Evening Star Newspaper, April 11, 1926, Page 43

N D.C. MENTOATTEND INDUSTRY MEETING Congress in Phlladelphla to | Bring Capital and Labor Closer Together. 13 Washington is splendidly repre- sented on the national committee \vhich is arranging for the Congress of American Industry that is to be held in Philadelphia next September 1o establish closer relationships be- v capital ‘and labor by the free ion of the many problems ih which misunderstandings have so often occurred in the p: business men and industria Loader to lead the dis which pected to be So thoroug iational results. ry of Commerce Hoover and f Labor Davis have loug a are move to make E shington men on the T mittee include the followin; Cunningham, pre hington Board of T ite el tional com- ident of e; Wal- dealer; National Wil liam Green, president of " the Americs Pederation of Labor; Rudolph Jo: president Washington Cadillae John B. Larner. president W ton Loan and Trust Co. Lbwis, president Univergity: 1 Co. | can Fede Labor: James O'Co nell, American Federation of Labor; A. C. Oliphant, American Engineer: ing Couneil; H. L. Rust, head of the company by that name, and George . Shinn, attorney. The congress will open September. 7 and will last untll the 24th and is naturally to be held in connection with the sesquicentennial celebration in order to draw visitors from every In addition to the discussions and speeche i- pition, in industris States during llh“l past century and a half, will be in- | cluded. | The program. which so far is only tentative, provides for the discussion o the following subjects Declaration of Independen siitution of the United States gious liberty, education, sources, the agricult the chemist, the enginee distribution, {llumix , _communication stributor, the octations Jix vesponsibilities: the employ vesponsibilities; labor, industrial man- | gement, business ethics, human re hips and the future details of the congress are 1 Ly the Philadelphia | Commerce. The Wash ington men on the committee see in the convention i most unusual step | toward better relations in the indus. | i and business worlds Former Solicitor General Beck is especially enthus the idea. Great line has been made vears, he says, but sary to spread th laborer and employer each others | | James M. must the United “is artificial. | . devoted to the | We are all one cl common wheel | 1ask of keeping 1urning.’ the (). —The better b 98 19 looking ¥ April is NEW YORK, shipping business n earlier in the yvear, s ssident of the ntite Marine Co. for Iurope today. e getting heavier | ym indications. 11 ve u better year than Interna- | on_his tional Mere “our | think we will ¥ we had last year Mr. Franklin declined to comment | on reports of the pending sale of the ! company’s ships to_ British interests | . ‘other than to say, “We are always m‘ the market to buy or sell ships when an attractive offer is made for them | fand we think we could dispose of them 10 our advantage.” A deficit of ported by the ern Railway. s Peoria s iinst 4 deficit of | o sfel | arnsdall Corporation | qua estimated, were ! ‘pletion, depreciation and | lent o £1.30 and hand was Earnings of the first March partly 000, after Federal t to quick liabilities W 10 one. The compan k‘nl to sh alone over all liabili- g per cent de- Lentures and the cpital stock. i Prices of steel 50 cents a ton’ in the trict. heavy melting quoted at § last few ap have declined | Pittsburgh dis- 1 steel being | ton. In the | uctually have heen ma s said it would he virtually impossible to sell at $17. | One mill is reported to have declined 1o offer more than $16 w ton i Electric & Power ecarned | hare on the common stock Afl(‘l preferred dividends, 28 vear before. Net inconic compared with $1,646,915 in Reports in the financial district ucquisition of the properties of General Petroleum Co. by the Standard Ol Co. of New York had ween approved I vernment author- were denied by officials of the Standard Oil Co. Production of all Ly the International 1925 was 504.000 ton tons in 1924 Appre cent of the 1925 production was news print, or 310,000 tons, Production of high-grade paper w: e 000 tons during the y pally to acquisition of the Tic roge. Mill. Bleached sulphate pulp .md viscose produced and sold in 19 totaled €9,000 tons. The rmnmm_\ expects to produce this year about 00 tons of all grades of paper daily. with annual output of about 600,000 tons. | United Senator Lenroot and | eneral Ottinger of New are scheduled to address th Association of Stock Exchange Firms at the annual meeting next Friday. and Kardex Bureau of | for the first quar- » ‘increased 16 per cent | over the same period of 19 The report for the fiscal period ended March 31 will show redemption in full of the $350.000 of 7 per cent de- | bentures of Rand Kardex Company, | also redemption of $450,000 of. 514 per cent notes issued January, 1926. 