Evening Star Newspaper, May 12, 1925, Page 29

FINANCIAL ORK EES HIGHER * INLOGAL AT Negetables Coming Down as Supplies Increase—Hams Are Advanced. A decidedly firmer condition of the pork market was reported today, deal- ers announcing an advance of $1 & hundredweight on practically all prod- nucts, Increased prices, it is stated, re- sulted from decreased receipts, and it also is reported that Wesf have increased activitie: Beef, veal and lamb p; stantially the same as last Dealers the market is not particu larly active. H Increased supplies of early vege tables have resulted in decreases all along the line. Strawberri continue plentiful supplies of pineapples are steadily creasing. Today's Wholesale Prices. Butter—Fancy, tub, 52a54; prints, ore packed, 22 selected, ipts, 28. y. alive — Bavilers, white Leghorns, 45a4 a31; medium fowls, 2 nd n candled, ; turkeys, 25a30. Dres: turkeys, 30a35; ducks, Live stock—C: dium, 10al1; lean, $a 16a18. Meat lamb, Jhams. 2 Fruit and Vegetable Review. Today's market report on f and vegetable (Compiled by the Mar- ket News Service Bureau of Agri- cultural Economics) said: Cabbage — Supplies moderate: de- mand moderate, market about steady Virginia, Norfolk section, ~barrel crates, pointed type, mostly = Lettuce — Supplies moderate: de- mand moderate, market fairly steady: North Carolina, 5-peck hampers, Big Boston type, ordinary quality and condition, 1.00a1.50; California, cen- district, crates, lceberz type. dozen, 4.00a4.50: mostly 4.25: | Arizona, rates, Iceberg type, 4 dozen, few sales, 4.75 00, Onions—Supplies very light: de- amand moderate, market firm; Texa standard crates, Yellow Bermudas. commercial pack., mixed, No. 1 and| 2. 3.50a3.75. Potato Demand Slow. Potatoes—Old stock uppli erate; demand limited, market steady; New York, 150-pound sacks, round whites, U. S. No. 1. 1.75a2.00. New stock: Supplies liberal: demand good, market firm; Florida. double- head barrels, Spaulding Rose, U No. 1, 6.50a6.75. Strawberries—Supplies liberal; de- mand good; market firm: North Caro- lina, 32-quart crates various varietie: wide range in prices, 3.00. 5 4.00a4.50; Virginia, Norfolk section, 32 and 60 quart crates various varie- ties, best, 15a18; fair quality and con- dition, 12%; poorer low as 9 per quart. Tomatoes—Supplies moderate; de- mand moderate, market firm for good stock; Florida, 6s, ripes and turning, wrapped originals, best fancy count, 5.00a5.50, few high as choice count, 4.0024.50; some ordinary qual- ity and condition, fancy and choice | count, 2.00a4.00. String beans—Supplies moderate; demand moderate, market steads Florida, %-bushel hampers, green. 1.00a2.50, mostly around 2.00; South CeDime bushel hampers, green, 2.50a 00. 11; me. s mod- Other Prices Today. Cucumbers—Supplies moderate: de- mand moderate for good stock, mar- ket steady: most stock ordinary qual- ity; Florida, % bushel hampers and square bushel crate: . 1, mostly 3.50, few best 4.00; No. 2, 2.00a2.50; culls low as 1.50. { Peppers—Supplies liberal; demand; moderate, market dull; Florida, crates, No. 1, a3.00; No. 2, 2.00. Eggplant—Supplies liberal; demand « limited, market steady; Florida, pep- per crates, No. 1, 3.00a3.50. Peas—Supplies moderate; demand good, market steady; Virginia, Nor- folk section, G-peck hampers small pod varieties, 3.50. CHICAGO LIVE STOCK MARKET | CHICAGO, May 12 (United States Department of Agriculture).