Evening Star Newspaper, March 29, 1924, Page 14

~ 4 * PRODUCTS QUOTED -+ SLIGHTLY LOWER Fish, Butter and Bananas | Decline in Local Market. | ‘Meat Supply Exhausted. Blightly lower prices in at least three products on the Washington wholesale market were predicted by dealers today. These products are fish, butter and bananas. The price live hens will command Monday could not be determined. They commanded abput 27 cents the first of this week and today were generally quoted at 23 to 24 cents a pound, The market was still well supplied and business was reported good. Fresh meats and smoked meats were well cleaned out today. Eggs, by commission merchants, were priced around the 22-cent fig- ure. Print butter was a little weaker and bananas were the same as yester- day. In regard to the latter product it was stated four steamers are due inBaltimore, and the bananas will be distributed within a small radius of that city. A lower market therefore ‘was anticipated. The vegetable market, as seen by the bureau of agricultural economics, Départment of Agriculture, follows: Apples—Supplies, moderate; demand, moderate; market, steady: barrels, Maryland, Virginia and West Vir- ginla, No. 1, two-and one-half inches up, winesaps, 5.5026.00; Ganos, 3.25a 3.75; Ben Davis, 3.00a3.50; bushel bas- kets, New York, Baldwins and Rhode Tsland greenings, No. 1, fair quality, 125a1.50; boxes, mnorthwestern, me- dium to large sizes extra fancy, wine- saps, 250a2.75; Stayman winesaps, mostly 2.25; yellow Newtowns, 2.25a 2.35; Arkansas blacks, 2.00a2.25. Asparagus—Express receipts _via New York, moderate; demand mod- erate; market steady; California crates bunched green, large size, mostly 9.00. Cabhage—Supplies, moderate; de- mand, moderate; market, steady; new stock, Florida, one and one-half bushel hampers Copenhagens and flat Dutch, 2.25a2.50; Texas, bulk per ton flat type, 80.00a85.00. Celery—Supplies, light; demand, mederate; market, steady; Florida, ten-inch crates golden self-blanching in the rough, 4-6 doz. stalks, mostly 4.50; 215-3 doz. stalks, 4.00a4. Lettuce—Supplies, light; ®ood; market, stea z'rlua iceberg type, 4. 30. Onions—Supplies, light; demand, light; market, steady; Ohic and Mich- igan,’ 100-1b. saks yellow varieties, No. i, mostly 2.50. Potato Market Steady. Potatocs—Supplies moderate: de- mand moderate; old stock, Michigan, 150-pound sacks Russet Rurals, U. S No. 1, 2.40a2.65 per sack: New Yorlk, 150-pound sacks Round Whites, U. S. No. 1, mostly 3.00 per sack; New stock, no early sales Spinach—Supplies light maderato; market steady; Texas, bushel baskets, 1.75a2.00; Virginia, Cidth-top veneer barrels, mostly 4.00. Tomatoes—Suppiies moderate; mar- ket steady: Florida, sixes ripes and tuening, wrapped, fancy count, 3.50a £.75; chotce count, 2.50a2.75. Strawberries—Supplies light; mar- ket firm; Florida, refrigerators, 60a 70, mostly 65 per quart. Carrots—Supplies moderate; market §igady: Texas bushel baskets, mostly “Boets—Supplies moderate; market !t::dy: ‘Texas, bushel ba.kets, mostly demand, California, doz., mostly demand : Arrivals Past 24 Hoars. Washington arrivals for past twen- ty-four hours, and cars on track at § am. today: Apples, 1 New York, 1 Washington freight, 5 broken and 4 nbroken cars on frack; cabbage. 1 Texas freight, 7 broken and 2 un- broken cars on track; celery, 3 brok- en cars on track; potatoes, 1 Florida, 1 New York, 1 Michigan freight, 73 barrels Virginia boat, 7 broken and 6§ unbroken cars on track; sweet pota- toes, 1 broken car on trafk; lettuce, 1 California freight, 20 crates North Carolinian express, 4 broken and 1 un- broken cars on track; grapefruit, 2 broken and 2 unbroken cars on_track: oranges, 3 Florida freight, 4 broken and 4 unbroken cars on track: onions, 1 broken and 1 unbroken cars on track; tomatoes, 1 Florida freight, 50 crates Florida express, 3 broken and 2 unbroken cars on track; cauliflower, 3 broken cars on track; string beans, 135 baskets Florida express; egg- plant, 56 crates Florida express; pep- pers, 80 crates Florida express; spin- ach,’2 Texas freigh¥, 59 barrels Vir- ginia boat, 1 broken and 1 unbroken cars on track; mixed vegetables, 4 broken cars on track; mixed fruit, 1 broken car on track; squash, 20 crates Florida express; strawberries, 9 re- frigerators Florida express; brussels sprouts, 20 crates New York express; asparagus, 188 crates, New York ex- press reshipped. —_— ALEXANDRIA. ALEXANDRIA, Va., March 29 (Spe- cial). — Resuming their operations after nearly a week of quiet, bur- Elars, who have plundered more than & score of Alexandria homes, yester- €ay morning entered two houses in Mount Ida, taking, as usval, only &mall articles. At the home of A. W. Petersilia a diamond and sapphire ring, valued at §180, and a pocketbook containing several dollars were missing. An overcoat and a pair of trousers were missing in the home of J. B. Kirk- man. TUpon investigation by Serst. Dris- coll of the Potomac police force, it ‘was found that entrance in both cases had been gained through rear win- dows which were not securely fas- tened. In neither instance was there any sound to arouse tihre occupants