Why they are doing away with a litde of this, a little of that, and the odd lots that stick on the shelves. In short, the progressive dealer is looking for tires that will meet his own sense of responsibility to his customers — his careful selection of tires and his careful Concentration pn United States Tires and Tubes is the business policy of thousands of tire dealers today— and hun- dreds more are coming to this great and dependable line every month. The United States Rubber Company has always been in- terested in sceing that you get the right service out of your tires. It selects its dealers with that end in view. : Itbuildsaline of tires on which a dealer can concentrate and still have the variety, to meet the needs of every individual car owner. A complete and finished line, for all roads and in all sizes. At prices consistent with what car owners have learned to look for in high-quality tires. L L4 More tire dealers are concen. trating on U. S. Tires and Tubes all the time. Trade with them. Get the advantage of their superior purchasing power and their quicker turn-over. It is one sure way to get the Jresh, live tire service the maker intended you to get. United States Tires United States @ Rubber Company Tire Division Branch, 1303 H. St., N.W. D. U, WEDNESDAY, APRIL 6, 1921 goopvEAR DEFERS AGAIN. | D AN FOR MOVING COTTON CROP WILL HELP PLANTERS OF SOUTH ern Markets—Situation Elsewhere. | first quarter of 1921 1d Back Large Quan- tables From North- Iocally other than to = ll(;:'xllll-hlndulrlel, HeTh e g orthern markets are being de- prived of large quantities or!fvelh uisiana vegetables because ship- ments are being discouraged by the fact that they are bringing less than half the shipping charges when sold. s I8 In spite of the fact that the llnm:ert is paying only about one- Special Dispatch to The Star. thoHALADELPHIA, April 6. — While {he Industries are Very quiet and little I eioing in the building line, retail largocss keeps up amazingly. The "ld‘a department stores draw upon a e area outside of thig city, and numbers of buyers c h 1 Delaware, ey and thrifty commre, New Jersey and thrifty ities of eastern Pennsylvania. Merchants have cut down overhead charges ‘and are obtainin; 5 g greater ¢Mclency. As collections are satisfac- Shape. "¢ 1arge retailers are in good The wholesale hardware trade re- Ports sales about 12 per cent below Q;:t year, the decrease being greater tran early in the year. The leather ixade has passed the cancellation fiage and is in a more normal condi- Sbm: Groceries have receded in price out 25 per cent from the level 2 year ago, and the trade is more active. as retail stocks have become depleted. Ul*"--lnynen lerious Problem. memployment, whether voluntar: or i involuntary.’ is “becoming more erious. While state authorities now Dot iafe mumber of unemployed in ¢ ladelphia at 91,000, the chamber Phiiommerce estimates 150,000 in the bhllndelphla district. Shipping has een seriously affected. and there is little doing at the huge piers. Because of the strike of textile workers. a shortage is created of full-fashioned hosiery. Men in- the building trades are anxious for work, but the unions still prefer idleness to a cut from a wage scale which the public appears to be unwilling to pay. The crisis will be reached in this Section May 1. when wage agreements terminate. There is a vast amount of work to be done whenever workers will meet employers’ views. Conditions in New England Are Said to Continue Spotty BY EDSON B. SMITH. Special Dispatch to The Star. BOSTON, April 6—Business con- ~ome down is admitted even by the nion leaders in the Brockton dis- rict, but the workmen are not ready or the change yet. Makers of wemen's footwear con- tinue generally more active than manufacturers of men’s shoe: The leather nfarket continues weak. It is said that the Central Leather Com- pany will charge off several millions for depreciation of inventories in the Most of the job printers in Boston have gone on strike because their employers refused to stand for a re- duction from a forty-eight to & forty- four hour week. The bullding trades are still on strike, although some jobs are being operated on a non- union basis. BUSINESS NOTES. DETROIT, Mich., April 6.