Evening Star Newspaper, January 27, 1922, Page 26

| TRIDAY, JANUARY 21, 192 ' - - : MUCH TRADING IN DETROIT. - Washington Stook Exchange. [ NOURISHED BY LOW PRICES g e | IRCASURY NOTES INGOOD DENAND 7 proving. Spain is in the market for remounts for its troops in Morocco. Mules have advanced $10 a head in price and horses are bringing cor- relpon’rlln‘ly high prices. frosted, 3.00a5.00; sound, common, 6.00 210.00; good, common, 11.00a17.00; me- dium, 18.00a30.00; good to fine red, 31.00a45.00; fancy, 47.00a48.00; sec- onds, common to medium, 5.00a17.0 seconds, good to fine, 18.00a30.00; -bay tobacco, fire-cured, 15.00455.00; upper country, air-cured, nominal; ground leaves, new, 2.00a3.00. Stock in warehouses—Maryland, 1 107; Ohio, 3,906; tetal, 20,013. Canned goods dealers are looking for a big ”rln& trade, After the holiday 1lull in this -business it. de- veloped more than « TI outstanding feature is tomatqges. ordinary consumption of tomatoes is about 1,000,000 cans per month in the United States. The total pack. last season was 4,017,000 cans. Prices have increased. Corn is cheapér than it has been for years. LEAF TOBACCO MARKET. ~ BALTIMORE, January 27.—With re- ceipts of ninety-four hogsheads and sales of seventy-one hogsheads, the market ruled very qulet, even for this oft season of the year. As soon as we have some warm. rainy weather larg- er receipts and a more active market may be looked for. Prices per 100 pounds—Inferior and Chesay ginia 5e—$1.000 at 91. ulanston Monotype—30 at 71, 2 at 71, 10 at AFTER CALL. - Light—1 at 4915, ° 56—$1,000 at 90, $1,000 at Washi —25 ot asbiagton Ballway and, Electrie pfd Money—Call loans, 5a6 per cent. Washington Washington e ecretary-tre: urer of the Hardware Merchants and Manufacturers’ Association, in a statement today declared that, while hardware men were not looking for Hmmediate Response Is Secen When Price \| W % %, v L FORD 'REDUCED . WAS $625 F.0.B. FACTORY oW 5395 Authi;rized Washington Ford Deale):s ! F.0.B. FACTORY R. L. TAYLOR COMPANY, 1840 14th St. N.W. UNIVERSAL AUTO COMPANY (Ine.), 1520-31 M St. N.W. DONOHOE MOTOR COMPANY, 215 Pennsylvania Ave. S.E. TRIANGLE MOTOR CO., STROBEL MOTOR COMPANY, N. Y. Ave. at N. Capitol St. 1425 Irving St. N.W. STEUART'S GARAGE, 141-151 Twelfth St. N.E. HILL & TIBBITTS, 14th St. & Ohio Ave. N.W, PARKWAY MOTOR COMPANY, 1065-1067 Wisconsin Ave. ROBEY,MOTOR COMPANY, 1429 L St. N.W. These Denlers Can Sell Ford Cars, Tractors, Etc., Anywhere in the United States. * Immediate Delivery on All Models . A record - breaking o price for butter of such recognized quality and % 13 ri Bt {t; Anfilue idge Butter is DE FRESH DAILY. Until now, its price has been 45 "{ winter weather necessities. Merchants are BY PHIL 8, HANNA. Special Dispatch to The Star. DETROIT, January = 27.—Detroit business in‘many lines is being nour- ished by low prices, Where price cuts appear, there is an immediate re- spopse. Big department. store man agers declare that the January busi ness so far has been better than at any similar perlod since 1918. The price attraction has been clearly shown at the Detroit automobile show, which has attracted more buy- ers than in any previous year. In fact some resistance to quick sales Is hoted, due to uncertainy as to prices. 3 _ Thréats of a coal strike have caused some householders.-to lay In a reserve supply for next fall and public ytility companies are building up their re- serve stocks of soft coal, but there has been no general rush to buy. Cold weather has been a boon to store- keepers, wh oare clearing up winter stocks in a satisfactory manner, but has served as a check to building operations. Permits issued for the laster have dropped from $946,000 last week to $530,000 this week. * Cold Spell Is Stimulating Clothing Sales in Atlanta BY RALPH SMITH. Special Dispatch to The Star. ATLANTA, January 27.