Evening Star Newspaper, April 25, 1924, Page 29

FINJ ANCIAL. MEATS AND FISH VIE | IN UP-PRICE TREND | D. C. Wholesale Market Inrlica-“ tions Are for Increased De- mand for Commodities. LIGHT RECEIPTS ALSO NOTED Department of Agriculture Report on Vegetables. - 1 vied with | Wl business race on | market to- | ood heef had an upward ding to re- | rapidly. Fish, continued to | which, how on their prices. | ~ whole- | calt market : Conts Vezetable Market Heport. was said to be Gen and Y Duyis xXtra fane Newtow ra fancy Newtowns, mand 1 «arolina , bulk, per te Supplies mode market slightly Ohio and New standard Totato Demand Moderate. Potatoes—Supplies libe mnderate. mark round whites bushe it Peppers outh Carolina \ filled, unbrok el Girapefruit— broken and Onions | hroken | To- | 10 crate and 1 n 15 bb, 3 broker Mixed Straw- Jida a4 120 <hipy; 1 Carolina crates, | umbers press. NET INCOME N. & W. ROAD. March Total $1.554.990.22, Show- | ing Increase Over Prior Month. | ROANOK ne of t in Mz yer the month_ of net ineon $902,066 107,316.7 financia ast made company . Y. RESERVE BANK REPORT. " YORK, April —The stat )t the condition of the Federal | Reserve Bank of York at the | ose of bus Friss Total gold res 000; to- tal reserves ounted, .«lh,ur:nl gations, 180,000 ¥ $25.7 $145,14 3,000; due |§"' i « 743,095,000 s?&’ffihsfonn; federal reserve notes in actual cireulation, $3: 566,000; ratio | of total reserves to depoxit and fed- eral reserve note liabilities combin- ed, 90.8 per cent. reserve ac 4l deposits embers to RATE COMPLAINT DISMISSED. J aint of the Lackawanna ¢ Against coal And ore rates from point in Pennsylvania and O™ (he great lakes producing fields Buftalo, Y., was dlsl’lh‘EQ‘d today b the Interstate Commerce Commis- 10 e complaint was flled against the Pennsylvania Railroad Company and harged that rates on coal and coke om Reymoldsville, Pittsburgh and Connelsville, Pa., to iron and steel manufacturers at Buffalo were un- reasonable, and that Y‘:l(?\‘ on ore shipped from lower Lake Erie ports to competing interior iron and steel manufacturers were unreasonably low. The commission held that the re- lationship between the ore and coal rates did not result in undue prefer- ence. LUMBER RATES SUSPENDED. Proposed new rates on lumber and other forest products from Baltimore, ) Jersey City, Philadelphia and New York- to interior points today were suspended from April 25 umtil Au- | Zust 23 by the Interstate Co ¢ NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN, Special Disput SW ' to The Star YORK, April @ n today which est amount of s n. While the latest erning wil 1 conflicting, the that the recent d tocks had b that further prices ndard it absorbed th the Uisties qon- the e situiiion majority rried en ¢ eme recavery from low not uavar moved up 1 to aln oceurring which sold oils larges na_Gs of Ohio, numb improye from Thuri nent stocks, such as in- acuum and Kentueky, rallied more. of stantially up iy diana @ point W however, was was more the significance special buying —TFollowing is and stocks York Curb NEW YORK, Apri s an official list of bo: traded in on the New Marker today AlliedPacke 1 Dunlop 16 Dug L&P 5 K Gen Asphalt 1 Grand Trus Leat ) St Tilford 6 or & Lt 5 5 Wt war 101 N g 5 T 1 Sig it bie 0 & I s P L. ot Can swan & ) Vacuum 0 Mex Land roOl & Gas Beaser 011 ock 01l Bank 01 new ox 01l & Gax.. ley Pet.. INDUSTRIALS B4 1Ch Np B Tr new wi 1 Alden Ccal 1 Goodyeur ¢ Corp W & Man I 1 1 Lmperial Toba 1dnt ¢ Hox Co Misx Kiver Power ¥/ 13 Radio Rad Rad Co pf nw wi & 18 Gl P NV owl 80 8o € & 1 mew COMMODITY NEW WIRED STAR FROM ENTIRE COUNTRY KANSAS CITY, April 25.—Whole- salers throughout the southwest re- port an increase in busin ing from favorable weather, good for seasonal chanuise and summer goods, colored linens in such request difficult to secure mill delfveries. Demand is specially it PHILADELPHIA, April 25.—Re- ports on the volume of Easter busi- done by local that sales fell year, which were for this vicinity. ness cate, last good behind those of remarkably NEW ORLEA April —The jobbers have had the best week for | two months, due largely to warmer weather and rapid progress in plant- ing in the agricultural districts. De- mand is better, however, for fancy goods than staples. Central Ameri- can trade is picking up. BOSTON, April 5—The Amalgama- tion of the United Shoe Workers of America with the Shoe Workers' Pro- tective Union has ‘led executives of the merged organizations to issue a call to workers throughout the entire country to join the amalgamated as- sociation. PORTLAND, Ore., April 26.