Evening Star Newspaper, January 16, 1925, Page 25

* BUYING INPROVES ATCENTER MARKET Meat and Poultry Feature , Early Trade—Prices Re- I main Steady. More me: mo active buying, especially of and poultry, featured the early ning market. The activity, ac- cording to dealers, was due to yes- terday being pay day. Pork products were In greater demand than other meats, dealers stated, and the mar- ket was easler, although there was) not much change in prices. anxfously awaiting the of snow and ice from and roads, and not until then do they expect the demands for most commodities will be great. Today’s Wholesale Prices. Butter—Fancy, tub, 47a50; prints, €0a62; store packed, 20a25. candled, 58 average receipts, 53a55; storage, 48a 60, Cheese—Longhorn, 28; mild cream 28; old sharp, 35 per pound. Poultry—Alive, = roosters, 1 ducks, chickens streets 17 Dressed— 0a32; roasters, 30; roos $4a35; turkeys, 3 each; ducks, 2 , 40a45. —Calves, choice, 10a11; thin, 6a7 gs. 8 to 12. veal, 12220 14a16; loins, 20a , and shoulders, 14a16. and Vegetables. chicken: 18; f i EBeese 13a14 medium, lambs Spring, 1 Fruits Today’s market report on fruits and vegetables, compiled by the Market News Service, Bureau of Agricultural Economics, sald Apples—Supplies moderate; demand moderate, market steady. Barrels— Maryland, Vi a and West Vir- ginias, A 2% inches up, Staymans, 6.00a6.50; Yorks, 5.00a6.00, few higher: A 2% inches up, few higher: A clous, trading slower, 6. No. 1, inches up 50a7.00; Yorks, inches up, poor color, 2.5 Northwestern, medium y, Spitzen- i mostly 3.2! Winesaps, few sa ; Deliclous, mostly 4.50. Cabbage—Supplies moderate; demand old stock, market fairly ew York, bulk per ton, h_type, mostly 40.00, few low as New stock, market firm. Flor- el hampers, pointed type, lery Market Steady. Supplies moderate: demand moderate, market steady California, crates, best, 7.50a8.00, mostly 7 some short, 7.00. Florida, 10-inch crates, 3-6 dozen, best, 3.75a4.00; fair quality, 3.50. New York, 2-3 crates, 3.5 .00. Lettuce—Supplies moderate: de- mand moderate, market firm. Florida, 1%-bushel h pers, Big Boston type, best, 2.00: ; some fair quality low as 1.50, Arizona and California, Im- perfal Valley, crates, Iceberg, mostly 3.75. Onfons—Supplies, moderate; _de- d moderate, market steady; New k and Ohio, 100-1b. sacks Yellow No. 1, medium to large sizes, v 3.50; some medium size, 3.25. Potatoes—Supplies, liberal; Demand moderate, market steady; Michigan, 150-1b. sacks Russet Rurals U. 8. No. 1, mostly 2.40 per sack; New York, 150-1b. sacks round white U. 0. 1, mostly 2.25 per sack: Maine, 150-1b. sacks Green Mountain U. S. No. 1, mostly 2. per sack. Spinach—Supplies, light; demand, moderate, market strong; Virginia, Norfolk section, cloth veneer barrels, Savoy, 4.50a5.00; Texas, no sales re ported. Sweet Potatoes Cheaper. Sweet potatoes—Supplies, moderate; demand light, market dull and weak: Maryland, East Shore, bushel hampers yellow varieties No. 1, 2.65a2.75; North Carolina, cloth-top stave barrels yel. low varieties No. 1, 5.00a5.50; few, 6.00; some ordinary quality low as 4.00. Tomatoes- mo Supplies, light; demand limited, market dull; Florida, sixes, turning, wrapped fancy, count, 5.00a 5.50; gems, mostly 3 Cauliflower—Supplies moderate; de- mand limited, market slightly weaker; fornia, crates, 2.90a3.00. beans—Supplies, moderate; moderate, market steady; s-bushel pers, green, fajr quality, demand Florid 3.00a3.7 2.00a2 , best, mostly § Squash—Supplies, light; demand light, market steady; Florida, pepper crates, 3.00a3.25; few, 3.50. Peppers—Supplies, light; moderate, market about Florida, crates, fancy, choice, Eggzplant—Supplies, light; demand moderate, market ady; Florida pepper crates, fancy, 5.00a5,60. Peas and cuci No supplies on market, no s reported. Strawberries— moderate; demanc ull; Florida pony 35a45; mostly 40 per aqu Bee demand steady; 5.00a6.00; carrots—Supplies light light, market about steady , Depper crates, mostly 2.00. STOCK EXCHANGE SEAT MOST COSTLY SINCE 1920 ed Press. YORK, value January 16.—The of New York Stock seats yesterday was re- the transfer of a member- $108,000, the highest price the market boom of 1920, ccord of $115,000 was es- Two other seats were sold 0 each and a fourth for COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY WORTH, January 16.—Eggs a dozen in some Texas Scarcity and high roughout the entire Ja 16.—Specula- is very active s high as $6 a hun- western Michigan d some dealers fore- new crop. January 16.