Evening Star Newspaper, January 4, 1927, Page 12

12 D. C, TUESDAY, JANUARY 4, 1927. THE EVENING STAR, WASHINGTON, ——————— LOWER EGG PRICES EXPECTED SHORTLY Large Shipments of Rabbits Received From West and Nearby States. Continued pected to result egg market, a condition that dealers have been anticipating past two or three weeks. Igg pric dropped 2 cents in Chicago and 1% | cents in New York vesterday, ac- cording to word received by local dealers, Slight breaks the two b been reflected Local dealers early break weather soon is experie A reported continued firm tion of the butter market was ported this morning, but no change in prices of pouitry and numerou other commoditics were reported.’ Numerous large shipments of rab- have been received f{rom and Maryland and Virgin t few days, dealers reported ver D rule Today's Wholesale Butter— B9a60; b, sggs—IEresh ent open weather in a break is ex- in_the loca the | in w0t rket n sS severe the markets egg < have in the local ms feel confident of however, 1 in condi- re- Prices. prints, | pound packed, hennery, | 45048 MEN AND MONEY By M. S. Rukeyser. (Copyrig! As the country enters the new year {the trend is even more than in the past toward big business units in the United States ' From th reers the business on ishing, bi who can small busi ndpoint of personal ca- goortunities to set up in ne’s own may be dimin- he demand for executives rn far more than most ss men is at a new peak This is the era of the hired man ng to be more. big jobs More than 1.100 corpo- ortant eno! h to have listed on the New York e alone. Thousands of listed in out-of-town ma led in over the counter. The expansion of high sounding cor: s goes endlessly Ac- end, one <o many vice presi acquainted only chance on golf the titles s are used to reconcile ambitious to comparatively low vies. » jobs paying upward of $50,000 a year » more numerous tt be- fore. The more progressive corpora- tions a in addition givin leading executives wre in profits or an op portunity uy stock on favorable terms. trust company dents that they get when they meet by ometin to Status of Corporations. The new status of rations_is so unprec past offers little is developing a ne American corpo- sdented that the idance. Busine and better type of leadership, but only the press agents purport to believe that every senior officer of every corporation is a Napo: leon of trade and finance. The chief rage, it ens, 2Ta2 Towls, 26 young. B0abi; 45448] capons, smaller, 40a42 keats, young, 80190; rab- | bits, No. 1 3 | Meats—B 4 : Jamb, shoulders alive—Turkeys, 405 chick- | White o.d, 2 5230, D fancy chicken old < v fresh 2 3; loins, J | hams, smoked shoulde a28. | Live stock—calve @ium, 23; thin, 6a7 t and Vegetable Review. 's market rep: on fruits and D compiled by the Market s Service Bureau of Agricultural Economi : ; Apples — Supp liberal; demand moderate, market steac ly; barre New York, A 2%-inch up Rhode Island | es, fow -sales, 5.00; boxes, med; , choice, H e- | ambs rn, 50, mostly Jand and Vir > 214 inches up, 1.00al. fine quality condition, classified, various varicties, up, 50a75. b ‘Cabbage — Supp! old stock, New \mh Danish type 00; new s bushel hampers round typ mostly Celery—Supplies moderate; l:‘m.m:l\ moderate, market steady; ( | crates, § few i demand | change in Jceberg type, Arizona, crates Iceberg ty .00a3.50, mostly 3.00a3 ! Onions—Supplies moderate; demand | moderate, market steady; Michigan, 100-pound United | States, No. 3.00a3. Ohio, 100-pound United | lar ;.,e size, 90; Potato Market Stead upplies moderate; de mand moderate, market steady: Mich- igan, 150-pound sacks, Russet Rurals, United States, 0ad.75; Maine, 120-pound _sack Mountains, United States, Spinach — suw.lm mand moders arket steady; bushel baskets, Savoy 1yl 1.0 Norfolk section, Vir top veneer barrels, Savoy 1.75, mostly 1.50. Sweet potatos mand modera Shore, Marylan Yellows, No. 1, 1 lina, cloth-top stave No. 1, few sales Peppers — Supplie mand moderate, mat er; Florida, pepper crates mostly 4.00, few lower. Strawberr] Supplies light; de- mand light, market steady; Florida, Missionaries, 70a75 per quart, mostly 70 per quart. String beans stronger; green, best, mostly ordinary. to falr condition.2. 6.39 PCT. 1526 PROFIT OF PHONE COMPANY @pecial Dispatch to The Star BALTIMORE, January 4.