—A Nor- wegian steamer has just been fixed for late Mry or June loading of 4,000,- 000 Teet of lumber for Shanghai.” The steamer OFiNoOCO Now is on the way to Atlantic coast ports with @ cargo of 8,750,000 feet, CLEVELAND, April 25.—The Peer- less Motor Works is working day and night to catch up with orders for the new six-cylinder model. Peerless got into production later than was an- ticipated, and officials say operations will continue at a high rate for some time to come. d SPRINGFIELD, 11 A 25_1ne i number of laying M“'N{" Illinois in it ¥ _and another of the | . BRANCH BANK BILL | mer- | with | merchants indi- | THE EVENING STAR, WASHINGTON, iade its appearance in a num- r of the independent oils. Included iz these were Royal Canadian, Creek Producers and Mountain Increased activity in the first named, in evidence Thursday, re- | flected important development in' the | Alberta territory. Royal Canadian old well above 4 on a large turn- over, and was about a point_higher. arnings repért of Mountain Producers is due within the next few | days and is expected to show approx- imately 34 a share earned. The talk wus that in_view of the favorable showing another extra dividend could be loc Strength in Salt Creek Producers was sympathetic with that n Mountain Producers. The bet & towarl shipping - past few n-Haw. market, althoush 1t was only fractisnal. Company preferred continted 1d sold up within a Americ curh tian . on improve- “raction T n Shoe Mach Corp S Lt & Heat.. U S Lt & Heat pfd s Co Ib wi Co ptd Taxi Corp N Y MININ Daily Staing u Mine Beud M Div Min 5 Kay Copper Corpn Kel ymonth Lend 3 Tted Warrior eoriunized Div ok Mt S & I scky Mt S&R pfd s A0 Walker Minin, Wenden Copper 5 West Lind West Ind Ext | REPORTED TO HOUSE McFadden Measure Would Give; Right to Operate Any Num- ber in Large Cities. he McFadden bill to amend the nu- snal hank and federal reserve acts ordered favorably reported today | House b king committee, bill introduced by Chairman | f committes would | he right to main- | branches in the eity in which | nt titution is located, pro- | anks have similar au- The committee, however, re- to give national state branch give national . tain he pa vided state thorit proposal or “wide population of 100.- al banks would be | ve an uniimited num- and to maintain two n §0.000 and 100,000 in citics of 25,000 tc none in cities under hking provisions in esigned to put national | ] s ter competitive basis | with state banks bill also provides of national bank uthori national banks to ) to fi ears, on real per cent of its actual for per- arters and Jen was instructed to ar- i early consideration of the o by the Hous: | LUMBER OUTLOOK SHOWN. Report for >Week Indicates Slight Gain in Prospect As reflected by comparabie reports ek f 383 of the larger mills of the country, the r movement was about Lumber as for the ations of a factors of As Manu s week with ind | slight in all three | production, shipments and orders. As | ared with the same week of | there « small increase in | setion, small decrease in ship- nts and a more noticeable decline | \ orders. "4'le unfilled orders of 263 southern | pine and west coast mills Were 595.- §44,446 feet, as against 633,476,296 for | the week before. Separately, the Southern pine group, 136 mills, ported uniilled orders as 254 feet, compared with 259,432,755 previous week: 127 west coast mills 4 unfilled orders amounting _to 11 feet us against 376,04 mills & week earlier. ' % ther the comparably mills had shipments of and orders of 37 per cent roduction. For the south- Crn'pine mills these percentiges were, eapeotively, 99 and,93 per cent, and - W ast mills 104 and 96 Of the comparably report- 362 (having a normal pro- ihe week of 226,177,653 ted production per ot normal, shipments 99 and orders S8 per cent it thereof e EMBARGO HITS TRADE. | safeguard Against Foot and Mouth Disease Affects Shipping. SAN FRANCISCO, Calif, April 25 (Special).