—Hogs— Receipts, 17,000 head; slow: opening 25 to 35 higher; later sales show advance; packers doing little; early bulk good and cholce 140 to 225-pound averages, 13.00a13.30; top, 13.35; early, bulk 250 to 325-pound butchers, 13.10a 13.25; packing sows, largely 11.75a 12.16; strong welght slaughter pigs, mostly 12.50a12.75; heavyweight hogs, 13.00a13.25; medium. 13.00a13.4 12.75a13.25 light light, 12. packing hogs, smooth, 1L. packing hogs, rough, 11.40a11.80; slaughter pigs, 12.00a13.00. Cattle—Receipts, 8,000 head; beef eteers and yearlings, steady to 25 higher; mostly 10 to 15 up; in-be- tween grades, light and medium | welght offerings, showing most ad- vance; better grades heavies scarce, in narrow demand: best weigh steers, early, 10.60; baby beef year- lings, heifers, 11.40; long yeariings, | 11.00a11.10; bulk fed steers and vear- lings, 9.00a10.25; she stock, steady to strong: bulls, strong to 25 higher; vealers improved, quality considered, about 25 up: weighty bologna bulls, 5.50; bulk, 40; good to_chofce handyweight veal calves, 10.50a11.00 to outsiders; packers paying upward to 10.50 for about 125-pound averages; light vealers around 8 stockers scarce, firm. Sheep—Receipts, 16,000; fat lambs opening around 25 lower; good to choice 79 to 86-pound, clipped, 13.50a 13.75; best held higher; welghty throwouts, 11.50a11.75; no _wooled Jambs sold; 16 cars good to choice 69 pound California _Springers, 16.25; sorts ranging from 8 to 20 per cent; welghty throwouts, 15.50; culls, 13.50; fat sheep unchanged: good clipped ewes, 8.00. ASPARAGUS IN SLUMP. NEW YORK, May 12 (Special).—As- paragus was in heaviest receipt in the New York market today and prices slumped from 50 cents to $1.50 per| dozen bunches. The demand was mod- erately active, however. The white variety sold at from $4.50 to $5.50 per idozen for the extra fancy grade and at $1.50 to $2 for culls. WOOI; iU{INé 7ACTXVE. LONDON, May 12.—A f#ir selection, amounting to 7,869 bales, was offered at the wool auctions today. There was a full attendance, and home and continental buyers were active pur: chasers at current rates. Cape of Good Hope and Natal grades moved slowly. The bulk of the offerings was withdrawn. DAIRY PRODUCTS. BALTIMORE, Md., May 12 (Spet elal).—Live pouitry—Spring chickens, Pound, 50a58; Winter chickens, 40a45 stags, 25; old hens, 24a30; Leghorns, 40a48; roosters, 17; ducks, 18a25: pig- eons, 20a30; guinea fowl, each, 50a75. Eggs — Receipts, 660 cases; native BY WILLI . HEFFERNAN. NEW YOI Persistent buying in public utilities continued to- day, the two main incentives, as here- | tofore, being increased earnings and | possibilities of superpower mergers. _-The rise of 2 points to a new high in Buffalo General Electric followed announcement that a combine of a number of New York companies in which this unit was included had been consummated. Southeastern Power gained almost 6 points to 82, Lehigh Power rose over 6 to 1 . and Con- solidated ( of Baltimore gained NEW YORK, May 12.—Following iz an official list' of bonds and stocks traded in on the New York Curb Market today: Sales in thousands $Allied Pack 4 Allied _Pack Co moxog, 0 e e 1075 s s 7 Alum 7 6 Am Beet S Anm Gas & Fl Os Am Tce 7s Am Pow & Lt s P & L 65 new Sum Tob 7lgs Roll_ Mill_0s 1 Andean Nat 6s.. 110 & Cudahy 514 % Deere & Co 14 Detroit C = Grand Trunk 4 10G Mo & N 5las 4 Gulf 0 Corp Bs. . 17 Int Pap C 6s A bhy Mo Wineh resi 78 1 Nor S P M 6las Ohio Pow 55 B 13Pn Pw & L 5 5Pn P&L 1 Pennock O 6135 8133 B 63s Gigs S Run 618 40 acuum Oif ‘78 Webster Mills 8% s N of Bogota 8s 94% French Nat T X0 In Mtg Bk F Krupp Fried L 6 Mtz Bk _Den'k 1 Rep of Peru 8 05 106 98 vt 5igs. 1014 c ]'n\: s 00% Sales STANDARD OIL ISSUES. in units. 