Evening Star Newspaper, June 13, 1924, Page 29

FIN LIVE STOCK PRICES * DROP IN DISTRICT Commission Houses Report Slight- ly Lower Rates on Calves, Sheep and Lambs. EGGS ON UPWARD TREND Vegetahle Market Reviewed by Agriculture Department. A change in the price of live stock Was noted on the Washington whole- sale commission market today. Top calves were reported at 8. Medium Erades sold for 7 and the best a poor calf could bring was 3 cents a pound. said. Spring lambs seem to left the 1i-cent figure, their price being placed by dealers at 13 and 14 cents per pound. Sheep and Poor calves were in about the same class, the former being quoted at 3 *to & cents per pound Eggs with jobbers, were understood to be as high as 31 cents a dozen for seleets, while 25 seemed to be a good price for siraight-run candled fresh eggs. From all indications, it is de- clared, the price of eggs is on the up- ward climb. Hens recovered the 2-cent figure after a weakening spell of a day or two: chickens were ranged from 40 o 50 and leghorns 30 to 35 cents a Ppound. The fresh meat market was in the Process of being cleaned up for the Week and it was predicted very littie Wwould be left by tomorrow afternoon. The Department of Agriculture’s Vegetable market report here follows: Apple Supplles Light. Apples—Supplies ligh mand light; market dull; Virginia and West Virginia. = inches up, Winesaps. 5.00a5 Ben Davis, 25043.00: boxes, #oderate: market stead ern, medium to larze si fancy Winesaps. 275a3.00. Supplies liberal; demand light; mar- ket fairly steady: Virzinia, Norfolk section. barrel crates. pointed type 1.30a1.50; home-grown, uncovered barrels,” pointed type, mostly 1.0 Cantaloupes—&upplies ' liberal; _de- mand light: market weaker; Cali- fornia Imperial Valley, Salmon Tints standards. 5 2.50a3.00, .25 extra 58, mostly 1.50. light: demand Georgia. 6s. : mostly orth Carolina, 65, May- some soft, wasty: best, 1.25a2.00. Potatoes—Supplies moderate: demand moderate; market fairly steady: Michigan, 150-1b. sacks, Russet Rurals, U. S. No. 1. 3.00a3.23 ner sack. new stock, supplies heavy dsmand moderate market weaker: North and South Carolina, cloth top slat barrels, Irish Cobblers. U. S. No. 2.00a3.50. Tomatoes—Supplies mod- good stock scarce: demand market dull; small size zood for good stock: market steady; | ¥lorida. choice fancy 6s ripes, wrapped. \ount, 2.00a2.50: some wasty, and choice count, 75a2.00 Strawherry Reeeipts Woderate. Strawberries — Supplies moderate, homegrown: 32-quart crates, various varicties, 3.00a4.50. mostly around 4.00. Watermelons—Supplies light: demand limited: mark steady Florida. Tom Watsons, 27-28-pound erage. T5al.15 each. String beans— Suppli liberal: demand limited; market steady: North Carolina, bushel hampers, green, 1.00a1.50, mostly 1 some refused: Virginia Norfolk se tion, 5-peck hampers, gre mostly 2.00a2.15. Peas sreceipts light: supplies ligh mood: market steady: homegrown, harrels, la and small pods. 5.00a 10.00. ' Cucumbers—Supplies liberal; demand light: market dull: South Carolina and Georgia. bushel ham- pers. No. 1, 1.00a1.50. few 1.75. some refused: Virginia Norfolk section, bushel hampers. hot-béd stock. faric 2.00; choice. 1.25al.30. Dewberries- Supp! moderate; demand good market steady; North Carolina, 32- quart crates, 3.30a4.00, few higher, some ordinary quality and condition as low as 2.50 Cars on Track at & a. m. Todny. Express receipts late. report incom- plete. Beets—102 crates Virginia boat. Cabhage—I79 cvates Virginia hoat. Cantaloupes — 2 Clifornia ‘reight. 8 broken and 2 unbroken cars on track. Carrots—!s1 baskets Vir- - boat. Caulifiower—2 crates Cucumbers—20 crates a express. 12 crates Vir- n hroken cars on track. Let crates Virginia boat Mixed vegetable broken and 1 unbroken cars on track. Mixed fruit —2 broken cars on track. Lemons—?2 cars on track. Onions—I broken and 2 unbroken cars on track. Ofan; California, 1 Florida freight, 5 broken and 1 unbroken cars on track, Peas—2 baskets Vir- Zinia boat. Potatoes—1 Michigan, 1 North Carolina, 5 South Carolina freight. 75 bavrels Virginia, 1,403 barrels North Carolina boat, 14 brok en and S unbroken cars on track. Strawberries—85 crates North Caro- lina expre: String beans—8 bas- kets South Carolina, 7 baskets North Carolina express. 383 baskets Vir- minia boat, 2 broken cars on track. .Tomatoes—200 crates Florida ex- press, broken cars on track. Peaches —-1 Georgia freight, 256 crates North arolina, 30 crates South Carolina ex- press. 