of the homes. Henry, alais Guy, Wood of Prince ®treet, was placed under arrest last night when officers found two and one-half gallons of corn whisky in a coke pile in the rear of his home and a small quantity in a jar which was in the house. He gave bond in the sum of $500 for his appearance in court today. His case will be dis- posed of later. rs. Mary E. Rogers, widow of Wil- liam Rogers, died yesterday at her home, 103 South Fayette street, after an: {liness of more than a year. She is survived by one daughter, Mrs. Mahlon P. Davis, and by.two sons, Eu- gene and Everett Rogers. Funeral arrangements have not been made. Funeral services for Mrs. Alice L. Brooks, who died Wednesday after- rdon, are being held this afternoon at. the home, 2006 Duke street. Services will _be conducted by Rev. Edgar Carpenter, rector of Graoce Church, and burial will be in Béthel cemetery. Mrs. Brooks Is sur- viged by five children: Edgar O., les. W. and Carls Brooks, Mrs. AZV. Crouse and Mrs. Charles Owens. Funeral services for Mra. Mary inia Nalls, who died Thursday in Staunton, will be held at Wheat- ley’s chapel this afternoon at 3 o'dock. Rev. F. L. Vernon, pas- tde of the First Baptist Church, will cdnduct services and burial will be Bethel cemetery. John Bayliss was exonerated of e in the case in which an auto- bile he was driving struck and se- ly injured Jerry Barrett, mes- ger for the Alexandria National k. The aceident was classed as 'voidable. —_———————— ¥ SILVER QUOTATIONS. YORK, March 29.—Bar silver, 63% ; Mexican dollars, 48%. NDON, March 29.—Bar silver, 335-16 per ounce. Money 1% per t. Discount rates, short bills, 3 ecent. Three-month bills, 3%5a 33:16 pencent, - - FINANCIAL.’ Received by Private Wire BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, March 29.—The gen- eral price movement at the close of the week on the curb market was unoertain, and public participation small. Some further selling in the oil group for the purpose of evening accounts aver the week end brought about declines from .the previous close as tbe market went into the second and last hour. South Penn Oil was offered down NEW YORK, March 29.—Following ie an official list of bonds and stocks traded in on the New York Curb Market today: o4y Sumat Tob 73%s 85 5 Am Roll Mills 6s.. 09% 1 Am Thread Co 6s.. 1023 4 Anglo Am Ol T%s 102% 8 Antilia, sugar Tige.. 99 1'Asso Sim Hdw 6%s 1% 1At G & WIS 8o 4 Am 381228 3RS ALE: WORER TREF 1 Grand Tronk 6is.. 106 1 Inter Match 6%s wi 93% 18 Kennecott €op 7s.. 104% 8 le Val H Ry 68 2 Libby MeN & L 7s 5 Market §t Ry Co 78 99 10 M St P Ry 5%s wi & 5 Morris & Co_7lss.. 100 1 New Or Pub Serv 55 5% 19 North St Power 68 987, 3 Ohio Power os B 1 Phil Blee 3%s '53 11 Ppb Ser of N J 16 Pure Oil Co_6%s 1 Shawsheen 7s - FOREIGN BONDS. Mex Govt s cf dep 33i 981 STANDARD OIL ISSUES. 300 Aaglo Am Ol ... 16% 20 Borne Scrymser .. 40 Buckeye P 1. . S0 Chesebrough Mf §60 Chesebe 3itx aw 100 Chesebr Mfg B 00 Hom Ol & 115 Imp Oil of Can 20 Indiana P L ..... 94 1500 Iater'] Pet Co Lid 19 10 Magoolia Pet .... 138 200 Ohio Oll new ...\ 8 440 Prairie O & 27 143 Praidie P L 02 20 Solar Refin 185 8 South Penn Ol 1 133 10 Southern P L .... 93 10400 8 O Indlana ...\ 6% 500 § O Kansas mew.. 41% 800 8 O Kentucky .... 1081 50 S O Nebraska = 400 S O N Y new 30 Swan & Finch §00 Vacuum Oil new. Sales INDEPENDENT OIL STOCKS. in hundreds. 1 Carib Sysd . 23 Cities Serrice 12 Citles Service pi 3 Cit Serv ptd B $1,000 Cit Serv C serd $1,000 Cit _Serv_serip. 53 Crecle Synd 10 Bogineers Pet 3 Gult 0fl of Pa . 1 Kirby Pet 22 Lago Pet UNIVERSITY OUSTS PACIFIST STUDENT Northwestern Action, Following Demonstrations, Declared Due to “Low Marks.” By the Associated Press. CHICAGO, March 29.—David Wal- lins, Northwestern University student, who is alleged to have participated in recent pacifist demonstrations of | Northwestern students, Was suspended for the semester yesterday by univer- sity officials, who said, however, that the action had no bearing on the pacifist question. Low marks in his studles was one of a link of circumstances that re- sulted in the action taken, James Armstrong, dean of men, said. Presi- dent Walter Dill Scott refused to state any reasons for the action. SAUNDERS OPENS STORE WITH COURT’S SANCTION Former Piggly Wiggly Head Wins Right to Start Anew—Use of Patents Denied. By the Awociated Press. MEMPHIS, March 29.