Evening Star Newspaper, March 30, 1923, Page 28

FINANCIAL. . EASTER SHOPPIN | DELIGHTS DEALERS Trade Best for Years—Onion Sales Slow — Potato Price Drop Feared. L o BY J. C. ROYLE. Spacial Dispateh to The Star. A NEW YORK, March 30.—Not for vears have the retail merchants of the Unlited States had so satisfactory a volume of business as has marked the Easter scason this spring. In most cases the crowds have rivaled the flood of Christmas shoppers which swarmed into the stores last Decem- ber. Reports from main merchandis- ing centers of the country today Indi- cated that the volume of sales sur- passed that of 1922 by from 20 to 40 per cent. No line of goods was entirely neg- leoted, although it was apparent that the demand for men's clothing, and especially top coats, was not of the same proportions as that for women's wear. Price advances, which up to this time have been exceedingly mod- . in comparison to raises in costs labor and materials, have mot served to check buying. New style ideas have proved « major buying attraction, especlally those based on the Egyptian vogues, which have taken the feminine populution by storm. Produce Not So Promising. The Easter seaton, which normally 1s a period of prosperity for certain lines of food products, has not been so advantageous as usual for those commodities. These products at this time of year find their chlef marketr among the forelgn-born citizeus, and producers, having just become aware of this fact, in the last vear or so have flooded many of the centers where forelgners are located with an excess of supplies. Onifons, for cxample, find their briskest demand among the Jewish population at Passover, and this year, with a big crop produced last year, the markets are oversupplied. Sellers are holding back for high prices and buyers, seeing the volume of vege- tables available, are refusing to buy. In this city the onlon center. at pier North river, is blocked with prod- uce from the south, west and Ber- muda Chickens High; Turkeys Low. Poultry also is in extreme demand in centers where foreigners are con- gregated, and chickens in eastern centers have risen to 45 cents u pound. A considerable business in live turkeys also has developed, but these fowls may be had at from 34 to 37 cents, which is from 20 to 40 cents a pound below the prices which obtained during the Christmas holi- days. Restrictions against the entry into many eastern cities of live goats have been removed for Easter weok be- cause of the demand for young kids, regarded ag an especial Easter deli- cacy among those of Italian birth. The shipment of these kids, most of Which come from Georgia. has grown into an extensive industry. Potato.Prices May Drop. Possibilities of a drop in potato prices within the next month, which will reach panic proportions, are fully recognized in provision circles, A week ago potatoes advanced mater- | ially all over the country, but the flood of shipments which followed speedily stified demand and caused a quick Tecession. Today there are nearly 50,000,000 bushels of potatoes still in the hands of growers and dealers from the 1922 crop. These must be sold in the next six weeks or sprouting will make them upavail- &ble. The new crop potatoes already are making their appearance from Florlda and Bermudu and bringing from 10.00a14.00 a barrel. Conditions of Stocks a Factor. The stability of prices even at pres- ent levels for old crop tubers depends entirely on the condition of stocke in the hands of growers. In many instances it is reported the potatoes were simply dumped into pits in the flelds last fall. Few If any of such stocks will be available for market. 1f, however, the major proportion of Potatoes on'farms and in storage are in fair conditions a slump in prices hardly can be avoided. The situa- tion has been helped somewhat, how- ever, by the damage done the new crops by Ireezes in the south and southwest. RECEIVER SPURNS BIDS ON PLANTS Offers Made Standard Parts Com- pany Brander “Too Ridicu- lously Low." CLEVELAND, Ohio, March 30.—All bids on plants 'of the Standard Parts Company, offered by the recelver at auction here vesterday, were refused by Recelver I'rank A. Scott and his attorney as “too ridiculously low to De even considered.” Mr. Scott said he will sell all Standard Parts prop- erties not already disposed of at pri- wvate sale. The high bid on the Eaton Axle Company plant here was $825,000. A. V. Cannon, attorney for the receiver, intimated ‘that a price of $1,300,000 wauld be acceptable. Not u bid was submitted for the Standard Welding Company, located here. ‘The best bid on the Bock Bearing Company of Toledo 100,000. The high bid for the Hess Spring and Axle Company of Cincinnati was $280,000. Tt is gaid to be worth $1.000.000. A Dbid of $40,000 on the company’s spring vlant at Canton, Ohio, was promptly refused. Propertics sold at auction a few days ago to a Michigan buyer for ap- proximately $1,000,000 included the Perfection Spring Plant, Cleveland: the Pontiac, Mich., spring plant, and three spring scrvice stations. MEXICAN DEBT DELAY. Details Over Bond Deposits Tie Up $3,000,000 in Interest. NEW YORK, March 30.—Resumption of service on the Mexican debt, which was expected to begin April 1'by the peyment of approximately $3,000,000 in- terest due on that date, will be delayed because of difficulties in arranging the detalls of the call for deposit of the bonds, it 1s understood. The delay has glven rise to rumors that the Mexican reprementatives are sceking a_modification of the original terms and that they are disappointed that the United Statse is withholding recognition of the Obregon administra- tion, which, it 1s said, they understood would be forthcoming after the debt agreement was signed, but no official mfln‘n&flcn of these reports is obtain- 6. ——e LEAF TOBACCO. BALTIMORE, March 30.