1 'broken car on track. Dew- berries—$ crates South Carolina ex- press . demand WOOL MARKETS DEAD. RBOSTON, June 13 (Special).—The Summer street raw wool markets continued dull today, with hardly enough business going on to estab- lish quotations. ‘ihe-new clip west- ern wool is arriving in large quan- tities. but mills are showing little eagerness to buy it. RAW SILK GOES HIGHER. NEW YORK, June 13 (Special).— The raw silk markets again con- tinued their upward course today, prices advanced another 5 to 10 cents a pound on Japanese grades and Can- tons showing in the general im- provement. Business was fairly brisk. The cotton goods market con- tinued quiet mostly at unchanged price levels. Print clath quota- tions were 9 cents for sixty-four by sixty ‘dnd 10% for sixty-eight by seventy-two. PAIGE VOTES DIVIDEND. DETROIT, June 13.—A dividend of 3 per cent on common stock was de- clared by the Paige-Detroit Motor Car Company at a meeting of the directors yesterday. The dividend is pavable July 1 to stockholders of record June 20. The regular quarter- 1y dividend on preferred stock also ‘was declared. COAL PRICES LOWER. PITTSBURGH, June 13 (Special).— Slack prices are easier in the coal market here, with steam grade down to $1.20 a ton and gas slack at $1.30. Mine run_prices are generally un- changed. Hand-to-mouth buying con- tinues, with little prospect for early improvement. - e S PARIS BOURSE HEAVY. PARIS, June 13.—Prices were heavy on the bourse today. Three per cent rentes, 53 francs 65 centimes; ex- change on London, 80 franes 60 cen- times; 5 per cent loan, 67 francs 80 centimes. The dollar was quoted at 15 francs 57% centimes. TODAY’S BUTTER PRICES. CHICAGO, 13, — Bll:t':ll;d— Steady: creamers ! £ Ardsfh:‘is; extra firsts, 38a38%; firsts, 36%237%; seconds, 33a35%. " Bees — Higher: receipts, ~ 21.074 casesy firsts, 25a25% ; ord Tirsta; 23 % storage pack extras, %, Lrata-idy i northwest- | | Potomac Kiee. NCIAL Received by Private’ Wire BY WILLIAM F. HEFFERAN. NEW YORK, June 13.—From the action of the curb market today the conclusion was drawn that liquida- tion was in progress in various groups under cover of the bidding up of « few specialties. Traders were not disposed to come into market on the buying side of the oil shares, but were inclined to be free of commitments, awaiting more definite information concerning the outlook for the industry. Belief prevailed in most quarters, however, that further cuts in crude and refined oil are unlikely at the present. The active leaders of the standard group moved over a narrow Tange and were lower most of the session. Trading in the independent NEW_YORK, June 13.—Following is an official list of bonds and stocks traded in on the New York Curb Mar- | ket today: Sales in thousands. |1 Altied | 1aniea & Alom 1 Alum 7x new 28 Am Gax & Elec 1 Am Roll R Anaconda Aoglo Am Tie Antilla " Sugar Tlgs. | Axo Sim Hdw flgn ALG&EWIRS BONDS. High. Low [ Mills 6. 6s . 0il n Nat Ry Equ 25 Childs & Co_6s. . A 1037 Tonss T 102 9ty 1011y 1y 10135 1081 4CP & B Mi8lgs A 2 Cudaby Sts ... 9 Deere & Co Tigs S Dunlop T & R 12 Dug Lt Pi 5las B wi 46 Federal Sugar 8s ° i Fisher Rody 68 ' 14 Gair, Robt 7x 13 General Pet fe. .. 38 Intrn Match 8lan wi 4 Kana City Term 5izs Kennecott Cop 7n Lehigh Power e Ih VI Har Ry 5s wi Libby. McX & L 7a. Morris & Co Tham t Leather S e Orl Pub Ser 5% §NYC & SIL 36 A wi 11 N States Pow 6las Nor Xtates Pow 6l B Obio Power 3% 16 14 Park & Tilford 6 3 Penn Tower & Lt o 11 Phila Elec 6. 2 Phila_Elec 5lx. .. 26 Pub Sery of X i '7a & 1 3 3 Stand Ol N Y 8lax Swift & Co Bx.. nEL&P i R Tnion 01l 6 B 2 1 Toited 0il Prod Uni Ry of Hav Tiys 108% enuin_ 0l 78 1071 Webst Mills Blas wi 1028 FOREIGN BONDS. 1 Italian Power Rlos.. fN3, 12 King of Nether bl D Ruse Gov Blas mt of 12 2 Rolvay & Co Bs Ms B 100 n0& B Swise Gost Slas ... 100 100 STANDARD 011 188VES o | sales in units. 100 Anglo Am 0Nl ... 100 Chese Mfg new wi. 10 Eureka P L. 4 20 Gal 8ig 101 P L. 200 Tmp Ol of Can ... 1200 Iatl Pet Co Ltd 10 Magnolia Pet 460 Ohlo Ofl_new rairie 0l & 160 Prairie P I 10 Solar Refin 0 South Penn O3 7100 & O Indiana 100 & 300 & 90 8 O Nebraska 1% a0y 9% 100 m 15 S015 96 1001, 131 i pfd new 900 Vecunm . 0il Sales INDEPENDENT OIL STOCKS. in handreds. 1 Ark ) 3 Carib Synd Iy Cities Berviee . $1.000 Cit_ Service serip. 19 Creole Srnd ...... 