Evening Star Newspaper, June 8, 1925, Page 19

NORWEGIAN TRADE IN RAPID ADVANCE U. S. Commerce Figures Show Wide Range of Ex- ports—Crown Rises. BY J. C. ROYLE. The first Norwegian immigrant, the centennial of whose arrival is being celebrated today, brought interna- tional trade with him. And the flow of commerce between the United States and Norway has increased ever sine Until 1905 the figures showing the imports and exports to Norway and Sweden were combined by Gov- ernment_statisticians. In 1825 these combined figures showed imports to this country of $214,523 and exports from America of $1,128,256. In 1924 imports from Norway alone had reached $21,000,000 and exports to that country $23,000,000, and so far this year both imports and exports have moved at an even better rate. Gradual Increase in Trade. ‘While the extremely large, Ing the possibilities which lie in fu- ture commercial relations, are putting forth consisterit efforts to further im- provement. Trade with volume of trade is not Norway even prior to the World War was a steady faetor, with imports and exports each rang- ing around $8,000,000 a year, with the balance of trade slightly in favor of v. The fact that this commerce not more extensive was due to the lack of a regular steamship route between the two countries. With the establishment of a steamer service from New York to Norwegian ports in 1914 a gradual increase took place. During the World War the difficul- ties incident to the struggle deflected 1rade, but With the declaration of peace Immense quantities of materials were Imported from this country by Norway. In 1919, according to officlals of the Department of Commerce, these an exports totaled over $100.- . and in 1920 were not much smaller. These years, however, were not normal. Crown Advances in Value. The present return to normal move- ments has been due, according to Gov- ernment officials, to the advance in the value of the crown, which has enabled Norway to buy advantageously here, and to the industrial expansion of Norway, which has made available larger quantities of Norwegian prod- cts for export. The increase in the rweglan merchant marine has prompted this interchange of goods. There are now five established steam- ship lines between Norway and the £ coast of America and two s lines from Norway to the Pacific coast. In addition, the United States lines participate in the carry- ing trade between the two countries. Trade Expansion Seen. ‘Thus every facility is available for owth of commercial intercourse and seems natural to expect trade re- lations will undergo constant develop- ment from this time on. The United States supplies a wide range of prod ucts to Norw: Among the most important are rye, wheat, wheat flour, sugar, cotton, fruits, lard, to- bacco, petroleum, rubber goods, cop- per, automobiles and certain types of machinery. Norway in her turn sup- plies the United States with huge quantities of wood pulp (about 7 per cent of the total American imports), paper, cement, manganese and ferro alloys, aluminum, nitrogen fertilizers, matches and large quantities of whale oil The outstanding occurrence this vear in the trade relations of Nor- ay has been the appreciation of the Norweglan crown, which has risen from an equivalent of 13 cents in July, 1924, to 18.9 cents. This in- creasing stabilization is behind the effort of the Norweglan government to secure a loan of $45,000,000 from American banking interests SWEEPING CHANGES IN TRADE CURRENTS Growth of Commerce With Non- European World Most Striking Feature. By the Associated Press. NEW YORK, June 8.—Change in the trade currents of the United States since the beginning of the World War are shown by a comparison of figures of fmports and exports for the cur- rent fiscal year with those of 1914, the National City Bank reports. American trade with Europe has shown a natural expansion, but_the most significant development has been the growth of trade with the non- Furopean world. Exports to Europe have increased approximately 91 per cent, while those to all othter parts of the world show gains of 149 per cent. At the same time there has been an enormous increase in imports from Asia_and South America, with Europe supplying 2 smaller percentage of to- tal imports than it did before the war. BUSINESS PICKS UP IN BALTIMORE AREA pecial Dispatch to The Star. BALTIMORE. June 8.