Evening Star Newspaper, January 8, 1926, Page 27

FINANCIAL. PRIGES HOLD FIRM AT CENTER MARKET Butter May Advance Here in Few Days—Beef Un- changed Today. showed a tendency to assume Mar- in view nd at Center olesale houses today > n prices in the New Chicago markets, althousgh locally whole today level, with orded. todaty and s a was little, were as 's Wholesale Prices. Fancy 1-pound 50a52; store packed, Average receipts 5 hennery, 43a4 Turkeys, prints, 5 40a45. 38; stor top. 45a wis, 28a , 25a27; geese 260; Tabbits, top, 120, Dressed Spring chickens, ducks, 28 ; fowls, geese, 30 he ¥ ht. choice, eat egetable Review. on fruits nished Dby the Bureau of Agri- says steady: A2y some rket Toda and veget Market News Servi cultural F i de- mand 1 b rels, M inches 526.50; York, 50; boxes, large siz 3.50a3.75 mostly bushel )ad ious y0a3 Romes, repoi moderate; de- dy; old stock, Danish type, Florida, 114- type, most- lies ed bushe! nd few dem: 1pplies e, market Tceberg type, Im a 4504 4.00a4.25; other sectic linary to fair quality, e Icebers 1.00 shel ordinary t eratel type, Florida, h.mn ers, quality, pe, demand in, In- y0-pound States No. 1, New lows, United ind 8.25 upplies moderate: ie pound sacks Ru No Supplies Prices Today. Suppltes modera market_ steady hel hampers, other, Other Supplies moderate; de- rket steady; Cali- round 4.25 light; demand : Cuba, 6s, ripes, ney count 6.006.50; fair ‘mostly around e count, e moder: de steady; light steady 4.50; demand Florida, choice de Torid: ers—sup too few sales report- Jlies ve Banker Knows. loubt about a security is equally as irs to protect You trust him with why not trust him Your When ¢ neult your banker 1ch his intere our ngs ¢ 1S Ve THE KEVENING B NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. 2W YORK, January 8.—The Curb Market today responded to the actior of the New York Federal Reserve Bank in ralsing its rediscount rate from 312 to 4 per cent. Heavy selling came into the market at the outset and carried prices off a half point to 2 points, with recent favorites the most persistently sold Some recovery from the low prices set in after the first hour, but sell ing was subsequently renewed in the afternoon. Humble Oil, which had been a feature of the Standard group. dropped to around the 95 level, while others of the group lost propor tionately. NEW ing is an stocks Cur YORK, January official list of traded in on the Market today BONDS Hich 1005 09 07 8. —Follow- bonds_and New York Low. 2:485. 1083 1063 08% o8t lsxr‘s‘- 011y 943 D13 Am 2°Am Roll Mills 65. 1011 3 Am Water Wks 65 941 1Asso Gas & EL 03 944, U Atlantic Fruit Bs.. 2 1 Beaverboard Ra. 30 Bell "Tel Can Steel 7 Pow & I Nor States P SPOM 61 hio Pow Pan Penn’ Oh n P&L 5s D 5 Rand C B R Son Cal_Bd Soueast P & I 62 Sou P & L de'n S0 NV Gra.. Stutz Mot 7iax L & Co'5s Al Guage 7 ascontl Ol 75 umhull Steel 63 Rub 6lgs '30 Rub 658 Sitedr FOREIG 100 BONDS And Nat C 6s wi ty Cologne 61gs 2 Dept_Antioq 75 A } Est RR F i ur M & In N ethl Ba rupp Fried Texas, | with your investment problems? or B Denm: ov_Santa F 0 Bu Al Tias 1 Rhine Ma Dan R 4 Sem L & Hal STANDARD OIL 188U 100 an 50 Bu Am O vee-od Kkeve P L, undreds, 5 101 Am Maracaibo Co Nat Gas . » Synd TPt RPN EE g ex Panuco ount Prod. ount Gulf Bradford Oil '/'L;;.SS PrRS "3 Wilcox 0 & G n 6 Woodley Pet new 6 INDUSTRIALS braham Straus 537 Straus Port Gas & Tk I & Trag pt1 Low & Pow & Razon Prod Superpow B Ariz Pow B Asso Gas & 1 Frait Blise £ W 1 Blackstone VG&E 100 4 Borden Co ....100 ot NATIONAL BANKS aton 5 83 29 T4 54 '377.08 4,689193.80 3,030.04 6.359, Mecha American . $119,103,926.63 $125 Dec. 31,1925. Increase. Decrease. §.334,956.21 3.350,227.. 12,544,549 4.419,655.. 3.011,946.2 6.616,47: $269,539.31 18,098.82 1,777,839. - 36,129,692, ‘.’,533‘.'3 64 7 ,364,212.36 $6,260,285. 