40 Ertel 0il 134 K181 51 5 Livingston Ter Mount Washington Stock Exchange. SALES. ¢ ationai Mortgage and Investment pfd—40 at R, AFTER CALL. Money—Call loans, 5 and 6 per cent. Bid and Asked Pricgs. BONDS. PUBLIC UTILITY. Bid. American Tel. & Telgn. 4a...... 95% American Tel. & Telga. 4%u.... 102 Am. Tel. & Tel ctl. . 5 Am. Tel. & Tel. coov. 6. Anscostia & Potomac 5s. L ey Anacostia & Potomac guar. ba.. K8, C. & P. Telephoae b ve W C. & P Telepbone of Va. 5s... Capital ‘Traction R. R. 84.... Georgetown' Gas 1st 3a.... Metropolitan R. R. 3 1at Se. Potomac Eiec. cons. Potom: Potor Pot. Elec. Pow. b, Alex. & h.. Alex. & Wash. Rwy. & Elec. du... MISCELLANEOUS. D. C. Paper Mfg. 6s.... Riggs Realty o5 (long| Rigks Realty 5s (short) Kouthern Bldg. 6%, o) Wash. Market Cold Storage 5x. 92 Wardman Park Hotel 6s........ 8 American Tel. & Tel. rights. 3y STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital - Traction.... hington _Gas. a1 N 4= 2167 Terminal Tazt com.... 125 NATIONAL BANK. 25 T T * 163 Capital .. Columbin Commercial District . % Farmers & Meehanics’ Federal-American Liberty Lineoin National Riggs Becond Nationa EELE ] shington. TRUST COMPANIES, American Security & Trust. Contipental Truat ants’ Bank.. . ) Savings & Trost.. .10 SAVINGS RANK. Commeree & Savin Kast Washington... Security Savings & Com... fl’mlb Street. ;lfl“ States. ‘ashington Mechanics FIRE INSURANCE. sBided ¥alEal American Coreoran Firemen's 1.1 National Unfon.. . TITLE INSURANCE. Columbia Title.. Real Eetate Titie. 25 National Mort. & Invest. 0ld Duteh Market com. Old Dutch Market comm, 0ld Duteh Market pft Lanston Monotype. - Security St w §88ni00 | | > ! n, Cons (o : Cortez. ¥ A ek ! Diamondnd Ik B SN G o Hardahell Min Hawthorne M Tac.. (87 } Hevia Mine . Fiowe Sound Independence Lead 3 Cons g Kas Copper Cory Aineon Vel b Noweraes iae NEW YORK CURB MARKET Direct to The Star Office shares days. The radio group. stood out strong- est. Dubilier established the cus- tomary daily new high record. Ha- zeltine Corporation ran up s point to a new top, and Radio Corporation issues were active again. Prevailing low money rates appear to be the incentive for buying in a few high-grade public utilities of the type of Electric Bond and Share pre- ferred and Tennessee Electric Power second preferred. Lehigh Power at 69% gained 2 points, and Adirondack Power responded to the favorable showing in the report on operations in May. Renewed was smaller than in many interest in Centrifugal Cast Iron Pipe at fractionally higher prices was coincident with the up- turn in Cast Iron Pipe on the stock. exchange. Lehigh Valley Coal cer- tificates attracted considerable ; ak- tention, getting up 2 points. el 3 1 New Eng Fuel Oil. ew Mex Land Paer Oil Corp. . Penn Reaver OIl. Pennock Ol . Red Bank O new Itoval Capad O & R Ryan Oon ........ Salt Ck Prod .00 Sapulpa Refin . Tidal Osage Oii. cox Ol & Gax Woodley Pet R AT INDUSTRIALS Sus—Bas IEEE FF E Adirondas Alum_ My Am Cot Am G & Am 1 & Appaisc Pow & Lt Rorden & Co r Brit-Am Tob Candy Prod Cor wi Cap Light ........ Coherit®Tron Pipe Childs Co new wi. Co wi 265 MYy & 123% & ofd E_new wi Tract.. abric ‘o JDoehier D € Dubilier C & Radio_ Du_Pont Motors. . Bast Penn Blec Bond & Sh pfd 1021, ¥ & W Grant Str wi Gillet fety Raz tilen Alden Coal.. Goodsear Tire . Griffith, D W Hall Switch & Sig. Hall Sw & Sig pfd Hay T Co of 1 wdi 5 Hazeltine Corp w | Hud & Maon RR Hudson_Co pfd Contl_Rubber tone Solethe Power Val Coal Flec 5 19 4% 2% E a91s Ty 1 new 34 new 4 an 20 & L Tron Midvale Co ..0o.. Tea Co new wi 161 NY Teie Co pfd. 110 Patten “Typewriter - 1 Radio Corp ... 4t Radio Carp pfd i Reo Mot 18 Sil Gel 21 0 o & 1 Switt & €o ooy, Pr vt ofs new ower ow 2 pf & Co vie 1% Pr Exports 4% bide ... STl eries w0x, 4 Kakeries pfd 881 Ward fin it Ward Bk Ward fak Yol Taxi com X ¥ MINING, Block Ok Gold Ms Butte & Western Calaveras Copper anariy Copper Cent Amer Lines Mns new ~BRRLARLED R F Nevadu Hills Min hio Copper Plymouth Lead M Premier Gold Min Red Hill Florence Red Warrior . Rocky Mt S & Ref Rocks Mt 8 & R pf Silver King Div M Temiskaming Mines % Tono Belmont United United Verde Bxt.. 5 #3kE 7 10 U S Contin new wi 1 Unity Gold ,...... # Wenden Copper .. 