Evening Star Newspaper, November 4, 1926, Page 14

14 TRADING IS BRISK IN FISH MARKET Easier Tone Noted in Poultry Prices—Oysters Reported More Plentiful. rhere was the usual Thursday ac- tivity at Municipal Fish Market in evidence today, and early morning huyers tomorrow probably will be on tiand in increased numbers, dealers Laving many offerings for the Friday trade. North Carolina netters are furnish- ing - local dealers large supplies of jumping mullets, a fish that is one of ihe favorites in the South, but about which local consumers know little. The meat of the fish is very firm, according to dealers, and the roe is d to be equal to that of more ex- o varieties of fish. Large mul- were quoted at 15 cents, a price 10 cents being quoted on the smaller ones. Salmon Trout Cheaper. New Jersey and North Carolina sishermen have sent large shipments f trout to this city this week, and i salmon trout, usually quoted at 5 or more cents. were offered today Ordinary stock sold as s 10 cents. Whiting and ling. also products of New Jersey fishermen, were in de- nd at $7 a barrel, or 314 cents a Norfolk spots, rather scarce . were quoted at 15 cents, while rockfish sold at 15 cents. Boston mackerel, not so plentiful, were quoted at 18 cents, while had: dock, also not plentiful, 7 sold_at 7 cents. the fillet of haddock bringing | 13 cents. Fresh cod were quoted at 121; cents, also a higher price. A price of 7 cents was quoted for pol- k, and white perzh, not very large, | brought 15 cents. Oysters Are Plentiful. Opening of the dredging season No- vember | has resulted in more plenti- tul supplies of oysters. Standards were quoted at $2 a gallon and selects t 8 Shell stock from river points sold at $1.50, Norfolk's sell- ing at §2 Crab meat continues plentiful at $2 & gallon. Green shrimp were offered at 25 cents a pound, cooked stock selling at 50 cents. Clams were §2 a hundred, scarce, it is stated, because of the opening of the dredging sea- son for ovsters. An easier condition of the poultry market was reported. Live turkeys continued to sell at 35 cents, dressed stock bringing 40 and 45 cents.| Slight decreases in prices of roosters and White Leghorns was reported. Today’s Wholesale Prices. one-pound prints, White Leghorns, roosters, 18; ducks, 32a33; keats, young, £0a90: old, { Meats—Beef, 18a19; veal, * 22a24: s, 28a30: shoul- | : smoked hams, | moked . 20a TLive stocl choice, 14; me- dium, 13al4; thin, 7a8; lambs, 13. Fruit and Vegetable Review. Today's market report on fruits and wvegetables, compiled by the Market News Service Bureau of Agricultural | Economics, Apples—Supplies liberal: demand | moderate, market steady; boxes, Northwestern, medium to large size, Deliclous, 3.0083.25; extra leru] ; extra, hushel bas- nd Virginia, No. 1, eties, medium to large 3 few L. Maryland, 1, Staymans, inches, 1.00; 2% and 3 inches, 1. Cabhage—Supplies liberal; demand moderate, market fairly steady; New Y bulk, per ton, Danish type, 5 0.00. upplies moderate; demand . ‘market steady; New York, | crates, 3.00, mostly | 5, full crates best mostly | Two-third avound 2. 450. H Grapes—Supplies moderate; demand | limited, market dull; Michigan, 12- auart climax baskets Concords, 40a4, fow 50. New York, 2-quart climax haskets Concords, 14215, few as high 12.qt. climix basKets Coneords, moder- demand “alifornia, dozen, 3.00a Lettuce—Western supplies 3 pplies light ket steady Iceberg type, 4 rgin orfolk section, crates, big Boston type, fair and condition, 90a1.00. Onion Market Steady. Supplies moderate; demand market steady: Ohlo and 100-pound sacks, vellows, 00a2.10. ew York, 100- . yellows, U. 2-dozen quality Michigan, 1. 