Evening Star Newspaper, May 26, 1925, Page 27

i STOATION ACUTE N NAVAL STORES * Turpentine and Rosin Short- | age Makes Prices Double in Four Months. BY J. . ROYLE. Special Dispateh to The Star NEW YORK, May may be called means of increasing turpentine and rosin roduced in the U situation naval s and prices for turpentine and sin have risen until they are nearly ble those of four months ag ) s are short in all the producing ections. Drought affected the productio: the forests of Louisiana and T The French and Spanish ¥ short and seven weeks late. while world demand creased for both products. Stocks | carried over from last season were the smallest ever known. On April 1 there remained only 300,000 barrels of rosin avuilable, compared with 900,000 at the same time in 1924. Practically all the produced exas, Mississippi and western have been exported, and the t temporarily on Alabama, Georgia and Florida for supplies Chemists to devise supply of be An| the Crop Smaller Tran Usual. This vear's crop is estimated at 13 1o 20 per cent less in size than that of Jast vear, which totaled 475,000 barreis of turpentine and 1, ,000 barrels of rosin. The ordinary value of the erop | is from $23.000,000 to $25,000,000. Dispatches from men in close touck | with the industry in Florida declare | the incre: n value has been due to | increased foreign demand reflecting re- sumption of industry in Europe and | reduction of stocks in the main ports. The dry weather has caused the death of considerable t entine-producing timber and other forests have been Wwithdrawn from naval stores produc- tlon for lumber purposes. | Shortage in Laborers. | Boat building and consturction work | in Florida .have made such heavy | drafts on the supply of common labor that many turpentine camps have| been stripped of their workers | pentine companies have been import- | ing negroes, but feel lucky if they can | hold half the men they bring in| inst the higher wages and more | pleasant surroundings in other in- dustries. South American consumers | e buying heavily of Florida stocks. The "Georgia operators have been greatly encouraged by the rise in| prices. They say they have scarcely gotten back ca of " production for | some years. The unit of naval stores is 1 cask of turpentine and 31-3 bar- rels of rosin. This now nets Georgia producers about $65. Georgia is the | ite_where production is in- creasing. The 1925 crop there is ex- | pected to yield $19,000,000, as agatnst $14,000,000 in 1924, Bound to Save Supply. Tt is feared that the high prices may lead to the cutting of many small| trees, but Georgia is determined that | the supply shall not be exhausted, and the South’s largest naval stores con- | servation project now is getting under | way near Waycross. The Timber Prod- ucts Co. there is working 26,340 acres of pine lands on which they are not toaching a tree less than eight inches tn diameter. | shipped | tarming | vear. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PHILADELPHIA, May 26.—Twen- tv-five locomotives built at the Baldwin Works for Brazilian railroads will be shortly. They will be fired upon shipboard and delivered under thelr own steam CLEVELAND, May 26.—Most of the iutomobile and automobile accessowy plants here report excellent business | ind express the belief that activity | will continue at a high rate this Summer. BISMARCK, M New York interests red options on_sev cres near here which are believed to | be underlald with lead deposits have commenced drilling operations. which recently al thousand | HOUSTON, May 26.—Grassy cotton is reported from many sections owing | to the continued rain. However, the | situation in Texas now is| more promising that at this time last TWO EXTRAS DECLARED. Motion Picture and Associated Gas Take Action. NEW YORK, May 26 (P.—An ini- iul dividend of 371 cents a share on the common stock of the Motion Pic- | ture Capital Corporation was declared today, payable June 15 to holders of record The regular semi- ment of 4 per cent on the preferred stock also was author- ized An extra dividend of 12% cents a share on the original series of pre- erred stock of Associated Gas and ctric Co. has been declared, in ad- dition to the regular guarterly dis. bursement of §714 cents, both payable July 1 to holders of record June 10. In place of the cash dividend totaling $1 a share, stockholders have the op- tion of taking one twenty-fifth of a ghre of class A stocksin script worth 6 3 at the closed market price on THE EVENING STAR, COTTON EXCHANGE HAS AN EXTRA BUSY YEAR New York Reports 46 Per Cent Increase in Amount of Cotton Handled. By the Associated Press. NEW YORK, May 26.