—Optimism among manufacturers and merchants in the Baltimore district continues to rise. Increase in distribution is not large, but the slowing down in activi- tles which started in March has been checked, and tra again going forward, s leaders. Retail tra rted better than it was at thi son in 1924, Labor is more, gener employed than it was then. Profiting by their experience dur- ing less “flush” times, workers are setting aside a larger proportion of their earnings. This is reflected in sits_in ving_banks. lly Blotches ugly and embarrassing can usually be dispelled by a few applications of Resinol Ointment so don’t let a pimply, unattractive skin shut you off from admiration or pleasant associations. The healing ingredients of Resinol help it to soothe away blotches, redness, roughness, etc., so quickly and easily thatithas become a standard treatment ) ¢ for those in search of ekin health. At all drug stores Resinol| both countries, realiz- | Unfilled Tonnage Of Steel Is Near To Recent Lows By the Associated Press. NEW YORK, June §.—Unfilled tonnage of the United States Steel Corporation is reported to be within 1,000,000 tons of the lowest level it has reached in' years. The finan- clal district expects that figures for May to be made public next Wednesday, will show not much above 4,000,000 tons. The average price of eight leading products is placed at $52.11, only 57 cents a ton above the low record of 1924. The future course of steel stock usually is based on these barome- ters of the industry. FRANGS IN JUNP ON HEAVY BUYING Minister’s Threat to Use Big Morgan Credit Halts Severe Deeline. By the Associated Press. NEW YORK, June 8.—Speculative buying of French francs, based on the announcement that Finance Min- ister Caillaux would bring the $100,- 000,000 Morgan credit into play to protect the currency, promoted a brisk rally in the exchange at the opening of today's market. An In- itial gain of 6 points lifted the rate to 481 cents, compared with last week's extreme low of 4.65% cents. The early deallngs gave no indi- |cation that the credit was being used for actual purchases of the cur- rency, but the mere warning that it would be used for protective pur- poses caused a flurry of covering by those who recall the severe pun- ishment meted out to shorts when the fund was first established, in March, 1924. The announcement at that time checked a raid which had driven the franc down to a record low, at 3.42 cents, and within a few weeks sent the rate soaring to above 6 cents. Subsequently the franc fairly well established between 5 and 5% cents, until France's recent financial difficulties started another wave of seliing. —_ SOVIET RUSSIA CLAIMS MARKED ECONOMIC GAINS By the Associated Press. Marked economic gains for Soviet Russia are reported by the Russian Information Bureau here for the first half of the current Soviet fiscal year, from October 1 to April 1. )&Kross industrial output is said to hdve increased 44 per cent over the previous half vear, while the domes. tic trade turnover increased 58 per cent for the same period. Foreign trade is reported to have increased $25,000,000, amounting to $238,000,000, with an adverse trade balance df $1,000,000. The figures are described by the bureau as proving that Soviet Russia “has passed the stage where even a bad harvest can halt the general economic revival.” became EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Motor Competition With Rails. One problem continually perplexes the investor in railroad securities, and that is the effect of motor car competition on freight and passenger business alike. It cannot be denied that this competition is very real and that it is destined to increase. The question is whether it will