8. No pound s 1.90a2.00. Pears—Supplies light: demand light, market dull; Oregon, boxe: 1.0024.25. N Yor Seckels, 4.25-4 m haskets Bartletts, ~torage: No. 1 el kegs light; demand Michigan United vlvania United York Ntates N 30-pound States, No. 350-pound s S, : Maine 150-pound reen Mountains, United States, , fair condition, 4 Potatoes—sSupplies light; ma moderate, market stronger: North Carolina stave barrels, vellows, No. Tomatoes— slightly cloth-top <upplies moderate: market s 11 size, 2.50; ordinary s 1.50. upplies moderate; market firm 1.50; um size, 3.00; condition, low Caulifiower- moderate, Long Island crates, de- New few »pers—Homegrowns supplying the ket. tring beans—Supplies moders ‘nand moderate, market firm for good Anjous, ; United | de-| FINANCIAL NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office Following is a list of bonds and stocks “traded in on the New York Curb Market today. Sales INDUSTRIALS, inhunds eds. TR ZATb Pick Bar vio ‘13% 1 SAm Br Bov EI F 20 1i 1Am Cyanamid pt #83% 8! 4Am Gas & EI .. 1085 108 Am ve 96 ] an S 10 10 & pr-130 P 97 ouogom - , 2Bt oustd 1o DR R R s = 2 258l hccasis o e W Fracsinamn ot onstd B - 0SwDEoD Tk 5o I 5 w2 w0 wes £ wad 1= B3 2 33T RERESNIS 3 2 Eon O RENNIEEFESTE SRR R d;f&i o - w0 2 T0m b tuoraeatacse AR R B oo o N ) 1321910 B 0t S D s s St s TEIRUR S £ iz e D 19 ssmiinesaSiomioio Do) o ha S RS BN R B0 R e B A DL B LA DS A S D ) SRR E a R S P ERERSRRERR B =3 s Ly u Sapne] 2 5 - e e SRR et i3S BEE 5o n i Aan . FE e B 9 EA I 5 ssamn Do 10 &8 oz p D g2, - e e e e FEFER I SR FIISSRR DR PSS S 2 e} 2 B Bresies: u-;:?‘?b‘d in hundreds. > ° ) 2,.52:33003 - Rl & St 2530331 2w T Mason " Val 1 Newniont Min 12 Noranda 2 40 Ohio Con 10 Plymonth L 5 Pond Creek 3 Premier Gold M 10 Red Warrior " 13 10 Reorzan Weat Di 20 Spearhead Gold.. . 3 Tono Belmont 1 Tono Min ... 10 Tri’ Ballion” 1Uni Verde Ext SDR0ID iR oob sy Dol bl 284 RO BATR DD DR IIR DR & ode B3e33a0nn & r2 i ey Washington Stock Exchange SALES. . 1 natat b, ¢ §5:000 at ps. $10.000 ‘at 98, ogapital Traction Co.—b at 104, 10 at 'wa.-MnE an, Lisht—-10 at 71%. 20 g T8 L a1 71910 at 7 ™ Washington. Rws. & Flec. Bd—20 at 9015, 10 at 901, . Lahston Monotype—G at 02%. AFTER CALL. Mergenthaler Linotype—1 at 105%. Mones—Call loans, 5 and 6 per cent. Bid and Asked Prices! BONDS. PUBLIC UTILITY. it e ] ¥ ic ! Tel | Capital Traction R. R. 38 City & Suburnan 5 Georgetown Gas 1st b Potomac Elec. 1st b3 Potonme Elec. cons. 58 Potomne_Elec. Ge 105: Pot. El. Pow. £. & T. Wash.. Al | Wash. Alex Sor050z052D 2230083038233 r 0! R S5, HODO! a8 < wen, Bh | MISCELLANEOU { Chevy Chase Club 5e. | Chesinut Farms Dairy 83e. 1p.°C. [ | | Sontniern Bldg. 6138 Wash: Mit, Cold Sto Warhman Bark Hotel 5% STOCKS. PUBLIC UTILITY. e @ g i T Arfolk & Wasl | Potomac | Wash. Wash| Rw a1 e 23535 333223 assate B st | S {onal Meiropoiitan.. Bt s 4Wenden Cop ... 2% 2% 2 Sales INDEPENDENT OIL STOCKS. in hu Oilfids.. .7 1 aracaibo ¢ Nat Gas. m Oil 3 = Am Am B e Sy e GoneSaste-dt oara cara QMO =§E - @ = @ = = 23 8,20 » 2 i 20003 Bea B oe300 B BBIB BB Buntonnn®IBte orom 19553 Cal o s 0 i Sl i 53 I 238 FREE FE WS R PRSI RIRIRESEE o 238 ERER FEER A R NG RSERNS ®R RN i FIERTRR IS Fo R FRRN SR Suieon =L Srmensron T it < SaeINaRED: ERES ek i i Sales ~STANDARD OIL ISSUES. in units, 1400 Continent Oil 70 Gal S0 of 3 50 Solar Refl 400 South. 31008 O Sales in thousands. Alum 78 F =5 [ SR EPEE i P 6s A.102% Ter Of B 616100 7% 09 ) LSS SooEs NESEES 2222 A Cal Cons oy Ney 1N O T&M 3 R B 1 ‘13 R fn Sm & R6 1Un R Hi () 20 8 1 81 7 10874 108 100% 100% FOREIGN BONDS. 4 Antioqua 7s A. 03% 93 7 Antioqua 7s B < 9 !‘Iulc(n'. 'A!n s o D s Danish Cone 5% 7 Denmark B s 94 Mor B Denmk 68 100% mozz S0 EeEt FRIEREG & I PR 233289355 SR3R2UR32S Sooe5a: *Ex-dividend. ‘WOOL MARKET SLOWER. BOSTON, November 4 (Special).— The wool market displays no marked reaction to the elections. Although a somewhat slower volume of business was noted today, the market has been slow for several weeks since the un- settlement developed in foreign mar- kets. Dealers generally are holding delaine for 46c grease basis, but sales are fewer. Sales of territory wool at concessions are reported, with north- ern California types at $1.10 and French combing at $1.05 clean besis. Oregon wool in original bags has moved at the equivalent of $1.03a$1.06 clean basis for strictly combing wool. DOEHLER DIE CO. NEW YORK, November 4 (&), Doehler Die Casting Co. earned $3.13 a share on the common stock, after preferred dividends, in the first nine months of 1926, net profit rising to $502,290. This compares with net profit of $282,691 for the same period of 1926, or $1.66 a share on the com- mon, —_— BUTTER IS HIGHER. CHICAGO, November 4 (#).