—Nearly a million dollars’ worth of new build- ing has been begun here since the first of the year, and indications lead to the belief that this figure will be materially increased by the end of the month. Slx new apartment houses are under construction and over a hundred private homes have been started. The boom in building has served to decrease unemployment in this section. The first prolonged spell of cold weather has stimulated buying of clothing and_ other cold- rapidly clearing out their stocks of heavy clothing in both men's and women’s lines, which for a time seemed destined to be sold at a great sacrifice. Final steps toward launchin the Georgian farm market feder: an organization designed to enc age and finance co-operative market- ing of food crops, is awaiting advices from the Secretary of Agriculture, who has been asked to indicate such helpful suggestions in the plans of the organization as may seém neces- sary to him. ot Employ Low-Priced Goods to Sell Many Lines in Stocks BY J. N, FINING, _ Special Dispatch to The Star. ST. LOUIS, January 27.—Merchants here are not only employing extreme- ly low-priced goods as trade stim: lators, but are disposing of all stocks, shoes and hardware. element is also being made a stimu- Cuts Appear—Cold Weather Is Boon to Shopkeepers. lots. At the same time, the merchants of the south and southwest are searching the manufacturing _and Jjobbing markets for staple goods at the most advantageous terms. Mer- chants, especially those of the south- west, are visiting this market in in- creasing_ numbers and are looking, not for business accelerators, but for ‘except staple goods, by offering odd staple goods for spring and early summer requirements. The present retail selling policy in this section is a most aggressive one, with rare bargains being extensively advertised. This trend is,especially noticeable in dry goods, clothing, The credit lating factor, particulary in high- priced - jewelry lines. ~Wholesalers report a persistent and immediate de- mand for all goods which will serve to vitalize trade. St. Louis is one of the most active markets for animal feed g-oducts and dealers have received orders this week from all the live stock territory. which have brought them encourag: ing signs of a prosperous year. Ship- ments of forage products to the southeast have been heavy this week. Commodity Reports . From Various Sections Hides and Leather. CHICAGO, January 27 (Special).— Hides and leather show little change, aithough the tendency of this market is upward and there are more in- quiries for packer hides. Calf, kip and sheep skins are moveing rapidly. SEATTLE, January 27 Special).— The hide market is active, and dealers are encouraged by the demand from Chicago and Boston. There is also some movement to Europe. Country heavies are netting local producers $6.30 per 100 pounds, and packers are seiling at.7 to 8 cents a pound, as compared with 3 to 4 cents last fail.v Eggs. NEW YORK, January 27 (Special) Cold weather has resulted in an ad vance of about 3 cents a dozen in the price of eggs, and butter has risen 1 cent a pound. - Machinery. CLEVELAND, January 27 (Special). —President Ferguson of the Grant Lees Gear Company, makers of auto- mobile transmissions, reported today that sufficient orders had been re- celved to run the plant at present capacity throughout the year. Em- ployes will be increased from 100 to 600 and a night shift will be put on. Fruit. WOODBURY, J., January 27 (Spe- cial).—Fruit growers in this section are rejolcing over the recent cold snap, which they declare was needed to assure fruit ylelds for this year, as the sap was running in some trees, and the sleet which hung on the trees has killed scale and borers. Horses and Maules. MEXICO, Mo., January 27 (Special). —Trade In horses and mules is im- a boom, flourishing season. Paint, CLEVELAND, January 27 (Special). —Officials of Benjamin Moore & Co. paint manufacturers, report a de. cided increase in retail trade this month. The, Glidden Company an nounced it expects*to increase it sales $3,000,000 this year through de- mand for ripolin, a Dutch product. Steel. CHICAGO, January 27 (Special).