—Maryland Teceipts were again slightly larger, total n, 176 hogsheads, and besides ‘which forty-nine hogsheads were re- inspected. 5 Sales totaled 188 hogsheads, and the demand continued active for all grades packed in good keeping order. Maryland prices per hundred pounds w-Inferior and frosted, 3.00a4.00; sound, common, 4.00a8.00; good com. mon, 9.00217.00; medium, 18.00227.0 od to fine red, 28.00250.00; fanc: 2.00263.00; seconds, common_ to me Alum, 4.00210.00; seconds, good to fine, 11.00a25.00; bay tobacco, fire-cured, 18.00a55.00; upper country, air-cure nomin. groundleaves, new, 2.00a 0.00. 2B _Unsound and badly mixed packages from 1 to 3 cents lower. Stock in warehouses: ~Maryland, L461; Ohlo, 433; total, 1,89 ‘Groundleaves to.date, 313 hogsheads., FIVE MORE MILLS INCREASE WAGES 12,000 Opera Probably Cent Advance. tives in Passaic Will Get 12 1-2 Per By the Assoclated Press. PASSAIC, N. J. March 30.—Five woolen manufacturing firms, members of the Passaic Industrial Councll, posted notices in their mills today of a wage Increase, effective April 30. The amount of the Increase wus not made known, but it was understood it would compare favorably with the recent increase of Y2 per cent grant- ed by the New Lngland woolen manu- facturers. Approximately 12,000 oper- atives will be affected 'ay Raised in Nineteen Mills. NEW_ YORK, March 30.—Directors of the B. B. and R. Knit Mills, oper- ating nineteen plants in Rhode Tsland, today declared & 12% per cent wage Increase, affecting 15,000 employes. ADOPT NEW PLAN IN SELLING GRAIN Two Big Associations Unite in Marketing Efforts to End Competition. By the Associated Press KANSAS CITY, Mo, March 30.—An agreement to co-ordinate thelir efforts in the marketing of grain has been; reached by the United States Grain Growers, Inc, and the American Wheat Growers Associated, Inc., New- American Farm Bureau Federation, announced here today. The agree- ment reached last night after a con- ference of officers of the two bodles must be approved by each of the or- ganizations, Mr. Jenkins said. According to the agreement, the American Wheat Growers' Association will restrict their grain dealings to wheat. The United States Grain Growers, Inc, will deal in wheat in Ohio, Tilinols, Indiana, lowa aud per- i haps Minnesota, and in coarse grains | in_all states. Tihe agreement was described as | being an effort to eliminate competi- tion between the two groups, and not s an attempt to combine the organ- 1zations. HIGHER GRAIN CHARGE CAUSES INJUNCTION Baltimore Chamber of Commerce Prevented From Putting New Order Into Effect. By the Associated Press. BALTIMORE, March 30.—An injunc- tion was granted today, enjoining the Baltimore Chamber of Commerce from putting into effect what, it is alleged, will be an increase of three-fourths of a cent a bushel in the charge for han- dling grain for foreign shipments. The order was granted by Judge Duke Bond in clrcult court upon the com- plaint of Dennis & Dennis, Inc. and {William E. Harris & Sons, grain bro- {kers, and the filing of a bond for $1,000. Increase in the grain charge was or- dered yesterday at a meeting of the chamber of commerce. The effect of the increased charge, it was alleged, will be to divert grain shipments from this port. MEXICO’S OIL OUTPUT SHOWS SLIGHT SLUMP By the Assoclated Press. MEXICO CITY, March 30.—Mexico's {otl production decreased siightly in { December, as compared with = the previous months, a@eording to an of- ficlal announcement by the depart- ment of industry, commerce and lzbor. The total production was 12,202,241 barrels, with the Panuco flelds producing 41 per cent of the total. The fifty-eight companics operat- ing during the month brought in thirty-seven wells, of which nineteen were productive. Ninc wells dried up and two became salted. The total exports were 11,356,520 barrels. i MILL OWNERS WEAKEN. Ready to Discuss Wage With Fall River Textile Workers. FALL RIVER, Mass., March 30.— { With cotton manufacturers elsewhere falling Into the line of wage advances et by woolen mills, the Fall River Cotton Manufacturers' Assoclation i{has arranged a conference with the textile council on the wage question for next Monday. This action was ac- cepted in the city generally as an in- {dicatlon of partial retreat by the mill {owners from the position that they would shut down their plants rather than grant an increase. RADIO HAS GOOD YEAR. Corporation Reports Profit $2,974,579 in 1922. NEW YORK, March 30.—The Radio Corporaiton of America. earned a net profit of $2.974,579 in 1922, according o the annual report made public here The funds were applied to the amorti- | zation of patents, federal income taxes {and organized cxpenses. Although there were no_dividends on cither the com. {mon_ or preferred stock of the company for 1922, the directors reported that cur. Tent assels increased $5,175.984 during the year, exceeding the ‘current liabili: ties by $5,997,966. The equity in the I:.nueulofkm'e corporation of the com- on stock of no par value was 5 matoly $2.38 & share, Aopseal _ The corporation handled from 20 to 130 per cent of the wansatlantic busi mess in competition with the cable com- panies and from 40 to 50 per cent of the transpacific business in 1922, the report stated. : he expansion of the corporation’ business tn - Sweden, Poland, South America and China and the far east now being carried on would make the United States the center of & world wide wireless system, the report stated, — FUR PRICES HIGHER. Wolf and Muskrat Skins Sell at 20 Per Cent Advance. MONTREAL, March 30.