1 Yukon Gold CHICAGO GRAI CHICAGO, June 13 —Notwithstand- ing a downward tendency today at the start, wheat soon scored fresh gains in price. Initial weakness was ascribed to sympathies with declines at Liverpool, but this factor was quickly offset by an advance at Win- nipeg, and with fairly active buying here the ascent sumed. Word that spring wheat acreage in Minnesota was the smallest since 1872 helped to encourage bulls. Open- ing prices ranged from % to % cents lower, with July, 1.10% to 1.10%, and September, 1.13% to 1.12%, but the ensuing advance carried the market well above yvesterday’'s finish. Corn and ‘oats rallied with wheat. After opening % to % off, July, 80% to 80%, the corn market made smail gains. Oats trading began at a shade to i advance, July, 47, and then prices hardened a littie more. Higher bear quotations on hogs gave firmness to provisions. WHEAT— July . September December CORN— July September 111 December . OATS — July . September December LARD - July . December of values was re- 10. . 10.50 10,85 1080 BIDS ASKED ON VESSELS. PHILADELPHIA, June 13 (Special). —The Baltimore and Philadelphia Steamship Company has asked bids for construction of two new vessels to joperate through the Delaware and Chesapeake canal as soon as that waterway is navigable. Plans have 10. 3% ! been prepared for four other new Steamers, CALL MONEY EASIER. NEW YORK, June 13.—Call money easier; high, 2; low, 2; ruling rate, 2; closing bid, 2: offered at 2%; last loan, 2: call loans against acceptances, 1. Time loans easy: mixed col- lateral, sixty to ninety days, 3%a 3%: four to six months, 3%; prime commercial paper, 4 JMETAL QUOTATIONS. NEW YORK, Jtune 13.—Copper easy; - electrolytic, spot and futures, 12%al12%. Tin firm; spot and futures. 4250, Iron steady’ and unchanged. Lead quiet; spot, 7.00a7.25. Zinc quiet: Iast St. Louis, spot and near- by, 5.85. Antimony, spot, 8:35. S I T -DROP IN FREIGHT TRAFFIC. NEW YORK, June 12.—Loadings of revenue freight for the week ending May 31 totaled 819,904 cars, a de- crease of 95,309 cars compared with the preceding week, due in part to the oblervance of Memorial day, the American * Railway Association re-. ports, and a decrease of 112,780 under the corresponding week last year. SHOE PLANT RUSHED. NBW YORK, June 13.—The Endi: cott-Johnson Corporation has been producing about 550,000 pairs of shoes a_ week since the first of the year, which i# 85 per cent of it best record. Orders received from January 1 ex- ceeded those of the same perlod last year, It is estimated pairs for the six monthy of 1924 will reach 33,000,000. —_— Roller bearings are used on the trains of the Swedish state railways, the . railroad company. in ‘woeld to adopi, them, : VALUE OF EXPORTS DOUBLES IN $0-YEARS b Fiscal Year Figures Reveal Mark- ed Increase in Goods Shipped IMPORTS ARE FALLING OFF Fami‘rflznmiun for Ten Months Worth $1,763,000,000 to U. S. Spacial Dispatch to The Star. NEW YORK, June 1—Increased ex- ports and decreased imports are the chief characteristics of the foreign commerce of the United States in the fiscal year 1924, which ends with the current month, June. Exports show increases in manufactures and manu- facturing material, but a sharp fall off in foodstuffs, especially grains. Imports show a reduction in manu- facturing material, but a slight in- crease in foodstuffs and manufac- tures. The excess of exports over imports will approximate $700,000,000, against but $176,000,000 in the fiscal year 1923. All these estimates, says the Trade Record of the National City Bank of New York, are based upon the latest official figures, those for the ten months ending with April, which show a fall off of 3% per cent in imports and in increase of 14% in exports when compared with the cor- responding months of the immedi- ately preceding year. Ahead of Pre-War Records. These figures for the fiscal year 1924, says the Trade Record, are es- pecially interesting in the opportunity which they give to compare our pres- ent trade with that of a decade ago, the year immediately preceding the war. The fiscal year 1314 ended but a few weeks before the opening of the world war. The imports of that year were $1,894,000,000, while those of 1924 seem likely to approximate $3,620,000,000. The exports of 1914 were $2,36 000,000 and those, of 1923 seem likely to 'approximate '$4,360.000,000. The excess of exports ‘over imports in 1914 was $471,000,000. and in 1924 will apparently exceed $700,000,000, though all of these estimates for 1924 are necessarily based upon ten months' official figures now available. Meas- ured in prices of today the value of the 1924 imports seem likely to ex- ceed those of 1914 by about 90 per cent, and the exports an increase of approximately 84 per cent. The ex- cess of exports over imports seems