—But- ter—Higher; receipts, 3,577 tubs; creamery—extras, 47; standards, 43; _ionds, 35a3 extra firsts, 44a46; firsts, 3912a42; sec- Eggs—Lower; receipts, 8,172 cases firsts, 42a46; ordinary * | firsts, 37a40; refrigerator extras, 35; * | refrigerator firsts, 3. . — SEEL FOUNDRIES PROFIT. NEW YORK, November 4 (P).— j quiet today. | y MUCH MILK COMES *| FROM NORTHWEST Long-Haul Business Carried On in Dairy Products Is Profitable. BY J. C. ROYLE. Speclal Dispatch to The Star. NEW YORK, November 4.—Trans- portation of milk and cream no longer is a short-haul business. New York, Philadelphia and other cities along the Atlantié seaboard as far south as Flor- 1da are drinking milk and eating ice cream made from the product of the cows of the Northwest. ) This new line of endeavor in the dairy business is being developed ac- tively by the Land O’ Lakes Cream- eries on, which is a produc- ing and selling organization in Minne- sota. and other Northwestern States. This organization has 430 factories and represents a union of 85,000 farmers. Huge Income Received. i These members in 1926 will be pal between. $40,000,000 and $45,000.000 for their dairy products. The output of. the association up until now has been chiefly butter, but the activities have been broadened to include shipments of frozen milk to Eastern ice cream manufacturers. Fluid sweet cream shipments are being made at the rate f 350 cars per year. 3 Wisconsin is shipping exs»nslvely to Philadelphia, Atlantic City and Baltimore. In February of this year the first shipment of milk in special tank cars was sent from W isconsin to Florida. These cars were equip- ped with an air circulation attach- ment which made the use of ice un- necessary. Twenty-five of these cars of milk are being received in Chicago daily from Wisconsin and other West- States. . er“More millions have been made by taking the water out of milk than have been lost through the putting of water into stocks. And the Land o' Lakes Association now melu:::::cd in taking the water out of bniter- milk as stlL A plant at Litchfleld, ! Minn., is entirelyéfevoted to produc- iny wdered buttermilk The pow- defiemultermnk is bringing about 12 cente a pos a pound to manufacture it. In addi- tion enough butter tat is being re- covered to pay the operating and overhead costs of the’factory. Has Many Uses. The powdered buttermilk is used in the manufacture of bread, pan- cake flour, ice cream, candy, sausage and in animal feeds. Bankers in the Northwest declare there is a large existing market and a growing de- mand. It is probable that the output of evaported sweet milk this year will be approximately a billion four hun- dred thousand cans. Per capita con- sumption of “canned cow” is usually estimated at 11.25 cans per inhabitant in this country, and considerable of the product is exported. This indu try was practically unknown 40 years ago, and_the man who perfected the process, Louis L. Latzer, of Highland, 1ll., started as a farm hand, and died a couple of years ago worth $20,000,000. NEW YORK, November 4 (Specilll). —Cotton_ goods markets continued Print_cloth quotations were unchanged at 7 cents for 64x60s and 7% for 68x72s. Raw silks were quiet and unchanged in prices. The NOVEMBER 4, 1926. Public Utilities Spectal Dispatch to The Star. . NEW YORK, November 4—One of he most remarkable earnings state- ments in recent months was given out today by the Associated Gas and Electric Co. Gross income of $27,- 679,034 during the 12 months end- ing September 80, compared with $14,341,612 for