—Officlal re- Ports of March fur sales today show that wolf and muskrat skins advanced 20 per cent over February prices. Beaver, raccoon and Australian opos- sum advanced 10 per cent. Kolinsky declined 20 per cent. Ermine, cross fox and silver fox prices were 10 per cent lower, the top price on silver fox being $260. ' The large sizes in fisher declined 15 per cent, with other grades un- changed. STOVE PLANT DESTROYED. AKRON, Ohio, March 30.—A fire of undetermined origin caused total de- stryction of the new foundry of the Taplin-Rioce-Clerkin Company, manu- facturers of stoves and furnaces at Betts Corners, in North Akron, last night. The loss is estimated at sev- eral hundred thousand dollars. BUTTER PRICES HIGHER. CHICAGO, March 30. — Butter— Higher; creamery extras, 49%; stand- ards, 48%; extra firsts, 48%ad9; firsts. 4734a48; seconds, 46} 3;;'1:-.., ggs—Higher: receipts, 14, H firsts, 24; ordinary firsts, 23a23%; miscéllanéous, 22%a23%. i of ton Jenkins, general counsel for the | THE EVENING STAR, WAS IREDISCOUNT RATE LEFT UNGHANGED - Reserve Bank Governors Plan No Early Advance—Ar- range Farm Credits. Although conditions bearing on the possible need for increased federal Te- ! serve rediscount rates were generally admitted to have been discussed, the semi-annual conference of the gov- appeared today to have developed no immediate prospect of an incrcase. Beyond a formal statement issued with the concluding session of the conference yesterday, in which mem- bers of the Federal Reserve Board participated, setting forth that credit conditions among other matters con- cerning the reserve bank operations had been discussed, the governo:s themselves declined to disclose the views expressed on present inflation tendencies. Action Possible Later. That attention had been given, how- ever, to the possible need for In- creased rediscount rates should this condition continue was indicated by the board's statement that members had discussed with the governors the conditions of reserves, open market wates for various classes of paper and credit demands at the present time. Reserve board spokesmen pointed out in this connection that as yet the tremendous increase in loans of mem- iber banks had not been reflected in rediscounts of the reserve banks. Un- til these reach a point where the *banks must resort to rediscount privi- leges, it was said, it was not antici- pated that applications would be made by the reserve banks for in- creased rates. Gold Exports Likely Soon. Deliberations at the concluding ses- sion also dealt with amendments to the board's regulations now being drafted to carry out provisions of the new farm, credits act, these amend- ments belng Indicated as in general of a perfunctory nature. Discussion of gold movements, present and prospec- tive, was said to have disclosed a be- lief of most of the governors that gold exports will begin inevitably in the not far distant future. AUTOMOBILE PRICE ADVANCE HINTED Makers, However, Deny Such In- tentions—Urge Public to Buy Now. Special Dispatch to The Stur. DETROIT, March 30.—Detroit will be surprised if one or morc automobile companies do not announce price in- creases over Sunday. One or two deal- ers have placed huge signs over their doors urging the public to buy now and save money. The names of two cars are mentioned continually as likely to record Easter advances, but direct in- quiry of these concerns today brought forth emphatic deniais. The president of one concern declared his company was walling for some one else to start the move. It has been noted in fhe past that extreme secrecy about Increases or cuts is maintained until the last minute, and it is unsafe, therefore, to make predic- tions. ~ The number of workers .em- ployed increased 43,318 this week to a total of 331,708, OFFER NEW WAYS TO AID SHIPPING Builders Urge Change in Laws on Relations With Philip- pines. | Extension of laws governing coast- wise shipping to the Philippincs was urged yesterday by a committee from the Councll of American Shipbuilders, In conference with tho Shipping Board, as one method of immediately improving the situation of the na- tional merchant marine. The committee was of the opinion that other modifications of existing statutes would be neceesary to give permanent relief, but suggested that the extension of the costal regula- tions as recommended by the so- called “Marius report, submitted to President Harding by Chairman Las- ker several weels ago, would have a material and immediate effect. Homer L, Ferguson, president of the Newport News Dry Dock and Ship- building Company, headed the com- mittee which met with members of the board in response to an invita- tion for co-operation in formulating a new policy to control operation of the government fleet. Recent contracts ~with American yards have called almost exclusively for special types of ships and gen- erally for those types which could be jused” in coastwise work, the board was Informed. It was estimated that an executive order bringing the Philippine trade within operation of American coastal laws would mean an increase of business which would require twenty-five or thirty ships to handle it. As In the case of the ship owners and operators who met with the board earlier in the week, the builders recommended immediate scrapping of “unadaptable tonnage.’ WILL SPEND $10,000,000 FOR NEW EQUIPMENT NEW YORK, March 30.—It is un- derstood that the Atlantic Coast Line's budget for the current year amounts to approximately $26,000,000, which will be spread over a number of items, including station improve- ments and also betterments to shops and shop equipment. _ Additiona] yards to handlo increased traffic are also said to be on the program, while the work will {nclude new rails, loco- motives and freight oars. For roll- ing stock it is belleved that the expenditures will approximate §10,- 000,000 ——eee TRADE GOOD IN SOUTH. Spring Business Now Reported Heaviest on Record. Special Dispatch to The Star. ST. LOUIS, March 30.