likely to be more than in any pre- war vear and four times as much as that of the fical vear 1923 when it stood at $176,000,000. Foodstufls Show Decrease. The striking feature of the record which ends with this month is the increase in exportation of manufac- tures and at the same time a fall off in the importation of manufacturing | material. “The chief decrease in im- ports of manufacturing material oc- curs in_silk, cotton. hides and to- bacco; the chief increase in manufac- tures ‘exported occurs in machinery, automobiles, lumber, iron and steel manufactures, copper, tin plate and agricultural impleman The fall off in the value of food- stuffs exported occurs in the grains. wheat, corn, rye, barley, oats and rice, all of 'which show a reduction in both quantity and value, while meats as a whole show a slight in- crease over the corresponding months of last vear. Exports to all of the grand divisions show increases. those to Europe a gain_ of $140,000,000, to a and Ocenia $156,000,000, and to orth and South America $47,000,000. Perhaps the most striking feature of the record of the year is the fact that the total value of manufacturers exported seems likely 1o be practi- cally double that of a decade ago. The ten months for which official figures of 1824 are avajlable show the total ue of manufactures exported at $1.763,000,000 against $920,000,000 in the same months of 1914. —_— BUSINESS TURN SEEN. Low Stocks Will Force New Buy- ing Before Very Long. Special Dispateh to The Star. BALTIMORE, June not lacking here that slon has about run its course. This does not mean that leaders of in- .dustry expect a quick recovery. On the contrary, they look for quietness to continue in most lines for some time vet Theyr point out. however that business in general has reached a replacement basis. Consumption of goods continues and makes replace- ment necessary. There is some reason to believe that reduction has been scaled down to a point below the current con- sumption rate in several lines. At the worat, then, surplus stocks will not last Iong, unless there is a sharp drop in consumption, which appears unlikely, business men say. I. C. C. REPORT SCORED. Kl'nm City Southern to Take Val- uation to Courts. NEW YORK, June 13.—Dissati with the Intermate Commaree Corn: mission’s valuation of $49.016.268 up- ©on its properties as of June 30, 1914, the Kansas City Southern Railway Company will contest the report In the courts, Samuel W. Moore, general ¢ounsel, announced today. “The company’s evidence In the proceedings indicated a valuation in 1914 of $30.000.000.” Mr. Moore said. “In the ten years since there has been a considerable increase in value S0 the valuation at this time should be Considerably in excess of that . certainly not less < ey than $100, “Officers of the railroad feel the commiskion’s valuation, 1f oeat mitted to stand. inevitably will re- sult in confiscation on a large scale. It is believed that the methods of valuation applied are in sharp con- flict with economic - principles and with rules laid down by the courts for valuation of railroad properties. _— CHICAGO LIVE STOCK MARKET. CHICAGO, June 13 (U. S, Depart- ment - of Agriculture).—Hogs - He- celpts, 24,000 head: desirable grades fairly active; mostly 10 to 15 higher: light lights scored 15 to 25 advance. others slow: big packers talking steady; bulk good and choice 250 to 340 pound butchers, 7.20a7.30: top, 7,35; bulk Dbetter grade, 160 to 225 pound weight, 6.85a7.15; bulk desir- able 140 to 150 pound kinds, 6.40a6.755 bulk packing sows, 6.35a6.55; killing pigs strong to 2 higher: g00d and choice, ~strong weights, la; 5.90a6.15. gt Bulk of sales, 6.85a7.30: top, 7.35; heavy weight, ' 7.10a7.35: medium weight, 7.00a7.25; light weight, 6.75a 7.20; light lights, 5.75a’ packing hogs, smooth, - packing hogs, . rough, slaughter Pigs, 5.3526.25. - Cattle—Receipts, 4,000 head:. beef steers . and - yearlings uneven; gen- erally steady at week’s deeline; kill- ing quality, plain, bulk, 3.0029.75; few “loads, 10.00a10.25; choice, $40- pound yearlings, 10.50; some matured steers held above 10.50; she stock and bulls, slow, weak; spots lower; vealers weak to 25 cents ‘lower: mostly 9.50a10.00: few choice kind to outsiders upward to 10.50; stockers and Jfeeders very scarce. - Sheep — Receipts, 13,000 head; activi fat spring lambs fully steady; culls around 50 cents lower; sheepsteady; fed -lambs scarce; no early -sales; bulk desirable native springers, 16.00a16.25; sorting mod- erate; cull springers, 10.50a11.00; early sales range .lambs, 17:00 ndweight fat ewes, prime two-year-old 13.