the preceding 12 months, an increase of 93 per cent. Net earnings applicable to minor- ities and amortization of debt, dis- count and expense were $12,349,505 against $5,250,180, a gain of 185 per cent. Balance after subsidiary pre- ferred dividends and interest and after Associated Gas preferred divi- dends and depreciation was $2,310,- 412, agalnst $890,208, an increase of 159 per cent. Earnings applicable to class “A” stock were equivalent to $3.97 a share. October powér output of the Penn- Ohio. system was 47,857,494 kilowatt hours, an increase of 19.2 per cent over October, 1925. For the 12 months ending October 81, output totaled 500,452,995 kilowatt hours, a new record and an increase of 30.6 per cent over the preceding 12-month period. Announcement was made today that the Public Service Electric and Gas Co., operating subsidiary of the Public Service Corporation of New Jersey, will reduce electric rates in January. The resultapt saving to customers was estimated at nearly $1,000,000 annually. ATTEMPTS TO HALT FRANC’S CLIMB FAIL Export Trade of France Likely to Suffer if Currency Goes Much Higher. Dy ihe Associated Press. PARIS, November 4.—Efforts by the Bank of France to put the brakes on the rapid rise in the franc, which has been going on for several weeks, has failed to halt the bull movement, and the French unit of currency to- day reached the highest level for many months when it closed on the ourse at 29.63 to the dollar and 143.65 ! to the pound sterling. he franc is now thought by spe- cialists to be very near its actual present value, while it is far above the rate at which French industries bought a great deal of their raw ma- terial, If the present rate holds, it may be possible for the manufacturers to work up the materfal and export it at a small loss, the experts say, but if the currency goes much high- ei, the export trade will suffer. The Bank of France has been buy- ing pounds and dollars on every point drop for more than a month in an endeavor to steady the ex- change market so as to give time for industry to turn around. Persons gambling on the eventual revalorization of the franc are too numerous,. however, and the market is still out of control. " EXTRA DMDEDS. NEW YORK, November 4 (#).— Casein Co. of America declared extra dividends of 3% per cent on the pre- ferred stock and 1 per cent on the common, in addition to regular quar- disbursements of 2 per cent on the preferred and 1% per cent on the common._The preferred dividends are payable November 12 to stock of rec. ord November 10 and the common on November 15 to holders of record No- vember 6. COTTON IS EASIER INTODAY'S TRADING Lower Cables and Prospects of Larger Crop Report Bearish Factors. By the Assoclated Press. NEW YORK, November 4.—Cotton futures opened easy; December, 12.23; January, 12.32; March, 12,58; May, 12.83; July, 13.06. The market opened today at a decline of 8 to 20 points, active months selling about 10 to 12 points net lower under further liquidation and continued southern hedging. Local selling was promoted by rela- tively easy late cables from Liverpool, while there was continued talk of a probable large crop figure from the Government at the beginning of next week and heawy ginning returns up to November 1. Trade interests were good buyers on the initial decline to 12.31 for January, however, while there was considerable covering and prices showed rallies of 4 or 5 points from the lowest at the end of the first hour. Private cables said hedging had been absorbed by trade calling and cover- ing in the Liverpool market and re- ported more active business in cotton cloths with India. Two private crop reports were is- sued during the morning, one placing the indicated yield at 17,300,000 bales, and the ginnings prior to November 1 at 11,100,000. The other estimated a crop of 17,872,000 bales and estimated that 66 per cent of the crop had been picked and 1 per cent ginned. Neither report had much effect on the market, which was quiet but steadier late in the morning. January rallied to 12.42 after the early offerings had been ab- sorbed and was selling around 12.40 at midday, when the general list was about 2 to 6 points net lower. New Orleans Market. NEW ORLEANS, La., November 4 (#).