1500 Anglo Am Oil 1300 Atl Lobos ... PL 100 Crescent P L 30 Cumber P L. 175 Gal Sig Oil . ) Humble 01 & R 30 Magnolia Pet 400 Ohio Ol 1000 Prai O & G new 210 Prairie P L. .. 30 Southern P L 102008 O Ind. .. 100 S O Kan. . 10008 O K: 6614 3—$1.000 at 103%. 000 at 9815 $100 at 9814’ 6 at Washington Gas 05 Riggs Realty_(long) B5s—3 $100 at 8% $100 at 984 Capital Traction C 5 6 at 971x, 5 %, 10 10 at 07, 10 at 9. 4 at 07, 10 at 20 at 981, 20 at 96, 10 at 5%, 30 10 at 95 %, 40 at D5% ngton Gas Light—23 at 56 at 563 Washington- Rwy. & 110 1 at 110, 10 at 110 at 1103, 40 at 110%. at 112,10 at 11234, 500 at 115 2 Washington Rwy. & Elec, pfd.—10 at 83. National Capital Bank—b0 at 220, 15 at 220, ‘ommercial National Bank—?2 at 155, Amarican Security and Trust Co—45 at %) ate Title Lanstc Monotype—10 at 84%. 50 at 84510 ue 8470, 10 av 85, 40 at 85. National Mtge. & Invest. pfd—30 at 9%, 50 at §14- e 60" at_110%, com.— Insurance Co.—10 AFTER CALL Capital Traction—10 at 953, 40 at 95%. 20 at 95%. 30 at 95%. Real Estate Title Ins.—10 at 147%. Washington Rwy. & Elec. com.—100 at 116, Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid, 973 04 101 . 131 LBl a1 Asked. Amer. Tel. & Telga. 4s. 4 Amer. Tel. & Tel. $%s. 97 Am. Tel. & Tel. ctl. tr. Bs. S Am_ Tel. & Tel. conv. 6¢. Anacostia & Potomac Ana. & Potomac guar. C. & P. Telephone & C. & P. Teléphone o apital Traction R. R. ity & Suburban bs. Georgetown Gas 1st Potomac Elec. 1st Bs.. lec. cons. B Wash.. Balt. & Annap. Washington Gas 5s.. Washington Gas 8. .0 .. & Elec. 5. Riggs Real Riggs Realty 5a (short) Southern Bldg. 834s... ... Wash. Mkt. Cold S Wardman Park Hotel 6 STOCKS. PUBLIC UTILITY. American Tel, & Telga...... 13 Capital Trac Py Washington Gas Norfolk & Wash y. & El National C ColumMia Commerc istrict ... Farmers & Mechanics Federal-American Liberty Lincoln Kational Rigxs Second Natl. Bank “Metropolitan.. 'of ‘Washington TRUST COMPANY. American Security & Trust. . 3 Continental Trust . onti I Trust Savings & n Trust... ... .. Waste. Loan & Trus SAVINGS BANK. Trist. Seventh, Stred Cnited States. - Wiehington Mechanics’ FIRE INSURANC TITLE orumbia Title. . feaMBatate Tiide MISCELLANEOUS Paper pfd. hants: Trans. & § Mergenthaler Linotype. . Natl. Mtge, & Invest. D and nearby firsts, dozen, offered at 30. ) Butter—Good to fancy creamer bound, 39a44; prints, 44a45; ladles20u 30; store packed, 24; dairy prints, 24a 38; rolls, 24a28; process butter, 82a33, Old Duteh Market com. Old Dutch Market pfd. Lanston Monotype. . Security Storage. Washington Marku Yellow Cab... NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office more than 3 points, all at record high prices. - The shorts in Victor, Talking Ma- chine had a difficult time covering in their commitments, and found they had to bid the price up another 7 points to 91. Later, part of the im- provement was lost Motor stocks reflected the improved outlook for earnings, and, under lead- ership of Cleveland, which reached a new top, around 26, most of this class went higher. Rubber and Tire shares commanded attention, but gains were fractional. 443 881 Sales INDEPENDENT OfL in hundreds. 10 Allen_0il a3 4% 3% 19% L 29 STOCKS. P TEER 89 Continental Cregle Synd .. Derfy O & R ptd 1 Euclid Oil Co... 11 Gibson Ol Cor. Wid 0 vt et il Oil of Pa 91 Lago Pet 2 1 Marland_Refin ount Prod FRER FEEE FE et ot 2y T s TR % Pennock O1l Corp i Red Bank Ol 18 Royal ws ZEaz-SESomentandiuu IR nRenE e 205 _ FEHIE Sezaill FEESE 2 Ventura Cons 4 Venezuelan Pet. ilcox Ol & Gas odley Pet oil T Sezald Ravon Pr wi Superpow A Superpow B Am Thread .. 