—Cities every- where throughout the south and west. reported today their spring trade had been the heaviest ever experienced. Retall drygoods and clothing busi. ness has been heavier than in any season in history, with the public buy- ing quality goods and paying fair prices. The warm weather of- the last week has added the final stimulus to the millinery trade. Ornamental glass workers have de. clined a wage advance of 5 cents an hour above the present scale of 80 to 85 cents and have voted to insist on $1 an hour. BUILDING BOOM HOLDS UP. PITTSBURGH, March 30 (8peci: Building construction continues at a boom gtage with permits in this city averaging $1,000,000 a week. Much of this money will be expended. for dwellings. Home seekers fer to build rather than buy old structures in spite-of increased building ocosts. ernors of the twelve reserve banks| | i GROCERY BUSINESS OUTLOOK BRIGHT ibution Better Organized and Less Government Interfer- ence Noted. Special Dispateh to The Star. ATLANTA, March 30.—The general outlook for the food business in the United States never was better, de- spite the upward trend of prices, ac- cording to a statement today by Ed- gar Wakins, general counsel of the American Wholesale Grocers’ Asso- clation. “Two of its more perplexing prob- lems are nearer solution than they have been in a decade,” he said. “Le- gltimate agencles of distribution are better orgs more harmoniously than they have in years. sound agencles are belng gradually eliminated from the fleld and the prospect for economic distribution is very bright. “The second great obstacle, that of government interference, {3 gradually becoming less menacing. NEW ORLEANS GAINS IN TOTAL IMPORTS Advance of $19,000,000 Over 1921 Figures—Coffee and Sugar Lead List. By the Assoclated Pres NEW ORLEANS, March 30.—Im- ports at New Orleans In 1922 were valued at $129.040,449, a gain of $19,- 000,000 over 1921, according to fig- ures made public here by customs officlals. Coffee valued at $44.983,554 led the list, exceeding the 1921 value by $1. 000,000. Coffee imports totaled 36 838,506 pounds, & gaiu over the pre- ceding year of 82,000,000 pounds. Sugar was second with 660.196 tons, against 286.642 tons in 1921, and a Yalue of $33,080,302 compared with $30,167,433. WOOL MARKET BROADENS. Mill Business Also Brisk, Bulletin Reports. BOSTON, Muss., March 30.—The commercial Bulletin will say tomor- row: “There is a broader market for wool both in the seaboard markets and in the west and while there is a more or less keen desire to purchase the domes- tic clip, there is also the restraining in- fluence of the foreign markets where wool can still be bought relatively cheaper than the domestic, {n many in- stances, 80 that growers may easily put their prices to a prohibitive basis, de- spite the acknowledged scarcity of wool in the east. Nevertheless, the market is sound and the tone is a strong one, with more general buying and prices showing a slight tendency upward in the west. “The mill situation has achieved a greater decree of stability as a result of most of the larger mills granting the wage Increase inaugurated by the American ol Company. New busi- ness on goods, yarns and tops is not espectally brisk but the market is very firm and the tendency is upward.” ALEXANDRIA. ALEXANDRIA, Va, March 30.—A band of 125 gypsies, Including men, women and children, who have been spending the winter in Washington, and who for the past three days have camped at Johnson's Hill, Arlington county, left this afternoon for Phil delphia, Baltimore and other place: The gypsles have been in this city recently, where some of the women spent considerable time. Many of the gypsles plan to go farming. It required fifteen automobiles to trans- port the colony. In the corporation court today an order was entered by Judge Howard W. Smith, revoking the soft drink licenses of the establishment known as the “Black Caf.” located on the west sfde of Union street between King and Prince strcets, and the Majestic buffet on the north side of King between Alfred and Patrick streets. A special grand jury in the corporation court several weeks ago recommended that the licenses of these places, as soft drink establish- ments, be revoked. Alexandria’s younger population fs Just now busily engaged in prepar- ing to go Easter egg-rolling Monday. If ‘weather conditions are propitious, hundreds of the little ones will jour- ney to the nearby hills and roll their egEs. Alexandria's favorite spot for Easter egg-rolling was Shooters Hill, at the head of King street. The kiddles, however, this year will miss the hill proper, for it has been terraced for the $3,000,000 Masonic memorial temple being erected at the top of the hill by the George Wash- ington Masonic National Memorial Assoclation. Tke little ones, however, it is expected, will journey back of the hill ‘and roll eggs at that point. Many also will go to the White Lot and other places in Washington. The board of directors of the cham- ber of commerce will hold its annual meeting in the rooms of that organi- zation at 3:30 o'clock this afternoon. It is expected that Harry Hammond, first vice president, will be elected president of the chamber. R. E. Knight {s now president. The department of public welfare and sanitation of the city will within the next day or 5o post every public and private alley in the city notify- ing those abutting on these alleys that it is unlawful to deposit any ashes, trash, garbage or waste in these alleys unless they are placed in proper receptacles. This will be in accordance with the general sanita- tion plans for keeping the city clean during the spring and summer months, as outlined by City Manager Wilder M. Rich. Good Friday was observed with ap- propriate services in tho Episcopal and Cathollc Churches here, and large congregations attended. The usual form of services of three hours’ devo- tion from noon until 3 o'clock, during the hours in which Christ remained alive on the cross, were held. Peyton Ballenger, charged With an alleged viclation of the state prohi- bition law, was acquitted by a Jjury in the corporatiron court yesterday afternoon. ~‘The jury had been out only fifteen minutes. R. M. Graham ‘was foreman. PROSPERITY ON FARMS. CHICAGO, March 30.