go’ =0 far as to threaten the investment status of what are now conservative railroad stocks and bonds No definite answer can be given but some considerations can be ad- vanced which may be helpful. In the first place, the motor car is a more dangerous competitor of raflroad as a passegger carrier than as a conveyor of freight. There is a pretty steady falling off of passen- ger traffic by rail in practically all sections of the country. The excep- tions are op roads having a heavy commuter traffic and on those car- rying the larger long-distance travel. Passenger receipts, however, are only a minor part of railroad gross revenue. The vital matter is the abllity to produce freight traffic, and here the situation is much more re- assuring. Fortunately, we have an accurate index of the trend in this respect, which is available to all. Every week the railroads publish Wwhat are known as the car loadings records; that is to say, the number of freight cars loaded with revenue- paying freight in that seven days. There is great variation in these fig- ures from week to week and from year to year, so much so that they have come to be considered an in- dex to business conditions and the state of trade the country over. These fluctuations are studied with minute care by those who make it their occupation to forecast the ups and downs of industry. The investor finds them valualje in charting his course also. “When, however, the longer periods are considered, it is found that the demand for the freight-carrying services of the railroads is increas. ing and that there is no sign what- ever that the motor truck will dis- place the locomotive ‘except for short distances and in limited fields. In- vestors may set their minds at ease on this point. (Copyright, 1025.) TABLETS For Sick headache, dizziness, sour stomach BE WELL! The greatest § enemy to good health is Constipation, and for 40 years Dr. Boice's Prescription Tab- lets have proved effective against this scourge. E GENTLY, mildly, but / firmly, these tablets act on the bowels and cause healthy normal action. ) They put the stamp of health in your cheeks, and effi- ciency in your work. Take one tablet tonight, and note the difference - in the morning. Get a box at PEOPLES or other good drug stores, and do it NOW. Oaly 25 genta. the | THE EVENING STAR, WASHINGTON, PRICES VERY FIRM AT GENTER MARKET Nearby Vegetables in Great Danger From Present Heat and Drought. Results of the continued hot and dry, weather are reflected in the local produce market. Reports from nearby Maryland and Virginia farmers con- tain’ discouraging stories of prospects of crops of vegetables for the Mid- summer and early Fall trade. _ One discouraged farmer this morn- ing reported the absence of rain and cooler weather the next day or two would mean the loss of practically all his growing crop of vegetables. Inactivity in selling continues, ac- cording to dealers, chickens being about the only thing in demand, and the prices are so high that many buy- ers pass them up. Dealers reported today's prices sub- stantially the same as at the close of market last week. Today’s Wholesale Prices. Butter—Fancy, tub, 61; prints, store packed, 22. Eggs—Fancy, selected, candled, 33a 35; average receipts, 31a31% Poultry — Alive —— Brollers, 45a48; v v fowls, 26a 52; 5; turkeys, 23a: turkeys, 28a32; Live stock—Calves dium, 10a11; Jean, 8! 13%a14. Live hogs, Meats—Beet, 17al lambs, 30 hogs, 21%a hams, 26a28; shoulders, 18a20. Fruit md Vegetable Review. Today’s market report on fruits and vegetables, furnished by the Market News Service Bureau of Agricultural Economics, said: Cantaloupes—Supplies moderate; de- mand good, market weaker; California, Imperial Valley, Salmon tints, jum- bos, 45s, 7.50a8.00; jumbos, 36s, best, mostly 7.00; standards, 458, 7.00a7.50; standards, 36s, 6.50a7.00; jumbos, 24s and 27s, 5.00a6.00; some overrripe, soft, 50a1.00 less; jumbo flats, 9s and 12s, 2.25a2.50; standard flats, 12s, 2.25. Cucumbers—Supplies light; demand moderate, market steady; Virginia, Norfolk section, hotbed