—Clarence Saunders of Piggly-Wiggly fame, opened his new store here today with the sanction of the federal court Judge J. W. Ross late last night granted Saunders’ petition for an ap- peal of the injunction by the Piggly ‘Wiggly Corporation and modified the restraining order granted March 6 50 as to permit Saunders to operate gro- cery merchandise under his own name, but not to use certain patents, trademarks, names and “instrumental- ities” which the corporation claimed to have bought from Saunders. TIME FOR FILING REPLY. I. C. C. Concession Relating to New R. B. Line in Florida. The Interstate Commerce Commis- sion has granted the request of the orida Western and Northern Rail- P ompany for an. extension. of time to May 1 for a filing of a full reply to the commission's question- naire asking details concerning that company’s plans for construction of a new line from West Palm Beach, Fla., to Coleman, Fla., pending before the ‘commission. Reply to the ques- tionnaire was due March 14, but upon_representation by the Western and Northern oounsel that a new survey and considerable field work was neceasary on the proposed line between Coleman and Sebring, the commission agreed to the requested extension. The company’s counsel said - also that revised estimates would be submitted immediately upon completion of the field work. As a result of the delay granted by the opmmission it now becomes im- possible for the commission to give consideration to the -application for authority until after May 1. to construct the property ACCUSED DANCER WILL DEMONSTRATE IN COURT By the Amociated Press. NEW YORK, March 29.—One hun- dred and seventy-five men, arrested, charged with disorderly conduct, in a rald_early yesterday on an uptown dance , where they sald they had been attending a testimonial dinner to one of their number, wers dis- charged last night. A woman, ssid by police -to have been dancing in scanty clothing, ob- talned an adjournment of Her case until April 4, when her counsel said she would demonstrate her dance be- THE EVENING STAR; 'WASHINGTON, D. O, SATURDAY, MARCH 29, 192 NEW YORK CURB MARKET Direct to The Star Office 1% points, Humble Oil lost over a half point, and larger losses were made by higher-priced Standards like Chesebrough O'd, Prairie Oil and Gas and Borne and Scrymzer. A noteworthy ingident in the in- dustrial section was the overnight advance of & half point in F. and W. Grand _Stores, following the sharp rise of more than § points Friday. At 50% it was selling over 8 points above the close last Saturday. The selling of the oll stooks check- od any further effort at recovery in other parts of the market, and prices generally moved within' fractional iraits. 88 1% 1% 1 8% 45 14% 18 3% 1 Mount Gulf 2 Mutual Oil vot cfs. New Mex Land . w Royal Cana O & R Balt Ok Prod weBornanBsi INDUSTRIALS. Am Cot Fabric pfd 97 Am Hawaiian $ 8 .. 9% Am L & Tract . s Armour & Co pfd Atlantie Fruit wl Bridgep Mach wi Brit-Am Tob cou . Brit-Am Tob Co reg Bkiyn City R R ... Candy Prod Corp wi 2 Centrif Iron Pipe.. Chie Nip new wi . Childs Co new wi. % Childs Co ptd 1 Cleveland Auto % Colo Pow & Lt. 2 Cont! Tob Ine sl m e 1% 34 z 2F & W Gr St wi. 1 Ford 3otor Co Can oodyear Tire . Hazeltine Corp THeyden Chem .. flud & Mano R B Int Couc Ind Corp.. Kresge Dept Stores Lake Tor Bt 1st pf Miss River Power. 1 Park & Tilford 18 Radio Corp 2 Radio Corp pf: 1% Repetti Candy .... . 18al Gil PN V'wi 1 Shelton Looms .... 1080 C & T new . 15 Stuts Motor . 2 Swift Int . Bwift & Co . Tenn Elee Power.. i 3 1 1 1 6 % Bt 20 102 ) 56 . 58 4% 14% 8% on Carbide ... Retail Candy.. rd Bkg Co B wi MINING. 5 Alamo Gold Mine. . 30 Arizona_Globe Copp 20 Hooth Mining 4 Canarlo Copper 20 Candelaria Min ... . 1 Cons Cop Min mew 60 Cortez Silver ..... 100 Diam_ Black B & Dolores Keper - 6 Eog Gold Mines 20 Hardshell Min . 2 Hollinger 5 Hecla Mine o 20 Tndependence Lead. . 70 Kelly Ext Mines.. . 10 MammothDiv . 20 Mizpah Ext 10 McNamara 8 Metals Prods 20 National Tin . 3 11 New Dominion Cop T0 Nevada 8il Horn... 3 Ohlo Cop 2o 20 Plymonth Lead min . 50 Red Hill Florence. 5 Red Hill Warrior. 20 Reorg Div_Anaex. 20 Sandstorn Keng 10 Sil Kiog Div Mines . 180 Am Gold & P. 20 Spearhead Gold. 8 United Bastern .. RENEW MINE WAGE ~is'made of the:bill belore e, - SCALE FOR 3 YEARS Central Pennsylvania Operators Ac- cept Proposal of Union Officials. By the Associated Press. PHILADELPHIA, Pa, March 29.— The Central Pennsylvania Bituminous Coal Operators’ Assoclation today agreed to accept the proposal of the United Mine Workers to renew the present wage scale for three years. Representatives of the operators and miners will meet later to enter into a formal agreement. —_— EQUAL RIGHTS ADDRESS. Miss Cain, Woman Legislator, Will . Speak Tomorrow. “Why the Minnesota farmer-labor groups indorsed the equal rights amendment, and why they passed a resolution demanding that the Minne- sota progressives support this meas- ure without further delay,” will be told members of the National Woman's Party at headquarters, 1st and A streets northeast, tomorrow afternoon at 4 o'clock, by Myrtle Cain, the youngest woman legislator in the country and a farmer-labor representative in the Minnesota legis- lature. ¥ Miss Cain, who arrived in Wash- ngton Wednesday, has been a worker in the labor movement since 1919. She is twenty-seven years old and is the former president of the Trade Union Leagte, the secretary of the Henn pin county committee of the farmer- labor_federation, and a member of the City County Employes’ Union. Lucy Branham will preside at to- morrow’s meeting. BRIBE CASE TO JURY. Argument Ends in Trial of New Jersey Official. NEW YORK, March 29.