—The ex- tent to which the automobile business is recovering is reflected in the first offi- jcial report ever issued by the Ford Motor Company. available today. The report shows that in March 62,362 cars were shipped and 87,221 cars were sold. April, with the expectation that 90,000 cars will be shipped. The.total of em- phoyo? in all the Ford plants is now 48, second day of the t and ruj - tion of the Menn‘:?’smth &‘ 5::! Carpet Company totaled $700,000 for 12,- m Noel‘s." zlefl.:‘tlflend a little ogr open y, sales averaging on whole about 5 to 7 per unt‘hl‘herf =‘z:'ne‘;,%?43m' a d:clllln in some l.l'i- T cent over prices real- ized at the nm last fall. peh JERSEY CITY, N. J., April 6.—De- nial was made here at the annual meet- ing of stockholders of the Studebaker Wn"“ that _an effort was being le by W. C. Durant and others to gain control of the company. The de- nial was uttered by A. R. Erskine, president of the company, whose name had been linked with Durant in the re- ported move to gain control of the big automobile concern. ‘ NEW YORK, April 6.—A large 5th !avenue shop, which specializes in children's wear, has just made the interesting announcement that “there are no seasons In babies.” The an- nouncement continues: “This month's ‘crop of new Americans is likely to be as large as last month’s—the stork is as busy in spring and summer as in winter.” NEW YORK, April 6.—An optimis- tic opinion of business conditions, based on the steadily increasing de- mand for motor cars since February 1, is expressed by Alfred Reeves, gen- eral manager of the National Auto- mobile Chamber of Commerce, who s here attending the spring show of the Automobile Club of America. NEW YORK, April 6.—In‘orest pay- ment date on 4%-fourth liferty loan bonds—April 15—will find thousands of holders of those securities unable i to collect the money due them from the government. i to exchange their temvorary bonds | for permanent ones with all of the | semi-annual interest coupons attached. PHILADELPHIA. _April 6.—Eiabo- rate plans are being made by Phila- delphians to honor John Wanamaker this month on the sixtieth anniversary of his career as & merchant. It was April 8, 1861, that two young men, John Wanamaker and Nathan Brown, opened their little clothing store un- der the title'of Hall” at the cor- ner of 6th and Market streets. NEW YORK, April.6.—One of the big carpet auctions of the year, that of the Alexander Smith & Sons’ Car- pet Company, is in progress here, and the earlier sales have shown price de- clines at an average of about 25 per cent. The Smith sale, usually held in May, was advanced this spring in order to accommodate the trade. CHICAGO, April —Reports from various sections of the country show e ginghams a not being largely displayed the Pplanation is given that there are no gin s. The small checks are in great demand this spring, and mer- chants who held off in placing their orders have been caught without the goods. Bome of the shops have broad- ened the scope of their displays to make this a national cotton weel About 100,000 orders are in hand for G NEW YORK, April 6.—Ssales at the l'fl:h TODAY’S BOND PRICES. SHORT-TERM SECURITIES. (Reported by Redmond & Co.) rfolk and Western 4. gen. wortga, Reading generai 4s... St. Louis and Sun Fran. 4s, serias A. St. Louis and San Francisco 6s 1929, St. Louls and Sun Frai K rd Air Line refdg. Seaboard Air Line adj. 3 Southern Pacific 1st Southern Pucif Southern Railwas isco inc. 6. Wilson & Co. ist 6s. Washington Stock Exchange . SALES. “L‘; ital Traction 5s—$500. at 871, Capital Traction. 