—Cotton futures opened steady:| EDWARD B.SMITH & CO. Members N. Y. Stock Exchange NewYork Philadeiphia Boston Investment Securities Corporation Financing Commission Orders 1508 H St., N.W. WASHINGTON i James Donald Cassels Manager - FINANCIAL. December, _ 12.3! January, 12.37 March, 12.55; May, 12.76; July, 12.95. First trades in the cotton market here today showed losses of 2 to 7 points, despite the easy opening and favorable Liverpool cables. Favor- able weather in the belt and fears of a large crop estimate caused prices to ease off further to 12.29 for December, 12.37 for January and 12.55 for March, or 7 to 9 points under yesterday's close.. The market encountered good trade buying on the decline and prices later advanced several points. Liverpool Quotations. LIVERPOOL, November 4 (#).— Cotton, spot, fair demand: prices easier; American middling, fair. 8.33: strict, good middling, 7.83: good mid- dling, 7.48: strict middling, 7.2 dling, 6.88; strict, low middling, 6.53: low middling, 6.03; strict, good, ordi- nary, 5.68; good, ordinary, 5.03: Sales, 7,000 bales, including 3,700 American. Receipts, 15,000 bales; American, 14, 000. Futures closed quiet. Novem- ber, 6.63; December, 6.66; January, 6.72; March, 6.81; May, 6.90; July, 6.95; October, 7.08. TRANSFER TAX RECEIPTS. NEW YORK, November 4 (#).— Stock transfer tax receipts in New York State for October totaled $1.- 190,986, against $1,090,307 in Septem- ber and $1,773,590 in October last year. Organized 1844 With Over a Century’s Experience —to draw fpon, it {s not to be wondered that “Metropolitan” service provides so amply for every conceivable bank- ing situation. 1| An institution that has successfully weathered the financial storms of so many decades, must be well equipped to serve you acceptably. fWe invite your account. 3% Paid on Savfngs Safe Deposit Boxes National Metropolitan 112 112 Old O1d Capital, Surplus and Undivided Profits, Over $2,000,000.00 15th St. opp. U. S. Treasury A SOUND DIVIDEND North American ystem Issued for cash on outstanding subecription war- In payment of dividends on Common Stock ...... 9,789,224 POLICY HE policy of paying regular quarterly dividends in Com- mon Stock—2%% quarterly—inaugurated by this Com- pany in April, 1923, is equivalent to combining cash dividends with rights to subscribe at par for additional stock. It differs, in effect, from a practice, long established among corporations of paying dividends in cash and offering subscription rights, only in that it gives stockholders more frequent and con- venient subscription privileges. Common Stock issued since the present dividend policy was adopted three and one-half years ago has been as follows: Total increase.. . ...... Outstanding September 30, 1926. ... . Par Value ... $22,556,950 Par Valwe Increase 34% 8% 7% . $7,549,467 .$17,338,681 The Common Stock issued in payment of divi- dends was equal to about 7% of the cost of met additions to plants and systems of operating sub- The electric industry has, on the average, doubled in periods of approximately five years. The necessity of extensive use of electric power in practically every important industry to keep down production costs, and the many new applications of its use for both do- mestic and commerdial purposes, assure the continued sound growth of the industry. 