1 ANz Pow & Lt 7 Armour ¢ 1% Armour & Co pf. 831 1 Artloom “Corp... 3831 1 Artloom Corp 101 10 Asso Gas & Elec 287 20 Aseo D G new wi 51 20 Atlantic Fruit Atias P € nw wi Borden Co Horden pf A" Wi den Tts ‘wi dgeport Mach Bkiyn City R R i Bur Ad M n 15 Car Light arolina P & L. 403 entrif Pipe Cor. 15 22 Shapin_ Sacks Co 2 @ Chatterton & Sn 11 Chrysler Mot wi 45 Cleve Auto 241, Commonwlth P C 1 common P i 3 Contl Bak Contl _Tob id ne. 6 Curtiss Aero M. 18% 1Curt Aero M pfd 68 4De For R C vic s D L & W Coal % Dubilier € & R 47 Durant Mot ... 13% El Bond & Sh pf. 1 51 El B & S new cor 6 90 El Invest Inc 7 Eureka. EC 18 Fed L&T new wi i, Ford Mot Canada 485 ' R Frank HH M{ 207 8 Garod Corp.... 1G Outd Cvt tr ef 8 Gillette Saf Raz. 14 Gt Atl Pac pfd 68 1 Happiness C St' A 2 Hazeltine Corp . . 1 Horn & Hardart 5Int Contl Rub. 31Int Coner ‘Ind ¢ 13 Intl Mateh C pfd 1Inter-Geean R C 1 Intern Bi: Jones Radio. Kelvinator € 7 Keysto Solether 2 Kraft Cheese . 14 Landover Hold A 43 Lehigh Pow sec. % Lehigh V 13 v 83 3 B Mid West 1y Mid Weat 23 Mid W Ut rts wi 1 Motion Pic Cap, 1 Music Master. =030 SRS RS ERUPNR ot Se Pty NF PAREF b son . 25-3322, 83 B3 0aittn G 10% N ] v 3 INY Tel ‘Co ptd 112 § Nick Pl new 'wi &7 ic P new pfd wi 84 orth O Pow C.. 11% or Sta P C war 18 1 Omnibus C A pld 94% 20muiCyte... 148% iPenn Wat Po €145 50 Pow Corp N Y.. b 1 Prophylac Brush 1 Purity, Bak B, . A FROE P 1Rem Noi T C 1 Repetii Candy 10 Reo Mot ... 2 Seagrave Corp 2 Sieber Rub Sil G P new B Serv EI Corp 1 Sleep Rad v t cfs 3080 C & I new 76 Southeas P & .28 Cal Ed B pfd. . s S Cal Ed A ptd_ Mot 7 St Regis Paper 36 Stan Pub C A tts utz Mot ..... wift Intl 5 % Swift & Co ... 7 Tenn Elee Power 4 Thermiod Rad C 1 Tower Mg Faar 64 Unit G ni Light & P A i Pft Shar. & = 20 West Pow ... i3 West Pow pld. . 3 White R M o8 Witk sp & i S 0 % c'h W Wilson A n wi.. 2 Wilson n pf wi. Qe G mh s 23 L. EEZEE0E TR 1 Hollinger . : 9 Hecla Mine "\ 1 Jerome V Devel 125 Kay Cop Cor 1 Kerr Lake 10 Lone Star. . McKin_ Dar. 4 New Jersey Zine 184 4 Nipissing .. 5 3 Ohio' Copper 00 Plymouth Ld 12 Premier Gold M. "2 10 Rochester” Silver. 410 Spearhead Gold 5 4 1% 7 0 Tono Divide Tono Extens Tono Min . Un East Min’ | 2 Un_Verde Ext.. U 'S Contl.. Utah Apex Wenden Cop TODAY'S METAL PRICES. NEW YORK, May 12.—Copper steady; electrolytic, spot and futures, 135%. Tin steady; spot and nearby 54.50: futures, 54.00. Tron stead prices unchanged. Lead steady: spot, 7.75a7.90. Zinc firm; East St. Louts, spot and futures, 6.95a7.00. Antimony, spot, 18.00. FLOUR PRICES LE%ER, MINNEAPOLIS, Minn., May 12— Flour, 5 to 10 lower. at 8.50a8.90 a barrel. Bran, 25.00a27.00. Wheat, No. 1 Northern, 1.57%al.59%: May, 1.55%: July, 1.53%; September, 1.41. Corn, No. 3 vellow, 1.12%al.13%. Oats, No. 3, white, 42%2a43. Flax No. 1, 2.76%a 2.81%. 