73 SAVINGS BANKS. . $1,108,61 368,467 96,482 8 28 45 .13 .00 Bank of entral hevy it Departmental Bast Wa gton - Industr Sa International MeLachlen Mount Vernc North Capitol Northeast Park Potomie Prudent Security Seventh United Stat Washington = Washington Savings .. Woodridge Langdon Brightwood. ... Savings Bank.. Chase > and Savings Exchange \ n . :‘”‘\.\1‘ 4,864,08 Sav ect and Com. 2,988.14 59,993.58 20,571.43 138,110.05 14,084.12 $1,091, 156,476.03 503.16 1,415,481.05 1.645,872.37 505,729.11 965,365.45 464,879.08 717,271.51 1,492,840.46 8,548,957.69 15,356. 23,804.97 53.14 1,184,611.13 2,762,699.72 3,418,154.36 310,314.92 4,739,473.65 1,536,891.52 2,137,938.49, 1,641,897.25 91.97 373,779.44 111,747.71 51,459.47 256,520.92 124,609.38 55,034.45 5 135,348.54 '15,308.08 Totals . $33,528,345.61 $32,880,917,60 $647,427.92 TRUST COMPANIES. b3 Americar ‘ontinental ... Merchants’ Bank Munsey ...... National Savings ..... Unlon:TEuSt ..........0 Washingten Loan urity 8,507,229 62 2,901,507.03 6,293,002.20 5,171,580.68 10,994,403.90 6,460,765.15 13,606,381.93 $32,337,814.28 2,913,003.68 8,193,415.39 6,356,304.76 10,880,684.46 6,532,371.30 14,448,378.26 $3,830,584.66 11,496.65 1,900,413.19 184,724.08 71,606.15 841,996.33 Totals ............ $73,984,870.51 $80,661,972.13 $6,727,101.62 RECAPITULATION. National ba Savings bank Trust companics ’ Totals < (Complied by 34 73,934,870.51 142.75 $119,103,926.63 $125.364.21 .36 32,880,917.69 80,661,972.13 $6,260,28 "35 907, 102 18 '12 339,959.43 Audiey A. P. Savage of the National Savings and Trus Co.s . $113,719.44 An exception to the general ten- lency in the ofl section was Carib Syndicate, which sold at 15 agaln, where it compared with the previous inal of 12. Rickenbacker Motor stood out strongly in the motor group, crossing ) on a heavy turnover. According to he production schedule for the first Juarter and orders on hand, it was .stimated that earnings for 1926 night equal $2 a share. Public Service was a dropping off almost 3 and selling was and Power Engineers weak spot, Joints at one time, eavy in United Light 3 Borden, Tta, jrad Firepr(g 3 Brideeport M ) Light .. foid_C pfd. al Steel 1 (e 1 Chand C1 M pf wi Cleve Auto ponw E B By new. Laundries 2 Diairy Prod. “ontinen Bak A- “Ontinen Bak B Contl Pak " pid Clittien Aero 1 Dunhill Intl % Durant Mot East Tex Elec st Tex El rts Slenlonr & Bros Ei“Bond_& sh_f B& Sh n Cor fhvest Ine .- mporium Wi T Arra S S i 2 EErT SRS PEAE e RISt TS L5 i Fad Mot 1 Film Tnspec M 4 Forhan Co A - 1, Ford Mot Co Can 13 Found Fin A 7% Fox Theaters AL’ 3 Frank H H M1 C i Freshman Chis.. 3 Gen Bak A 47 Gen Baking B 3 Gen lee Cream 25 Gillette S 2 Ga Lt Pow & RY F'd &Uvie wi Hellman R pf Hires, Chas A Hood' Rubber Horn & Hard ex-d Ind Rason Co Int Contl Runhber Int Utilities, B Kelvinator C Land Co F Lehigh P_sec Cehigh val Lehigh val C 3 abi Iron West Ut W Tul pid Miller Rub new 3 Music_Master Natl Elee Pow & Nat P & Lt new £ &8 Nick Pl new ‘wi ox Corp B th O Pow ( Ont Lt & P es P C A mnibus C A Pt omni € vie Penn_ Wat Pow ¢ Pen Dav Gr A wi Gr B wi 0 Re Keo Motor Rickenbacker i El Corp A i Sleep Rad_vie South G & P A Southe P & L nw Sou Cal E. Sou Cities Uil Sou Dariea A Sou Dairies B Spark Withing St Reg Pap Stand Pub Stutz Motor Swift Intl, Swift & Co. Tampa Elec . [ 2 Thermiod Rad ( C_vte. § Thompson J H o5 Trans Lux Ble A Steel. i Sol LA 8 Union _Carbide. Cig St_n_wi E ton Al 3 2 Thomp R B oo T RGh Reclaim S Stores B. At Mt 2 I EEPEES. G STC Cop. MINT 5 Eng GId Vl I«l-‘l 4 !\laaun ‘nlm‘y 4 anda Mines 1 ier Gold M 50 Stand Sy Tead I!Tnnn elmont . GT(monzh Ext 18 Tono Min ... .’H'm Verde Ext (Y SO DR P2 Io’ = 5 EARNINGS UP 117 PCT. Seaboard Air Line Makes Remark- able 1925 Record. NEW YORK, January 8 (#).