Evening Star Newspaper, January 4, 1924, Page 27

-$10,000,000 POWER | PROJECT IN SOUTH Georgia Also Expeots Most Build- ing Dpring 1924 Since Civil War. ST. LOUIS TRADE SPOTTY / Frisco Ship Yards Active—Better Live Stock Outlook. Special Dispateh to The Star. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SUFFCLK, Va., January 4.—This city strengthened its, claim during 1923 to being the peanut center of America. The volume of peanut busi- ness totaled 12,000,000. This is $8,000,000 more than in the pre-war year of 1913. NEW YORK, January 4.—Four spe- | clal trains, under armed guards car- rving $19.800,000 worth of sijk from the orient, are due to arrive here 10- day. The silk was shipped from Japan to Seattle. JOPLIN, Mo., January 4—The pro- duction of zinc THE EVENING 'STAR, WASHIN ORDERED OFF FLOOR OF CURB EXCHANGE L. R. Moss Charged With Personal Misconduct With Another Member. By the Associated Press. NEW YORK, January 4.—The New York Cotton Exchange today announced the suspension for thirty days of Lester R. Moss for an alleged Infraction of the rul A subsequent official announcement stated that the exchange had merely suspended Moss from the privileges of | 1.C.C. REPORTS RAILROABS EARNED 4.68 PER CENT Figures for November Show Good Business in South—Car Loadings High. Class 1 rallroads, comprising about 90 per cent of the railroad mileage of the country, earned at the rate of 4.68 per cent during November on their tentative valuation fixed by the Inter- state Commerce Commission, accord- ing to caloulations announced by the bureau of railway economics today. This rate, which represents a net operating income of $84,516,000, is a slight increase from the 4.82 per cent rate of earnings for the same month last year, while it shows a slight de- GTON, D. -0, s 1 . ) FRIDAY, JANUARY 4,i 1924 esterdsy: at more than 20 t opened at 20.25 and closed ERIE STAYS UNDER ‘The explanation that the SAME MANAGEMENT | :: e, clise ‘5% sufficlent to the Temps, wmh .llo &M&chfil no great influence ta the fall ?}‘f.fo': the pound.sterling. No Change in 1924—Bank Votes Extra—New Financing Slow in Wall Street. By the Associated Press. NEW YORK, January 4.—The Har riman National Bank has declared an extra dividend of § per cent and the regular semi-annual § per cent, both payable January 4. Taking note of the various rumors which have been circulated regarding ore for 1923 in the ATLANTA, January Railway and Power Company has out- lined a program of expansion and d velopment of its hydroelectric sys- tems which will cost $10,000,000. This announcement followed the purchase by the company of the Wofford Shoals Light and Power Company. This work, with municipal developments and highway development undertak- ings by the state, is expacted to in- 0,000,000 worth of work this Year in north Georgla, provided suffi- clent labor can be obtained. Bankers ort that 1924 will also see the atest amount of public and private ilding construction since the civil war. —The Georgia St. Louis Business Spotty. ST. LOUIS, January 4 (Special).— The business situation in this section §s somewhat spotty. The oil indus- try. while encouraged by recent price advan is_still depressed. Fuel men have done only & moderate amount of business this wipter. Or- ders of retailers are small Imhsize, but e flowing in in astonishing num- \n?r* Spring orders for men’s clothing mre about 10 per cent under those of last Junuary. while bookings of dry ods for future delivery are o third o ast year at this time. Flour e working at from 60 to 85 Per cent of capacity. Pacific Shipping Active. SAN FRANCISCO, January 4 (Spe- rpyards here did more work period which $4.000,000 was taken in by t Bethlehem Shipbuilding Compan This was mostly derived from co struction of tank steamers for the Standard, ociated and Union companies. Almost $2.000,000 worth of ship repalr work now is under contract Live Stock Outlook Better. PORTLAND, Ore.. January 4 (Spe- elal).