Evening Star Newspaper, March 13, 1924, Page 27

SOUTHERN cummnni DIVIDEND DECLARED Stock Plaeed on $5 Annual Basis—Action Starts Sharp Price Advance. Associated Press. W YORK, March 13.—Directors of the Southern Railway Company today declarcd an initial dividend of on the common stock, placing 1 basis f the dividend im- mediately it a flood of buying ordors for the road’s shares into the | stock market, the guotation jumping { to 3. a record high for all housands of shares changed hands within a few minutes after the dircetors' action became Known. Dividend on 1,200,000 Shares, The dividend is the first to be paid 10,000 common shares since nization of the road in 1894, in 1887 dividends on the ed stock have ranged from 1 5 per cent annuaily. brou, of the ave been put back . buildi it sixth la railroad t United States. Program of expansion wi which carried its lines into every tmportant section of the south, with the except.on of Florid: d Rapidly Improved. ditures on the prop- lone, according to prisident of the totaled $145,000,000 in addition to more than $30,000,000 derived from surplus earnings, In the three years before gover.® ent control that time the Southerr rried to sur- b share of lus from road into rning pow- wed a ch sh 6,000,000 of divide was anticipated last f but action was deterred until com- plete figures on 1923 operations were wvailable. Preferred Dividend Also Voted. i ially announced that it € of the directors here- af consideration quarterly to the matter of preferred as well as common_ divider Tod announced as nent on the commen iso declared today ai dividend of oc EMPLOYES OWN STOCK. Marked Increase in Shareholders | of Big Corporations. NEW YORK, March 13.--The Amer- Telephone. and Telegraph March 1 had 298 stovkholders, compared 1,149 on December 21, 1923, an in- crease of 17,608 in two months. This is the largest increase for such a period and s more than half of the( hole gain in 1923, which aggregated | 224 Stockholdcrs. The total com- | stockholders 228 stock- lroad on i « this vear is thuat | mployes who con nts thus have b d ROPOSAL TO TAX FRATERNAL INSURANCE Special Dispatch to The Star. CHICAGO, March 135.—Fraternal in- surance organizations in the United States are menaced with taxation which will hit their 10,000,000 polic nolders, declared W. R! ident of the National Fraternal Con- gress, in an address here. The state of Tennessee has started taxing fra ternal insurance associations —now said Mr. Shirley, although for nearls fifty '-l‘ % since fraternal insuran ha i orders their b country, they have : as mnon-profitmaking, ions, exempt from he fratemal orders are the poor | fpan's insurance,” said Mr. Shirley. “They arc non-profitmaking. Their beneficiaries are limited by law to the immediate families and depend eats of the members.” Shirley, pres- | i —_— ‘A silver nugget /Pounds and assaving 75 per cent pure ‘ere was found by a cobalt miner while doing assessment work on his ¢laim on the Montreal river. Don’t Let That Cold Turn Into “Flu” Rab on Good Old Musterole o2t cold may turn into “Flu," Grippe , even worse, Pneumonia, unle Rake care of it at once. e Rub good old Musterole on the con. gested parts and see how quickly It brings relief. Colds are merely congestion. M; terole, made from pure oll of mustar eamphor, menthol and other simple In. gredients, is a counter-irritant which stimulates circulation and heips break up the cold, As effective as the messy plaster, does the work witi weighing 3,200 old mustard out blister. Just rub it on with your finger-tips, You will feel a warm tingle as it enter. the pores, then a cooling sensation thas orings welcome relief. To Mothers: Musterole is also made in milder form for babies and small children. Ask for Children’s Musterole. 35¢ and 65¢, in jars and tubes. The Easiest Way To End Dandruff| |, There is one sure way that never fails to remove dandruff com- pletely, and that Is to dissolve it. This destroys it entirely. To do this, just (. about four ounces of plain, ordinary liquid arvon;apply it at night when retiring: use enough to moisten the scalp and fub It in gently with tho finger ps. By morning most, if not all, of your dandruff will be gone, and iwo or three more applications will completely dissolve and en- tirely destroy’ every single sign and “trace of it, no matter how much dandruff you may have. You will find. too, that all jtch- ing and digging of the scalp will | stop_instantly, and vour hair will | | be flufly, lustrous,” glossy, silky | and soft.'and look and feel @ hun- dred times better. You can get liquid arvon at any drug store and four ounces fs all you will need. This simple rem- dy has never knowa ta jmanufacturing plant with a daily cap- | BROKER ADDS OTHER FIRMS. Cities Service Company Takes on Concerns in Topeka. g Special Dispatch (o The Star, NEW YORK, March 13.