—The case of J. Harry Foley, state superin- tendent of weights and measures of New Jersey; Maj. Herbert L Katz, and the Paterson Brewing and Malt- ing Company, charged with bribery and conspiracy to bribe federal agents to permit the manufacture of beer and. liquor, today went to the jury. ARRESTED FOR $63 BILL. Charged with failure to settle a $63 board bill at Washington Hotel more than- a year ago, Frank Bennett Sliger, thirty-one, Montclair, N. J., ‘was returned here last night from New York by Detective Sweeney. Sliger was arrested yesterday morn- ing on being released from Blackwells Island, where he had servdd a year on & charge of theft. Sliger, a university student, told the detective he had become addicted to the habit of smoking “dope.” His family had but little to do with him, he said, and he did pot blame them for it, but now he is cured of the habit, he added, and intends to work and repay the hotel bill and regain the confidence of his family. “I belleve he has been fully cured,” Detective Sween: declared, “and would like to see him given an oppor- tunity to obtain employment and get on_his feet in.” Bennett will be arraigned in Police Court Monday unless some settlement TRADE IS “WARNED" | OF COTTON FUTURE New England Textile Leaders Consider Appeal to Presi- dent for Relief. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, March 29.—Continu- ous “warnings” are being broadcast from various factors in the cotton and cotton goods trade. Nearly every |one connected with the industries in question is viewing the situation with alarm, but the dangers outlined differ widely. Factors in the New England textile situation are seri- ously considering an appeal to Presi- dent Coolidge for governmental as- sistance and relief. Conditions which are leading up to such an appeal, they say, have followed widespread curtailment of manufacture in that section. The print works and bleachery of the great Pacific mills is working but three days a week, as is the worsted plant of the company. Normal out- put of the print_works is 5,000,000 vards a week. The Everett mills closed this week until April 7. The {Lawrence duck plant is working at one-third capacity and the Acadia mill is employing only 50 per cent of its normal force. Employes Furloughed. One hundred and fifty employes of the Davis Furber Company have been lald off indefinitely. The White Val- ley denim mills_have closed for a week and the York Manufacturing Company mills at Saco have shut down until April 7, when they will resume on a three-day basis. The Pemberton mill and that of the Methuen company are among the few that are on full time. Manufacturers declare this our- tailment is due to the fact that the public is not ~buying goods. Print cloths are selling at about the same level as last August, when cotton was 6 cents lower. Producers are issuing warnings that widespread unemploy- ment is in immediate prospect in New England. Some declare that a cut in wages would only add further to con- fusion and disorgmnization of work- ing forces. Others say that a decrease in wages is an absolute necessity If New England is to meet the com- petition of the mills of the south. Public Not Buying. The southern mills agree that the nublic is not buying cotton goods, and they also are curtalling production, although not to so great an extent as the northern plants. more confident, however, of their ability to make money at present raw and finished price levels than their competitors. All the manufacturers unite in warning jobbers and retail- ers that their present method of hand- to-mouth buying must lead to higher prices, and that when public demand becomes urgent they will find it difficult to supply. The retailers are paying small heed to this warning so far, and the raw cotton men view with littie alarm the present apathy of consumer buying. The grow- ers and traders point out that very few people are being arrested for being im- properly clothed, and declare that the public must and will continue to buy cotton cloth. On their part, however, they issue a warning to manufacturers that the latter will find it difficult to se- cure raw cotton before the summer is half over. C. B. Howard of Atlanta, general sales ers’ Exchange, declared today the turn- ing point in cotton decline had come, and that advancing prices would result in an unprecedented demand for cotton goods. “Arguments, theories, crop pros- pects and sentiment cannot avert an ac- tual cotton famine before another vield,” he said. “Foreign spinners’ stocks are negligible, and the report of the inter- national master spinners on foreign con- sumption of, raw cotton will startle the worid. American exports already are 700,000 bales in excess of those of last year, while American mill stocks the first of this month were 440,000 bales under those of March 1, 1923. “Famine” Conditions Predicted. “Manufacturers will begin the new crop year under famine conditions. The whole world is absolutely dependent on the 1924 crop. A 12,000.000 bale crop would not meet demands before 1925, and that is impossible under present circumstances. With exports running heavy, where will spinners get their cot- ton in August and September” The one point on which all factors in | cotton seem to agree is that the gov- ernment cotton reports are unsatisfac- tory. —_— WIFE SHOT TO