—Better times are in store for the 1lve stock growers of Oregon, ac- cording to Gov. Pierce, who has just Teturned from a visit to ranches in Tnion county. “T believe the market has hit the bottom and is on_the upward trend,” he said today. “The man who is able to raise cattle now should be able to realize a little money on them soon. But there are not many cattle left in eastern Zon. Ranches have been swept ab- volutely clean during period of Jow prices which forced many stoc hoir entire herds at seri- WOULD GUARD RIGHTS OF ALL RAIL LINES New York Port Board Opposes In- dividual Control in Word Sent to I. C. C. Trunk line railroads entering New York city should not be awarded in- dividual z factlities th authority o today with the Commission The document is preliminary to oral argument on general railroad consoli- dation, which will open before the commission Januar nd deals more rpecifically with the disposition which the consolldation proposals may make of the Central Railroad of New Jer- sey, a point in dispute particularly between the New York Central and Baltimore and Ohlo railroad execu- tives. Primarily the port of New York au- ort of New York brief filed e, the itended, in Inte thority position set forth in the brief | was that no disposition of the Cen road should be made except sufficlent safeguards “to insure tl use of the 1 snterest, any individ WAR-TIME GUN BARRELS MADE INTO OIL STILL BEAUMONT., Tex, January 4.— ‘Huge gun barrels, cast for service in o world war, have been converted of river, which will this week. Paul Gage. vies président of tho begin operation they proved to be exactly what was wanted in the {mproved high-pressure stills used In the new refinery, whi is said to b United State The capacity of the refinery is 10,000 barrels a day as tnitial produc- wion. the most modern in the —_— Revenues from the New Zealand mtate forests pay all the expenses of the forest administration and re- wearch. A MOTOR OILS EXOLINE is the one dependable motor oil that will give instant and thorough lubrication to all parts of your motor all conditions, in the In the interests of economy and longer life for yor Rexoline, the next time you need oil, s<olute control of terminal | erce | fields of Missouri, Oklahoma and Kan- sas totaled 69 tons, or 124,623 tons more than the previous high mark reached in 1920. Lead ore produced totaled 90,000 tons, or 3,659 tons less than was mined in 19 SAN F‘RA\C!SC) January 4.—Cali- fornia oil production is expected to increase, due to new drilling opgra- tions and the opening of shut-in pro- duction in the Midway-Sunset and Elk Hills district. Avout 2,000 wells, idle since last summer are gradually being put in production again. BOSTON, January 4—Efforts are being made to induce Henry Ford to accept another site from the one chosen for his new plant in Charles- town, which is now used public playground. Considerable resentment is expressed over its conversion to industrial purposes, Ford has been invited to establish his plant in Bast Boston. PHILADELPHIA, January 4.—The Globe Ticket Company, which makes a specialty of printing all forms of theater, cafe and checkroom tickets, has just opened its new plant, which has ‘o normal_capacity of 30,080,000 tickets a day. The company’'s business in the last vear sho wn increase of 35 per cent over DETROIT, January market is upset here. Nearly all in- dustrial plants have ubnormal reserve | stocks and are buying distress stocks from dealers at their own prices. The increased sales of coal and coke by the Ford Motor Company at 40 per cent under iling_rates to out- siders as well as to 35,000 employes’ ilies is becoming a greater factor ach winter. i FOREIGN EXCHANGE DROPS IN NEW YORK Dy the Associated Press. NEW YORK, of dollar exc and Lon-! don again today ed sterling | and frano exchange at the opening1 of the New York foreign exchange ' market. French francs dropped 5} points to 4.84': cents, a new low| price for all time. Traders reported | there was some selling of the frane bills in this market because of the| enormous increa rench mnote | circulation, as closed by Bank The soft coal and sterling opened at 3428 op of about 1 cent y's closing quotation, Proved to 54,90 Other continental exchanges opened lightly lower, Belgian francs being quoted_at cents, an overnight drop of 10 poin ! |SHIPPERS JOIN IN MOVE TO END CAR SHORTAGES | NEW YORE, January 4—A hun-| dred the largest manufacturers | and shippe: have jr\ivl(d‘ he Association in Atlantic coast y board s a step 1 elimination of car shortages argoes and an aid in _co-op- ely distributing the trafic load | of the railroads. Heads of the A. R. A. announced | that with most of the area of the nation already covered by similar re- gional boards, recently organized, others would be formed by next March which would complete the na- | tional reglonal board system. OIL sTOCK SCATTERED { *Standal‘d of Rentucky Widely | { Owned, Witnesses Say. ! | ATLANTA, Ga. January 4—Stock ! | of the Standard Ol Company of Ken- | | tucky is widely scattered, only three persons own as much as 2 per cent and only one owns as much as 3 per | cent, according to_testimony intr duced here in the United States d trict court. This evidence was produced in afi- davit form and signed by the secre- tary of the oll company at & hearing on a petition for an injunction | brought by the Wofford Ofl Company against the Standard Oil Company of Kentucky, the Galena Oil Company of Texas, the Gulf Refining Company and the Texas Company. RAIL HEARING SET. NEW YORK, January 4—A motion | to substitute the executors of the estate of the late George J. Gould as | defendants in his stead in the suit of stockholders of the Denver and Rio Grande rallroad for $200,000,000 today was set for hearing in the supreme court next Friday. The sult is based on alloged mismanagement of the Der ad = d then im- regional ward tl all times, under all coldest weather, ur motor insist on iaffected. cline’ from last October's earnings of 4.79 per.cent. By districts, the eastern’ group of carriers showed the lowest collective rate of earnings—4.19 per cent— while those in the southern district, the bureau reported, showed 4.95 ver cent, and in the western district 5.06 per cent. Revenue freight loadings for the weck ended December 22 totaled 877,- 257 cars, the car service division re- ported, an increase of 50,945 as com- pared with the same week.in 1922 and an increase of 210,652 cars compared with the same week in 1921. the floor for the thirty-day period, and that the membership or business of his it & Ferguson, was in no way Moss was charged, it was stated, with violating an exchange by-law . which has to do with personal misconduct with another member of the exchange. TODAY’S COTTON PRICES. Market Opens Lower, But Does Better Later in Day. NEW YORK, January 4—The cot- ton market was nervous and irregu- lar during today's early trading. The opening was 9 to 32 points lower on all months except in December, which was § points higher, and there was selling on relatively weak cables. Cotton futures opened: January, March, 34.80; May, 35.10; July, i October, 2 NEW ORLEANS, January 4.-—Poor cables and .private ginning figures aused selling on the opening of. the cotton market today, under which prices gave to the extent of 29 to 41 points, March dropping to 0 and October to 28.06. New buying met the decline and 3 ction_occurred, March traded at 356.12 at the end of the first bour of business, while O REPLY TO $1,000,000 SUIT. NEW YORK, January 4.—Denials that there was any justification for naming them defendants in the mil- lion-dollar suit for recovery of money paid for stock in the Temtor Corn and Fruit_Products Company of Granite 111, brought by 198 stockholders he latter company, have been is- sued on behalf of three New York de- fendants. Edward T. Bedford, president of the Corn Products Company, asserted he had absolutely no connection with the Temtor com and that he acted in good faith in disposing of the Corn Products Company plant at Granite City for $4,500,000. He said that the only reason the plant sold was that his company was obliged to do so by a government order. 