—The Con- sumers Light, Heat and Power Com- pany of Topeka, Kan., and the Union Public Service Company which oper- ates natural gas subsidiaries serving a population of more than 75,000 peo- ple in the southern part of Kansas and northern Oklaho; are now sub- sidiaries of Cities Service Company according to an announcement made today by Henry L. Doherty & Co. The Topeka Company will be opar-. ated under the name of the Capital Gas and Electric Company and will serve 13,000 customers in a territory where the population is 50,000. A gas} acity of 650,000 cubic feet is held in reserve by the compan IS CONVICTED OF GRAND LARCENY Sprague Alleged to Have Kept| Stock Bought for Clients—Under Fifteen Other Indictments. By the Associated Prees, FORT WAYNE, Ind., March 13.—F. Guy Sprague, head of the F. Guy Brokerage Company. which failed two years ago with a loss to investors of ncarly $500,000 victed today by grand larceny. by con- Jury on a charge of | prague was indicted | Krand jury which investiguted ! the fallure of his firm. The penalty for the charge on which he as con- victed is fmprisonment from two to fourteen years It was’ allezed Sprague converted to his own use sto bought for clients. dictments are pe ng against him. CRUDE OIL OUTPUT GAINS DURING WEEK| Increase of 31,500 Barrels—Im- | ports Also Up in February, Lat- est Reports Reveals. By the Associated Press. + March 13.-The daily | average gross crude oil production of the United States increased 31,500 barrels for the week ended March §, | totaling 1,916,450 barrels, according | to the weekly summary of the Amer- | ican Petrol Institute. The daily | average production east of the Rocky | mountains was 1.262,100 barrels, an | increase of California pro- | du was 0 barrels. an in- | crease of 8,2 i Daily average imports of petro- | leum at prineipal ports for the month | of February were 273,172 barrels, compared with 216,613 for January. | and_for the week ended March 8. | 279,857 barrels, compared with 351,143 for'the previous week. Daily average receipts of California ofl at Atlantic | and gulf coast ports for the month of February were 194,690 barrels, com- pared with 178, or January, and for the week ended March 8, 161,000, compared with 193,714 for the previ- ous weck. Pennsyvivania erude ofl is now being | d for the Bradford district $4.50 | E rel and all other grades $4. 3Md-Continent was advanced and is | now being quoted from $1.25 to $2. cording to the gravity of th bast s quoted at S h some companies quot- B" at $1.40. l‘:xllfur"ul; from $1 to $1.40 a barrel. depending upon the gravity of the oil. | e PITTSBURGH, March 13.; l)cma.ndl for building material is not so active here now, a strike of a number of building ‘trades unions early this month having affected all classes of building. {ing campaign, chiefly - - THE IN FRENCH FRANCS $100,000,000 Credit Plan in New York Cause of Vio- lent Advance. A By the Associated Press. - NEW YORK, March 13.~Fortified by the $100,000,000 credit established here for the Bank of France, the French franc mcunted 15 points to 4.35 cents at the opening of today's foreign exchange market and then soared an- other 11 points to 4.46 cents. The rise, following earlier gains in London, was accelerated by a rush of short covering. Francs Now Show Decrease. PARIS, March 13—The statement of the Bank of France, issued today, showed a total of notes in_circulation of 39,929.800,000 francs, a decrease of 336,132,000 'This compares with an in- crease of 921,225,000 francs during the preceding week BUSINESS TOPICS. MILWAUKEE, March 13 (Special).— The Wisconsin state life insurance department is planning an advertis- through daily newspapers, in an effort to expand its business to $1,500,000 unnually. only $500,000 of business on its book to show for its ten years of opera- | tion. LANS efal).—] . This is an in- 0 men in the lust sixty EVENING STAR, WASHINGTON, IFURTHER BIG RALLY}™"%er'or an-ovsray Special Dispatch to The 6tar. NEW YORK, March 13.—Thomas A. O'Donnell, president of the Ameri- can Petroleum Institute, states that 97 per cent of the oil industry is not involved In the charges of fraud at ‘Washington. Sixteen thousand com- pantes and individuals and with mil- llons of stockholders produced more than 2,000,000 barrels of oll per day during the last year in the United States. The companies holding the leases about which the controversy is raging produced not to exceed 3 per cent of the total production in this country, FREIGHT TRAFFIC HEAVY. Seaboard Air Line Making Fine Seasonal Records. Gpecial Dispatch to The Star. BALTIMORE, March 13.—Loaded cars moved by the board Air Line 1923, and ractically the e increase over January this vear. In the first week in March 42,700 carloads were moved, against 43.103 for the same period last year, which is conwidered a good showing, as last year's Warch £Tose revenues were the largest of any month in its history ex December, 1923, February loadings were much above last De- h. 02 loads were moved and the road’s gross revenues topped all of its previous records. CURB SEATS GOING UP. NEW YORK. March 13.