Evening Star Newspaper, June 15, 1925, Page 27

SUGAR MEN FACE 105 0F HLLON Immense Cuban Crop Blow to Industry in U. S. Dividends Cut. BY HARDEN COLFA.X Cuba's great overproduction sugar this vesr has turned to bitter- ness the lot of the American sugar producer. His profits of the past have melted to the vanishing point. Many domestic cane and beet pr ducers have cut their dividends by half or more; others are finding it necessary to forego dividends alto- zether; still others face heavy losses. As a sidelight, losses of millions in Government reclamation projects are threatened, and growers hardest going they have encountered for years. Blow to Domestic Industry. Such are the somewhat dismal ad- vices to the trade’s headquarters here and the governmental bureaus directly interested in promoting the domestic sugar industry. The unpre- cedented output from Cuba, dominat- ing the American market, has dissi- pated the profits of the entire do- mestic industry, it is claimed. Many Cuban growers are reported to be making money, although not on so large a scale as formerly. Latest New York quotations on Bugar have ranged between 4.43 and 4.46 cents a pound. delivered and duty paid. Latest available figures, com- piled by the Tariff Commission and covering operations in 1922, show that the production and marketing costs of various kinds of domestic sugars are approximately as follows: Porto Rican sugar, 4.31 cents; Hawaifan sugar, 4.49 cents; Louislana sugar, 4.98 cents; beet sugar, 6.64 cents. With Cuban sugar selling in Amer- ican markets at 4.43 cents a pound wnd American beet sugar costing 6.64 cents to produce and market, it doesn't require an expert accountant to figure the losses to the beet in- dustry. They probably will be colos- sal this vear, and will be reflected down to the grower. The figures cited above are three vears old, but they are the latest available official information. and representatives of the varlous do- mestic producers, located in Wash- ington, assert that their costs today are virtually the same as those cited above On the other side of the picture, Cuban factory and marketing costs during 1922 ‘were reported to the Tariff Commission as approximately 2.37 cents a pound. Since then, how- ever, one of the largest Cuban sugar factors, the Czarnikow-Rionda Com- pany, has made public (within the past two weeks) a report stating: ““While no definite figures have been determined, it is generally admitted that the lowest price at which the most favored Cuban plantations can \place a pound of 96 degree centrifugal sugar f. 0. b. steamer is 235 cents; others not_well situated or having higher cost of cane must have 2% cents to cover their initial cost. Still others, among the smaller plants, need 3 cents to come out even.” To these figures should be added the transportation and duty of 1.76 cents a pound. When that is done it would seem to show that only the most “fa- vored” Cuban producers can break even at present prices, and that smaller or less favorably situated plants in Cuba face a slight loss in yihe prevailing American market. The Czarnikow-Rionda report has aroused much Interest among do- mestic sugar producers, who, in many cases, question the accuvacy of the cost figures. (Copyright. 1028.) CHICAGO POULTRY PRICES. CHICAGO, June 15 (#).—Poultry, alive, unsettled; fowls, 25a26; broilers, 30a41; roosters, 13; turkey ducks, 22a30; geese, 13a2: of face the Record-Breaking Building Booms On in 36 States Specinl Dispatch to The Star. NEW YORK, June 14.—Build- ing activities throughout the country continue at a record-break- ing rate, F. W. Dodge Corporation reports, contracts awarded in May in 36 States, about seven-eiginths cf the country's total construc- tion, aggregating $496.024,100. This was' the second highest monthly total on record, having been ex- ceeded aply by the month before. Construiction started in the first five months of 1925 was valued at ®2,119,564,000, an increase of al- most 10 per cent over the same period of 1924. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Mortgaged Homes. One of the large real estate mort- gage bond houses recently made a survey of the number of mortgesed homes occupied by owmers compared with those held free and clear. The result showed that in all but six States there are more homes free of debt than there are carrying mort- gages. The six States in which verse is true are New York, New Jersey, Connecticut, Massachusetts, Rhode Island and North Dakota. All these States, except the last named, are Bastern commonwealths and sup- vosedly the richest and most pros- perous in the country. The States which have the smallest proportion of their homes under mortgage in- clude New Mexico, Florida, Kentucky and Alabama. Probably these differences repre- sent the varying attitude of the people of these sections toward bor- rowing money for home building. There are, of course, exceptions to rule, but for most wage earn- and professional men with small income no valid objection can be raised toward borrowing money in conservative amount for the purpose of owning one’s own home. It is bet- ter to pay interest on the mortgage than to pay rent, provided along with the interest payments you can pay Qff a part of the principal. The build- ing and loan association plan makes this reduction in principal obligatory and so enables people to save who would never save any other way. The situation is a little - different when the mortgage is placed on a home already constructed. Then evervthing depends on the object for which the money is borrowed. Each case must be considered on its merits. There is also room for a dif ference of opinion as to the proper course about paying off a mortgage when one has funds in full which would be applied to that end. Most people prefer to liquidate the mort- gage, but there is something to be said on the other side. If the same amount can be invested in readily marketable securities to return about as much in interest or dividends as the charges on the mortgage it gives a desirable diversification of invest- ment. It is much easier to dispose of one or more of the securities than it is to put a new mortgage upon real estate. the re- (Copyright, 1925.) A merchant fleet corporation has been organized in Warsaw, Poland, to establish water service between Dan- zig, Hamburg, Amsterdam and Lon- don. SEE ANNOUNCEMENT TUESDAY’'S AND SATURDAY'S STAR. THE EVENING STAR, WASHINGTON, D. C, MONDAY, KEEPING UP WITH THE JONESES—Clarice Will Talk. WELL ALOYSWS P OING T© BE cUT BUSINESS IS GOOD IN BALTIMORE AREA Textile, Steel, Lumber and Fer- tilizer Plants Busy—Retail Trade Heavy. Special Dispateh to The Star. BALTIMORE, June 15.—Industrial conditions in the Baltimore district are described as satisfactory from practically every angle. Textile mills are not as active as their management would like, but they are producing and marketing more goods than they did a year ago. Mills engaged in the manufacture of finished steel and iron and kindred products are operating on full schedule. Lumber mills also are busy and the same is true of fertilizer plants. Seasonal weather has stimulated re- tall trade. Clothing, hats, shoes and other apparel are moving at a satis- factory rate. Department stores with- out exception report that the volume of business at the present time shows a substantial increase compared with the corresponding period a year ago Prices, however, are low and the margin of profit, except in a few lines, is smaller than it was last year. LONG LIST OF STOCKS SELLS EX-DIVIDEND NEW YORK, June 15 (®.—A large list of stocks selling ex-dividend today included American Locomotive com- mon and preferred, Coca Cola com- mon and preferred, Gulf States Steel common_and first preferred, Hudson Mot, Independent Oil and Gas com- mon, Mack Trucks common, first and second preferred; Pere Marquette com- mon, St. Louis-San Francisco com- mon, Simms Petroleum, United States Tobacco common, Youngstown Sheet and Tube common, Simmons Co. and Western Pacific Rallroad preferred. } For pep, = eat PEP. Keepschil- == dren and grown-ups happy and peppy. A cereal chock-full of health-building ele- ments—and marvel- ous flavor. Your gro- cer has PEP. Ready to serve. o the peppy bran food ANS NV A/~ 7 NS SV~ 7 A8 S NY W inners IN W hite! g SHOES Entrancing pumps to win miration—and miration FOR you! Jor White Kid YOUR ad- to win ad- Simply astonishing at— ‘WOMEN fi o v | A material that’s sma brilliantly ready this famous line only FIVE NINETY FIVE! d ND every other idea, color, style, rt, in at 2, i, . Cor.7th &K Sts. 414 9th St. N.W. 1914-16 Pa. Ave. 233 Pa. Ave.S.E. DONT ANNOY NE DEAR HEART-. DOH! SEABOARD’S TRAFFIC UP. Carloadings Ahead of Same Period Last Year. Special Dispatch to The Star. BALTIMORE, June 15.