—The forward march of business in the agricultural states during the past year was sum- marized in a_ supplementary state- ment by the Chicago Federal Reserve Bank. Savings deposits in 209 re- porting banks in the seventh federal Teserve district on March 1, amounted to $827,258,942, an increase of 1.1 per cent over February 1, and of 9.1 per cent over Maroh 1, 1922, it was an- nounced. RECEIVERS NAMED. MUSKOGEE, Okla., March 30.—Re- ceivers for the Constantin Refinin, Company of Tulsa one of the larges independent operators in the mid- continental oil fleld, were appointed %y Judge Robert L. Willlams in nited States district court here yes- !erdl{ on petition of the Spitzer, Rorick Trust and Savings Bank o ‘Toledo, Ohio, it became known today. The petition charged the company had defaulted in payments of $1,000,- 000 bond issue. OBSERVE GOOD FRIDA' NEW YORK, March 30.—The stock, curb and cotton exchanges and most other financial and commodity mar- kets in this and other countries were closed today in observance of the Good Friday hollday. . HINGTON, D. nized and arc co-operating | The weaker and basically un- l G Live. Stock WHOLESALE Supplies of fruits and vegetables for the Easter trade are ample to meet demands. Grass, as asparagus is called, 18 being recelved from South Carolina. It is & splendid product, but prices are bigh. The market s overstocked with fceberg lettuce from California and prices are cheap. There is a plentiful supply of oranges and grapefruit on hand at reasonable prices. Prices of eggs underwent no change this morning. The supply is large enough to meet the Easter demands and prices probably will not change until after the close of the week's market. Eggs—Strictly fresh, selected, dled, per dozen, 25a26; average receipts, 24; southern, Live poultry—Roosters, per 1b., 1 turkey, per 1b., 30a49; spring chickens, per Ib.. 60a70; winter chickens, per Ib., :1?‘526 keats, young, each, 60; fowls, per Dressed poultry—Fresh-killed spring chickens, per Ib., 76a80; winter chick- ens, per 1b., 45a50; hens, per 1b., 32a3. roosters, per Ib., 19a20: turkeys, per I 45250; keats, young, each, 70a80. Live stock—Calves, choice, per Ib., 12; medium, per Ib., 10all: thin, per Ib., 8a9. Lambs, cholce, per lb,, 13. Live PIgs, 3.0085.00 each; live hogs, per Ib., 9. Green fruits—Apples, per bbl., 2.00a 50. California oranges, per crate, 5.50 268.00; Florida, 5.00a6.00. Lemons. per box, 4.00a5.00. Grapefruit, 3.50ad. Vegetables—Pofatoes, per bbl, No. 1. 1.60a2.00; per sack, 2.50a2.75; No. 2, 60a 1.00. Sweet potato North Carolina, 1.00a2.00; nearby, 2.00a2.50. Lettuce, per crate, southern,’ 50a2.00; Romaine let- tuce, per crate, 1.50a2.00; Iceburg let- tuce, per crafe, 3.25a3.50. Cabbage, Rorthern, 3.00a4.00 per 100 pounds: near- by cabbage, per bbl., 1.50a2.60: southern, 50a3.00 per basket. Eggplants, per gcrate. 4.00a5.00. Tomatoes, per box, Florida, 2.0044.25. Beans, 3.00a5.00 per basket. Peas, 3.00a6.00 per basket. Pep- pers, per crate, Florida, 3.50a4.50. Kale, Der barrel, 2.00a2.50. Spinach, per bbl., 2.00a2.50. " Celery, per crate, Florida, 250a3.00. Brussels sprouts, 15a25. Squash. 3.00a5.00. Florida lima beans, 6.0026.00 per basket. GRAIN AND PROVISIONS. BALTIMORE, Md., March 30 (Spe- clal).—Potatoes, white, 100 pounds, 75a1.50; 150-pound sacks, 1.00a2.50; sweets, barrel, 1.00al.7: bushel, 50a 65; yams, barrel, 1.25a1 bushel, 50a 65 bean bushel, 2.50a4.50; beets, hundred, 3.00a8.00; brussels sprouts, quart, 25a30; cabbage, hamper, Sa 3.60; carrots, basket, 50a50; califlower, crate, 2.25a2.50; celery, crate, 2.00a cucumbers, crate. 5.00a8.00; egg- plants, crate, 4.0026.00; horseradish, bushel, 3.00a4.00; kale and bgocoli, barrel, 1.75a2.00; lettuce, basket, 50a 1.50; onions, 100 pounds, 1.50a3.7 oysterplants, hundred, 10.00a12.00; parsnips, bushel, 1.75a2.00; peas, bushel, 3.50a4.50; peppers, crate, 1.50a 2.50; spinach, barrel, 1.25a2.00; squash, crate, 3.00a4.00; tomatoes, crate, 1.50a 3.50; turnips, basket, 50a60. Apples, packed barrel, bushel, 1.00a1.7 1 1.60a2.00; basket, barrel, '5.00a12.00; 3.00a4.50; oranges, strawberries, quar: Lalf strap, 3.00a4.0 N can- 3.00a6.0 100 pounds, cranberries, grapefruit, box, box, 3.75a4.5 & 30260, tangerines, DAIRY PRODUCTS. BALTIMORE, Md., March 30 (Spe- clal).—Live poultry—Turkeys, pound, 35a42; old toms, 30; poor and crooked breasts, 25; young chickens, 32a40; rough stags and leghorns, 24a28; old hens, 28a29; small and leghorns, 26a 27; old roosters, 17; ducks, 28a3 small and poor, 24a25: pigeons, pair, 35a40: guinea fowl, each, 40a60. Dressed poultry—Turkeys, pound. 35a42; old toms, 20a32; poor and crooked breasts, young chickens, 34a36; old and mixed, 28a30; old roosters, 18: ducks, 30a32; capons, 37a 42; small slips, 30a32. Eggs, loss off—Native and nearby, firsts, dozen, 24; southern, 23; duck eggs, 50. Butter—Creamery, fancy, pound, 51; prints, 51a53; nearby creumery, 46a 48; ladles, 40a42; rolls, 38a40; store- packed. 