~New York membership of W n sold to Har Market 4 increase of ¥ n n Tu PENNSY RAISES PAY OF 22,000 EMPLOYES Engineers, Firemen and Hostlers Are Granted 5 Per Cent Advance in Wages. NEW YORK, March 13.—The Penn- sylvania railroad system yesterday reached a settlement with its 22,000 engineers, firemen and hostlers whereby a 5 per cent increase was granted. In addition to changes in rates of pay certain modifications of existing' regulations covering working rules, which are believed to be of mutual e, were also agreed upon, cific _Increases over the Jasis of daily rates granted new agreement are as fol- : Passenger service, 24 cents per freight service, 36 cents per rvice, 32 cents per da; hostlers und hostlers’ helpers, 32 cents per day. The effecti of pay is Junuary 16, 1924 new regulations, April 1, date of the new rates and of the 24, AUTOMOBILE OUTPUT HEAVY IN FEBRUARY Quarter of Year Easily Passes Records Made Early in 1923. SW YORK, March 13, tive Tudustries says: “W duction of 343,141 motor trucks in ruary, the first two months of the year show an ag- gregate output of 6 pared with same period First ~—Automo- but this shoe manufacturer, one of the biggest in the world, writes as above, “Whittemore’s Polish is supreme, and there is undoubtedly no other thoe polish that compares favorably with it.”” High praise, but merited, because we use the finest of ingre; nts—no acids: —to0 preserve and prolong the life of the leather—and to give a more lasting shine. 4 Particularly is this true of Whittemore’s Oil Paste Shine Polish made in black, brown, tan and russet, for all leather shoes. For every style af footwear from snede o canvas you will find at your dealer’s & Whittemore dressing exactly right. Half & centary of knowing how makes Whittemore's Polishes Supreme. Shoe Polishes ARE SUPERIOR WHITTEMORE BROS. Onefrequently hears the comment that forty miles an hour in & Plerce-Asrow seems no more than twenty. This quality of smooth and effortless per- formance is the origin of the expression— “Rides like a Plerce-Arrow.” Certainly no car in America is so widely desired for touring as the Plerce-Arrow Seven- Passenger open modal. It is roomy, comfortable and easy to drive. Added now to an ability to travel almose. The credit factlities of the-Plercs-Arrow Financs Corporation, a Plercs- See the Pierce-Arro Arrow banking tnstifsdi BOSTON, MASS. incredible distances ina day’s run, is the new mastery of control afforded by Pierce-Arrow Four-Wheel Safety Brakes. ‘We invite you to an hour’s study of this long-lived car at our showrooms. It will re- veal many ins reasons why Pierce interesting Arrow ownership is an investment in lasting satisfaction, 5 ® o o Pierce-Arrow Four-Wheel Safety Brakes are offered as optional equipment at an od- ditional charge. are extended to purchasers of Plerce-Arrow cars w equipped with Four-Wheel Brakes at Auto Show, Mar. 8-15 ARROW “PRIDE OF ITS MAKERS MAKES YOU PROUD IN POSSESSION" ‘We are exhibiting at the Auto Show, space 14, Convention Hall, 5th and L streets. FOSS-HUGHES COMPANY 1141 Connecticut Avenue N.W., WASHINGTON, D. C. Baltimore, Md., 1313-1315 Cathedral St. Telephone Franklin 4541 0 e e————————————————————eeeeereereeeeeee e e B ey last year.total production amounted to 875,508, & figure that will be sur- passed 1 easily this year. “February’s high mark was estab- lished in the face of a short working mobiles ‘When better automobiles are built, S month, during which.a record daily | since June last vear. Reporis show average of 15,130 was made. that truck demand s steadily in- ~'Of the total February output, it is | creasing, sugniented to a considerable estimated that truck production ex- | extent by the growing use of motor ceeded 31,000. the best mark reachad | busses, a branch of truck operations. all fore- Gibrattar 451« They compare all auto- with Buick MOTOR CARS y Buick will builé them Ntandard for over fwo generations has been on the market for seventy years and is still the best known make. ‘ “Standard” petroleum products have been on sale for over fifty years. What better proof could there be that both have faith- fully filled a definite public need? By doing so they have become the standard in their respective fields. You can count on your fingers products which have maintained 'supremacy in their field for two generations or more. To please the public year after year for over fifty years is a severe test. That is what the products of the Standard Oil Company (N. J.) have done. “Standard” Polarine Qils and greases have become standards of comparison, each in its class. When you buy a “Standard” product you can be sure that you are buying as good a prod- uct as is made. But the only way to be sure of getting it is to ask for it by name. STANDARD OIL COMPANY (New Jersey) Buy the best oil but by it by name— and the neme is “Standard” Polarine NDARD" “oolarine