— Bids for part of the 20,000 tons of structural steel for the new Chicago Union station will' be opened next week. Prices for steel products of all sorts in this market are firm. NEW YORK, January 27 (Special).— The American Car and Foundry Com- pany will begin work in the near fu- ture on an order for 500 box cars and 500 steél hopper cars for the Delaware, Lackawanna and Western. Foodstuffs., TOPEKA, Kan., January 27 (Spe- cial).—Bread and milk prices have fallen sharply here. Milk is now selling at 9 cents a quart and bread a8 been reduced from 10 toffp cents for a pound loaf. Rubber. NEW YORK, January 27 (Special). —Crude rubber has dropped about § cents a pound, to 16% cents. Forced selling in London is assigned as the cause of the decline, and holders of rubber here are waiting confidently for higher prices. Notes. CLEVELAND, January 27 (Special). —Although grain shipments on the great lakes in 1921 totaled 468,391,375 bushels, by far the largest amount ever handled’ in one Season, the com- pleto traffic tonnage figures on these waters shows one of the greatest slumps ever experienced since the organization of the Lake Carriers’ Association.” Bulk freight handled to- taled 68,033,575 tons, a decrease of nearly forty million tons from the aver- age of the previous six years. The de- crease in iron and steel shipments is declared responsible for 61.82 per cent of the decline in total tonnage. NEW YORK, January 27 (Special). —The Luckenbach Steamship Company has added the steamer Jacob Lucken- bach to its intercoastal service between New Orleans, Mobilé and Pacific cogst ports. The Canadian Pacific Steamship Company has added approximately 150,000 tons each to its Atlantic and Pacific fleets. The Montclair, Montrose and Montcalm will go on the Atlantic [run, and the Empress of Canada, Em- press of Australia and Empress of In- dia on"the Pacific. BANK MERGER APPROVED. NEW YORK, ' January 27.—Direc- tors of the Seaboard National Bank and the Mercantile Trust Company have approved plans for consolidat- ing the two institutions. Directors of the new bank also were selected, the Seaboard naming eleven and the Mercantile Trust twenty-three. Sam- uel G. Bayne was named as chairman of the board and Chellis A. Austin as president. indications pointed to a BONDS. Bid and Asked Prices. PUBLIC UTILITY. - American Tel. and Telga. 45 Amerighn Tel. and TH[“& 4148, . tr, Am. Tel. and Tel. et Am. Tel. and Tel. conv. @s. ‘Aoacostia and Pot d Capital Tra Clty and 8 Georgetown Gas 1st Metropolitan R. R. O Po'omac Electric Ligl Potomac Electric Cons. Gs m. ref. r & t. Ver. G Washington Rwy. aud Biec. ® Wash. Rwy. and Elec. g. m. 6s. 964 MISCELLANEOUS. Riggs Realty s (long). 90 Rigge Realty 58 (short) Washington Market Bs, Washington Market Bs, W. M. Cold Btorage 5s STOCKS. PUBLIC_ UTILITIES. 1927 1947, il TRUST COMPA. Amerlcan Security and Trus Continental Trust .. XNational Savings and Trust. Union Trust ..... Washington Loan and Tru SAVINGS BANK. Firemen’ National Union TIT! Columbia Title Real Estate Title . Columbia Graphopone com. Graphophone pfd r Mfg. Ce Merchants® Transfer Mergentialer Linotype 0id Dutch Market co) 0ld Dutch Market pfd. Lanston 3onotype - curity Storage Vashiogton Market . eEs-dlridend. Continent Mills, q., $1 Continental Aills, g., D! Bsmond Mills, q., $1.50 Esmond Aiills, BETHLEHEM STEEL FOR 1921 SHOWS A BIG LOSS NEW YORK, January 27.—Gross sales and earnings of the Bethlehem Steel Corpdration for 1921 amounted to $147.- 794,333, against $274, 1920, ac- cording to prelimin: Total l report. 