38; dalry Dprints, 38a40; process butter, 44. No grain quota- tions, chamber ‘of commerce closed to- day, legal holiday. CHICAGO LIVE STOCK MARKET. CHICAGO, March 30 (United States Department of Agriculture Receipts, 36,000 head. fair to 10 higher: bulk good and_choice, 150 to 225 pound averages. 8.3028.45: top, 8.50; bulk, 240 to 235 pound butchers, '$.10 and 8.20; packing sows around, 7.2527.40; desirable pigs, 6.75 a7.75; heavywelght hogs, £.00a8.2 medium, 8.15a8.40; light, S.15a8.5 light light, a345; packing sows, smooth, ~ 7.35a7.65: packing _sows, rough, 7.10a7.40: killing pigs, 6.75a7.75. Cattie—Receipts, 5000 head; Kkill- ing quality rather quict: beef steers and vearlings, steady to 15 higher; good heavies showing more advance n spots; top matured steers, 10.00; best yearlings, 9.50: numerous loads of beef steers, 8.7589.50; several loads mixed steers and heifers, 9.00a9.50; she stock, steady to strong; bulls, weak to 15 lower; other classes gen- erally steady; bulk desirable bologna bulls around '5.25: bulk stockers and feeders, 6.75a8.00; bulk desirable veal calves to packers, 8.0028.50; few upward to 8.00 and better and upward to 10.00 to shippers for strictly choice kind. Sheep—Receipts, 10,000 head: fat lambs, steady to strong: early top, 15,00 to packers: bulk handyweight, 14.85214.95; clipped lambs mostly 11.17212.10; six doubles California new crop lambs averaging about sixty- four pounds, 15.50, with 300 out &t 13.00; sheep scarce, no early sales. L o BANKING MERGER PLANNED. CLECVELAND, Ohio, March 30.— Plans for inerging the Union Mor:! gage Company and the Investors’ Mortgage Company were approved by directors of the companies here and recommended to stockholders for adoption. The consolidated company will have resources of $18,000,000. The plan provides for the Union Mortgage Company taking over the common stock of the Investors', and for an increase in common stock of t%z Unlon from $2,600,000 to $3,300,- 000. COTTON EXCHANGE CLOSED. NEW ORLEANS, March 30.—The cotton exchange here closed today on account of Good Friday. NEW RAILROAD HEAD. 'DALLAS, Texas, March 30.—The headquarters here of the Missoyri, Kan- sas d Texas raillway of Texas and the ssouri, Kansas and Texas rail- way announced the election of C. Schaft as president. BANKS RAISE RATES. CHICAGO, March 30 (Special).— Several Chicago banks have raised their rates on brokerage loans from 5 to 5% per cent to restrict the supply of funds available for etock market operations and enable them to meet heavy com. mercial demands. MUST RETURN NOTES. CLEVELAND, March 30.—Preferred stockholders of the Cleveland Dis- count Company, who exchanged their stock to the company for non-nego- tlable notes, must return the notes and_be restored to their status as stockholders, Common Pleas . Judge Alvin J. Pearson r|‘lled in an orde: to_the discount receivers. . It is understood that 657 such stockholders surrendered stock for which they had paid $800,000 for notes in the same amount. MERGER PLAN DELAYED, NEWARK, N. J., March 30.—Stock- holders of the Bethlehem Steel C8m- pany at an adjourned meeting here yesterday falled to act on the pro- osed purchase by the merged Beth- ehem Steel and the Midvale Steel Corporations of the Cambria Steel Company, which has been reported in_process of negotiation for some time. A stockholder of the Bethle- hem Corporation explained llotte;r(gl:a eeting that a quorum was n - :’nt -:«fm lgtlon would be taken at the annual meeting next Tuesday. l rain, Produce and STUDY PROPOSITION TO RAISE COTTON Spanish Ministers May Offcr Sub- sidy to Growers in Provincel By the Assoclated Press. MADRID, March 30.—The minis- tries of finance, public works and labor are studying a proposition ad- vanced by the Spanish Cotton Grow- ers’ Association for the cultivation of cotton on a large scale in varfousof the Spanish provinces. The associs- tion suggests that the government grant a subsidy of 25 centavos a kilo- gram for cotton grown in Spain until the industry is self-supporting. "Fhe association pians to begin with an annual production of 10,000 bales, gradually increasing the plantings until the whole of the national re- quirements, amounting to 400,000 bales yearly, can be grown on Span- ish sofl. The ministers are reported to be favorable to the plan, but par- liament will probably be asked to discuss the matter before a decision is taken. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY AKRON, Ohfo, March 30.—A record demand for automobile tires is caus- ing rubber plants here to operate to- day at a rate exceeding all other peak years. Firestone and Goodyear com- panies are each producing more than 30,000 tires daily and Goodrich is ex- ceeding the 20,000 mark. Other com- panies are relatively busy. DETROIT, March 30.—The head- quarters of the Corduroy Tire Com- pany of Grand Rapids, which makes 1000 casings and 2,500 tubes a day, have been moved to this City. LYNN, Mass, March 30.—Prominent shoe manufacturers here are talking very hopefully about the future to- day. Although Easter orders have all been completed, many factories are booked well ahead, and active trade is expected throughout the year in the New England plants. DETROIT, March 30.—Easter sales of women's clothes are running from 25 to 40 per cent above those of last season. The Lgyptian styles have taken the women by storm, dealers said today. This is the eleventh con- secutive month that retail dry goods sales have exceeded those of the cor- responding month of 4 year ago. BOSTON, March 0.