—Signs are trade reces- B g £ FRIDAY; JUNE 13, 1924 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY, MONETT, Mo., June 13.—The re- turns from the strawberry auction sales here this season up to June 8 amounted to $1,132,000. The sales have yielded from $30,000 to $120,000 & day. They have been,conducted by co-operative fruit% growers' associ tions. WINCHESTER, Va., June 13.—Boyd C. Richards, apple grower and export- er, just home from abroad, stated to- day that all foreign markets shortly will accept only officially inspected and passed fruit from America. LOS ANGELES, June 13.—Eighteen of the thirty-four new wells started last week were located In the Tor- rence fleld. Return of activity to the Kern County field is indicated by in- auguration of work on six new wells. ST. PAUL, June 13.—Reduction in the estimates of the Minnesota wheat crop. which makes it the lowest crop since 1872, is attributed to reduction of acreage, as the condition of wheat is satisfactory. The estimate is for 16,000,000 bushels, or less than half the five-year average. BOSTON, June 13.—The oversupply of lettuce’ this season has brought prices 5o low that growers may aban- don their flelds. Prices quoted at 25c & box of eighteen heads. Some farm- ers are feeding lettuce to farm ani- wals. CHICAGO, June 13.—Automobile dealers here report new car sales on a par with a year ago at this time and sales gradually increasing with warm weather. Used-car situation, however, is reported as dragging. , B RAILROADS TO SHARE CONTROL OF COAL LINE Coast Line and L. & N. Will Take Over Management of Clinch- field Railway. The Atlantic Coast Line and the Louisville and Nashville railroads have been given authority by the In- terstate Commerce Commission to ac- quire joint control of the Carolina, Clinchfield and Ohio railway and its subsidiaries by lease Authority also was granted for them to assume the obligation as lessees of paying as rental for prop- erty rights and franchises of the Clinchfield system. amounts equiva- lent to dividends at certain ratcs upon $25,000,000 of common capital stock, and interest on certain bonds and equipment obligations amounting to $28.292.000, now outstanding, .. upon $1.500.000 of Holston Corporation 5 per cent realty and collateral trust convertible notes. The acquisition was opposed at the hearing before the Interstate Com- meree Commission by the Seaboard Air Line railway. the receiver for the Georgia and Florida railway, the Piedmont and Northern. and repre- sentatives of commercial organiza- tions in the southeastern and seaboard states. 1t was supported by the Charleston and Weste.a Carolina Railway Com- pany, and representatives of civie bodies in territory served *by the ap- plicants. Governors and railroad com- missions of Florida, Kentucky and sissippi approved the proposal. In granting the application commission said: “Tt appears that the primary object of the L. & N. in acquiring control of the Clinchfield and making the proposed connection is to relieve an intolerable car supply condition said to exist on its Lexington and Eastern line to McRoberts and on its Cum- berland Valley line in southeartern Kentucky. —_— MAY EXPORTS INCREASE; IMPORTS SHOW SLUMP Merchandise Sent Abroad During Eleven Months Also Re- veals Gains. the Merchandise exports from the United States for May were valued at $336.- 000.000, against $316.359,470 for the cor- responding _month last vear. Tmports totaled $305.000.000. against $372,544,- 578 % Exports for the eleven months ending May, 1924, were valued at $4,005.769.525, against $3.636.776.420 for the corre- sponding period of 1923 Imports for the eleven months were $3,282.206.631, against $3.460,723.166. Exports for 'May exceeded imports by $31.000.000. while imports exceeded ex- ports for May, 1923, by $56,185.108 Imports of gold for May were valued at $41,078.650. against $46.166,195. Ex- ports were $593.290, against $824.444. Silver imports for May were valued at $5.639,582, agninst 34,461.146. Exports were $9,686.517, against $3,499,358. MUCH MORE GAS USED. Baltimore Industries Taking Less Electrical Power. i ‘Bpecial Dispatch to The Star. BALTIMORE, June 13.