215 | the offering of the $400,000,000 43, Local Bankers Report Sub- scriptions Coming In at Steady Rate. Local bankers reported today that there had been a good response to per cent Treasury notes maturing March 15, 1925. Subscriptions were sald (o be coming in at-a steady rate, and the outlook for a heavy overs subscription is considered good, even making allowances for the inevitabl ®padding” of accounts. The banks are understood to have subscribed heavily to the new short- ierm issues. The rate was regarded 48 making the issue attractive. No <Stimate of the amount of exchanges of victory notes which will be made 18 believed possible. It is pointed out that the holders of the victory notes may subscribe to the Treasury notes with cash, d.‘nd sell the vie- tories later in The open market, since the issue is now above pai Bankers say that there is not mucl advantage to be derived from ex- changing victory 3%s for the Treas- ury notes, since the 3% are tax ex- empt, while the Treasury notes are :xempt only from the normal tax. It is figured that the exemption on the 4% per cent notes makes them ihe equivalent of a 53 per cent rate on taxable material. The new of- fering of Treasury notes figures out 0 the equivalent of a 5% per cent taxable investment, and as such should be attractive. Southern Pays in Full. The War Finance Corporation y terday announced that its outstand. g advance of $2,355,000 to the Southern Railway Company, made on December 30, 1918, under the war powers of the corporation, had been repaid in full. N New Director Elected. At a meeting of the board of di- rectors of the Norfolk and Washing- ton Steamboat Company yesterday Clarence F. Norment, jr., was elected to director to fill the place of the iate Daniel Fraser. District Bankers to Meet. John B. Larner, president of the District of Columbia Bankers’ Asso- ciation, announced yesterday that the next meeting of the organization would be held the night of February 17 in the Cosmos Club. Tentative plans have been made for a social rather than a business meeting. However, current topics coming before the association will be discussed and dealt with accord- nd it is also understood that 4 speaker of prominence will be pro- cured for the occasion. _— TURN AGAIN TO BANKS. Collapse of Shanghai Exchanges Is Regarded Beneficial. “Collective collapse” on or before the Chinese New Year of all that re. mains of the produce and bullion ex- changes in Shanghai, China, which were set up last ycar, with a total invested capital of $100,000,000, was predicted in a special report today to the Departinent of Commerce. The exchanges have been “blowing up in groups and individually, as was pre- dicted,” the dispatch said. “Closing the exchanges is Having healthy effect on the banks, as people to put money, 3 ‘Business contin- with little moving either in O out, as near as can be ascertained.” * WILL EXPEND MILLIONS. cents per pound. For a LIMITED TIME only, you met earnings of "$25,154,618 campared ) YO! with- $36,351,554 in the previous year and { Bethlehem Steel Vi can 332, = o otes Big Outlay get pure, fresh BLUE RIDGE Butter at any Qz;zéf‘fn";“,n‘g i fgfiu‘zf“(_ s Dy AR At e e of fherbyl’is clg:trkets(for 38 cents per pound! Sold in 1-poun ons (cut in 14-pound prints.) G your supply TODAY! N i R While you're buying butter, lay in a supply of our f; ¢ you'll appreciate their quality and 1-.;'553: * oo imeate - Sherby? R MARKETS 1420 7th St. N. W. 948 Louisia: 3425 Georgia Ave. N. W. 3276 M St. N. W. 701 43 St SY‘W Another NEW Market Just Opened at G0l H 'Street N. E. / N HE had been treated by the best phy- sicians in the city, yet for 5 long years she suffered from indigestion. The stomach Thenshetried eating Fleischmann’s Yeast. After 3 weeks she began to gain. When she started eating the yeastshewas decidedly un- derweight. Now her weight is back to nor- mal. Her skin is clear and has the glow of - chm too 3 (Hero of Jutland) B bictom Tt i o e of 6 o s o e b G L0 GovemCenenl of NEW ZEALAND dissolvedin milk, water or fruit have left. : ~ ¥ ¢ R S Fleischmann's Yeast is a fresh food rich in life-giving vitamin. It has a remarkable effect on the whole digestive system,’ increasing appetite