DEATH; ' HUSBAND HELD IN JAIL Slaying Alleged Result of Woman’s Refusal to Turnover Check. By the Associated Press. CAPE CHARLES, Va., March 29. Mrs. Bertie Holston Melvin, twenty- two years of age, was dead today and her husband, Capt. Austin R. Melvin, forty-eight, was in the county jail at Accomack, charged with shooting and killing her at their home on Chinco. teague Island. late yesterday. Sher- ifr's deputies declared Melvin does not deny the shooting, which they said followed the woman's refusal to give him_a check she had received from the War Veterans’ Bureau on account of the death of her brother, who was killed in France. The authorities also claimed that the aisparity in the ages of the cou- ple had much to do with the affair. The husband should have reported on his boat more than a month ago, but remained at home, the deputies said they were told by relatives and friends of the family, in order to watch his wife. ) MOVIE STARS RENEW UNITED ARTIST CONTRACT Pickford, Fairbanks and Griffith Sign Up—Chaplin Still Has Eight Pictures to Make. By the Assoclated Press. NEW YORK, March 29.—Mary Pickford, Douglas Fairbanks, Charles Chaplin and D. W. Griffith, at a stockholders’ _meeting _yesterday, agreed to carry out their existing contracts with the United Artists' Corporation, which distributes their motion pictures, last night. Miss Pickford, Fairbanks and Grif- fith, it was announced, also signed new three-year contracts, Chaplin not doing so because he had eight pictures yet to make on existing con- tracts. it was announced GOOSE LIVER PIES MADE TOWN FAMOUS From the Chicago News. The little French town of Stras- bourg has been made world-fomous through its manufacture of goo: liver ples, of “pate de foie This delicscy is said to have been invented in the latter part of the eighteenth century by a famous chef Clause, employed by the Marechal de_Contades, Alsace. There are about twenty-five man- ufacturers in Strasbourg. The_geese the farmers. Some families have been engaged in rais- ing geese for generations. It is necessary that the liver of 'a goose reacl isg one-time governor of are supplied b; its maximum size before be They are| manager of the American Cotton Grow- | ton—Altered View BY STUART P. il Dispatch to The Star. NEW YORK, March 29.—The Wall street markets of the last week are to be analyzed in much the same way as they were a week ago. Prices have not gone down because of any- thing that has happened at Wash- ington, although these happenings have been commonly played up as the alleged reason. The decline may be partly ascribed to an altered view of trade conditions and partly to a shifting of large speculative inter- ests from one side of the market to the other. For the last two years it has been the practice for a stock exchange movement to pass from advance to decline and vice versa without any intervening period of indecisive fluc- tuations. has been the history of i two years that every such swing, whether up or down, has ex- aggerated outside business condi- The market of November, . went down quite violently In face of the plainest indications that trade was on the mend. The market of February and March, 1923, went to the other extreme and pictured an era of inflation, which there was no warrant to expect. In the same way the decline from last April to October overrated the extent of the industrial recession and the upturn from the close of October to the close of January overrated the business prospects for 1924, WEST. Speculative Compaigns Noted. The point is that tive campaigns, on whichever side they occur, are inclined to excess. In their later stages they become | artificial and misrepresentative on the situation on the outside. The opinion was expressed in this column two months ago, and repeated fre- quently since, that Wall street in January had taken aliogether too rosy a’ view of things, that it was acting as if there was to be a busi- ness boom, which there was not, and that it was failing to take account of the numerous instances among in- dividual industries where conditions were unsaiisfactory. The decline in the market, pretty continuous since eariy February, has fitted in th this a‘titude. 'The gaes- tion 15, howe s speculative verdid things in the carly weeks of the year on the side of rising priccs will not | B0 too far now in the other direction, {Nobody seriously believes, that is, in the more substantial Wall street iquarters, that the scandals and hints of scandals unearthed st Washington have undermined confidcnce in the ibusiness world. There ace a faw who think that these disclosures have hurt the conservative cause at the {coming election, hut tney are in a very decided minority. The Dbest judgment is still that political de- velopments have been of compara- tively slight consequence, and that the market would have gone down anyway. partly by way of readjust- |ment from the excessive midwinter jadvance and partly because things had occurred which ceased to war. rant the indiscriminate optimism pre- vailing at the start of the year. The most unfavorable incident of modern specula- {STRONGLY PROTEST