1 The lilac is the national flower of Denmark. | rops | months | freight | histos | decreased $225,830, WASHINGTON, D. U. 5. NOW WORLD'S BIGGEST INVESTOR Hoover’s Report Shows Huge American Investments in Foreign Lands. By the Associated Press. As a result of the foreign trade and financlal exchanges of 1924 the sum of American investments abroad has been increased by about $1,000,000,000, to o total in excess of $9,000,000,000. Announcing the figures today in the third annual report of the Commerce Department on the “visible and invis. ible” foreign trade of the United States, Secretary Hoover declared that “the United States is now the world’s greatest investor.” Calculations made embraced not alone the exports and imports of com- modities, the movements of gold and the expenditure of American tourists, but the increase in deposits of for- eigners in American banks, estimated for the year at 000,000; the re- mittances of immigrants to families in the old country, which reached the surprising togal of $300,000,000, and the missionary and ble ex- penditures abroad by American re- liglous and individuals, which accounted for 000,000, When the balance was struck the Nation was shown to have set up a credit total in 1924 of $5,970,000,000 for goods and services rendered abroad, while the countering total of credits’ earned in this country by for eigners, which included the credits arising from the lending of Americans to foreign borrowers, was $6,182,000,- 000. The difference was largely ac- counted for by the reports of banks that forelgn borrowers and trades had left $216,000,000 on deposit against future drafts. Data Held Important. vear’s development gave the United States a stronger position than ever in international finance,” Mr Hoover said. “The increasing impor- tance of the invisible items in explain ing our International trade is shown by the fact that in 1924 they were equlvalent roughly to 22 per cent of our total exports, whereas in the period between 1896 and 1914 they were reckoned as only 8 per cent.” To work out the balance of inter- national payments of the United States, four groups were set up, the first dealing alone with imports and exports of goods. The United States was shown to have a favorable com- modity trade balance of $970,000,000 for the year, after allowance had been made for the smuggling of liquor. The $40.000,000 so asslgned was said to be “in the opinion of officials con- nected with the customs service low estimate,” considering the opera- tions of the ships in rum row. The “invisible” items were then taken up, “The previous foreign investment, figured $614,000,000 for the year from ocean freights, estimated at $76,000,000, and total at $790,000,000. Tourists Spend $600,000,000. Foreign countries were estimated to have earned $600,000,000 from Ameri- can tourists, $150,000,000 from Invest- ment, in the United ates, and $68, 000,000 from freight services. These, with the immigrant remittances the: received, totaled $1,178,000,000, and | were sufficient to give them a credit balance against the United States on all “invisible” items of $388,000,000 for | the year. Of the whole record. Mr. Hoover said it fllustrated a change from the { conditions of 10 vears ago. when the “nation was heavily indebted to Eu " to a_condition in which “the dollar Is widely used in intenational transactions even where the United States is not directly concerned. NORFOLK SOUTHERN BOOSTS YEAR'S NET Railway Reports Increase of $34, 000 Over 1923—Fewer Passengers. By the Associated Press NORFOLK, Va.. May | Norfolk Southern Railway's net earn- ings ip 1924 were $408,521, an increase of $3#171 over the net income of 1923, according to the annual report of the board of directors. Freight revenue for the year in- creased $141,745, or nearly 2 per cent. The volume of traffic for the eight was unusually large, and revenues for those months exceeded those of the same period for the preceding year—the largest in the of the company up to that time—by $416,831, or 8.83 per cent, the report said. The passenger revenues of the year or 15 per cent, while the whole railway operating revenues decreased only $94,724. The operating expenses were cut $193,170, or 2.72 per cent. ' .