and improving digestion. By eating Fleischmann’s Yeast daily you get more nour- fshment from the other foods you eat. Twoto three cakes of Fleischmann's Yeast _ fresh every day beforeor meals will | keep your di in shape. Place a standjng order with your grocer. He will de- - liver Fleischmann’s Yeast fresh daily. “A victim of indigestion N for 5 long years’ ’ J i . a delight to young “and old. _ It “melts in your mouth' and the gum in the center ‘remains to aid digestion, brighten the teeth and soothe the mouth and throat. There are the AR by President E. G. Grace, represented earnings of 7.6 per cent on the common stock, after payment of regular divi dends on both classes of preferred sues, these having been declared for the four quarters of the current vear. Commenting on business conditens, President Grace said the steel plants of the corporations now were_ operati at about 30 per cent of capacity, while the only activities in the shipbuilding plant were limited to completion of a few old contracts and “a moderate amount of repair business. “Just as soon as the country can give cheaper transportation, cheaper fuels and cheaper building operations through the lowering of high labor rates “in these important industries,’ added President Grace, “we should start forward, provided necessary reviaions | are made on the existing tax laws and the American merchant marine is mad { possible for economical and eflicient dis. tribution throughout the world of our farm and manufactured products.” SECURITY ISSUE GRANTED. ! INDIANAPOLIS, January’ 27.—The public service commission last night| authorized the Indian Eleotric Cor- poration, a merger company, compos- j ed.of seven electric utilities of the! state, to Issue $17,496,000 in mecurities to purchase properties included in the merger. The action of the commis- | sion \gonstituted approval of thei merger plan and financial transac- tions outlined by the company inci dent to the merger. The case hadi been hotly contested before the com- | mission. H EXPELLED FROM EXCHANGE. NEW YORK, January 27.:-Frederick T. Chandler, jr., board member of th brokerage firm of Chandler Bros. & Co., now in receivership, today was expelled from the New York Stock Ex- change. The exchange governing commjttee announced that the firm's failure was caused by “reckless and unbusinesslike d » NEW YORK, January standing that the plants of the cor- poration are running at ontwy one- third their uormal capacity. the board of directors of the Bethlehem Steel Corporation voted to appiopriate 000,000 for the comstruction of addi- tional works. This was announced by Charles M. Schwab, chairman of the board, in an address before the Hotel Men's Assd- ciation of New York. This action was taken, he sald, because he haus faith in the people and the government of the country, which he described as “workshop of the world.” The outstanding feature of Mr. Schwab's address was a plea for less interference in business by the gov- ernment. “We must have true economy as a sovernment. We'll never ful business unless the enterprise of business Notwith= on. et railroad men bhave a free hand in the development of transportation, and the first great step toward a suc cessfui rchabilitation of husiness will have taken place.” TENNESSEE RAIL ELECIS. ¢ NASHVILLE, Tenn., January 27.— Only one charge in the tentative list of oficeholders anuounced by . the Tennessee Central railway tras mads here when stockholders held the formal election. G 5 b of ashville was directors. The comple: follows: P. D. Houston, ~;_Robert Orr, George . Morse. H. W. Staniey A. Schwab of Nashviile, K. Boettcher, R. Freeman and G. Morse of Denver. The boerd of directors immediately Boeticher, G. G. Morse Schwab, vice presidents; Walte Stokes, general counsei; F. D. Hou treasurer; W. T. Hale, jr., secre- W. M. Mooney, controiler. other WRIGLEY [ DOUBLEMINT > ¥ l"l:l“lz A4V SN WA\ friends to " JELLICOE "is. a Studebaker Owner