—In an analysis of earnings of 16 representa- tive rallroads, the New York Stock Exchange firm of H. Hentz & Co. shows that the Seaboard Air Line in- creased its 1925 earnings 117 per cent above 1924. New Haven followed closely with a 97 per cent gain and Missouri Pacific was third with an in- crease of 81 per cent. POTATO MAB.KET CHICAGO, January 8 (#).—Pota toes—Redeipts, 118 cars; total United States shipments, 623; 10 Canadian; trading somewhat siower; market weak on all stocks; Wisconsin sacked round whites, 4.1524.40; mostly around 4.25; Minnesota sacked round whites, 4.0024.30; " sacked Red River Ohios, 130, BUTTER UNCHANGED. CHICAGO, January 8 (P)—Butter unchanged; receipts, 6,666 tubs. Eggs higher: receipts, 5,986 cases; firsts, 38; ordinary firsts, 33a35. LIVE POULTRY WEAK. CHICAGO, January 8 (#).—Poultry, alive, weak; receipts, four cars; fowls, 26a28%; springs, 28; turkeys, 35; roosters, 19; ducks, 25a30; geese, 18. PARIS BOURSE UNSTEADY. PARIS, January 8 (#).— Prices 4 moved irregularly on the Bourse to- day. Three per cent rentes, 49 francs 30 centimes. Exchange on London, 126 francs 2 centimes. Five per cent loan, 56 francs 50 centimes. The dollar was quoted at 25 francs 94 centimes. BOSTON BANK PROSPERS. BOSTON, January 8 (Special).—The First Xational Bank of Boston has passed the $300,000,000 deposit mark. This is the first timg any New Eng- land bank has ever had that large a sum on deposit. The bank is exten- lmely interested in the South Amert - TAR, WASHINGTO D, C. NEW HIGH RECORDS INU.S. CUSTOMS Receipts for Past Six Months Break All Other Totals, Treasury Says. By the Associated Pres: Customs receipts set a new high mark for the sx months from June to the ‘end of last year, it was an- nounced today at the Treasury. The receipts were $292,621,815, or approxi mately $43.000,000 greater thap the record established in the half year end- ing December 31, 1923. It was officlally predicted that cus toms receipts for the current fiscal year, which ends next June 30, will exceed $600,000,000. The steadlly growing business re- flected by the increased receipts comes at a time when Assistant Secretary Andrews of the Treasury is giving consideration to means of expanding the customs service 6ver which he has Jurisdiction. On his recent tour of South Atlantic ports, the Assistant Secretary gave considerable study to the needs of the customs service be- cause of complaints that it was un- able to handle the import business as rapidly as was regarded necessary by the business interests. New Methods Sought. Complaints have been frequent against the congestion in the customs hause at New York and at one or two other ports and Mr. Andrews is searching for ways to correct the con dition and develop the customs service to the point where all fmports will be dispatched through customs houses promptly. Consideration is being given to cre- ation of a bureau of customs, headed by a commissioner, in the Treasury This, Mr. Andrews believes, will give the customs service more latitude and enable it to proceed with greater fa cility in meeting new problems as they develop. Should his fdea be worked out, the customs division of the Treas ury then would have a status com- parable to that of the Bureau of In- 1 Revenue, the other great in come arm of the Federal Government It was pointed out today that cus toms receipts are more generally dis tributes nong the various ports entry than in previous vears Several years ag 5> per cent of all customs receipts were collected in the New York customhot but in th fiscal yvear 1925 only per cent of the total receipts were collected in New York Important ga in r ipts were shown for the ports of Galveston San Francisco, Chicago and Nev Orleans, while there were decreases in receipts in Boston and Philadelphia as well as In New York in the fiscal year 1925. Receipts at ( $4,700,000 in th grown to $10,064,000 in 1 Francisco went from $10.800 1923 to $12,300,000 last year; Chica reported $13,700,000 two years agc while last vear the receipts re 300,000, and New Orleans, which k receipts of $20,000,000 in 1323, repor $30,000,000 for last vear CHANGE IN PLANS URGED. Conowingo Power Interests Would Limit Dividends. al Dispateh to The Star LTIMORE, January 8.