—The American Woolen mills, in New England, are operating at pacity today and the Pacific mills are turning out the greatest yardage in their history. Some departments of the Arlington mills are working a night shift. FORT WORTH, March 30.—It is ex- pected that the oll well completions this week in the north central Texas flelds will set a record for the year If progress is made as expected. ATLANTA, March 30.—Recent new home eonstruction has produced a tre- mendous demand today for furniture, art objects, rugs and draperjes. CHICAGO, March 30.—Silk under- wear manufacturers here reported to- day that there was an unusual de- mand for crepe de chine, georgette and chiffon garments, with the trend away from white MINNEAPOLIS, March 30.—Discour- aged over their losses on the 1922 po- tato crop, Minnesota farmers are turning to flax today as a more prof- itable product A new method of mixing wheat or oats with flax on new land will be tried out. NEW ORLEANS, March 30—Early cotton is being_jeopardized today by the prospect of floods. The Missis- sippi is now a foot and a half above flood stage in the upper cotton dis- tricts. CONNELLSVILLE, Pa., March 30.— Sales of furnace coke at $7.50 for the second quarter were reported today. Export demand is making an impres- sion on the market, and between 00 and 100.000 tons have been shipped for this purpose. Coal In larger quantities has been bought for export. BOSTON, March 50.—The coal mar- ket is easter here. New river and Pocahontas coal has sold on cars Bos- ton at $9 for Boston and Maine ship- ment and at $5.75 for Boston and Al- bany shipment. , DIVIDENDS. Pe- Stock of Record. Apr. 14 May 3 May 3 May 8 B June 15 Apr. 16 Mch, 20 Meh. 29 Apr. 7 Meh. 27 Mch. 31 Apr. 30 Apr. 20 Apr. 14 Mch! 31 Many Churches on Island. Vrom Wide World. One of the most remarkable islands in_tho world is Patmos, where St. John wrote the Rook of Revelation. It was always the destination of thousands of pilgrims, and {n the old days the rich man who wished to ex- plate his sins usually did so by build- ing a church. The result is that this tiny island contains the ruins of no fewer than 300 churches. The entire population numbers about 4,000, and it is considerably larger now than it was when most of the buildings were founded. As there are .only 700 houses an the island there is almost a church for each two tamilfes. The people are Greeks, whose only occupation is sponge fishing, though there used at one time to be a trade in the manufacture of stockings. Curiously enough, though the island lles quite clos to Turkey, thers has never at any time been a mosque upon it. Possibly the Mohammedans could ®ot flad room for one. Pay- 1st . Ass'd D. G. 24 p; Roud-Mort. Guar. Consumers Power S June Gotham Nat. Bank Gotham Safe Dep. D., L &W. R. R. M. Lowenstein' & Bons 1st pf.... N. Fiction Pub pf. N, 3. zine Oo.... Phillips-Jones i U. 8. Glass Co.. ; No Home Dinner. From the New Haven Register. * #ald a young husband on his return from the office,” “I've had a terribly hard day, and now I'm as hun- 8ry as a bear. I do hope we're having a good dinner."” “No,” the young woman answered, “I'm afraid we'll have to dine at a cafeteria tonight. I've broken the can opener.” Sea Horses Come Back. From New York World. The sea horses have come back to the Aquarium in Battery Park, New York, after an absence of four years. Four years ago the Hudson and the estuaries along the Jersey and Long Island shores wero full of them, so the officials say, and fishermen along the coast were posted to bring them dn. Then the sea horses disappeared. The aquarium’s stock gradually died its nat- ural death. The fishermen reported no more to be found. The dearth (s charged to a freeze-out. 328000 | LIFE INSURANCE $26 a Month, Age 30 Easy Monthly Payment Security, £ TERoy Gocr n‘v_ud Bullding FINANCIAL, TREASURY FUNDS | INANPLESIPPLY Banks Hold $505,000,000 Proceeds of Certificate Sale. Partial Holiday Today. BY L A. FLEMING. The United States Treasury is 8o well supplied with funds that the entire proceeds of the most recent sale of cer- tificates, amounting to $475,000,000, are permitted to remain with banks of de- posit in the war loan fund. Not only is this large amount of money still on deposit, but $30,000,000 from the previous flotation is still held to the order of the Secretary of, the Treasury. At the close of business March 26 the Treasury reported a surplus from the fiscal operations of the day of $8,551.347, and for the month of March | & surplus of $316,129,263. Stock Exchanges Closed, Al stock and grain exchanges were closed tod: Banks were open as usual, with business rather lighter than usual New Controller of Currency. It iz stated, in a manner that leaves no room for questioning the authenticity of the report, that H. M. Dawes, brother of Gen. Charles G. Dawes, and & mem- ber of the executive committee of the Central Trust Company of Chicago, has been selected as the successor to D, R. Crissinger, in the office of controller of the_currency. Gen. Dawes himself filled the position during the McKinley administration. Local bankers are speculating on whether the views of the present con- troller will be upheld by the future oc- cupant of the office with regard to giv- ing charters to banks for which a pro- moter has received a fee and on the matter of branch banking, although the latter subject is expected to be dormant for some time now. Armour-Morris Merger Closed. Acquisition of Morris & Co. by Armour & Co. is an accomplished fact. It was taken over by the North American Provision, a subsidiary of Armour & Co., at a cost of $27,450,000. Payment of the purchase price will be and has been made as follows: Cash, $2,750,000; preferred stock of Armour & Co. of Delaware, $5,000,000, preferred stock of Armour & Co. of Illinofs, $£9.000.000, and class A com- mon stock of Armour & Co. of Illinols, $10,000,000. Capitalizati Delaware will be $10,000,000 preferred stock and $30,000,000 common stock. except $8.600,000 of the preferred. which will be used to acquire about $8,800,000 of the preferred of Armour & Co.. needed in the Morris purchase. To furnish additional working capital and to facilitate the trapsac- tion, £10,000,000 5% per cent Dela- ware Company per cent interest will be through the Morris interests. Armour owns and distributes to 322 branch houses; Morris owns seven packing plants and 164 Wranch houses. J. Ogden Armour declares that the great reduction in overhead, and es- pecially in executive management, and the meshing of the plants will mean an enormous saving for the consolidated companies.