17,338,681 .... $39,895,631 in order to earn and retain public confidence and retain the exclusive right to serve their territory. Their financial position should be such as to warrant the highest credit and encourage a free flow of the large amounts of needed capital. A conservative stock dividend policy is admirabl; should obtain ahout one-half of their capital require- ments by the issuance of bonds, and the balance by preferred stocks, sold locally, and by common stocks. The pareat company must make additional imvestments in the common stocks of its operating mbsidiaries in order to maintain well balanced + mid- PROFITS ARE LARGER. NEW YORK, November 4 (#). Business of Fairbanks, Morse & (o for the first nine months this vear ‘was more profitable than in the cor- responding period of 1925, net income rising to $2,446,101 from Third qugrter net incom declined to $813,029 from the third quarter last vear. 31,908 in SILVER QUOTATIONS. NEW YORK, November 4 Bar silver, 53; Mexican dollars, @) . 101, — G. M.-P. MURPHY & Co. f Members New York Stock Exchange Successors to JOHN L. EDWARDS & COMPANY 1416 H Street Northwest 52 Broadway, New York Richmond, Va. Newport News, Va. Slmammm mmmerflm@mmmmmg HE fact that we have made many profitable el o) BRIt transactions for clients gives us confidence that we can correctly advise you On i City Central Location Business Buildings Stores REREER R i WRORRE Warehouses Apartments City Central Property Dept. {SHANNON -& LUCHY 713 14th S§t. N.W R Main 2315 Joseph Addison- 1672 ~1719 DDISON was educated by his family especially for thediplomatic service and served notably in that line for a number of years. But when he had reached the age of thirty, a new political party came into power and he found himself without a job or prospects. For almost eight years he barely existed while he was trying to sell his writings, and then came his enduring con- tributions to the Tatler, and later, to the Spectator. 1f Addison had saved wisely during his early career and invested his earnings, he would not have had to experi- ence the years of hardship preceding his literary success. ‘That is why wise business men today invest their sur- plus earnings in our 61%4% First Mortgage Notes—to protect them over a lean per- iod or to insure a safe and comfortable later life. Well operated public utility companies must keep capital structures and preveat impairment of pace with the growth of the communities they serve their credit. Our dividend policy provides & ressemable part of the funds required for invesime nis by S“; rt ll Proft. rose 1o $LO40STL from. $235,555 The North American Company in the equitics of its subsidiaries. artze | in the third quarter last year. Hear Argument December 9. H e ns THE NORTH AMERICAN COMPANY eyCo. Final argument in its investigation geBanleem 60 BROADWAY, NEW YORK into the receivership of the Chicago, Milwaukee and St. Paul Railroad will 727-15% SUNW. WashingtonDC. stock: Norfolk section, Virginia, hampers, green, wide range qu 2nd condition, Florida, bushel hamper: - | American Steel Foundries report net | profit of $3,965,962 for the first nine | months this year, equal to $3.87 a | share on the comon, against $3,623, | 568 for the same period of 1925, or SAVINGS BANK | o ce & Savings. Font W ashington Se ity Savi Seventh Street. United States. ‘Washington X FIRE INSURANC American - &icoran Firemen s ational o2 & tret Are You a Sucker? Too many people put thelr money In day dreams and wake up broke. Never put your name on the dotted line until you have inquired of some * one in your bank what he knows about some stock issue that is of- tered to you privately. TITLE . INSURANCE. — Columbia Title. Real NEW YORK MARKETS. | flt ivi'or'sd nv. of Md. com. NEW YORI November 4 (M.—I MISCELLANEOUS. Flour, easy: Spring patents, 7.40a 7.90; soft Winter straights, 6.25a6. hard Winter straights, 7.25a7.65. Rye, easler; No. 2 Western, 1.055 f. o. b. ~New York, and 1.03% c. i. f. export. Lard, steady; Middle West, 13.55a §5. Wheat futures opened steady: astic, December, 1341 May, ther &rticles unchanged, be heard by the Interstate Commerce Co‘ximnlnlon in this city December 9 and 10. # b BANK CLEARINGS. NEW YORK, November 4 (Special). i, o, e e S A H jow orl $118,000,000; New York Federal Re rve Bank credits, $95,000,000. D. C. Securt Washi AT