—The embargo placed on Californi products because of the foot and mouth disease is making it- self feit seriously in both coastal and interooustal shipping. The California and Nevade wool clips usually ure started to the eastern markets about | this time by way of the canal ship |lines, The Nevada clip, amounting to | about 4,000,000 pounds, however, will be shipped by rafl, while the Cali- fornia fleeces will be heid up pending thorough disinfection, when they, too, will go eastward in freight cars. | "In the transpacific trade the em- | bargo against California products is chiefly the result of methods of pack- ing. Heretofore many &hipments have been incased in hay or straw. For- eign countries now prohibit entry of Zoods so packed, while Washington, Oregon and British Columbia have similar regulations. | = o | Before You Invest—Investigate. Ever notice that the fellows who try to get rich quick are slwaya broke? : MOTOR CO. HEADS CHOSEN. CLEVELAND, Ohio, April 25.—D. A. Burke, Cleveland, was elected president ' and general manager of the Peerless Motor CSar Company and Fred R. White, Cleveland, pres- ident of the Peeriess Truck and Mo- | shippers rates 4 to 13 1 | tions are | lakes, which prov | pect | these lines say, have di | not _expected | estimate INLAND WATERWAYS SHOW HUGE TRAFFIC Water-Borne Shipments for Year Likely to Surpass All Prior Records. GROWS DESPITE BACKSETS Floods and Ice Jams Add to Un- favorable Conditions. BY J. C. ROYLE. Special Dispatch to The Star. ‘W YORK, April Transporta- tion over the inland waterways of the country has been somewhat ham- pered so far this spring by weather conditions, which produced floods and fce jams. But the volume of water- borne trafic will be higher this year than ever before in the history of the country, the best informed shipping men agree. This fact will have a distinct bearing on the prices’ of nearly every commodity which enters an American household. So far as the shipping industry on the great lakes is concerned, various opinions e expressed about the business ex- pected. Last year tonnages of grain and stone broke all records, and some are inclined to doubt whether they will be as heavy this season. Ship- ments of merchandi nd manufac- tured goods, however, are certain to be heavy Pig Iron Slump Curtails Volume. The slump in the pig iron market is having a tendency to affect the vol- ume of iron ore shipn s, but it is expected, none 1t between 50,000,000 and 60,000,000 tons of iron ore will be carricd to in I1i; Indiana, Ohio and Pennsylvania. C shipments for the northwest have not st given indication of extreme size or urgency. Increased railroad rates are operating to the it of the ko freighters. whic re offering ent lower routes. A res ing made for the week- nger eruises on the great d a feature of the ason in the mid- than rail long pa: summer v t vear. River Whatever may the lakes, ion s Trafic Outlined. be the tonnage o there can be no doubt i to the volume of freight traflic on the rivers of the country. The river- Dborne traffic out of Pittsburgh for the first quarter of the vear exceeded that of the Panama Canal by more than 5.000,000 tons, while traffic on the Mo- by 1,000,000 Ly about lines through the Suez Canal tons and fell behind 1" that amount Arge the Ohio and on the water the gulf. The Atlantic passenger preparing to carry more Americar to Europe this summer t at i time since the American expedi ary force was sent to France. Tour- ist agencies here report that the ad- vance bookings have been enormois The normal summer vacation move- ment has been increased by the fict that the Olympic games will be held in Paris thissyear and that thousand will attend the conventions of the In- ternational Sunday Schools, the American Bar Association, the Ad Club and other national and interna tional organizations. Steamship com- panies are making a special drive to secure husiness from c who _exp abroad this Mississippi_rivers and 's from the lakes to liners are « preparation ound-the-world have grown so in popu larity ¥ that other countries are putting vessels on similar runs Offer Special Vacation Rates. teamship companies operating lines to Bermuda, Bahama. Cuba, exico, Central South America prepared to put special vacation ates into effect this summer and cx- to_handle a heavy volume of traffic. Tourists, passenger agents of covered that the summer in those localities offers equal attractions in the matter of cli- mate with the winter