5 points ales of Third Floor C a possible, sale or change in owner- ship of the Erle Railroad Company, President Robert F. Underwood has addressed a statement to employes that there will be no change in the company's management during 1924. Henry L. Doherty & Co., managers of the Cities Service propertles, an- nounced today the inauguration of an employes’ subscription plan. . Em- ployes who participate in the plan and who own at the end of five vears all securities originally sub- scribed for will be given, in addition, an amount of Cities Service 6 per cent preferred stock equal to 25 per cent of the amount purchased in the form of a bonus. While investment bankers indicate they are negotiating for several large pieces of new financing, thus far the new year has not brought out the large amount of new offerings which was predicted for the first week of the year. The listed bond prices have disciosed a relatively large volume of reinvestment buying. —_— $1 OVER 20 FRANCS. New Record Causes Wide Comment in Paris Press. Dy the Associnted Press. PARIS, January 4—The dollar for the first time on record was officially hildrens News. Published weekl For Bovys As regards the dollar, the Temps argues that importers and exporiers are by necessity speculstors in ex- commercial ns of 1923 exceeded 60,000, 000,000 francs, thelr more or less ed speculation was bound to have a considerable effect. The Temps 1in- on exporters the duty. back to even in part. —_— mey cause total blindness. “A good name to remem- ber” when you are market- ing—that is, if you are most particular about the quality and purity of the meat prod- ucts you serve, - OFFLERS Don’t merely ask for meat products, but specify “Lof- fler’s” Meat Products and be sure. At all first-class gro- cers, chain stores and our market stands. IOO/o BRURE- p and Sirls Sale! Boys’ and Girls’ Apparel at the One Price of Sketched from stock Big Boys’ Norfolk Suits 34.95 Smooth cassimeres and rough chevi- ots, in brown, tan, gray, heather and blue mixtures. Sizes 8 to 16 years, Boys’ Mackinaws $4.95 Heavy cheviot in vivid or dark plaids and plain colors. Full double-breasted style, with deep patch and muff pockets. Sizes 8 to 17 years. Junior Boys’ Sailor Suits 54.95 Regulation middy, button-on and Oliver Twist styles, of all-wool tweeds and fine French serge. Trimmed in true sailor fashion. Sizes 3 to 10 years. Junior Boys’ Ulsters 54 95 Deep -bodied chinchilla’ in navy and heather; fancy brown and gray cheviot, fashioned with large storm collar. SHERWOOD BROS., INC. T. F. Mattingley, District Sales Agent Lined with twill, plaid or red flannel. Sizes 3to 8 years. (Third ¥loor, The Heeht Co.) Boys Collegessetsyle Sweaters Heavy slipovers in college style. Deep double shawl collar model of all wool close woven yarns in navy, maroon, brown and heather and school combinations. Sizes 7 to 18 years. Two felt initials free with every sweater. ; : (o8 Tiowe, The ot On) Sale! Girls’ and Juniors’ Swagger Winter Coats 511.95 The sort of coats that ap- peal to mother and daugh- ter. Dashing effects of plaid or striped coatings,_ polaire, normandy, suedine and velour. With Beaver- ette or large self fabric collars. Side-tie, flare and straight lines. Light and dark colorings and mix- tures. Sizes 7 to 14 for girls and 13 to 17 for juniors. (Third Fioor, The Hecht Co.) Sale' Boys’ Union Suits 95¢ Heavy Ribbed Cotton Union-Suits, well made and good fitting. ‘Long sleeves, ankle length. Sizes 24 -to 34. Silver gray. Good, warm anderwear will minimize the danger trf ch:ldmn ; catching cold. Girls’ Dresses and Coats 54.95 Charming models of velveteen, wool crepe, French serge, Poiret twill and velour check. Reduced garments from stock and manufacturers’ samples. Many priced at 75 to %3 less than regu- lar. Not all sizes in each style, but sizes 7 to 16 in the group. The Tots” Coats $4.95 Winter Coatings, velour, broadcloth, bolivia and polaire fashion smart mod- els in flare or belted styles. Trimmed with nutria or self collars. Choose from a variety of desirable winter colorings. Sizes 2 to 6 vears. ) (Third Floor, The Mecht ‘Co.) Billiken Shoes Reduced For ‘Boys and Girls. Built to con- form to the needs of the growing foot and shaped along nature’s lines. Flex- ible soles that bend with every move. High-grade leathers. that will wear and styles that appeal to both mother and child. Black kid, button and lace styles, Sizes.5 .to 11 2. Fioer, Tuo ekt G k fi,. Sale! Imported Wool Hose 69° - Natfy styles for boys and girls, in all-wool 3 sport hose. Colors, gray, heather and whxte szes 7%'to ll (Third Ficor; The Hecht 'OOJ France the proces abroad, and not leavipe Decayed teeth and infected gums=