87%. Norfolk and Washington® 80. ington Steamboat—2 at AFTER CALL. tal Traetion 5s—81,000 000 at 87, $1.000 st 7, Washington Potomac at 87, $1.000 at A at 87 51,000 at 831, third the amount of the frelght Sears, Koebuck & ) charges to the grower of the produce. ] Philadelphia Retail Trade intermaional Mercasile s B Ty kN Reported Amazingly Active | ke 2nd, Sasbuite B ‘BY F. D. McLAIN. 4] 310004 Durant Motors Continental Trusc Company—10 at 104%, 10 at 104%. Bid and Asked Prices BONDS PUBLIC UTILITIES. American Tel. and Telga. 4s..... Americ T n Tel. and Teiga, 4 . and Tel. ctl. tr. Aw. Tel. and Tel, e Anacostia and_Potomac 5 Anacostia and Potomac guas Chesapeake and Potomac Tel Capital Traction K. City and Suburban 5s. Aetrcpoll R. BAVINGS BAN Commerce and Bavi oy Washington Al * Becurity Bavings and Beventh Street Savings. Union_ Savings . United States Washington Mechanics' FIRE INSURANCE. uBRENRLE Arlington Corcoran Firemen' German-Ame: National Usion . TITLE INSURANCI Columbla Title . Real Estate Title. sz, w N B e B3] 02, 5 OIL STOCKS. d. Anglo-American Oll Co. (new).. 16% Atlantic Refining Co. 200 Berne-Scrymser 360 Buckeye Pipe Line Co. = Chesebor Manufacty 3 Gontimereat o) Gorrorine Co. 3 Crescent Pipe Line 20 Cumberland Pipe Lin 185 Fureka Pipe Line. 94 lena-Signal Oil Co. com. 43 Galena-Signal Ofl Co. pfd. clhe o Northern Pipe Ohio 0il Co. 278 Pennsylvania-Mexican ¥ 34 Prairie Ofl and Gas C 450 Prairie Pipe Line Co. 200 Southern Pipe Lis South Penn. Oil C Southwest. Penn. P} 0% 635 417 500 329 CUBAN ASKS U. S. AID. Woon prices reported to The Star over direct New York-Washington wire by Redmond & Co. French Government #a 8 23 3 & ” 1 of G. B. ad Ireland i 4 | American Tobas 2 reland 5igs . of G. B. and Ireland 53s 1929 American Ty 3 K d Ireland Copper 6s_1929. . ricap_ Tel ‘and Tel. coav. 93, | As Armour & Co. 4%s . 93 3 Atchison, Topeka and Santa Fe gen. 48 6% Atlantic Coast lAl.e T 1021, ot v 6’ ral th Feic Bt Lo 1929, Ge... Cudahy okt s lvs. e e ». rich 7s kit . J. Chesapeake and a. . Jecking Vathy W Chicago Nortl 43~ H5 .. R. 3 o7 6 1t i Bly * is . 1922 o i ‘N* I :.rrl" .01? 1923 nclair Con. 7 > General Blectric 100% | Southern Kaitway gty | American Tel. & Tel ol 0Y 100y 100y i 100 23 Bethlehem Steel 7s 1922, o Bethiehem Steel 7s 1928 97y Canadian Pacific 6 1924 o4 -5 Argentine 6s_ 1927 [ Chicago, K. 1. & Pacific 6s 1923 953 97 C.. & 5t Louis 6s 1920.. 881, % Con. G New York 8 1821, 100 * 100y Cuda ing 9% <) . F. " Good: 1935 0 w0y Gulf 0il Corporation 7n %y H. J. Heinz Co. 7s 1930, I » 90 Liggett & Myers Tub. 6x . oWy » Peana. Co. 4pa, June 15, 1921 994 99! Procter & Gamble 78 100" 100: Procte; mble 73 1933 1 R. J. Reynolds Tob. »7 Bears, Koebuck & 99! Aetna Explosives Allled Oil .. Awerican_Candy . Atlantic Petroleum Big Heart Big_Led Boone OIl . Boston and Bost Carib Syodica Carib Trading Car Light and Cities Service (new) Cities Bervice (old) . Cities Service pfd. Cire .. i Cresson Davis-Daly . Dominion Oil EIk Basin oldwsn Pictures Tuffer-Gillesple Granada Oil Hecla Hercule: Indian Packine Tntercontinental Rubber . International Petloleum (new).. Jerome Verde . . Kay Coanty Gas Take o . Tehigh Coal and Tone Star fa Livingston Petroleum . Magma Copper Marncaibo_0il Marland_Refiners . ditions In New England continue i spotty. Here and there slight im- . provement is noted. - 2 e current output of the cotton | Wash. Rw; I 1% goods finishing plants is hardly T ISCELLANEODS, Wt oW wore l.th;g“:'%-rerf cent :r uhnult}'. Riggs Realty 5s (short).. I 13 E vi y far under the cur- - E rent consumption of the country and STOCKS : x M points to an early improvement. in PUBLIC UTILITIES. i 0% a the opinion of some of the leading |American Tel. and Telgn. B B cotton goods manufacturers, = o The Woolen manufacturers have . 