—Colonial and Atlantic Refining filling stations have advanced the price of gasoline 2 cents e in response to similar tion taken the Standard Oil in this territory Texas Co. expected to follow sui in white ans In s quot cast $7 before the Co. is ary 16—Sales have been heavy at the auctions of South. ern bred mules, horses, cattle and hogs held here recently. PHILADELPHIA, January 16— Spinners are generally holding yarns for top-market quotations. Stocks of weaving yarns are low. The demand for knit goods is such that yarn- makers look forward to a good year's business from this source. ATLANTA, Janu | | | dealers, YOUR INCOME TAX Expert Advice Given by United States InternalRevenue Bureau Based on Latest Changes in Legislation. ARTICLE NO. 5. The term “earned income,” in com- puting which the taxpayer is allowed on all net income us to $5,000 and not exceeding $10,000 a credit of 25 per cent of the amount of tax, is defined by Income tax regulations as “wages, salaries, professional fees and other mounts received for personal serv- ices actually rendered” However, \ere are thousands of casés of tax- payers engaged in a trade or business in which both personal service and capital are material income-producing tactors. In such cases it is provided that “a ~casonable allowance in compensation for personal services shall be consid- -red as earned income.” It js further provided that the total amount treat- d as earned income from a trade or business shall not exceed 20 per cent of the taxpaver’ share of thé net rofits of such trade or business. A ‘reasonable allowance for personal iervices” in general is interpreted by regulations to mean ‘“only such amount as would ordinarily be paid for like services. by 1i' e enterprises in like circumstances. The revenue act of 1924 provides for ‘earned income deductiona” This neans deductions which are properly llocable to or chargeable against arned income and which are allow- ble from gross income in computing et income. Notable among such de- luctions are business expenses. Fre- uently taxpayers receiving a salary nay be compelled to use a portion in »ayment of transportation, advertis- ng or for samples, Such items, which re necessary expenses in the conduct »f a business, are properly charge- ble against earned income. The term ‘“earned net income,” on which the credit is computed, means he excess of the amount of tl sarned income over the sum of the :arned income deductions. Thus, a man who In 1924 received a salary of 00, of which he paid $500 for neces- \ary expenses in connection with the business, computes his tax on earned aet income of $4,500, from which, of ourse, should be deducted his per- onal exemptions—3$2,500 for a mar- ried person, $1,000 for a single per- son, plus $400 for each dependent—in ascertaining earned income credit. (The next article in this series will appear in tomorrow's Star.) TREAT FURNTURE L USED GARS Dealers Permit Exchanges in New Methods Adopted to Boom Sales. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 16.—Auto- mobile sales practice has broken into the furniture trade. Just as they turn in their used cars against the pur- chase of new models, furniture own- ers are now being permitted to ex- change their old couches, chairs, tables and beds for new, upon pay- ment of a price differential. The fur- niture men in scores of cities have adopted this sales plan and are re- finishing the old pleces and offering them for sale at bargain prices. This and other sales impulses are counted on to land over §1,000 000,000 worth of new furnitire in American homes during 1925, according to manufacturers and buyers now gath- ered at the Chicago and Grand Rapids furniture expositions. Th: men say that the taste for better things displayed today by the aver- age American is resulting in brighter, better designed and more artistic furniture and in a sales demand which spells wide and continued prosperity for the industry. More Color in Homens, Displays at the two great furniture tairs indicate that from this time on the American home will be more colorful. for practically every room in bright shades, such as burnt orange, delft blue, carmine, Nile green and combi- nations of black and Roman gold. Lighter and more graceful lines pre- dominate, and the heavy, overstuffed pieces are becoming conspicuous by their absence. The upholstery ma- terials trend toward