months, because the dry season is more pleaxant than the season of winter rains. The American St. Lawrence com- mission, appointed last month by President Coolidge to report on the project of opening the Great Lakes to ocean-going #hips and developing | the waterpower facilities of the river, has gone briskly to work, but a finai report as to whether the enterprise should be undertaken at present is for some time. It is the total cost of the im provements of the St. Lawrence route would be $252,728,200. | PORT FACILITIES NEEDED. Effort Made for Opening Fort Mec- Henry Immigration Depot. BALTIMORE, April 25 (Special) As a means of attracting more ships to Baltimore. the Port Development Commission is to revive the effort to have the immigration depot at Fort McHenry opene: t was completed in 1917 and has since been used only for offices of the local immigration authorities Vessels carrying immigrants seek | berthings at ports where there are depots for receiving the aliens, it is said, and the local port loses ship- Ping on that account. Further restriction of immigration, it is said, may make it inadvisable, in the opinfon of the federal officiale, to open the local depot. -— COFFEE RALLIES BRIEF. Reactions in Prices Due to Selling by Importers. W YORK, April —Rallies were. followed by reactions in the coffee futures market yesterday un- der a little selling by importers and commission house liquidation, pro- moted by easler Brazilian cables. July eased off to 13.24 and December . “the market opening 5 to 10 Tower and closing at net de- 5 of 5 to 12 points. Sales were estimated at 22,000. Closing quotations: May, 13.73; July, 13.24; September, 12.56; Oetober, 12.40: December, 12.10; March, 11. Spot coffee ih moderate des nd; Rio 7s, 15 to 15%; Bantos 48, 18% (o 19%. Cost and freight offers ineluded Bourbon 3s and o5 at 18.50 to 19.50 L | Large Increase First Quarter, 1924. | | | | nongahela alone exceeded that passing | are | | now being added to the equipment on D. €., FRIDAY, BETHLEHEM STEEL INCOME, $10,549,149 Company President Regrets Lack of Constructive Legislation. By the Associated Press NEW YORK, April Net earnings of the Bethiehem Steel Corporation in the first three months of 1924, totaling $10,549,149, were the highest of any period since the second quarter of 1923, . Grace, president, announced but a temporary rccession in e sald, foreshadowed a le: orable showing for the current quar- ter. Total income for the first quarter exceeded the earnings of the preceding period by $614,062, with the surplus i approximately $700, “The ignoring by the present Congre: of the recommendations of the Presider supported by the peopie, for constructive legislation such as a proper revision downward of the war-time tax burden, is making business hesitate,” Mr. Grace “On_ the other hand, fund conditions are so sound th: c requirements alone are suf- ficlent to insure reasonably good times, provided business and the people can feel secure from radical and unsound legisiation. Steel 1 ated during ts of the corporation oper- | the first quarter at about | 74 per cent of capacity, Mr. Grace ex- plained, but due to the falling off in business since the middle of March the present rate operations hud been reduced to approximately G6 per cent. He e pressed belief that the decline in steel orders had about reached bottom, and that an upward turn due. The value of the Hethlehem Steel Corpor: tion's orders on hand at the end of the quarter was $49.846,000, contrasted with 5 000 on December 31, 1 had been ssions in § company’s preside quotations remained changed gular _dividends clared on common and preferred | cks of the corporation, and Harold | nley. president of the Guaranty Com- e FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE_ IN- VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. were de- —phase of our mortgage in- vestments most gratifying to us is the ever increasing de- sire on the part of our clients to recommend them to their friends. Our Investments Yielding 7% —cannot be too highly recom- mended. Write for Booklet Chas. D. Sager Mortgage Investments 924 14th St. N.W. Main 36 SAFETY FIRST Last and All the Time and 7% INTEREST -—on our First Mortgage Notes secured on improved real estate in the District of Columbia. 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