'Cash lalance was $2,300,000. The company has no bank loans. The fig- road’s net income for 1925 decreased to $083,647 from $859,980 the vear be- lfore. This was equal to $5.02 a share on the $30 par stock, against $6.36 a ! share in 1924, The W. B. Foshay Company has purchased for $60,000 cash the prop- erties of the Midland Power Com-| pany in northwestern Minnesota. These plants, supplying the town of Brooks, Mentore, ~McIntosh and Fosston, are interconnected with the Minnesota Electric Light and Power Company, a part of the Foshay super- power system. BONDS CONTINUE SWINGING UPWARD Trading Goes Ahead at an Active Par,e—$8,000,000 Transactions. ¥ the Associated Press NEW YORK, April 10 Upward tendencies were well maintained in today's short session of the bond mar- ket, with trading carried forward at a relatively more active pace than in the stock market. In contrast to the usual Saturday turnover of about £5,000,000, todays transactions ex- eeded $8,000,000, while the volume of dealings was about the small est of the ye An unusually wide and vigorous lemand develoved for high-grade rail- ad liens today, carrying the average ce of these issues to the highest level of the year. Individual gains were not especially large, but scores of fractional advances were recorded. Participating in the upward move- ment were Baltirome and Ohio, New “entral, St. Paul, Pennsylvania, ,"" Erle, Denver and Rio Grande, Seaboard, Frisco, Reading and other representative issues. General Petroleum bonds on the surh rket rallied sharply on re- 3 they would in effect be- stock er plans. FLORIDA EAST COAST PROFIT. NEW YORK, April 10 (P).—lorida st Coast Railway earned $10 we on the common stock in 37 a share the year befo: Net inuunc- rose to $3,840,370 afte and charges, from $3,51 . von Hindenburg German Republi of $15,000 a year, expenses. Gen the as President | receives a with $18,000 of for THE SUNDAY STAR, WEATHER SENDS COTTONUPWARD Net Advances of Six to Elev- en Points Are Scored in Day’s Trading. | By the Associated Press. NEW YORK, April 10.~The cotton market was higher today on reports of further rains in the Southwest and apprehension of rain in the Western belt tomorrow. After seling up 'to 18.40, July reacted to 13.31 ander re- alizing, and closed at that figure, the general market closing steady at net! advances of 6 to 11 polnts. The opening was stcady at an ad- vance of 7 to 1% points. Active months sold 15 to 17 points net high- er after the call, on covering by near- month shorts, with trade in commis- sion_house buying of later deliverie Buying on the unfavorable weather news was stimulated by the relatively steady showing of Liverpool, which seemed to be influenced by the South- ern rain reports. The advance to 13.95 Zor May and 17.67 for October brought in consid: erable realizing for vver the week end and there were reactions in later trading. May sold bx 8 October to 17.58, the market closing at | about the low prica. The weather news was regarded by local brokers as growing in impor tance with the advance of the season, but the disposition of longs to take | profits on comparatively moderate ad. vances was considered due partly m, a feeling that there was still ample time to phant, and that the situation would not become critical until after the middle of the month. Private cables reported trade calling with local and continental covering in Liverpool, despite poor business in the cotton goods market at Man- chester. The report on boll weevil to April | 1 suggested rather an irregular emer- gence, and on the whole appeared to be without any particular effect on the market. The amount of cotton on shipboard | awaiting clearance ut the end of the | week s estimated at $2,000 ‘pleces | against 193,000 last year. ACTIVE IN NEW ORLEANS. Prices Score Fair Advance During Short Saturday Session. NEW YORLEANS, April 10 cotton market was active for turday sesslon and prices scored a | dvance during the early trading, to much better Liverpool cables than due, and to the very unfavorable showing by the weather map. Rains THE YEAR 1926 TO DATE ON THE WASH INGTON STOCK EXCHANGE. Furnished by W. Up to and Including Friday, April 9, BONDS & Pot. River R. R. T s 10,000 50,000 8.300—~ X‘ul -, Power 1st Power Con Power ( . Power & Ana. Bulu) s. Light Gen, Wardman Park Hotel 6s. STOCKS. : Capita]l Traction. 98 r\\u\hlnuon % Ry & Elec. com. Power int. ctfs. National Bank fetropolitan National Banl ggs National Bank. Washington National : American Security & Trust ~Continental Trust. i ~Union_Trust. shington 1 30—Columbia Title Insurance 58—D. C. Paper Mfg. ptd 2-—Lanston Monotype lerchants Tfr. & Storage fergenthaler Linotype.. Steamboat . Security Storage... 