stock, bu. crates, fancy, mostly, 4.50; choice, 2.75 a3.00; South 'Carolina, sq. .bu. crates, ‘White Spine, 2.50a3.00. Onions—Supplies light; demand lm- ited, market falrly steady. New stock, Texas, standard crates, YelloW Ber- mudas. United States No. 1, mostly 4.25; old stock, Egypt, approximately 100-1b. saek Yellows, 6.25a6.50. Peaches—Supplies moderate; demand good, market steady: North Carolina, sixes, Alexanders, 3.00a3.50; Red Bird, best, 4.50a5.00; come slack pack, 4.00. Potatoes—New stock, supplies liber- al; demand moderate, market weaker. North Carolina, cloth top stave bar- rels, Irish cobblers, United States No. 1, best mostly, 4.50; Virginia or- folk section, and North Carolina, cloth op stave barrels, Irish cobblers, some edium size, 3.75a4.00. Strawberries—Home grown, receipts | very light and supplying the market Tomatoes—Supplies liberal, demand | good, market about steady; Mississip- pl. fours ripes and turning wrapped, :I\o 1, mostly around 2.00; No. 2, 1.75. String Beans Cheaper. Waterbellons—Supplies moderate; de- mand moderate, market steady. Sales direct to retailers—Florida, Tom Wat sons, 28-30 pound average, 1.10al.25 4-26 pound average,90a1.00: 22-pound average, some spotted, 60a75> each. No_carlot sales reported. String _beans—Supplies moderate; demand light, market weak: North and South Carolina, bushel hampers, green, 1.50a22.00; some ordinary con dition, low as 1.00; North Carolina, 5- peck hampers, green, 2.50a3.00, Peppers—Supplies light; demand light, market steady: Florida, pepper, crates, fancy, 2.50a3.00; some wasty low as 2.00 Eggplant—Supplies moderate, ma per, crates, spotted, refu Squash—Supplies moderate; demand limited,.market slightly weaker: South Carolina, bushel hampers, white, best, 1.75; some fair quality, low as 1.25. Dewberries—Supplies limited - mand good, market steady; North Carolina, 32-quart crates, best, mostly 5.00; poor condition, 3.00a4.00. MAY CUT OIL OUTPUT. NEW YORK, June 8 UP).—Condi. tions in the Smackover oil field indi- cate a sharp drop in production with- in the next few weeks, the signifi- cance of which is said to be the heavy buying of oil by several large companies. Present production in the fleld is above 325,000 barrels, and in some quarters it is believed that a drop to 100,000 barrels in a month or 80 is not unlikely. d—Fowls, 30; choice, 10%; me. Lambs, Spring, 12, veal, 18; light: demand et steady; Florida, pep- ; few, 3.5 stocks), where all traded-in of the especially for us b; pany. Prices aren’t high, top icers may be had for as BARLEY YIELD BELOW PRE-WAR AVERAGE World production of barley is still considerably below the pre-war aver- age, the Department of Agriculture estimating today that the 1924 total, outside of Russia and China, was 1,215,000,000 bushels, a decrease of 114,000,000 from the 1923 figure amnd approximately 130,000,000 less than the pre-war avarage for 1909-13. The present outlook, however, is for better crops, which may offset the effect of reduced acreage of 12 countries which last year produced 30 per cent of the crop outside o outside of Russia. RAISE N FREIGHT RATES IS REFUSED Railroads Operating in Vir- ginia Lose New Rate Ap- peal Made to I. C. C. By the Associated Press. Proposed increased class freight rates from Virginia cities and points with the same rates to destinations on the Charleston division of the Baltimore and Ohio Railroad were held today by the Interstate Commerce Commission | : [to be not justified. The new rate schedules were filed by the Chesapeake and Ohio, the Nor- folk and ,Western, and Richmond, Fredericksburg and Potomac railroads, |and were opposed by the traffic bureau pring | loins, 31a82; | of the Chamber of Commerce of Lynchburg, Va. The rates which the commission or- dered canceled were to apply from an |origin group of points including sta tions on the Chesapeake and Oklo Railroad east of Gauley Bridge, W. Va., to Norfolk, Va. N'EW STOCK ISSUE SOON. NEW YORK, June 8 (#).