CROSS-STATE ROAD Proposal for New Line in Florida Opposed by Two Companies Before 1. C. C. The proposal of the Florida West- ern and Northern Railway Company lto construct a new cross-state line {has run into strong opposition from {the Florida East Coast Railway Com- pany and the Atlantic Coast Line, {both of which have filed protests with {the Interstate Commerce Commission attacking the application of the com- pany for federal authority to begin construction work Members of the commission said, howewver, that no date had been set | for hearings or arguments. It will therefore give consideration to the jcase in the regular order of the com- ! mission’s financial docket, the nature of which makes a date for the hear- ings indefinite. Reasons for Opposition. Replying to the commission's ques- !tionnaire on the Western and North- ern application for a certificate of public necessity, both the East Coast and_Atlantic Coast Line com- panies declared there could be little real good to the country traversed accomplished by the building of the proposed road. They were agreed in the contention that the applicant’s statements concerning the need for another cross-state artery were erro- neous and each asserted that the pro- posed road would take a share of the trafic the two existing lines now handle. The proposed line,” said the East Coast company's reply, “would not perform any service not now per- formed by existing carriers. It would in general be competitive with the lines of this respondent and the At- lantic Coast Line, and these two car- riers now provide a line for move- ment for trafic between the east and west coasts.” The Western and Northern com- pany proposed to build a line troml vest Palm Beach to Coleman, a dis- finfie of 205 miles, and to build lines from Valrico to Welcome Junction, ten miles, and from Callahan to Gross, fourteen miles. In little of this ter- ritory, the Atlantic Coast Line reply asserted, is there need for additional rail facilities. Atlantic Coast Comment. In detail, the Atlantic Coast Line referred to the territory fo be tra- Versed by the Western and Northern in this comment: “The territory through which the applicant’s railroad is proposed to be constructed, which lies between this respondent’s main line from Sanford to Trilby and this respondent’s main line from Sanford, via Kissimmee, to Lakeland, is undeveloped, except to the extent that the growing timber within this territory has been here- tofore removed by the operation of log trams or to the extent to which the remaining timber is now being removed by the present operation of log trams. The applicant’s pro- posed railroad through this region will serve an undeveloped territory. The applicant'’s proposed railroad southeast of Lake Istokpoga will, in the lower Kissimmeo river valley, serve an undeveloped territory in which | there is growing timber. Cites Character of Trafiie. | “The trafic which the applicant's, raiiroad will develop Wwill be north and south freight trafic from the forest and north and south trafic from the farms growing fruits and early vegetables. There will be an insignificant amount of local cross state traffic between the extreme south Atlantic coast and Tampa. The trafic to justify the proposed con- struction must be developed, because | there is not sufficient traffio in the territory which is now served by the Atlantic Coast Line and the Florida East Coast railway to justify the construction of a competitive north and south line. —_—— The cultivation of sugar beet in England last year showed a marked lndvance, the total acreage being just double that of the previous year, |its operation and that if adequate Decline in Market Prices Past Week Held Not Unusual Drop Not Due to Happenings in Washing- of Trade Condi- tions Among Cited Reasons. the last month or so has been the decline in agricultural prices, Cotton is off 11 cents in the pound from its high. Yet it appears that prices of cotton goods are down so low that even this decline cannot encourage a resumption of mill operations, be- cause the mill owners must still operate at a loss. The cotton goods trade is unquestionably the darkest spot In the business situation at the present time, and it can be cured in only one of two ways, either through a further curtailment in the output of cotton goods, or through such an increase in the 1924 crop as will force raw cotton prices down to more at- tractive levels. The prospect confronting the wheat farmer is a good deal worse than this. Last year was as unprofitable as any that the wheat trade has experienced. Yet cash wheat is now selling some 27 cents a bushel under what it was a year ago at this time, and the July and September options, representing the new crops, are down 10 to 12 cents. The decline in wheat has up- set the rest of tho grain market and the provision market, both of which have conmtinued to drop. Steel Trade Outlook Not Bright. Next in importance to the dubious agricultural outlook is the increasing competition and the implication of lower prices in the steel trade. Here, 100, there is a decided change as co pared with two months