—The B as o BALTIMORE GOES AFTER EASTERN SHORE TRADE Special. Dispatch to The Star. BALTIMORE. May 12.—One result of the change in management of the Maryland and Delaware Coast Rall- way Co. will be to place the line in condition to handle adequately the business between Baltimore and the Eastern Shore in the hope that this city will recover the trade which now goes principally to Philadelphia. It is proposed to buy new equip- ment, improve roadbed, etc. Six per cent 20-vear bonds will be sold to raise funds for that purpose. IMPORTS UP; EXPORTS OFF Baltimore Ships $1,000,000 Worth More Goods in Week. Special Dispatch to The Star. BALTIMORE, May 12.—Imports through the port of Baltimore showed an increase of over a million dollars last week, as compared with the previ- ous week, while exports decreased nearly the same amount, according to the weekly report of Charles H. Holtz- man, collector of customs. Total m- ports for the week amounted to $3, 000,491, of which $2,261,617 was .free and $738,874 dutiable. Exports for the week reached a value of $3,018,716, compared with $3,- 959,526 the previous week, and con- sisted of grain, fertilizer, copper, zinc drosg, photograph machinery, tinplate and tobacco. —_— RAIL REVENUES JUMP. NEW YORK, May 12.—April gross revenues of the Fiorida East Coast Rallway jumped about $400,000 ahead of the same month last year, reaching $2,200,000. A Word to Speculators. If you must speculate, select a rep- utable broker who hols membership in a recognized stogk :xchange. Ex- change requirements, in themselves, are some protection, must comply with busines: provided by rules and regulations. I° a member violates these rules, he hazards his membership, which 1s usually his xl’c?lfi asset. and the earnings of the country from | from services to foreign tourists, esti- | mated at $100.000,000, were shown to | s its members | S ethics as| 3 COTTON QUOTATIONS ARE BETTER TODAY Recent Declines Held to Have Di counted Improved Crop ' Conditions. By the Associated Press. NEW YORK, May 12.—The cotton market opened steady today at a de- cline of 4 points on May, but gen- erally 3 to 10 points higher, and sold about 12 to 19 points net higher in the early trading on covering and buying for a rise promoted by rela- tively steady late cables from Liver- pool. No fault was found with the early weather news, but there appeared to be a feeling in some quarters thut recent declines had discounted im- proved crop conditions and that the market was entitled to rallies. New York cotton futures closed barely steady at net declines of 22 to 31 points. January May .. July October December Opening July. 2255; New Orleans Quotations. NEW ORLEANS, May 12.—The cotton market opened stead mainly because Liverpool cables were better than due. First trades showed gains of 1 to 4 points and the market grad- ually worked upward until July traded at 2280, October at 22.03 and December at 22.15, or 10 to 11 points above yesterday's close. Private ad- vices indicated less rain in the West and moderate precipitation in the Eastern belt ew Orleans cotton futures closed steady at net declines of 20 to 37 points. High Low. Range 1] 3 CUTS LOSSES IN YEAR Poor Public Patronage and Use of Auto Cause of Insufficient Income. Special Dispateh to The Star BALTIMORE, May 12.