—Public offering will be made shortly of a new issue of 100,000 shares of the class A stock of Hunt Bros. Packing Co., which has been bought by a banking syndicate headed by Pyncheon & Co. Hunt Bros. operate nine canning plants' In California, Oregon and Washington. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY FRANCISCO, June 8.—Direc- of the California Grape Growers | Exchange have fixed minimun prices [ror the 1925 opening at $25 to $85 a ton, covering eight classes. ATLANTA, June 8.—Tender crops are withering and streams are drying up in the Southeast owing to exces- sive heat. Cotton is the best able to withstand a protracted drought at this season. Cane and potato crops are suffering. It is estimated Georgia's peach crop will be cut 1500 carloads by lack of molsture. DENVER, June 8.—The final figures on 1 sugar beet acreage compiled by the Great Western Sugar Company shows 207,200 acres planted, or 30 per cent less than in 1924. The drouth may seriously affect the crop if it is not soon broken. READING, Pa., June 8. —Hosiery mills here are continuing to increase their pay rolls, owing to the heavy volume of orders coming in. WICHITA, Kan., June 8.—The whir of the binder is being heard in southern Kansas as harvest hands are gathering the first of the 1925 crop. McCormick Medical ~Glasses Fitted Collese Eyes Examined | Graduate Dr. CLAUDE S. SEMONES Eyesight Specialist Phone Main 721 407,410 McLachien Bide, 10th snd G Sts. N For Burning Eczemi Apply Zemo, Liquid— the Antiseptic sy to Use. When applied as directed Zemo effec- tively removes Eczema, quickly stops itching, and heals skin troubles, also Sores, Burns, Wounds and Chafing. It penetrates, cleanses and soothes. Zemo |is a clean, dependable and Inexpensive antiseptic ~ liquid, that is especial not show. 35¢, large size $1.00. Zemo Soap, antiseptic and heal- ing, 25c. All druggists. $Sforyourold Refrigerator IS trade-in feature of our business is made possible . because of our exchange department located in the basement of our store (entirely separate from regular goods are disposed of . Just now you'll find a complete showing on our floors celebrated American the Gibson Com- Home Refrigerator—made either, for s ‘N' little as.... 1 0:__ Accounts Payable Monthly Phillip Levy & Co. 735 7th St. N.W. UL L UL RLRYRM L i LF hehshehh RYhththYhHh YRR hahs l T b i i b i L 1 A £ L A L L RYRRtRYAHRAAY hY HhRththththththl ELELEUELE by e b Oven Baked Beans, 3 Cans, 23¢ 19 o g b g hthththY Here’s Another New Store Which will be opened Saturday, June 13th, at East Main St., Orange, Va. To allow our Managers and Clerks a vacation commmenc- ing with Wednesday After- noon, June 17th, our stores will close at I P.M. throughout the Summer months. An ex- tra Wednesday Special will be offered each week. Don’t forget to shop early on Wed- nesday. Special attractive offerings will be made, and free samples will be given with each purchase. A&P Brand i Iona Brand Ketchup, 8-0z. st Oct Beverages 4 Bottles . . . 25¢ or “Aged in the Wood” 5 Bottles e - 26(: orn Flakes, 2 Pkgs., Light or Dark Abner Drury (g] | SRR Rt AR R R A R R h AR R YRth YRRt R thtRth! Newly Processed Piccadilly Loaf Cheese Sandwich size and Shoulders o paned Soap Lb.37c 6Cakes25c L. 17¢ iy O AR IR ) ey (R REE T BB UL o Evaporated Milk = 3 Cans, 25¢ 8 0’Clock Coffee :&: w.39ct Timely Breakfast Beverage” 11b., 6ic 10 lbs. ..63c 100 Ibs., $6.25 P&G Naphtha Loffler’s Sugar Cured Smoked % 5 - [ - (S p | (gr) A&P Brand RtRtRtRtRth AR RtR AL thththth : Granulated Sugar Delicious when : Thea Nectar Teas == & = (= g >~ 13 ik © (¢ RtAtRththR Sultana Brand (Apple Base) Jelly Christo, Coca-Cola and NuGrape Beverages (Assorted” Flavors) Constantly kept on Ice in our stores for your “When it rains it pours.” w12¢ Bottle B¢ e 10c bt - Sliced Peaches s« 15¢ Monte National Biscuit Co. Zu-Zu Lemon Snaps Cheese Tid-Bits Vanilla Wafers Uneeda Lunch Uneeda Biscuits Morton’s lodized Salt (Free Running) A&P Brand Mayonnaise Salad Dressing bottle llc Pacific Brand Toilet Paper Thin Crepe Tissue Roll, 5¢ ATLANTIC & PACIFI " Finest lmported 12-0z. Bottle 256 TEA Co b b b B D e B D i D B B GREAT b g p Rt