—An increase of 46 per cent in the amount of cot- ton delivered on contract through dealings on the New York Cotton Ex- change last year was reported in the annual review of operations, made public today. Deliveries for the fiscal year ended April 30 totaled 842,500 bales, a gain of 271,600 bales over the preceding period. Under the adminjstration of Presi- dent Edward E. Bartlett, jr., the year was one of the most progressive and successful in the history of the ex- change, sald the report. Memberships reached the record price of $35,000, and the volume of business showed steady expansion. Among reforms in trading practice were listed the rule to suspend trad- ing for 5 minutes before and 15 min- utes after the issuance of Govern- ment crop reports and the decision to stop trading in the current month on the tenth day of the month. Both changes, it was sald, had proved sat- istactory. NEW METHOD ADOPTED. Agriculture Department Plans for Grading Linters. Federal grades for cotton linters will be issued by the Department of Agri- culture as tentative standards, effect- ive August 1 for one year, pending the establishment of permanent grades under the cotton standards act. The linters are the short staple fibers which adhere to the cotton seed after ginning and are removed by special machinery. There is an aver- age of about 22 pounds of linters to a ton of the seed. They are used in the manufacture of cotton batting. A market news service on f.o.b. prices on linters also will be establish- ed by the department. REXOLINF MOTOR OIL N Summer, on picturesque highways, as well as crowded city streets—the ideal lubricant for SHERWOOD every motor. BROS , Inc. J. R. KEENE, Digtridt Sales Manager Telephone Main 3904 306 Albee Building Painted Walls . are Good Taste N the House Beautiful of today the walls serve as a quiet background for yourfur- niture. There are no glaring, over-colored floral effects to cheapen the decorative scheme and to make the room seem crowded. PAINT your walls. Tint them harmoniously to produce a correct background. Use KNo-GLoss, the perfect wall paint. It dries to a soft, even tone and is easily washed with soap and water. Sanitary, beautiful and in good taste. Ask us about your walls today. Get color cards and information from these convenient dealers: Mitchell Hardware Co. 5000 Wisconsin Ave. N.W. Morgan Brothers 3001 P St. South East Hardware Co. 611 Penta. Ave. S. E, E. B. Rector 5443 Conduit Rd. Bass N.W. C.W. & Jones 4011 Eldridge Ave. Brentwood, Md. J. R. Lawrence Clarendon, Va. Hartman Suitland, Md. Leon Angerman Takoma Park, Md. Standard Plate Glass Company Manufacturers and.Distribugors 719-721 Seventh Street, NoW. wE CARRY A COMPLETE LINE OF STANDARD Wearyroaf PAINTS AND VARfiISll!S WESTERN MARYLAND’S EARNINGS IN JUMP Special Dispatch to The Star. BALTIMORE, May 26.—April was the most profitable month the West- ern Maryland Rallway has realized for a long time. Both gross and net earnings showed substantial increases, compared with the corresponding month a year ago. Operating revenues were $32,913 larger than a year ago. Operating expenses were cut $61,041, enabling the company to show an increase in net operating revenue of §3,954. Net income, after all deductions, was $51,492 ahead of the corresponding month in 1924. s S A PARIS MARKET UNSTEADY. PARIS, May 26.—Prices moved ir- regularly on the Bourse today. Three per cent rentes, 44 francs 60 centimes. Exchange on London, 96 francs 18 centimes. Five per cent loan, b4 francs 6 centimes. The dollar was quoted at 19 francs 78 centimes. i e BUTTER HIGHER TODAY. CHICAGO, May 26 (#).— Butter higher; creamery extras, 41%: stan- dards, 41%; extra firsts, 39%ad0%; firsts, 38a38%; seconds, $3a37. Eggs lower; receipts, 46,490 cases; firsts, 29%a80; ordinary firsts, 28%; storage pack extras, 32; firsts, 31%. LIVE POULTRY HIGHER. CHICAGO, May 26.—Poultry, alive, higher; fowls, brollers, 30ad5; roosters, 14%; turkeys, 20; ducks, 22; geese, 13. N g B RATES ON BAR SILVER. NEW YORK, May 26 (P).—Bar sil- ver, 67%. Mexican dollars, 52%. st Suads American firms may lay some of the 20 miles of streets to be paved in Wellington, New Zealand. 1,401,000 Acres Of Cotton Are Now Planted in Russia Russia has 1,401,000 areas plant- ed to cotton this Spring. ‘This represents a 17 per cent increase over the total area last year. Growing conditions are fa- vorable, the Department of Agri- o re is advised by the In.enational Institute of Agricul- ture which furnishes the figures. Russia .ranked fifth as a_ cotton producing country in 1914 but po- litical conditions and unfavorable weather during and following the war resulted in a great decrease in cultivation, which now appar- ently is being overcome. THREE BIG RAILROADS . IMPROVE EARNINGS NEW YORK, May 26 (#).—In con- trast to poorer April earnings report- ed by some of the large carriers than in April last year, the Missouri Pacific, the Wabash and the Erie, each came through the month financially strong- er. Mifouri Pacific's April surplus after charges was $343,099, against $291,485, and for the four months of 1925'$1,814,698, against $796.336. Gross revenues gained about $636,000 and net operating incomes $6,648. Net for | the four months increased $539,513 over the same period of 1924. EXPORTS SHOW INCREASE. BALTIMORE, May 26 (Special). Exports increased $161,714 and im- ports decreased $661,032 last week, cempared with the previous week, & cording to the report of Charles H. Holtzman, collector of customs. To- tal fmports for the week amounted to $1,063,864. Exports consisted mostly of coal, fertilizer, copper, grain, corn starch, zinc dross and tobacco, WASHINGTON, D. C, TUESDAY, MAY 26, 1925. WEST VIRGINIA COAL MINE SOLD FOR $13,000 Special Dispatch to The Star. MAIDSVILLE, W. Va.,, May 26.