—The Pub lc Servic Commission has received a supplementary petition from the in tere: backing the Conowingo power project containing several changes suggested by the Pennsylvania com- mission. The changes include a divi dend limit on preferred stock of § per cent and the abolition of all bonus stock. Furthermore, instead of receiving a flat rental of $4.030,000 a year, the company, under the new plan, would recei a 7 per cen:. return on the investment CAR LOADINGS HEAVY. N. & W. Hauls Much More Freight Than Year Ago. Specia’ Dispatch to The Sta: NEW YORK, January 8.—The Nor- folk and Western reports 96,373 rev- enue cars loaded in December, 1425, veston, whic fiscal year 19 were had San in 3 as compared with $4,98 in the same | period a year ago, and revenue cars from connections were 30,083, against 24,8 Coal loadings were 66,083, against 56,766 in 1924. The Reading system reports freight and coal load- ed and received from connections in December of 199,642 cars, contrasted with 205,790 in November and 191,634 in_December, 19 WASHINGTON MECHANICS’ SAVINGS BANK At Washington, in the District of Columbis. at tha close of bunpess on December 31, 19; RESOURCES. 1. aLoans and discounts....$1.244,608.11 4. U S. Government securiifos owned (including pre- miume, if any ) Other bonds, stocks, securi- ties, ete. A Banking houses.’ $80.200: furniture “and fixtures, $:32.056.34 2 Real estate owned other than banking house . Cash in vault and_amount due from national banks Amount due from State anks. bankers and trust ompanies in_the United States (other than cluded in item 10) Checks on other banks in the same city or town as reporting bank . Total of tems 10 i’ cics’ 08.623.34 61.763.94 112.266.34 11.445.74 180.150.04 16.933.94 .727.86 and drafts on banks (in- cluding Fed eral reserve bank) locat. ed outside of city or town of " reporting bank b Miscellaneous cash items. Other assets . Total ... Luerrms Capital stock paid in Surplus fund a Uhdivided profits Amount due to national banks: -t .. Certified checks outstanding Total of items 23 and Shi $17.417.50 Demand " " deposits ' (other than bank deposits) sub- Ject Lo Teservo (deposits payable withis Individual deposiis lublecl to check . Dividends unpai Total of demand depo (other than bank depos its) sublect 1o reserve, items 27 and s1ome . Fheradibi Time " déposiis “sublect 0 reserve (payable after 30 days, or subject to 30 dayl or more notice, and stal savings) : Cortificates of deposit (oth- er than for money bor- Otfvor "theae " dégonita 11" Total-of time deposits syl Ject ;a reserve, items 3; o 3. “se. -$1.009.406. 4 md Gl °fa WILLTAMS, treasurer of the $1,755.250.61 abSve pa DAk A Sl e fhat the above statement s true to the best of knowl d_belief my uuwedn and bellet 5. s Fin” oworn o Defors ose ihis oth d:{ o (Seal.) January: 1926, Correct—Attest: $3.991. 2.621.93 30.955.55 1088:283.28 HUBERT N, NBOBERTS, BZRA GO Gionds Hyyes, ot | ANXIETY OVER PAY INBUILDING TRADES Coming Wage Readjustments May Bring Clouds to In- dustrial Sky. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 8.