mohalrs, velvets, tapestries, velours and damasks, in many instances. Present Prices to Stay. Prices for these new products, fuf- niture men say, will show little change from those of 1924, at least throughout the first half of this year. All indications point to an even more prosperous period in 1925 than last year, which was a banner one in the industry, according to P. E. Kroehler, manufacturer and president of the Furniture Clib of America. “All of us in the furniture business are op- timistic,” he added. This sentiment was re-echoed by other makers and who declared people were turning toward the better household furnishings and stressing quality in- stead of cheapness. The cheaper lines have comparatively little attention at the furniture shows. 0ld Furniture Doomed. “Moving pictures and the schools,” said J. L. Schnadig, president of the Pullman Couch Company, today, “are considered by us as big factors In improving the taste of the buying public. Movies show homes well and artistically furnished, and the school through their domestic science de- partments, are teaching the future housewives the benefits of good household equipment. As a result, cheap, unsightly furniture is gradu- ally disappearing.” Manufacturers point out that util- ity is not being overlooked in the struggle for artistic appearance. This is emphasized in the prominence of utility furniture in the exhibits. Com- bination furniture of all sorts is be- coming popular dealers say. This has been encouraged by the gradual change of many familles from the large rambling houses to small homes and apartments. Improved workman- ship is making these combination pieces much more sightly than in past years Display Rtooms Too Smal The Chicago Furniture Mart, used for the first time at the semi-annual exhibition last June, has already out- srown its quarters. This huge build- ing, constructed at a cost of $10,000,- 000, was expected to provide ample display space for at least 10 years, Already, howéver, authorization has been given for construction of & huge addition, so that manufacturers who desire to show thelr wares in thaf city may be accommodated. In spit of this evidence of big busiheéss, t irand Raplds show gives no sign losing its position of prominence the trade, LIVE POULTRY LOWER., CHICAGO, January 16.—Poutry, allve, lower; fowls, 16a21%; Spyngs, 22; roosters, 15; turkeys, 23; ks, 23; geese, 18. Ly William Murdock, an Englfh én- L gineer, was the first to emply coal &5 as an [luminant, These displays show groups WA RESCNDCUTS N TEXTLE WAGES Fall River Mill Men Hold Con- ferences as Workers Re- sist Reductions. Bpecial Dispatch to The Star. BOSTON, January 16—With more than a thSusand workers on strike in Fall River, the wage reduction movement, which began in Maine two months ago and then spread to lead- ing mills in New Hampshire and most sections of Massachusetts, has hit its first serious obstacle. Treasurers of mills in Fall River have been hold- Ing conferences over the situation and there is a possibility that some re- ductions may be rescinded on the contention by employes that they have already taken a cut in some de- partments. 1t 13 notable that Fall River plants have been idle in greater proportion than those of other Yot plans to resume on a r ‘basis have been more determinedly resisted there than elsewhere. Strikes at Fall River have been rare in the last 20 years. The Dartmouth mills of New Bed- ford are the only ones there which have not announced reductions, and the decision of the Dartmouth man- agement on this question is being closely watched. The American Linen Co. plant at Fall River will resume Monday on a five-day-week basis after elght monthe' idiene; OIL B.EPORT—S--DEKIER NEW YORK, January 16.—Reports in tne financial district that the In- ternational Petroleum Co., Ltd.. was negotiating a bond {ssue of $10,000,- 000 were officially denied today. No new financing was contemplated, It was annonuced. D. 0, FRIDAY, JANUARY 16, 1925. 'SURPRISING GAINS IN LIFE INSURANCE Increase in 1924 Over 8 Per Cent Above Any Former Year’s Business. By the Assoclated Press. NEW YORK, Janudry 16.