—Carloadings moved by the Seaboard Air Line dur- ing the first week of the current month were 44,078, compared with 39,579 for the 1924 perlod. Freight traffic of this road has been running consistently ahead of last vear every week during the last few months. Loadings throughout the month of May showed about the same per- centage of increase as is being main. tained in the present month. May loadings were 11.6 per cent ahead of the same month last vear. ROAD'S INCOME IMPROVES. NEW YORK, June 15 (#).—The pamphlet report of the Gulf, Mobile and Northern for 1924 shows total assets of $30,699,438, and profit and loss sur- plus of $3.777 Current assets were $1,420,261, and current labili- tles $1,169,397. The income account previously published showed $9.83 a share earned on the cumulative pre- ferred on which back dividend amounts to 22§ per cent, compared HOw DOES SHE EXPECT e To CONCENTRATE WIMH HER PICKIN On ME OLL Day!! TLL 6O OVER AND ST In WESTLAKE PARK, WHERE, TS QUIET, AND €L \F THERE ARE Awy J0BS with $8.24 a share in 1923 besa Twe Sore INFLUENTIAL ™Ew W VIRGINIA STANDS THIRD IN APPLE SHIPMENTS From July 1, 1924, to May 16, 1925, Virginia-apple growers shipped 13,026 cars of apples, according to a report of the United States Department of Agriculture. Virginia was the third State in the number of cars of apples shipped. ‘being led only by Washing- ton with 24,735 cars and New York with 16,563 cars. The apple-shipping season in Virginia runs from July 1 to May 31. CLOTH SALES JUMP. Week's Reported Largest for Gonsiderable Time. NEW YORK, June 15 (P).—Fall River sales of print cloths last week reached 100,000 pieces, the largest for some time. Southern print cloth mills are not likely to curtain production in June and July, it is sald, as they are closely sold on the more staple numbers. The demand for cloths was moderate. Yarns were quiet and fir- regular. ush fabrics continued in good call for immediate use, the printed lines leading. PARIS BOURSE UNSTEADY. PARIS, June 15 () —Prices moved Transactions W (Or YES \NpeED! ™ Poor ? HINUTE TO HMBELF! @veay BEcowD Of i3 DIRECTORY MEETINGS, CONFERENCES AND BIF DEALS ' THIS AFTERNOON HE IS STTTING \iTH “STANDARD” IMIMO;IOR OILS “STANDARD" [Polris] MOTOR OILS for FORD cars \ . 5 / TAN DAR% | _—_— Black Knight quality WMI&MMMMM“ Black Knight’s leadership amang these better coals is in- dicated by the fact that the production of Black Knight has been actually incressed during a period when one-tbird of the coal If you are not & Hlack Knight user, phone or write our Black Knight specialist for interesting data. James E. Colliflower & Co., Inc. Black Knight Distributors 907 15th Street N.W. Phones Main 5330, 5331, 5332. Clarendon 393. Unhesitatingly recommended for any steam, vapor or hot-water heating plants. Start the Day RIGHT ENO is the prifemld ]imtlve of many discriminatin; art of the world. A!m’;:o P:he:-.‘:ef‘yd«:h" of ENO in a glass of water, hot or col first thing nomingNil a cherishe rule for healthful living. ENO promotes thatinner dnn!km: vhirh is nee“uu; of T T ey . Take BNO FIRST THING IN THE MORNING ENO ™ THE WORLD gfiemacer?umgau At All Druggists 75c and $1.25 Salos Agowts : HAROLD F. RITCHIE & CO., Ioe., 171 Madison Aveaus, New York Torouio Sydney Wallingten Poapared only by J. C. ENO, Limited, Loadon, Englend JUNE 15, 1925. $42,000,000 BALANCE FAVORABLE TO U. S. Commerce Reports for May Show Falling Off in Both Exports and Imports. BY POP MOMAND NEVER HAS A 15 FILLED WITH of THe MosT By the Associated Press ixports from the United States during M £370,000,000 and imporss were $328,000,900, leaving & balance of trade favorable the United States of $42,000.000 Foreign trade figures for month as given out today by the Commerce t showed substantial in | creases over the same month of 1924 | when imports were $3 91 and exports $335,098,701. At the same time both the exports and imports were less than for any month since last November. For the fiscal year to date the United States has exported $112,274,- | 691 more in gold than it has impost centimes. Five per cent loan, 53|ed, while