—Employ- ment barometers today showed no signs of storms approaching in the near future. But the skies of indus- try are not entirely cloudless. The chief anxlety is felt with regard to the action of the building trades. In many of these lines of endeavor wage scales come up for revision in the Spring and the duration of the tre- mendous building activity which help- ed so materially in ‘supporting every line of American business in 1925 is known to be dependent on keeping building costs at or close to present figures. Skilled Labor Higher. Reports received by telegraph today from widely scattered sections indicate that while the average rate for com- mon labor iy around o4 cents an hour, or slightly lower than a year ago, the remuneration of skilled artisans is slightly above that of January, Taking the 1913 costs as mo the Engineering News Record figure for construction costs this month is 207.1 compared with 210.40 a year ago, and 273.80, the 1920 peak. Most distributors and manufacturers heaved a sigh of satisfaction over the agreement between the railroads and the railway brotherhoods on terms of a bill to settle wage disputes. The terms agreed upon would provide for arbitration and prevent ady strike or change in the situation for at least 30 days after a report has been made to the President by & board named by him to probe any failure to agree. System Entirely Changed. Producers, distributors and me: disers have all changed their system of doing business in the last two years tuke advantage of the increased ficlency of the railroads, and any en failure of that efficiency would us damage to the whole sric of the country rs and employes alike are a I puzzled today to know just iized labor stands with re itration. The most power- le unfon affilinted with the American Federation pf Labor—the “nited Mine Workers, whose leaders © been conferring, without ayail, h mine operators in an effort to end the anthracite strike—have taken the stand that under no circumstances v submit ¢ ces to arbitra rallroad broth the most powerful group in an Federation of Labor, on and, not only advocate ar- ut are supporting a law make arbitration com- su work seric bustness fa Employ: good ¢ where ¢ gard to s ful sing erhoods, Ame er n would tie which pulsory Urge Governor to Act. | A combination of cfvic and commer- cial bodies in Philadelphia are making {insistent demands that Gov. Pinchot use his efforts to have the Legislature, which will shortly meet in spectal ses: sion, repeal the mine certificate law. fch makes it obligatory for miners anthr properties to have a State lic This in_the past has the an e fields during strikes It t > been suggested that the governor be given authority to sus- pend the mine certificate law In times of stri The most prominent America, while chey affiliated themselves with the Federa- tion of Labor. to all intents and pur- poses have formed themselves into a union, to protect their interests in the moving picture rights to their plays. There are 131 dramatists in the union, but the managers who oppose their dramatists o! Charter No. 4107, Reserve District No. 5. REPORT OF CONDITION NATIONAL CAPITAL BANK At Washington. in the District of Columbia. at the close of bueiness on December 31, 1925, RESOURCES. 1. aLoans and discounts. in- uding _rediscounts, e ptances of other vanks, and foreign bills of exchange or drafts. ®old with indorsement, of this bank ... .. Qrerdrafts. unsechred S. Government securi- Ve SoE T United ~ States Govern- ent securities (includ- % premiums. if any ) Ottier bonds. stocks, securi- e, et Banking house, $48.500 furmiture and fixtures. $4.500 s Real estats owned othor than banking house Lawful rcserve with Fed- eral Rescrve Bank Items with Federal Reserve Bank in process of col ction . . Cash in vault and ‘amount due from national banks . Amount due from State banks. bankers and_trusf companies in the Unite States (other than in. {luded 1n ftems 8.0 and $1.330.040.32 381.943.44 442.647.50 50.000.00 47.458.97 173.225.91 7.930.38 164.279.04 E O niee " Tor " vicndng | T410481 . Exchanies” " for " ciearing houss . 49.866.57 Checks on’ other banks in the same ity or town as reporting hlnk (c(har than Jtem 12) - Total of items 9, 12 and 13..$200. 