—Operating losses of the Baltimore, Chesapeake and Atlantic Rallroad and Steamship lines for 1924 were $77,332 less than . the annual report shows. The s operating deficit was reduced m $290,356 in 1923 to $213,024 for 924 . Turnbull Murdock, president of the company, which is a subsidiary of the Pennsylvania Railroad, in his remarks to the stockholders said. “The financial condition of your company is so weak and its traffic prospects so unfavorable, because of the lack of public patronage and the use of automobiles, that the bond- {holders should not assume that the Pennsylvania Railroad will be willing to purchase future maturing coupons. i OVERLAND MAY PAY | DEFERRED DIVIDENDS Company Reports Record Earnings for Second Quarter of { | i | | | Present Year. | By the Associated Press | “TOLEDO. oOhio, May 12—with earnings reaching such high levels as to be a sensation in the automobile {world, President John N. Willys of I Willys Overland announced today that |a committee will meet this afternoon uss the matter of the more than $30 a share of accumulated preferred {dividena. Mr. Wiliys announced earnings for {the second quarter of the vear will reach $11,000,000, a new high record in_Overland histo | Estimated earnings for April before Federal taxes and depreclation were more than $4,000,000. May earnings should equal April, he said [FUNDSvFOR LIBERTY BOND INTEREST CALLED IN NEW YORK, May 12 (A.P)—In | preparation for the payment on next | Friday of about $66,000,000 in interest { on 4 per cent second liberty loan bonds and 41, per cent second liberty loan | converted bonds, the Treasury Depart- ment will withdraw $8,500,000 from Federal Reserve member banks in the New York district. About $24,000,000 in interest is payable at the Federal Reserve Bank in New York. REMINGTON DIVIDENDS. NEW YORK, May 12.—Accumu- lated dividends on the second pre- ferred stock of the Remington Type- writer Co. were reduced to $4 a share today through declaration of a $6 divi- dend payable at the rate of $2 on June 12, July 14 and August 14. The | regular quarterly first preferred pay- { ment of $1.75 also was' authorized. CITY BUYS MACK TRUCKS. NEW YORK, May 12.—The city of Buenos Aires has awarded a contract i to Mack Trucks, Inc., for 80 trucks, involving $400,000, in competition with British, French, German and Italian companies. The municipality is ex- { pected to place an additional order for 200 trucks this year. TEXAS 0UTPUT LARGER. Manufacturing establishments in Texas had an output in 1923 valued at $979,438,000, an increase of 16.3 per cent over 1921, the preceding census vear, the Census Bureau announced today. LIVE POULTRY PRICES. CHICAGO, May 12.—Poultry—Alive, unsettled; fowls, 2614; roosters, 15; tur- keys, 20; ducks, 24a25; geese, 15; broil- ers, 45a52. SPALDING'S NET PROFITS. NEW YORK, May !2.—A. G. Spald- ing & Bros. has net profits of $90,592 for the first quarter of 1925, equiva- lent, after first preferred dividend, to $1.40 a share on the second preferred. BOSTON STOCK MARKET. BOSTON, May 12.