Evening Star Newspaper, April 10, 1926, Page 15

FIN TRADE IMPROVES Dealers Surprised to Find Egg Prices Remain Firm. Expected Drop. cal d swwed condition of the market week, xince It wa stmas_holiday 1ly 1o be expected tha! the Lenten period would state, but the market <k the the several period. the They Dealers are surprised that a nas continued so firm, 1 expected prices to fall to a trifle more, but prices have ound the 30-cent mark ' v were quoted cents for hennery s here has b ock. en and other price of fowls has been Turkeys continue a_good stated, in spite of the They arve not plenti and high prices rule. ner however Butter Price Changes. changes in bu vded led v e ish few for pply of Prices should state nd and Vir lained of frost for drop prospects the city fruit while in this trees are be. their trees are 1 \ immediate nnin. color of 40 mouth Roc smaller, 40n45; Winte er, 4004 tucks, fo 90; old, hens, 55; fowls, Spring Kk broiers 3. White i chick pounds and 80z 451 t 50; broiler young, 90a1.00; 14; me- heavy 15; choice. 3 hogs ht, choice Meats—Bee veal 22a24: dressed ) uit and Vegetable Review. t on fruits and Market Today's m ket rep vegetables (compiied News Service, Burcau Feon savs Apples—Supplie light, market du ind V some poor A condit 4.5025.00; inches up, $ nd Ruxbur inch Baldwins, 114.00; poorer, . me clicious, demand | Caro- very h white, ce size, 1.50a2.00: “alifornia, libe a, 11 demana bushel 0, pplies inch crates r to ordinary qual Lett Supplies mand moderate, m: Imperial Valiey, 1.004 Hushe 50a3.00 pec range 1 . best, decayed low as 1.50. Onfons—Supplies modera riec dull Mich 100-pound 8., No. 1, 350 U § Potato Market Potatoes—Supplies mand good, market s N i, 150.po rurals, U No. No. 1, 9.2529.50 Spinach—Supplie slow, ma baske! moder: few hampe! 50a2 higher; wide 75;*some light New sacks, derhand York and vellows, Stronger. moderate; de- htly stronger; < Russet Maine, 19.00 e te; demand s, bushel few high ion, cloth - type, some a1.50. wlies light; de- firm for good refrigerators, r quality and top veneer very poor and marlke de- i Caulifiowerb—Su mand mode light; steady; moderate; de- et steady; Florl- turning wrapped, connt, 6.50a7.00; Tomatoes mand mode ipes and : demand -bushel ary qual 3.0014.00. few sales to String beans low, market st hampers g fty, 4.00: Reots, eatablish Pepper pltes very light; POTATOES HEACH PEAK. Now at HI.‘:tht Price Ever Known at This Time of Year. April 10 (P Potatoes to have reached this time of the bave ever known s are now paying from $5.5 75 per 100 pounds for the remainder of the Fall crop. Although the price has risen almost $1 during the last week, merchants declared there is no danger of a short- age, the ps being too far along. The > p B heavy Dakot 1z John MeKay of wax rrots arkoet Squash—Sup- no sales rnymru-d CHI( o de : b year the n Who S 10 to the ado and the ccording to the lhxr‘u"o Potato Co. Wisconsin and Michigan also suf- fered to some extent, he added, and New York State did not produce its normal crop. BANGOR, Presque Isle shipping points, No. 1 G Moun- tain potatoes yesierday reached the season’s record price of §10 a barrel cash to producers, Me., April and other 10 (P).—At Arcostook . Your Banker, Knows. When in doubt about a security consult your banker. It Is equally as much his interest as your to protect your savings. You irust him with your deposits—why not tnlnt with your investment! prob! srs report a decidedly im- this compared with previous weeks season. B8 5 comnts nov- and to- as much as decrease in prices | g chickens, above prices | S0a | ANCIAL, BY WILLIAM F. HEFFERNAN. . NEW YORK, April 10 (Curbs) Higher prices were reached in a num- ber of specialties in the brief closing session of the week on the Curb kx change and the buying of these se- lected issues furnished the feature in another day where public participa- tion was small. It was evident that the short position in such stocks as General Baking A Continental Raking “A.” Electrio Refrigeration and Charles Freshman