ago. Prices of basic commodities like fron and coal have been going down. The silk trade is much depressed and in the opinion of many a state of over- production is threatened in the motor industry. On the other hand, it is well to note the points in the situation which ap- pear in the same bright colors as they did at the beginning of the year. First, there is the extraordinary ease in money, which other things being equal, assures continued support for investment securities and the ready| absorption of new corporate offerings. Second, the oil trade, which was the weakest of all a year ago, is now in strong position, with production of crude oil below consumption, and with _everything pointing toward higher prices as soon as the Senate investigation is over. Third, the prospect is undiminished of sugar producers having another profitable year, with the chances favoring their etting even higher prices than they did_in 1923. ¥ Fourth, the distributive trade, as represented by chain store, depart- ment store and other similar organi- zations, is running ahead even of the remarkable totals of a year ago. Fifth, copper production is in process of readjustment, so that this indus- try. so long in its unsatisfactory shape, can fairly look ahead to a season of greater profit. Sixth, there are the | record-breaking figures on railway | tonnage and the very flattering re- | sults of railway operations in Febru- | ary, which seem likely to be repeated | in"the current month. | Business Situation Irregular. Tt will thus be seen that the busi- neas situation is extremely irregular, | and can neither be adjudged or de- | scribed as a whole. The same may be said for the stock market, with the | qualification, however, that even In: gToups representing industires in an | unprofitable condition, the decline of | the last six weeks must have dis- counted a good deal SALES TO STOP LOSSES HARD ON OATS AND WHEAT Prices -in Chicago Markets Past Week Forced to Low Records. Setbacks Noted. By the Associated Press. CHICAGO, March 29—Selling to stop losses in every kind of grain this week forced wheat and oats to low price records for the season, and for the first time in some time put corn down to about an even ratio| with hogs. Compared with a week | ago, wheat this morning showed 4% | to 4% decline. Other setbacks for the week were: Corn, 3a3% to 3%; oats, 2% to 3%a3%, and provisions, 2 to iz Wheat led the downward procession of grain values, and it was contended that the world supply was so much in excess of needs that exporters were independent of the United States. Reports that New England was im- porting oats from Canada, duty paid, had a disconcerting effect on wheat and corn as well as oats. Shipping inquiry here for corn was slow. Weakness of the New York stock market and of cotton also counted at times as depressing factors as to grain. Provisions were partly steadied by predictions of a falling off in the volume of hog receipts here as soon as farmers start field work. PHONE MERGER PLANNED. Southern Bell Company Would Ab- sorb Line in Florida. In a joint petition flled with the Interstate Commerce Commission to- day the Southern Bell Telephone and Telegraph Company has asked federal authorities for absorption of the Bre- vard County Telephone Company in Florida. The properties which the two concerns have petitioned to be taken over by the Bell interests in- clude exchanges in Smyrna, Titusville, Cocoa, Melbourne, Vero, Fort Pierce and Jensen. Fla. The Bell has agreed to pay $110,000 to the Brevard ®tock- holders for their holdings. The Brevard county company in- formed the commission in its petition that it was unable to properly finance service were to be rendered hereafter new financial backing must be sup. plied. It believed the merger pro- posed in the joint plea would serve that end. BOSTON WOOL MARKET. BOSTON, March 29 (Special).—The wool market closed the week firm but quiet, in spite of the statistical position of the commodity, which shows small stocks on hand at mills. The demand was largely confined to special grades. Much of the Arizona wool clipped this spring has already been moved, either by consignment or on contracts or by regular pua- chases on the ranges. Mohair is strong. Is this a Bear Market in the Industrials and a Bull Market in the Rails @ i’ dhe market. are TaraiiRnt A i i rent evage A ive outlive of these fea- tures is of great value to the conserva- g AL = : dications from d:y tol:nylon lfl’v..-#-‘l stocks, cotton and grain, always i the MAIN trend in mind. Just a real good safe and eane service, the accuratemess of which will surprise S The Service With a Cosscience Ten doliars will give you a full menth's trial, incloding a special letter treating on the above questions. Sabecription price will be retarned upon request at the end of the month if not satisfied. Send your ten dollars today. Lionel Investors Service 10 West eh Streer, Now York NY. FINANCIXEL. PLEA FOR ‘CENTRAL’ TIME Pennsy Railroad Wants Change on Zanesville Branch. The Pennsylvania railroad today asked the Interstate Commerce Com- mission to modify its recent order defining its new central-easterr standard time zones. The Pennsylva- jnia wants the Zanesville brarnch of its isystem operated under central time as far east as Trinway, Ohio. PIGGLY WIGGLY ORDER IN FAVOR OF SAUNDERS Court Grants Petition for Injunc- tion With Permit to Operate Under Restrictions. By the Associated Pres JACKSON, Tenn., March 29.