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt in here: High. Aoutess Arizona Com Bingham . Boston & M Calu & Hecl: Conner, J T. East Mass Eastern S S. Edison Elec . Island Creek Isle Royale Libby, 'Ne Mass Gas Mass Gas pfd jiaeen O ¢ i o EEFE R QS 9% @ mDBSmenamm i - ittt tie ot R SR bt 2 3 a0 3,838 1% @ e e FEF FORR AR ERR R F 1smaonS 19D 5 S R *® S RN R oo SISETE: s o TUESDAY, MAY 12, 1925. FUTURE PUZZLING INGOAL INDUSTRY Mines Busy and Sales Good as Time for New Wage Pacts Approaches. BY J. C. RO Special Dispatch to The Star. WILKES-BARRE, Pa., May 12 Although the stoking of the house- hold furnace is practically over for the season, far-sighted coal corsum- || ers throughout the anthracite-using belt are loath to see the bottoms of their bins and already are laying in future supplies. In consequence, the mines are producing steadlly and heavily. The reason for the heavy demand lies in the fact that the two-year agreement between the anthracite miners and operators expires August 1. Leaders of the employes are al- ready formulating demands which will be presented at the joint meet- Ing of the operators and miners at Atlantic City. There is talk through- out the coal fields of a call for a wage increase of approximately 40 per cent. Demands Face Rejection. Certainly the operators will con- tinue to reject the ‘“check-off,” or withholding of unfon dues from miners' wages and their delivery to| the union treasuries. It is equally certain they will not agree to a 40 Pper cent wage increase. The coal companies are in a posi- tion where increases in costs of pro- duction and consequent increases in price may lose them some of their most cherished markets, and they will oppose any demand which involves price advances to the utmost, ac cording to information secured by the writer from thoroughly reliabie sources today. Fear Greater Use of Oil. The anthracite operators probably will always have a call fof a certain tonnage of the so-called domestic and stove sizes. But thev cannot produce those sizes without producing at the same time steam coal which mus{ be old in competition with bituminous. They cannot pass on the price in- creases on steam coal, for the bitumi- nous producers are only waiting an opportunity to raid that market Moreover, ‘advances in prices for do mestic sizes surely would induce in creased use of ol and other methods of heating. The deliberations of the policy com mittee of the United Mine Workers | at Indlanapolis may result in spread ing this state of uncertainty as to production all over the country and | involve nearly every section and in- | dustry. Large Reserves Unlikely. It is unlfkely that the bituminous men will lay up heavy supplies in an- ticipation of an anthracite strike. They did this two vears ago and had difficulty in disposing of their reserve storks. But in the meantime the Ken- | tucky and West Virginia non-union |} préducers are working at full speed. | None the less, those consumers not in a position to get non-union coal are | thinking seriously over future sup plies. (Copyright, 1925.) NEW YORK, May 12. immons, president of the Stock Exchange, and Thomas B. Ma- loney. head of the Consolidated Stock Exchange, both were re-elected two trading organizations. YOU MAY STOP WORKING When you have arrived at the point where you have saved and PUT MONEY TO WORK FOR YOU Safety of placement is ab. solutely essential to this highly desirable end. Don't be misled in selecting the media. There is one safe, sure and secure form and that is FIRST MORTGAGE NOTES —which are secured by first liens on improved real estate in Washington. Your money will earn vou annually 612% —payable promptly at the end of each half-year period. Why not Start Today With $100 or moré? Let us explain MORTGAGE DEPT. {SHANNON-& LUCHS] 713 14th St. N.W. 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