for the same period in 1924 francs 20 centimes. The dollar was|imports were $381,905,595 greater quoted at 20 francs 75 centimes. than exports. BARGAINS A LITTLE USED—BUT NOT ABUSED The prices quoted in this ad seem too low—but we must make room in our Exchange Department. trregularly on the Bourse today. Three per cent rentes, 44 francs 10 centimes. Exchange on London, 100 francs 82 Delivers Any Article Advertised Here Come early, as in many instances there:is only one article of a kind. Terms as Low as $1.00 a Week $ $ —Large quartered wardrObe oak, with double doors and two drawers beneath, will be sold for only $9.85. Deliv- Couch Hammocks —Gray Couch Hammocks, $ I plete with stand, will be sold for only $9.95. Delivered for : ¢ _—Osk Morris Morris Chair %, o blue velour seat and back cushion, will be sold at the sacrifice price ot, $1.95. Delivered for —Large Size Oak Ice Chests™;ir ;e % be closed oyt for as little as $3.95. Delivered s P i & —Gold Seal Congoleum R“gs Rugs, in large room size, will be sold for as little as $4.00. Any rug delivered for — Oak Sideboard, Sideboard — 0k S linen drawers, fine plate-glass mir- $ ror, will go for only $9.85. Deliv- P R y ° — Ameri- Vanity Benches—*™" ‘Walnut, Cane Seat Bedroom Benches, worth $8.50, will be sol for $2.95. Delivered for. SR . e —Round Oak Dlnmg Table E x tension Dining Room Table will be sold for as little as $1.95. Delivered e — Fiber Baby Carriage 0% Baby Carriage, with adjustable hood and artillery wheels, will be sold for only §9.95. Delivered for. . Living Room Outfit —Three-piece M-hnnni and Tsp- estry Living Room Sulte, consist- ing of settee, chair and rocker; large size library table and 8x10 Summer rug and an attractive floor lamp and shade, wil} be sold. complete for little as $74.50. Delivered for. $ |—Double Size Day Day Bed 3% omme can walnut finished ends, with cane panels, covered with attrac- tive cretonne. Exchange Store price only $12.95. Delivered for. ... J ~—American Wal. $ Chifforette 2 oo left over from an expensive bed- room suite, will be closed for only $16.95. Delivered for. ® —Two-tone Ameri- Chifferol can Walnut Chifferobe, left over from a fine bedroom sulte, sold originally for $59.00. Exchange Sale price only §2950. Delivered for...... ...... ° ~—Large T Refrigerators = I Refrigerators, taken by us in trade, will be closed out for as little as $3.95. Delivered for.. ,—Slightly used Coal Rang” No. 8 Coal Ranges, complete with warming closet, guaranteed to give the same service as a new range. $80.00 values for as low as $29.50. De- Bvere@ for:.,..... .. .00 .. L * op—Light Mahogany Chiffonier Grironier i bevelled edge mirror, will go for only $4.95. Delivered for. — Polychrome Floor mes Floor Bases, values from $10 to $20, will be sold for $4.95. Delivered for Card Tables 1o, new samples, green leatherette tops, will go for only $1.69. De- livered for o . — Large Library Tables ~gpes Library Tables, either golden osk or mahogany, will be sold at the sacrifice price of $6.85. Any table delivered -for Bedroom Qutfit™ = Osk Dresser, a Double Simmons Bed, Guarantced Link Spring, 50 Rol Mattress, 2 - Allfeather Pillows will be sold . Delivered TelephoneStand =" any Telephonic Stand and Chair to match—sold a short time ago for $20.00—in excellent condition, for only $9.95. Delivered for.......... $ ‘Reed Living Room 4 —Baronial Brown Reed Suite Fiber Suite, with 6.ft settee, wide arms, spring sea loose cushions covered in apestes and_two large rockers fo maten. A 72inch reed davenport fable goes with this suite. Price alto. gether $79.50. Delivered for °* ~—Double Size Bed Springs e s guaranteed in first class condition, will be sold for only $24.50. De- livered for $ — Quartered 0Oak Bookcase ~ S son case, In excellent condition, will be sold for only $24.50. Delivered for . $ EflS@H ANIGHE HILL(P - P R . Pl . (RS, S . 0 e 1 — Mahogany Phonograph — Jiosry Phonograph, guaranteed in first clags condition and will play any make of record. Exchange Store price, $34.50. Delivered for. o —Full Sive Bed Davenport ;" > Davenport, covered in brown leath- erette, will be sold for only $16.95. Delivered for tpe—0dd Living Room Chairs Gain" s Rockers will be sold for as little as $3.50. Delivered for.. ek pud pnk pomnd ek e ped ek peed el ODEPARTMENT EV -~ v