218 i taken good orders for fall deliveries, 3 i : but there is renewed weakness in & = o raw wools. =4 Labor Costs the Deterrent. "2 Labor costs continue the principal 4 ;lelerrent to a resumption of activity ™ ‘n_boots and shoes. The public is i indisposed to buy shoes based on 18 ‘resent labor costs. That wages will e 28 aE Prices at poon: Dusseldort Essen de. | Frankfurt ‘Zj, U. S. TO PAY REPAIR BILL. % 37 |#1,600,000 to Be Spent on Former German Liners. Chairman Beneon of the Shipping Board announced last night that ne- gotiations are under way between the board and the United States Mail Steamship Company by which the ex- pense of reconditioning the former German liners George Washington and America at a cost of aboug $1,600,000 will be borne by the gov- ernment. It is expected the ships will be ready for service about July 1. Thirteen former German _vessels were chartered to the United States Mail Company by the board of opera~ tion on former. German trade routes, but the company later complained that they were unable to pay for the Dr. Angulo Wants Government to | reconditioning of the ships &s pro- Supervise New Elections. Establishment by the United States of a provisional government in Cuba o supervise new general eléctions there is the object of a formal ap- peal to the State Department by Dr. Rafael Angula, chairman of the com- mittee of liberals, in the interest of Jose Miguel Gomez, defeated liberal candidate for the presidency of Cuba. The appeal asked that the provision- al government be headed either by & Cuban or an American as governor general. The department also has received a protest from the Veterans’ Assocla- tion of Cuba against the Gomez aj peal. The recent announcement by advisers of Gomez that such an ap- peal was contemplated caused opposi- tion among his old compatriots in Cuba, who promptly notified the State Department of their disapproval. Gen. Gomez had an interview with President Harding at the White House yesterday. At the Cuban le- gation it was stated that the visit Was merely one of courtesy. e NAMED SPECIAL COUNSEL. James A. Fowler of XKnoxville, Tenn, was named today by Attorney General Daugherty as special counsel for the government in the cement cases in New York, in which 114 indictments charging illegal combi- nations have been returned. Mr. Fowler formerly was assistant attorney general under Attorney Gen- eral Wickersham. vided in the contract and asked re- vision of the charter terms. As an al. ternative the company suggested re- turning the ships of the board. Partial revision of the contract is being worked out to hasten puttin; two of the vessels into servioce, the chairman said, but it was the under- standing that a general revision will be left without prejudice for the con- sideration of the new board to be ap- pointed by President Harding. —_— PASSPORTS OF VALUE. Can Be Used to Advantage, Al- though No Longer Required. ‘Though An\eflfl'.n - |Rl :n':‘o longer uired for foreigm travel, State Dr'p‘-‘fi.mtnl offcials declare that the possession of such documents will be found of great advantage in for- eign_countries. “The statutory elimination of pase- port restrictions.” said Undersecretary Fletcher, “will only to & very small Gegree modify the need of securing passports for travel abroad. Whil Americans are not required by the TUnited States to have passports, they. as well as aliens, will find the need of such documents upon u;rflvlllg at foreign ports. country no longer wml‘rn-quln documentation for all e rt from persons leavi the vmfi States. K- control ‘I‘l-- ing aliens is continued 28 before.” A