40—\Washington Market. )—Federal Storage pfd 3—Merchants ’I‘runifer 78—Chapin-Sacks e 4—Chapin-Sacks 7% 25—Raleigh Hotel Company 10—Departmental Bank.. 10—Northeast Savings Ban BONDS. 1,000—Metropolitan Club 412 % Ton | New Cileago | Nt. Louls | Minneapoiiv 1st 3s. . 6 HOW IS BUSINESS? Showing Current Business Activity Compared With Same Week a Year Ago GENERAL BUSINESS ACTIVITY for the countrs BN Dosils outside New York. compared with ACTIVITY BY FEDERAL RESERVE DISTRICTS Check transactions compared with the corresponding week of last year. B. Hibbs & Co. Close ! 951, 100 991 | Open. High 951, 1001 993, 1001, 87 s 10074 10015 1073, he h. LTS It by beak T Kansas City | .53 E] ==. Showing trend of Business in dollars (cllnks cashed) . E::’plo)ment( [Dept. of Labor) oo (it Endustrial Canfors n nce \\M:)lzule\ - es ( Iflullers lndex) Agricult ures do not include Globe Wernicke Company or the Safe Cabinet. Com- which are operated as separate ufacturing gorworations. The Lehigh e New England Rail- LEADING BAROMETERS =52 important factors. Present trend. Steady Increasing SM % Changes trom ;-.T Board) Decllnlnx Deellnln. Steady etemiotn ararseios s ol were heavy in the Western belt and the barometer lines warranted an of- ficlal forecast for further unsettled westher and ths exlennlon of the rain; the Easf over Sun- da.y Pflcas nined 17 to 19 points in the early trading. Lataer prices eased off gradually on realizing and week and llquldatlon flnd Bbout half of the was I he market clos- 1ng %t !he Towest reuhed durlng the ssion, but still 6 to 8 points net hlxher for the day. At the opening Liverpool was b to 7 penny points better than due and the weather map showed general and heavy rains in the Western belt. As WASHINGTON, D. ‘APRIL until May traded up to 18.27, and October to 17.04, yesterday's call, July to 1783 17 to 19 points above close. The market then started to ease off, the advance offeringa temptation to realize, and there was also the usual for over the week end. Prices reached the lowest of the recession in the final trading, with May down to 18.16, July to 17.73 and October to 16.92, or 10 to 12 points under the highs. The close was at the lowest. There were reports during the ses- sion of a better demand locally for spot cotton and these were later con- firmed by the official report, whicl h 11, - 1926— PART 1. BALTIMORE PRODUCE. BALTIMORE April ‘10 (Spectal).— Current receipts of native and nearby eggs have been running liberal the past week, slightly in excess of trade wants and consequently the market has ruled easy and values a_shade lower., Cold storage operators are still holding off for lower prices, al- though the rket closed today at 281 and 28% dozen for firsts in free cases, a drop of 2 cents a_dozen from opening prices Monday. With the ad- vent of warmer weather prompt and liberal shipments are advisable, as all held stock has to be sold at a discount. showing quality meets with ready sale at full quotations. Spring chickens 11, pounds and ver bring 50 to 55 pound, Winters, pounds and under, 45 and 50.. while large, smooth, fat young chickens sell*at 40, and poor and thin stock 30. Old hens continue in light receipt and good demand at 33 to 35, and 30 for poor leghorns. Old roosters steady at 20, while capons bring 40 to 45 as to s Receints of ducks fair but equal to the demand which is easily satisfied at 34 to 36 for large, fat stqck, and |21 43 Pigeons in good demand at 40 a pair for both young and old. The white potato market continues strong’ under mollerate receipts. but good the market rules 5. 100 1bs., and and No. but it takes well graded stock to bring outside quotations. Market for sweets ml yams rules easy and val ues a s with top prices of 1.0024.50 2 barrel, obtainable only on good, dr; stock. 1ls “and ) not” bring o 2.00a3.00 bushel hampers sell . as to quality and vy 1.50a2. and condition @ result first trades showed gains of 10 to 14 points and the market con- tinued to advance after the opening ™ showed sales for Exports for the, day bales. HE Studebaker Duplex gives you n ome car the advantages of both an open and an enclosed car. There’s a thrill in driving it as an open car that no closed car can ever give you. Thou- sands of open-car enthusiasts, forced for a time to sacrifice open-car enjoyment because of the inconvenient, unwieldy side-curtain arrangement, have now become Duplex owners. Open or closed in 30 seconds Smartly finished roller side enclosures are concealed in the top—out of sight— ready at a moment’s notice to be drawn, giving you complete