—The per- centage increase in the number of cubic feet of gas used for industrial and commercial purposes during first four months of this year was nearly double the percentage of decrease shown in the number of kilowatt hours supplied to industrial users of electric power. The figures, an- nounced the May report of the in- dustrial buredu of the Baltimore As- sociation of Commerce, also show that April of this year shows an increase of 7.58 per cent in gas consumption as compared with the corresponding month of 1923. et D O TS GRAIN AND PROVISIONS. BALTIMORE, Md. June 13 (Spe- clal.)—Potatoes, whife, per 100 1bs.. 75a2.00; 150-1b. sacks, 1.50a3:50; new bbl. 2.0085.00; beans, bu. asparagus, doz., 1.80a4.00; iima beans, bu., 4.00a5.00; beets, 100, 2.0028.00; Kale, bu., 50260; ‘carrots, bu. cucumbers, crate, 25al.25. corn, crate, 2.00a3.50; egg plant, crate, 2.0084.00; lettuce, bu:, 50a1.00; 'spring onions, 100, 1.25a1.75; peas. bu., 2.35a 2.50; peppers, crate, 2.0023.50; spinach, bu., 50a76;-radishes, 100, 1.00a2.50; squash, basket, 1.50a2.00; tomatoes, crate, 1.0083.75. Apples, packed, bbl.. 2.50a5.00; bu., 1.00a1.75; box apples, 2.50a3.25: grape- fruit, box, 1.2583.25; oranges, box, 4.0024.76: strawberries, quart,’ 7al8; peaches, crate, 1.5023.00; cantaloupes, crate, 2.75a8.75; pineapples, crate, 2.50a3.75. Settling Prices on Grain. Whegt—No. 2 red winter, spot, 1.15% ; No. 2 red winter, garlicky, do- ‘mestic, 1.15%: no quotations on No. 4 or 5 red winter, garlicky. Sales—None. Corn—Cob; new, 4.25a4.30 per bar- rel for yellow and 4.10a4.15 per barrel for white; No. 2 corn, spot, 87%; No. :'l 84%; track corn, yellow, No. 3, 30a Sales—None. Oats—No, 2 white, §9; No, 3 white, new, 58. 70a75; No. 2, rye, Rye—Nearby, Hay Receipts, 116 tons. Receipts spot, 83 of hay are more liberal and the.tone of the market is easy under accumu- lations on spot, Market on unsound and oft-color hay is weak and hay of this sort is hard to move, even at sharp discounts. Quotations—No. 1 timothy, 29.50: No. 2, 28.5029.00; No. 3 timothy, 26.00 clover, - mixed, 227, i) 27.50a28.00; No. 2 light clover, mixed. clover, 34.00825.00, , Straw: .~ 1 straight rye, 23.0 24.00 per e, 18.00 220.00; No. 1 wheat, 1% oat, 1650817.00, gl 25.00026.00; No. 1 cloyer. mixed, 2700 i Xo. 1 tangled 7 ; No, 1 AUTO MAKERS PLAN CAUTION IN OUTPUT Already Consider Preventing Overproduction of Machines in Next Years Campaign. PRESENT SALES ARE HEAVY Several Concerns Report New Rec- ords—Bigger Ford Plant. . BY J, C. ROYI Special Dispatch to The Star. NEW YORK, June 13.—The auto- mobile manufacturers who began this vear leaning forward in their anxiety to have enough cars probably will be- &in 1925 leaning back in an effort to avoid having surplus machines on their hands. It is generally agreed that the automobile companies are not likely to enter another winter manufacturing campaign similar to that of the period just passed. The theory that sales were lost in large numbers in past vears owing to inability to deliver cars in April, May and June was pretty thoroughly punctured by experiences this spring. Sales analysists now admit that the public is likely to rush in and d mand cars when they are not plent ful,.but will hold back orders when they know that every maker has am- ple stocks on hand. Next spring there is going to be careful guard against overproduction, and as a result there may be another so-called shortage. Production at Low Level. While the production end of the au- tomobile business in May and so far this month fell to what will probably prove to be the low leyel of the year, sales of cars at retail in many sec- tions during the last six weeks have shown a decided increase over April The discrepancy between production and sales represents the reduction in stocks of cars manufactured earlier in the year and means a gradual return to normal Had retail sales declined along with production, there might have been something for the automobile men to worry about, but as matters stand, nearly all the more prominent companies are now near normal as between the number of cars on hand and in possession of dealers. Finan- ciers closely allied with the industry feel that this indicates production shortly will increase to care for late summer and fall demand and for the making of new models. Records Salex in Michigan. Total retail sales in Wayne County, Mich., of which Detroit is the cen ter, amounted to 5607 in__May. This compares with sales of 7,757 for May, 1923, which was the previous high record month in that locality For the five months up to June I. de- liveries in Wayne