Radio had been found vulnerable and it was not a difficult matter to bring about high- er prices when offerings were found to l»e light t H Baking A, which had hP&n vily during the past month, sonded with a rise of more than 2 its before the demand spent itself. e upturn in Continental was not as pronounced, but was sufficient to bring about & fractional improvement Electric Refrigeration was the out- NEW YORK, is an official list traded in on the ket to Sales in thoysands 1 AT, 14 Am m Gas Am Pow & D aAm W Wl § Anaconda 6 Ao G & E 6 AR Sim Hard § 2ALG & W | 30B&ORR | s April 10. bonds and New York Curb Following stocks Mar- BONDS Hih, | | ] A Ind 0'& Gax §14s 21 Lehigh P 5y S P M 6 o Pow b8 Otix’ Steel 6x.. Pan Am Pet fis. Pen Ohio Ed 65 68 Phil EP 5igs 721 Phila Rupid Tr 63 9013 Pure Oil Co 68 103410 Kard B 61hs 103 5l4% A 10115 Ts.,. 10315 a8 ah 610w FOREIGN BONDS. thousands. 5 Buenos Aires 7138100 1Ber Cit E 8158 e nburg Mtg Bk h: s 10053 100} 841 “o4i) CENEE T s O 6 UE Gls 861 86% STANDARD OIL 1SSUES, { ""200 A Am 0 non vte, 101 | 100 Atiantic Lobos pf 53 % 1200 Continent Oil n.. 10 Camberland P 1. 50 Gal Sig Oil | _10Gai §0 nfd ol 1500 Humble Ol & R. 500 Hamb, O&R n_wi 1000 Hum O&R r cash 1011l P L. 100 Imp © o Can 100 Ind P T 1300 Int Pet 100 Ohio O 100 Penn Mex” Fuel.. pyssen 5 Westpha in | unite 400 S 0 Calif new wi 17008 0 In i00s 0 4008 0 105 0 5 16700 § O New York 100 Vacuum Oil. Sales in INDEP hundreds. TAm Con Oilfids.. on Ot inal Prie. ) Synd ACIt Serv new 5 Cit Sery pfil.. . 10 Columbia Synd.’” £ F | 18 Guit il ot Ba 3 Lago Pet. . 42 Lago Ol A 20 Leonard Ol 10 Margar Ol 10 Mex Oil NING STAR, WASH T o o e e HANESWING. DOV | ¢ Received by Private Wire Direct to The Star Office standing feature in point of activity. Opening at 623 on a block of 1,600 shares, the price recorded a gain of 11 almost 3 points in the first hour. Treshman, despite the improvement of the previous day, continued In ac tive demand, but other radio shares were not influenced by strength in this stock. Announcement that directors of the Standard Oil of New York had ap- proved the merger with General Pe- troleum failed to have a favorable effect upon the market for that stock and the price receded almost a point shortly after the opening. Stockholders will meet May 17 to ratify the approval of the directors. The basis of exchange will be two shares of Standard of New York for each of General Petroleum. Other oil shaves worked slightly higher, with special activity in shares of c panies operating in South Ams 1 New Bradford il i1 T IR Perr 1 Red Bank on. 1 Reiter. Foster Oil Salt Creek Prod Tidewater Oil.. 4 Tidewater Oll' bl 4 Venezuelan Pet. 2 Warner Quinjan. i Wileox 0 & G n i S 2l L INDUSTRIALS. Cyanamid B Home Prod.. Lt & Trac Pow & Lt'n Am Pow & Li nf 5Am Superpow B 1 Am supery pr pf 1Am Bloomingd I Bloomingd Nip . 1 llins & Aikman 1 g‘\muum PCn 200 Common P C w C Bal n aune Dairy It‘onllm Bak A . 31 Contin Hak B 1 1 Contin Bak pfd. . 1 Gourtlanids Lid grens Cig 1 Dinkler H A w w Dominion St Lud. Dunhill Intl I . 32 Durant Mot ‘\ El Bond & Sh pf El B & Sh u Cor 13 El Invest Inc El Refrie nire Pow B R Iy S B ly_umune Tire R S FER 2 1Leh Pow new 1 fohi val ¢ Municipal Service Master C. . i Sotlone. Bl wid: tand Pub C A. . Timken Axle. Todd Ship . Trans Lux Pic 1 Ariz_Gold . 5 Beaver Cona ng Gid Ltd 1. 70 Forty’ Nine M 4 Golden Cen M. < Contin :I L lnh Avex .. 1Yuk Alas T dn BAR SILVEE PRICE. NEW YORK, April [Urs w2, 10 Mex Panuc 1 Mount Gulf. silver, 65; Mexican dollars, 49 BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 10.