protection from rain, storm or cold winds. In 30 sec- onds the airy open Duplex becomes the snug enclosed Duplex. It’s as easy as lowering the shades in your home. And just as easily, when the storm is over, the enclosures again roll up out of sight. No need to stop even for a minute, no need to leave your seat and search for the old-type, flapping side curtains while you and your guests are exposed to the weather. The Studebaker Duplex has made the old-fashioned touring car obsolete. Unlike the old-style touring car—the Stude- baker Duplex has a sturdily built upper struc- ture, an integral part of the body. Thus, in addition to double comfort, the Duplex offers Potomac 1631 44 | 43 i 2 the day of 2, totaled general iive poultry the double safety. top touring car. Duplex leads quality open-car sales So cbvious are the advantages of the Duplex that it has swept Studebaker into a dominant position of leadership among all open cars selling above $1000. Last year almost half of the open cars sold in the Studebaker price class —were Studebaker Duplexes. That’s because it's the only car on earth that combines open- car freedom, closed-car protection, comforf, convenience, smart appearance and safety ! - The Duplex convenience on seven models Standard Six Duplex-Roadster. ... Standard Six Duplex-Phaeton. .. # Special Six Duplex-Roadster Special Six Duplex-Phaeton Special Six Sport-Roadster (4-Pa-s) Big Six Duplqc-Ro:dst:r. i Sven Big Six Sport-Phaeton Big Six Duplex-Phaeton (7-Pass.)... Al prices f. 0. b. factory These Studebaker Duplex models may be pur- chased out of income at the lowest time-payment rates known to the industry. COVINGTON—Noell Motor Sales Ce. Ine. = ence % NORTH moum\ (Northeast) FRONT BoTAL—Raral Saes Co KILMARNOCE—Pruett Moter Co. LEXINGTON—W. 8. McCown market ery firm on all lines with exception of ducks and all stock The upper structure is built so strongly that it will support the entire weight of the car in an upside down position. Time and again, since this revolutionary type of body was pioneered by Studebaker, it has proved its sturdiness by saving lives in accidents which would have been fatal in the old-style, light- e 1S RMN.::WII&C‘!O& Motor Co. to 30 for poor and thin rea fowl continue scarce and 5 each for young, and old and stags. If you need work, columns of The Star. read the want — In 30 seconds— Obpen to the sunshine or closed against the storm Studebaker Standard Six Duplex-Phaefion $1145 = World’s most powerful car of its size and weight AL,(.ORDIVG to the rating of the Society of Automotive Engineers, the Studebaker Stand- ard Six Duplex-Phaeton, illustrated above, the world’s most powerful car of its size and weight. It comes to you completely equipped with gaso- line gauge on the dash, automatic windshield cleaner, rear-view mirror, cowl ventilator, stop light, air cleaner, gas and oil filters and coincidental lock to steering gear and ignition controlled by the same key used for the lock on spare-tire carrier. Lights are operated from the steering wheel. Spark cone trol is automatic. Only Studebaker builds the Duplex—only Stude- baker with its enormous One-Profit facilities cam build it and sell it completely equipped, at the price of the old-style open touring car. Studebaker builds all its own bodies, all engines, all clutches, gear sets, springs, differentials, steer- ing gears, brakes, axles, gray-iron castings and drop forgings. Only Studebaker in the fine-car field enjoys such complete manufacturing facilities. One-Profit walue These facilities enable Studebaker to manufacture quality cars on a One-Profit basis—eliminating outside profits. The savings thus effected are passed on to Studebaker owners in the form of higher quality and lower price. Always kept up-to-date Direct manufacturing control enables Studebaker to keep cars constantly up-to-date. We add improve- ments regardless of the calendar—we do not sav them up for spectacular annual announcement which make cars artificially obsolete. For a com- plete illustrated story of One-Profit manufacture and for a beautiful colored catalog of Standard Six Studebakers, drop a postal to The Studebaker Cor- poration of America, South Bend, Ind. Ask for Combination D-263. .$112s 1395° 1445 . 1595 1495 1575 1775 JOSEPH McREYNOLDS Fourteenth at tudebakers Great Dealer nguzatwn Authonzed serviz at 3000 p:mm througlmut the T hnited Stales me. -. Cerp.. L“mlfl—lwl ROANOKE—Jarrett-Chewning Co. STAUNTON—Deffenbaugh Motor Oa. SUFFOLK—Nansemond Motor Corp. WINCHESTER—Winchester Aute Sales Motor Co. ‘WEST VIRGINIA (West) OHARLES TOWN—E. C. Smithon & IAII'IIIIVIG-;V.II. Motar Do PETERSBURG—] ROMNEY—New Century Garage N—Carpenter M e Mir.Co. umo%: nmn—x-.-n Nm Moter