County were 34,822 as against 27.242 for the correspond- ing period of 1923, This county is mentioned because practically every prospective car buyer in it is in ther- ough touch with the trend of auto- mobile output and prices Dodge Brothers' retail deliveries in May totaled 23,297, as compared with 20,570 a_ year ago. This was the jargest May business in the history of the company and stocks are lower than at any time since volume pr duction was started. May retail de- liveries of the Paige Detroit Motor Car Company amounted to 5,294 Paige and Jewett cars. as compared with 4,800 in May. 1923, The total sales of the company for five months amounted to 18,850. s against 17.806 for the corresponding period of last vear. The Ford Company has let the con- tract for a new assembling unit at Dallas, which will bring the plant there to 105.000 cars and trucks a year. The Ford concern has reserve timber supplies at L'Anse, Mich amounting to 36,000,000 feet, of which £3.000,000 feet are already cut. The Ford 'mill is sawing 150,000 feet daily. A place has been made for Edsel Ford on the board of the Na- tional Bank of Commerce of Detroit by increasing the number of di- rectors to nineteen. DAIRY PRODUCTS. BALTIMORE, June 13 (Special).— Live Poultry—Spring chickens. pound. 35a45; leghorns. S: old hens, 22a 27; leghorns. o : old roosters, 15a16; ducks, 15a22; spring, 28a30; pigeons, pair, 45a50. EgES (loss off)—Native and nearby firsts, 27 dozen; southern, Butter—Creamery, good to fancy, 38a43; nearby creamery. 34a3s: prin 43a45; ladles, 28a31; store RUBBER IMPORTS SLUMP. NEW YORK. June 13.—Imports of crude rubber into the United States in May declined to 23,814 tons from 42.436 in April and 184 in May, 1923, the Rubber Association of America reports. Imports for the first five months of 1924 were 137,476 tons, against 157,105 in the corre- sponding period last year. SEES STIFF COMPETITION. NEW YORK, June 13.—A stiff com- petitive fight between British and American automobile manufacturers after the reduction in the tariff on motor cars imported into Great Brit- ain goes into effect August 1 is pre- dicted by Alvan MacAuley, president of the Packard Motor Car Company. The price of American cars in Eng land will be reduced at least 20 per cent, putting them on a parity with ny British cars, he said. WE FINANCE Hotels, Ete. Higbie & Richardson, Inc, 816 15tk St. N.W. Begin Today To Lay the Foundation For Your Financial Independence— Start Buying First Mortgage Notes— You Can Do So i With $10.00— They Pay 6% & 7%— No Risks— No Losses— . No Depreciations— No Delays. Mortgage Tnvestment Dept. 713 & 71514th St. NW. FINANCIAL EQUITABLE Co-Operative Building Association Organized 1879. ! 44th YEAR COMPLETED 5%%% Money to Loan on Business Property W. H. Saunders Co., Inc. 1433 K St. N.W. Py day save part of vour earnings and join the Equitable. ubseription for the Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, See’y. Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission 420 Wash, Hids.. 9t . & Trnet &F N W Wash., D. ¢, June 10, ‘24 Pay to the order of Mrx. Thrift $35.00 for months' interest due June 10, 1924, on first mortgage note purchased through our Mortgage Department. & ESTATE - NOTES FOR SALE Any Amounts This is a facsimile of the many Checks leaving our office daily to investors in our 7% First Mortgage Notes (23 Note the date due and time sent.) Once vou invest iri first mort- gages no other form of investment will appeal to You. Send for com- plete details. Netes mow on hand $100 up. Chas. D. Sager 924 14th St. Loan Dept. Loan Department GARDINER & DENT, Inc. 1409 L Street N.W. Main 4884 BERT DENT 38 Presidont B R HEROLD HAYNES Manager of Louns The Increasing Value— of the well located land and improvements which secure these 6'29% First Mortgage Investment Notes is an additional as- surance to you of absolute safety on your money invested. Denominations as low as $100 WA Lonstructio INC. MAN rany Main 3530 YOUR SAVINGS In Qur FIRST MORTGAGES “The Safest Security on Earth” 7T s Denominations $100 to $10,000 JMORRIS CALRITZ CQ 1418 K Street N.W. Main 617 Northwest Residential and ‘Business Property Only - THE TIME IS RIPE INVESTORS two essentials of safe invest- seeking these ment — (1) Absolute Safety and (2) High interest return —should follow the example of many,. who are buying our . FIRST MORTGAGES now, while the rate of interest is'7 per cent. B. F. SAUL CO. - 1412 Eye St. N.W.