—Develop- | ments of the last week have put new emphasis upon the difference between the investment and the speculative situation. TInvestment securities, in- cluding high-class bonds and the bet- ter grade of preferred stocks have been working higher. Speculative is- sues as a whole are not much changed. Money rates have sunk to the lowest of the year, the noticeable feature being the increased offerings of long- term bonds at the lowest quotation of the past eight months. This fnci- dent can be interpreted in two wa First it implies a tendency toward higher Investment values, because the decreasing purchasing power of money involves a lower interest return. Sec- ond it suggests that commercial activi- ties are not what they were predicted three months ago, that the total volume of business, while still very large, does not require the amount of credit that was considered likely at the beginning of the year. A Lesson for Speculators. Thevefore the reduction of money rates is by no means an entirely opti- mistic sign. It has been inspiring to see the bond market and the strictly investment part of the stock market as strong as it has been during the last few days. But the experience of the last four years shouid have car- ried the lesson that comparatively low money quotations are not an incentive for_speculation. The stock market has come to think more about individual business con- ditions and less about credit condi- INVESTMENT BONDS TAKE CENTER OF STAGE AS STOCK LIST LAGS ward lower levels and the present index number is at the lowest point touched since September, 1924.” Pig fron has proverbially been looked upon as an index, and pig iron has been going lower within the last week it has dropped $1 to $1.50 a. ton. Foreign competition has entered in but the main point is that the do- mestic output has been so increased that it has kept pace with the en- larged consumption. Ilence buyers have felt that they had the market in their hands. They have not loaded up as they did three years ago with high priced materials, but they feel perfectly secure that the market is not going to run away. They can buy for immediate need only This is in one sense a strong feature of the business situation, because it does not mean an over- bought condition. On the other hand, it points toward continuation of a low profit margin. French and Belgian Franc Weak. International banking circles con- tinued to adopt a skeptical attitude toward both the French and Belgian puper currencles. There was a lot of stir about success of the Briand miaistry in putting through its financial program. Yet the franc did not raily. Toward the end of the week it was hovering around the very low- est figure for all time. This is hardly consistent with a definite belief that the French budget has been actually balanced. The tfou- ble is that increased taxes have been proposed, but that it is a question whether they will take effect in time to cure the financial situation. In Bel- gium the budget remains unbalanced. There was artificial support for a year tions, As a result, it has frequently been observed that prices have come down with money at 4 to 513 per cent where they have gone up with money at 6 per cent. The Mercantile Situation. ‘The mercantile reviews continued to play up the high figures on rallroad freight tonnage and bank clearings. i But_the disappointment lies in com- { modity price movements. No perlod of great industrial prosperity has ever bgen ushered*in by a declining price. level in such essential lines as steel and textiles. Dun’s Review at the week endgsays that “each manth oW IEAAmoNvemen =t or- or more, and it suddenly collapsed. Stock Prices a Little Changed. ‘The stock market situation stands about where it did a week ago. Prices have not materially changed in the neral list. There have been some advances and some declines. But, on the whole, the position is that there ‘was a big speculation during the Au- tumn and early Winter followed by a severe decline. The public is carry- ing stocks at prices much above the current level and is not willing to buy more. The opposite side of the pic- lnr9 is that a good deal of liquidation oceurred. and that these weak msw points, and this was extended to | ON BALANGED KEEL Commerce and Industry Have Struck “Good Gait,” Good for Months. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, April 10.