* The finance committee of Armour & Co. will consist of Samuel Mc- Roberts, A. H. Wiggen, Arthur Reynolds, F. Edson White and P. D. Armour—three constituting a voting trust and controlling stock owned by the Armour family until plans mature for the sale of this stock. Old P. D. Armour, the founder of the house, worked from early in the morning unul late at night, and his hours would have been much longer if he had had as many milllons to care for as this voting trust has. Tax on Moneyed Capital. . The_ Walker bill. now before the New York statc legislature, proposes a tax of I per cent on moneyed capital which is in competition with banking capital, in order to impose a similar tax on banking capital. A 1 per cent tax on the val of banking shares produces 37,000,000 annually. The court of appeals invalldated the bank tax because it was dis- griminatory. The government permits axation by states only o . of equality. FEene R —_— STATEMENT OF THE CONDITION o Of the placed OF COLUMBIA, On,the 3ist dav of December, g2z, under the District of Ce ynder the District of Columbla Cod 18 requires e 4 and August 18, 1911. odse ASSE’ Cash in office . o % Cash in back < Real catate inorizges Interest due and acerued LIABILITIES Reserve as required by law. Saviogs and earnings appor: Character of business trasact baracier of sacted durlog the Amount of risk assumed during the year 1922 ox sus Money received d Expeaded during the year 1033 1d6a 7 N EONARD, President. HORACE L BEALL, Secretary, © o 0e® Subscribed and eworn to before me this 28th day of February, 1923 N A WERTZ. Notary Pubife. STATEMENT OF THB CONDITION the COLUMBIA INSURANGE COMP. JERSEY GITY, NEW Op the 3lst duy of December, 1922, under_the District of Columbla cod June 30, 1902, and August 18, 1911 Capital ‘stock. Capital stock, paid up, in ca ASSETS. Cash in bank. Stocks and bonds (market value Premiums uncollected and in ha of agents. Interest due All other Philadelphia Fire Underwriters® Association, depost. Relosurance due on losses paid. te— Totals assets. LIABILITIES. Net uspaid claims. Reserve as required by Balaries, rents, expenses, $119,521.00 30.817.28 80,500.00 2,600.00 400,000.00 8 $1,292.338.26 ter of business transacted durlng the 22, Fire, Marioe, Tornado, Sprinkler Leakage, Riot; Civil Commotion and Explosion and Automoblle. Amount of risk assumed duriag the year 1922 . .$315,295,568.00 lnllsg sustaived during the year Money received’ during the year . the year 192 1152.919.33 1922 - Expended durin - HERBERT. W, ELLIE, Vice President. FHOWARD TERHUNE, Secretary. Bubscribed and eworn to before me this 28th day of March. 1923 CHAS. H. SCHMIDLING, Notary Public. (Notary Public, Kings county (48) Regisier 4054, “Certificate filed in New York county (72). Register 4246, Commission expires MAERADLEY. BEALL & HOWARD, Ine = ' AGENTS, 5 WILKINS BLDG. Money to Loan Secured by frst deed of trust on real estate. Prevailing interest axd comm| lesion. Joseph I. Weller {3,755 5 % 5% o] LOANS u!lllm ‘l“nfo uoi? on D. :- fl.'lll" wstate and household goods el 7" por oot "“1’.':'.,4'2'.'@ ‘brokier- . s ox. Bod of ‘making small Commissions, brokersge, etc. Capital etock....... Total lablisties. eal.) our method of Dommocatal Fous & Tiomass o oy KA System Copyrighted & Patent Pesding. of Armour & Co. of | bonds bearing 5% | ! i LOANS \] . If you have money to invest, wec can safely Bhu it on gilt-edge first . C. Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts, EQUITABLE Co-Operative Building Association Orxanized 187D 434 YEAR COMPLETED Assets - 84,657 950.568 rplus 1,180,880.01 Systematic Saving The man with a bank account 18 always popular. Increasc your popularitv by saving eyvs- tematically and conslstently. Subscriptions for the 84th Issue of Stock Belng Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Prestdent FRANK P. REESIDE, Secy. ivermore & Co. Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel Main 2790 ° Col. 2000 MoneytoLean First @ Secend | - Mortgages 1334 -H-ST.NW/ To the Owners ment Houses— Do you know what return your property is yielding f not, our apartment analy sis would be of service to you. RENTS B. F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 of Apart- “When Investing” Consider First Safety. Second, the rate of return your ‘earnings will vield You will find First Mortzage Notes always foremost in recommended rafety. Send for full Information concerning our 1% . First Mortgage Investments in Amounts of $250 Up to $5,000 Guaranteed Title furnished to all investors, with collection remitted the day due. -Chas. D. Sager 924 14th Y.oan Dept ¢ AL 36 INVESTIGATE" TOMORROW Is the last day to invest $250 in the DISTRICT GUARANTY CORPORATION Upon the present basis to yield 11.2%, payable in quarterly dividends. It is one of the safest, cleanest and best investments on the market today. Make your reservation early in the morning. FISCAL AGENT | £28-155¢.05