—An in- crease In new business during 1924 of 8.2 per cent over any former year is announced in a report made to the Department of Commerce by 45 life insurance companies, which are said to control 81 per cent of the total lewal reserve life insurance in the United States. Using these figures as a basis, the report, issued by the Association of Life Insurance Presidents, estimated that the total new insurance written by all the legal reserve companies in the country during 1924 was $13.614,000,000 and that the total amount of life insurance now out- standing was $84,000,000,000. Volume of business has Increased 384 per cent in the last 10 years, although the population had in- creased ‘only one-sixth, the report said. During that period the in- crease, by classes, has been: Or- dinary lfe insurance, 294 per cent; group insurance, 1,213 per cent and industrial insurance, 196 per cent. B WESTERN MARYLAND R.R. MAKES GOOD 1925 START Special Dispatch to The Star. BALTIMORE, January 16.—A good start is being made by the Western Maryland Rallway in its operating results for the new year. Estimated earnings for the first week in January show an increase of 316,295, or 5 per cent, over the total for the same week in 1924. Of particular signifi- cance is the fact that freight derived from the movement of coal and coke increased $ per cent and passenger revenues showed a 15 per cent in- crease. t’s the Filling Station at--- ONNECTICUT AVENUE a» ORDWAY STREET (Formerly operated by the Connecticut Avenue Accessories Co., Inc.) SATURDAY January 17, 1925 At This Station Only Connecticut Ave. and Ordway St. A Clothes Brush, of excelent quality, to every purchaser of 5 gallons or more of AMOCO-GAS or AMERICAN-STRATE GASOLINE Useful in the car or at home and worth going out of your way to get., SEABOARD AIR LINE FACES NEW RECORD Earnings for December May Make 1924 Income Largest Road’s History. in Spectal Dispatch t> The Star. BALTIMORE, January 16.—Based on a 10.8 per cent gain in total load- ings during December, the Seaboard Alr Line Railway earning statement for the final month of 1924 is ex- pected to compare favorably with last year, o far as gross operating rev- enues are concerned. Should gross operating revenues for Deckmber equal the preceding year, Seaboard will report a new high record for all time in total gross receipts for the full year. The previous high was $52,249,110 reported in 1923. Surplus after charges for the 11 months of 1924 amounted to $2,601,- 430 compared with $2,019,440, report- ed for the full Gross for the $48,080,499 The two coal roads with operating headquarters here did not do so well last year as in 1923, owing chiefly to the depression in the coal industry. Baltimore and Ohio’s ne operating' income for 1924 is estimated at $9.40 a share. This would be nearly $4 a are less than w reported in 1923. Vv Mary! earnings are estimated at §: 0 a share on the first preforred, against $9.40 . share reported for the preceding year. INDUSTRIES STEADILY EXPANDING OPERATIONS Special Dispatch to The St PHILADELPHIA dustrial establishments in Pennsyl- vania and w Jersey expanded operations considerably in the last month. All metal plants except ship- yards report increased employment and larger per capita earnings. Tex- tile mills have done better than in recent months, while brickyards, lum- ber mills and furniture factories have 12 11 months of 1938. months stood at nuary 16.—In- exhibited marked improvement. Now Its Lord Baltimore’s You probably know the station already—may have stopped there for gas or oil. If you have ever seen it, there’s no need for us to go into details as to how carefully it was planned and how complete its equipment is. If you have never stopped there, all we want to say is that it is just about the finest filling station in All the latest devices have been in- Washington! stalled for speedy service. Plenty of room in the driveways leading to the visible pumps. Four crank- case pits under cover and expert attendants in charge. Free Service. We're building new stations where they are needed as rapidly as possible—but in this case we're getting just the sort of station Lord Baltimore builds, ready- made! From now on, uniformed attendants will gladly serve you with AMOCO-GAS, the Original Safe Special Motor Fuel, or AMERICAN-STRATE, the Best Regu- lar Gasoline. And you'll get courteous, capable Lord Baltimore Service—the same service as is at your command at all the other Lord Baltimore Filling Stations in Washington and other cities. Lord Baltimore Filling Stations, Inc. No.1: 910-12 Pennsyivania Ave. N. W. No. 2: No. 4: 3317 M St. N. W. No. 6: Connecticut Ave. and Ordway St. 609 E St. N. W. No. 3: No. 5: No. 7: 15th and H Sts. N. E. 2311 Pennsylvania Ave. S. E. 20th and K Sts. N. W.