—Business is moving along on an even keel. There have been few changes one way or the other in the last week ex- cept these due to weather and sea- xonal varlations. In the main, business men have been glad o observe this. Commerce and industry have struck a ‘road gait” which they are likely to hold for {months to come. Some industries have been acting like the old time stage drivers who always started out and finished their - lop. In between, seeded at a pace calculated to cover ground and conserve their animals. Building never was more active and the scale of wages is the highest in histos There seems no surplus of labor in general. The material mar- kets are such as to encourage build- ing, while. the volume-of building as- sures steady material production in large quantities. Conservative Buying Is Seen. Conservative buying is strongly in evidence in the agricultural sections of the West and South. These will {continue until the weather is settled Cotton prices are low. If the weather favors a big crop to add to the heavy carry-over from last season the ch to buying is likely to take on & proportions below the Mason Dixon line. Moisture and sunshine also will de- . they pro- other sections, as it does every vear. The soundness of the agricultural| situation, however, is shown by the volume of farm implement sales. There is a shortage of farm labor, due | in some measure to restriction of im migration, and power equipment is being extensively purchased to offset this lack of manpower. Recently sales have been 26 per cent ahead of those of the Spring of 1925, The steel industry has been main- taining production at a high rate, the only check coming from illness among employes which cut working forces. Charles M. Schwab, chairman of the board of Bethlehem Nteel, says wage earners are working in the best spirit of peace with empolyers in 25 years. Auto Trade Is Brisk. . In the automobile field, the Buick Co. has shipped 1,600 more cars In the eight months since the present line was introduced than in any prev- jous annual period. The plant has been at capacity since August 1, 1925, and March shipments totaled 25,305 cars. Retail dellveries of Fords by dealers have improved since March 20, by about 1,300 cars a _day. Hupp ex port sales increased 38 per cent for| the first quarter as compared with | last year. Other concerns are work- ing at or close to capacity. The railroads are commencing their Spring maintenance work and are em ploying thousands of men in putting their rails and rolling stock into shape and keeping them there, all the while | handling a heavy volume of traffic.| he non-ferrous metals have been | | quiet. This has been due to the con- dition of forelgn business rather than slack domestic demand. Copper, lead | and zine all showed some weakness during the week The demand for tires has improved, but because of big stocks this has not materially affected the crude rubber market, which is steady but slightly lower than a month ago or a week ago. Tire fabrics are in better de- mand, but cotton goods are a trifle off in price, reflecting the low levels of the raw staple. More buying interest is in evidence. Woolens have done a little better and the tone of the recent floor-covering auctions improved toward the close. Raw silk prices dropped a trifle and 80 did volume of broad silk sales. 0il Products Stronger. Petroleum and its products strength- ened their position, but coal showed little improvement. The radio indus- try 1s doing better than for some time. With prospects of a crop ex- ceeding 5,300,000 tons of raw sugar, Cuban producers are fssulng cries of distress, but the domestic beet pro- ducers are going right ahead with preparations for a big 1926 acreage. Alfred P. Sloan, president of Gen- eral Motors, told the Deico Light and Frigidaire sales convention in Dayton that electric refrigeration was taking its place with the automobile and radio as one of three great electrical business developments of the age. Refrigerator sales in the last month were 60 per cent larger than those of last year, he said. The Frigidaire business of 1925 amounted to $4,000,- 000, and E. G. Blechior, president of Delco, told the salesmen indications were that 1926 sales would reach $80,000,000. BALTIMORE PRODUCE. BALTIMORE, April 10 (Special).