5(« m - b Miseviiancous cah- 1iems Other assots Total 14.282.60 41883 4884 -$2.604,169.54 *200.809 82 105.918.0f 2,600.00 LIAmIl‘l‘lES Capital stock paid in . Surplus fund . Undivided profite wees . Reserved for taxes. Inier: est. ete.. accrued ... Amount due to Federal Re- serve Bank (deferred credits) .Amou&xt due 'to " national Amount due to’ state banks, bankers and trust’ com: panies in the United States and foreign coun tries (other than includ- ed in items 22 or 23).. rtified checks outstand) g ler's checks outstanding STOIA of emme 3553, 24 25 and 26 . $108 Demand “deposits " (other than bank deposite) syb. ject to reserve (depo Payable within 30 daye): Individual. deposiie subject o check Dividends unpal 32 Other demand deposit Total of demand depost (other than bank den: fte) sublect to reserve, items 27, 31 32 . .7 $1657,328.42 Time deposits "subject to reserve (payable after 30 days, or_ subject to 30 days’ or more notice, and postal savings . Postal savings deposits . .. Total of time deposits sub- Jeot "o rescive, Chtem vesee. ... $27.632.06 . U, 5 Government securi- tfes”borrowed 41. Bills pavable (inciuding ali obligations _representing money borrowed other than “rediscounts) . ... . 42. Notes, and bills rediscount: including acceptan M other banks and for- o0t exchange or drafts 46 um'}hf’ ! Ciber than abjlities other D&VB stated . 15.354.06 173.67 27.532.05 145.000.00 190.000.00 56:850.00 708.31 Total -$2.604,160.54 Digtrict of Columbia. s 5 TEWART, ‘cashier of the uwn- named’ bank. do solémnly ‘swear that 8bove statement e true to ihe best of o ef knowledge and b4l srpwART. Cashier g hudmxb‘edl and lwolr‘t'l Jo ‘before me this % of Januacy’ 102 HARLES A. McCARTHY, seal,* ¢ S ¥otary Pubiic. . €. have not today | FRIDAY, JANUARY 8, 192 PRICES IRREGULAR IN COTTON MARKET Better Liverpool and Manchester Trade Advices Are Helnful Factors. By the Associated Press. NEW YORK, January 8—Cotton futures opened steady. January, 20.25; March, 20.08; May, 19.60; July, 18.96; October, 18.23. Distinctly bet- ter trade advices from Liverpool and Manchester were followed by a very steadv opening. First prices were 6 to 17 points higher on covering and fresh buying, March selllng up to | 20.08 and July to 18.97. These flg- ures evidently attracted a good de: of realizing by recent buyers, hov ever, while there also was a good deal of selling here to undo old straddles between New York and Liverpool at the increase in the dif- ference. This checked the advance and caused quick reactions of 15 or 20 points, but the better British trade news steadied prices at the decine and the market was about net unchanged at the end of the first hour. Cable advices recelved in the trade reported a better business in cotton goods at Manchester and an increased spot demand from spinners and ex porters in Liverpool. Cotton futures, steady; January May, 19.40; July 11:45 a.m.—Bids 20.16; March, 19.83; 18.76; October, 18.04. NEW YORK DAIRY PRICES. NEW YORK, January 8 (#).—But- ter barely steady; recgipts, & tubs| Creamery, higher than extras, 45a 4561%; do., extras (92 Kl‘lrrl)l 4412 do., firsts (88 to 91 score), Eggs {rregular: rec cases. Fresh gathered 41a42; fresh gathered, firsts, 391%a40; do., storage, 3112434; fresh gathered, seconds, 381, . seconds and 15,589 extra firsts, L 46348, FINANCIAL NOTES W YORK, January & (P).— American Locomotive Co. has an order from the Florida East Coast Railway for 10 mountain-type locomo- tives and 6 switching engines. A 50 per cent increase in the capacity of its mill at Midland, Pa., at a cost of $2,000,000, is planned by Crucible Steel Co. of America, which will re. quire employment steel workers. George H. Charls, vice prestdent and | general manager of the United Alloy Steel Corporation, has been elected president. stand say there are at least 75,000,000 people in this country who have writ- 1 or think they can write plays, and at there will be no lack of dramatic erings