—Judge J. W. Ross of United States district court late last night granted Clar- ence Saunders’ petition for appeal of the injunction suit brought against him some time ago by the Piggly ‘Wiggly Corporation. The ‘order permits the operation by Saunders of grocery and other stores under certain restrictions. It pro- vides that the restraining order still applies to ‘patents, trade marks and instrumentalities and devices sold by Saunders to the corporation several years ago. However, Saunders may engage in business under his own name as an_individual. MEMPHIS, Tenn., March 29.—Clar- ence Saunders announced that he would open the first unit of his chain stores system here at once as a result of the order issued by Judge J. W. Ross in Jackson las night. The order modified the restraining order grant- ed by Judge Ross on March 6, which enjoined Saunders inaugurating the new system. Saunders said he had arranged for an_elaborate opening. He has en- gaged two or three bands. NEW YORK DRY GOODS. NEW YORK, March 29 (Special).— The market for cotton cloths showed iittle activity today. Prices for 64x60 print cloths were unchanged at 8% cents, but 68x72s. advanced frac- tionally to 10%. The drop in raw silk_prices continued, with 20-22 at $6.55, XXB at $6.50, extra at $6.40, best No. 1'X at $6.35. Cantons drop- ped 5 cents a poun 1 |authorized by BROKER IS INDICTED. New Yorker Charged With Making “Wash” Sales of Stock. NEW YORK, March 29.—Charged with having made sales of stock, and with manipuiating prices in 1819, John Farson, head of John Farson Son & Co. stock brokers, was in dicted by the grand jury today and was held in $2,000 bail. Farson was expelled from the New York Stock Exchange early this vear for alleged participation in wash sales and for alleged violation of the exchange constitution. His dismissal after trial before the board of gov- ernors was based on charges con- nected with the flotation of stocks of oil companies which later went into bankruptey. A statement issued today by Wil- liam Farson on behalf of the firm said “The indictment of John Farson is unjust and unfair. Farson has been sacrificed in a war between the stock exchange and the district attorney. The district attorney denied us the right of a preliminary hearing before a magistrate. Our firm is abundantly solvent. Neither John Farson, nor this firm ever participated in the rigging of any market or in any fictitious transactions.” PLANS TO REORGANIZE. NEW YORK, March 29.—Reorgani- zation of the Southern Cotton Oil Com- pony, subsidiary of the Virginia-Caro- lina Chemical Company, which fol- lowed the latter into receivership sev- eral weeks ago, shortly will be effected under a plan whereby it will be di- vorced from the parent organization, it was learned today. The services of George K. Morrow who last year successfully reorganized the American Cotton Oil Company, it ‘was reported, would be sought %o read- just the company’s finances. Rumor that two cotton oil departments would be merged are confirmed. a— R. R. $5,000,000 BOND ISSUE. The Central of Georgia railroad w the Interstate Com merce Commission today to issue and sell 35,000,000 in 5% per cent refun ing general mortgage bonds w the company may sell at 94 per of par. The issue is to retire a amount of bonds now outstandi We Have Money To Loan On— Improved Real Estate | At 6% and 6%9 WM. H. SAUNDERS CO., INC. REALTORS 1433 K St. NW. MAIN 1015-6-7 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST, Rondalt e Hagnes & Co — FUNDS PLA CED FOR INVESTORS 17 SELECTED FIRST MORTGAGES Conservative investors seeking liberal income re- turns plus safety of principal for amounts in multiples of $250 can place their funds profitably and conveniently through our mortgage department in sound first mort- gages on select Washington properties The officers of this company, without obligation, will gladly confer with any prospective investor and dis- cuss loans on specific dwellings, apartment or business properties. If so instructed, they will place the investor’s funds in first mortgages on the same agent basis that the com- any is constantly serving its regular client-investors— individuals, attorneys for estates, banks, corporations, trustees and guardians. H. L. RUST COMPANY Loan Correspondent of the Prudential Insurance Company of America 912 15th Street Main 6888 Century Without a Loss Main 2100 EITHER AN INVESTMENT IS SAFE OR UN- SAFE—THERE IS NO HALF-WAY GROUND For over thirty-one years we have specialized in conserva- tive FIRST MORTGAGES —without a loss in either prin- cipal or interest to any client. If safety of principal and an interest yield consistent there- with appeal to you, vou can make no better investment than-to put your funds in our First Mortgages. B. F. SAUL CO. 1412 Eye St. NW.