— ‘White potatoes, 100 pounds, 2.50a5.25; asparagus, dozen, 2.00a4.50; culls, 1.00 al.50; beans, hamper, 4.0026.00; beets, hundred, 4.00a6.00; cabbage, hamper, 1.76a2.25; sweet potatoes, barrel, 2.00a 4.60; yams, barrel, 2.00a4.50; carrots, bushel, 2.26; cauliflower, crate, 2.00a .25; celery, crate, 2.50a3.50; -cucum- crate. 6.00a10.00; eggplants, 3.00a6.00; kale, bushel, 75a90; lettuce, basket, 1.50a3,00; peppers, crate, 4.00a7.00; onions, 100 pounds, 3.00a3.50; Spring onlons, hundred, 3.00 a6.00; peas, hamper, 3.5024.50; hun- dred, 1.76a2.00; parsnips, basket, 50a 60; tomatoes, crate, 3.50a3.65; spinach, bushel, 40a75; radishes, hamper, 1.50a 2.50. Apples, 2.0085.0 SoaTB Grapsfiutt. box, oranges, box, 4.5026.00; quart, 25a50. crate, GTON, | cembep, termine the financial situation of the | | weather, | earnings to the automobile busine: Miss Ftta Norton, recently chosen to succeed her father as coroner of Kane County, IlL, is the first woman to hold such a position in- Illinofs. The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland. FOR 3, 5 OR 10 YEAR PERIODS 5% Houses Business Properties D. (., SATURDAY, ON WEATHER NEWS Realizing Checks Rise, But| Market Holds Steady and Higher. By the Associated Press. NEW YORK, April 10.—Cotton fu tures opened steady; May, 18.90; July, October, 17.61; December, 17.30; he market was steady at an ad- ance of 7 to 12 points on reports of general rains in the southwest and relatively firm Livorpool cables. Tur ther covering by mnear month shorts with trade and commission house buy- ing of later deliverles, sent prices up to 18.96 for May, and 17.67 for Octo- ber, in early trading or about 15 to 17 points net higher. Realizing ch ed the advance at this level and caused slight setbac but the trade feared that the Western belt rains would work Kastward over Sunday. The market held very steady at the end of the first hour. Private cables advices reported trad ing calling with local and continental buying in Liverpool on the rains news from the South. NEW YORK. April 10 () —Cotton fi- iy at a net advance of 6 to | Close 1890 1831 7.0 Tow. High 06 1888 B New Orleans Quotations. NEW ORLEANS, April 10 Cotton wpened steady 18,18 ) — May, : De- January (1927), 16.98 bld ket firm in sympathy with better cables than due and owing to heavy and general rains in the \West- ern helt accompanied by = colder First trades showed gains of 10 to 14 points and the market con- tinued to gain after the call until May traded up to 18.27, July to 17.83 and October to 17.0, or 17 to 19 points above yesterday's cl A better de- mand for spots locally was reported. Map indications pointed to continued bad weather over Sunday. At the end of (he first half hour prices eased off a few points on week end realizing, but the undertone continued firm. NEW ORLEANS futures closed. st to 8 points 94 U. S. CONCERNS IN TEN MILLION EARNING CLASS Five of Largest Industrials Varied From $90,000,000 to $100,000,- 000 in 1924, Report Says. By the Assocfated Press. W YORK, April 10.—Ninety-four American corporations each had earn ings of $10,000,000 or more in 1925, while five of the largest industrials varied from $90,000,000 to more than $100,000,000, it is revealed in the cur rent American Bankers' Association 32 ranked 3 in the $10.- which incre: d to 5) the in 1 000,000 clas next year The American T na T graph Co. led the list with $107,000,000, followed by General Motors Corpora- tion, with $106,000.000: the Ford Co. estimated at $95,000,000; United States Steel Corporation, $90,000,000, and Standard Oil Co of New Jersey, whose figures have not vet been published. “A new high record was set in 192 the article said. Twenty-seven cor-| porations cleared the $20,000,000 bar- rier as compared with 20 for 1924 and 1928, 19, in 1922, and 14 in 1921.