even if the prominent dram withhold their offerings. liam Cooper Procter, president of Procter & Gamble, soap manufactur. ers, said today that as a result of the company’s plan to guarantee employ- ment labor turnover from all causes, including deaths, {llness and marriage, has now.been reduced below 1 per cent (Copyright, 1926.) a month. The company guarantees 48 of 500 addllinm\l; | weeks' work each year. REAL FSTATE LOANS % APARTMANT RoTsrs BUSINESS PROPERTY RESIDENCE LOANS AT LOW RATES FRED T. NESBIT INVESTMENT BLDG. Main 9392 FINANCIAL. L 2 HIGHER REDISCOUNT RATE HELD RELIEF Wall Street Glad Reserve Board Has Settled Issue. Surprise Also Noted. By the Associated Press. NEW YORK, January 8.—Mingled feelings of surprise and relief greeted the advance in the New York Federal reserve rediscount rate from to 4| per cent in the speculative quarters of Wall street today With the local bank clinging to the lower charge in the face of 4 per cent rates by all other reserve institutions and a perceptible tightening of money market and credit conditions toward the end of 192 improbable that a would be made just as.the year end strain ap- peared to be passing On the other hand, Wall Street made up its mind two months ago that a rise in the New York rate was inevitable and indicated its relief over the removal of this uncertainty, al- though securities prices naturally r acted on the news. DIVIDENDS. Period. Rate. Pa Fel Exchange Buf Jun 30 Fin Co Pa 2d vf Harriman N Bk Do Masx Gax Co Mullins Bdy Smith (AG) Do. S Pit W 57 bt's. Tnion Of Cal Winnipes E deemed | TOBACCO PROFITS NiL FOR PAST TEN YEARS Maryland Man Declares Farmers Need to Co-operate on Stand- ard of Prices. Special Dispatch to The Star. BALTIMORE, January 8.—Tobacco farmers of Southern Maryland have made no profits for the last 10 vears, State Senator Thomas Parran of Prince (ieorge County told the Tobacco Grower's Association here yvesterday. The association was one of the sev- | eral farm organizations which met in connection with the convention of the .rm Bureau Federation. \Ir an, president of the organ! zation which he addressed, attributed low prices paid to tobacco farmers to | the fact that they do not belong to the association. He stated that a falr price | will be obtained when 85 per cent of the farmers join to fix a standard price. Direct” sale, instead of sale through commission men, was urged by the speaker. It was estimated by Mr. Parran that there now is more than $10,000,000 worth of tobacco in Southern Mary- land barns being cured. This, he sa will be ready for the market in two vears, FIRST DIVIDEND PASSED SINCE 1865 ORGANIZATION Special Dispatch to The Star. LEWISTON,, Me., January 8—An indication of the extreme depression through which the textile industry s passed s seen here in the decision scoggin mills to omit its dividend. The compan: s never pussed a dividend since organization in 1566. It operates 000 spindles and 2,400 looms. nual Theatres Corporation Participating Class A Stock An opportunity to share in the success of “Roxy,” who will now have his own theater and promises there to surpass his previous achievements. Entitled to preferred cumulative dividends of $3.50 per annum. “Roxy” and his associ- ates estimate that net earnings available for these dividends will be over four times the requirements. Price $40 per share (Including 1 share of common stock for every 3 shares of Class A) Send for descriptive circular CRANE, PARRIS & CO. 823 15th STREET N.W. WASHINGTON, D. C. “Uncommon Flavor Only one cigarette out of over 200 brands is unusual. Only one has a reason for its distinc- tion. Lucky Strike is unique, really different. Because its toasted The hidden flavors of the world’s fin- est tobaccos are fully developed by the costly toasting process. The ex. clusive Lucky Strike flavor is a delight