— The property of the North American Coal Co., near here, was sold by At- torney Terrence D. Stewart, trustee, to the Fielder Coal & Coke Co., of which Stanley H. Fielder is manager, for $13,000. The sale had been con- tinued several times because of inade- quate bids. The property was finally knocked down at §13,000, although the value of the personal property, im- provements and coal to be mined is placed at more than $50,000. OLD POTATOES UP. NEW YORK, May 26 (Special).—A trifie better feeling was apparent in the market today for old potatoes. Bulk No. 1 round whites were up to $2.00 to $2.15 per 180 pounds. As- paragus was weaker. The best large green stock brought $5 to $6 per doz- en bunches and the white variety $5 to $5.50. . DAIRY PRODUCTS. BALTIMORE, May 26 (Special).— Live poultry—Spring chickens, pound, 35a50; Leghorns, 30a40; old hens, 22a 28; Leghorns, 22a23; roosters, 15a16; ducks, 15a22; pigeons, palr, - 20a50; guinea fowl, each, 50a75. Eggs—Receipts, 1,024 cases; nearby firsts, dozen, offered at 29%a30. Butter—Good to fancy creamery, : prints, 44a46; ladles, 29a packed, 26; daliry prints, 26a 26a28; process butter, 33. pound, 39a4 30; store 28; rolls, NATIONAL POWER’S NET. NEW YORK, May 26 (). —National Power & Light Co. earned $16.18 a share on the common stock in 1924 against $13.86 a share in 1923. Gross earnings jumped to $22,886,444, a gain of 91 per cent. Net earnings were $18,063,330, an increase of 15 per cent BALTIMORE SHIP LINE BOUGHT BY BULL LINE Special Dispatch to The Star. BALTIMORE, May 26—The home port of the Baltimore Insular Line, Inc., formed yesterday by purchase of the majority of stock of the Porto Rico-American_Steamship Co. of Bal- timore by the Bull Line of New York, will remain here. That this city should retain the home port was one of the conditions of the sale, according to announce- ments by officers of the Porto Rico- American Co. The sale must be rati- fled by the stockholders. It is hoped to increase the business through Bal- timore by addition of new ships. DIVIDENDS COVERED. Otis Steel Reports Profit of $631, 400 in Four Months. NEW YORK, May 26 (#).—Otis Steel reports net profits of $631,400 for the first four months of 1925 after interest and taxes, but before depre- ciation, equal to $7.15 a share on the 7 per cent cumulative preferred, on which no dividends have been paid since July, 1921. Allowing for only the regular preferred dividends, the balance Is equal to 57 cents a share on the no par value common stock. Net profit for April, before depreciation, ‘was $308,137. DEFICIT IS WIPED OUT. NEW YORK, May 26 (#).—The | Greene Cananea Copper Co. had net income of $56,122 in 1924, equal to 11 cents a share on the capital stock, in contrast to a deficit of $155,932 in 1923. =T READING'S NET GAINS. NEW YORK, May 26 (#).—Nct op- erating income of the Reading Co. for the first four months this vear in- creased to $6,104,855, compared with $5,502,597 a year ago. April net wi 27 RAILROAD IN VIRGINIA IS SOLD AT AUCTION Piedmont, Fredericksburg and Po- tomac Brings $70,000—Buyer’s Plans Unknown. By the Associated Press. FREDERICKSBURG, Va, May 26.—The Piedmont, Fredericksburg and Potomac Rallroad narrow.geuge line, covering a 38-mfle route between Fredericksburg and Orange, was sold at public_auction hers yesterday to Georze W. Richards of Philadeiphiz for $70,000. Mr. Richards did not make known his plans, but & hearing before the State Corporation Commission will be held in Richmond on a petition for discontinyance, and indications are that the road will be junked. The elvet Kind ) ICE CREAM That a Nation May Enjoy “Foods of Finest Flavor” Bartlett Arkell President, Beech-Nut Packing Company To PRODUCE good food for a people is to aid in meeting a prime necessity of life— To give to this food a distinctive, fine flavor, is to contribute to a nation’s enjoyment of life— To achieve national popularity and sales through sheer quality of product is evidence of keenest executive vision and ability. And it was this high degree of business acumen that selected The Easy Writing ROYAL TYPEWRITER as standard equipment in the offices of the Beech-Nut organization. For in modern big business, where the saving of time and labor is of paramount importance, the untiring speed and enduring accuracy of the Easy Writing Royal Typewriter play a vital part. Royal Typewriters, by their speed, precision and easy-writing qualities, make a supreme contribution to the efficient administration of big business. They increase the human and mechanical efficiency of the modern office. TYPEWRITERS “Compare the Work” ROYAT TYPFWRITER COMPANY, Inc, Evans Building, Main 4103 Branches and Agencies the World Over