| Twenty corporations climbed into the $10,000.000 or better class, “While the bank earnings turned up- ward last year, it was observed that any bank was in the company of the newcomers. No more than two banks out of 28,000 make as much as $10, 000,000 & year."” The compilation showed that nine automobile manufacturers, 15 or more oil companies and one body manufac- turer made $10,000,000 or more. A number of the leading corporations at- tributed a substantial part of their Prompt Action First Mortgage Loans 'Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 738 15th Street Large labla‘. 4x10 ft., thirty chairs and two couches—MAHOGANY FIN- ISH and LEATHER. Exceptional buy for use in Directors, Conference or Committee rooms. NATIONAL COAL ASSOCIATION 801 Southern Building 6% CONSTRUCTION LOANS L A NO LOSS g nvestor 5 ARS THE F. H. SMITH Co. Pirss Morsgage Bonds 815 15¢h St., N.W.,Washingten, D.C. WE FINANCE ——all classes of incoms-producing property Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. Apartments Office Buildings ON APPROVED SECURITY Apply mwnu.x. H. HAGNER & Ooxrm MoORTGAGE Lean 1321 Connecticut Avenue GORRESPONDENT Telephone Main 9700 APRIL 10, 1926.' FINANCIAL. COLUMBIA PERMANENT . BUILDING ASSOCIATION PAYS 5% Assets Over $700,000 733 12th Street N.W. Melvin C. Hazen, President Floyd E. Davis, Treasirer Clarence I. Gessford, Secretary A Third of a Century’ Experience B. Main 2100 Money to Loan Secured by first deed of trust on real estate. Prevalling interest and mlrlx‘m;:flgn Joseph 1. Well eller 3900 Mortgage Notes 6'2% Secured on the Choicest of District of Columbia Residential Properties You have only to see these properties to know that no other guaranty is necessary for the protec- tion of our investors. William S. Phillips & Co. | INCORPORATED 1432 K St. N.W. Main 4600 First Trust Money ON HAND —Auvailable for Both Building Loans and Completed Properties Reasonable Interest and Commission JAMES F. SHEA Collateral Thrift Trust Notes of the International Bank Are Issued in Any Amount and Pay 4% on Demand 5% Six to TwelveMonths 6% One Year or More These certificates are fully secured by securities deposited with @ trustee to insure pay- ment when they become due. In addition they are guaranteed by the entire resources of this bank. ‘When necessary, these notes can be redeemed at any time without loss of interest. International Bank Resources Over $3,000,000.00 807 15th St. N.W. Main 864 Apartment Rents, Leases, Upkeep —every detail of Apar ment House management is thoroughly covered in our service to We study vour problems, and apply the methods which a third of a cen- tury’s experience has proved produce profits. owners. F. SAUL CO. 025 15th St Better Than Gold! If you owned simply gold you wouldn’t 62% interest that our First Mortgage Notes yield. get the A real opportunity for investors of $100 or more. Your investment is secured by Dis- trict of Columbia Real Estate worth double the amount of the loan. Your interest is paid promptly the day it becomes due. Ask Our Mortgage Investment Department for Details 713,715 & 717 14th A special department —with an expert Busi- ness Prop- erty person- nel— Hedge 141935ye St.NW. Mlmgsos N A NN N TN s & Middletonke REALTORS St. N.W. Main 2345 —this is the service we of- fer Washing- tonians who are secking counsel in purchase sale of B ness Proper- ties. the 1= N NI KA N NI TN HROUGHOUT 2 long and re- markable career, which started as a tallow chandler’s son and led through printer, author, plenipotentiary to France Governor of Pennsyl- vania, oposvirtue ‘stood -out in the hfe of Benjamin Frankhn—mtcgrhy It is an essential trait for achievement and: success, Throughout a ness, Rheem&HenseyOom in o0, starting In bush- Swartzell, +has won and maintained a reputation before community t name, Today, and service founded on this for: inte we offer you the grity and* upon virtue has buiit a lasting good ey Swartzell, Rheem & Hensey Co., Mortgage: . T27-151h. Street, .V, WashingtonD.C: 632 Fifty-seven Years Without Loss to An Investor 6%