— hone revenues of the Chesap otomac Telephone Co. for the ef 12 months ended November were 735.42, acco statement filed with the Public Serv-| ice Commission. This net revenue is 8.39 per cent of the average valu the telephone property for Laat b The statement vevealed capital expenditures for new ment for the first 11 showed an incre: over the same peri Gross revenu were $1,014,684.50 jod of 1925 th The also showed compar statement of October 5 (il’(-(n 4.00. moderate; de- Texas, mostly | cloth- | Supplies ligh , market ste bushel moderate; de- | slightly weak fancy, best, | | | | Supplies light: mark -bushel hampe; 5.00; holdov 2.50a4.00. Net tele- equiv of | vy th equip 19 also v onths of ihe revenue fc n inere with were | ase | the | BOAT AND SH.IPBUILD!NG 1 The output of private est engaged 1n ship and st ing, inclu rep: 6.9 per vent in v pared with th of 1923, census day, placing the 151,000 Linst pair work, valued stituted 50.3 There were 865 wooden ve over during were in operation, inc York, 51 in Calitornia pey, 41 in Mass Washington State total cel con- | and | tons or plants | PIG IRON LOWER. NEW YORK, semer pig iron has a ton in the I Wtions ranging from $19.50 to $20 a wn. Januar PRODUCTION AT COST. NEW YORK, January @uction in the Seminole Jahoma, touched a new 000 barrels in the 24 January 3. ) oil field, peak of hours Ok ended ACTIVITY FORESEEN NEW YORK, Junuary 4 Youngstown dispatches the pri- mary steel trade is preparing for an active period this month. Production and shipments of finished steel are () | evil of the undue boosting I ahak | But {be the chief sa | who is the | need « |t i 1 ag | more | th | itse PLANTS PRODUCE LESS |- Pro- | sorporate satellit these by their is presidents own to accept accurate s times t useful friend t the most has is - of eco. Hary At first blushethis statement will seem prising, for more than a ye: Ripley, irticles and speeche | has forcefully attacked certain abu which have crep: into recent p in my opinion. Wall Stree ther places, needs criticism needs it conti y»uwn\l\ When the lat was President, in fashion, Wall , like and :odore Roosevelt ind muckraking Street came in_for too much criticism. Attacks on Wall Street went to such an extreme that it hegan to shake public confidence and perhaps to give busines financial leaders a sense of infe 3 Unjust criticism contributed the psy- chological background to the panic of 1907. Swung Opposite V! the pendulum has opposite direction. part of the public tion of the economics of busi- enterpr 1 at_any time in the past. no longer a pop- ul ause of demagogic attack. “Trust busting” belongs to the pa The multitudes, recognizing the of large and efficiently managed busi- ness units, are in increasing numbers buying securities of 1 public u y and indus tions. The new economic sophistica- tion an ment of strength in the situation in i uously Now the swung far in There is on 4 re- duced. But Ameri; an captains of industry | bave not ot reached the plane of perfection where they are above criti- cism. Ignorant attacks, in legislative bodies or out, are almost wholly evil and unnecessarily disturbing. well informed constructive criticis of the Ripley type is necessary and desirable. The Harvard sage's expose of the abuses of non-voting stock, for example. quickly checked the move- ment and brought correctives. Glorifying Publicity. Corporate and bank executives have come to look upon the printed word as so_much publicity to glorify them. In_my opinion, independent critical jourffalism is a powerful weapon Which should be used more widely to check wrong tendencies and to espouse the broader public viewpoint. It should guard of the small in 3abbitt should not be above | criticism, The bullish difficulty is that you can he and wrong and get away with it, bu even if you are b sh and right you are perpetually challenged to, defend your pesition. No writer into a libel suit for bestowing praise on a mountebank ed in a place of power far beyond his capacitie Modes Street. 1 voung blond with oungest spec member Stock dodged ers_of the 2 vear photog and s stories. Incidentally, Mr. . who acquired his seat in it his membership at the st price quoted since the war, and shows a paper profit of about §$90,000. THE BUSINESS OF GETTIN AHEAD. Bonds as Investments. Until recently the financial world rally assumed that bonds were the best vehicles for long-term invest- onal view has been chal- s by the studies thers, which 1l diversified 1ist of it ot | esti s over a long period of | sive better results than de bonds is truth in this new o it may lead to unwis experts recognize the 1 s in bhandling nent funds. Unless the skill is sle and the fund is large eno provide for ample diversification, practical matter is 't safety in bonds tior av to like n shaves. 1o mere word “bond” assurance of safe bond may ultimatel~ go into The nch peasant, long over the world for his investmenr which have conspicuously unwise vielding Russtan rkish obligations, which went into id his purchase even of vernment rentes has as a the depreciation of the franc four-fifths of its real value. n is not in A low ult uded all made to yroved he on Stock Rises. commodity rrency less with on the other - less with the de. . Com In s of ris prices and depreciating common stock rises 1 he price lev suffer move Un! States at onted fairly therefor Eood b condi e pe an present with a stable rela hds un ns. Im haps move stocks, for, > disadv: or near tained. The long- finds it safer to pick at times of recession the summit of pros- con and a There_is in buving ting economic conditions 10 bonds t tandpoint ¢ ety the stocks her than at The elements which make well se- ks attractive ov y in a growing ited States, in common s especia ike the Ur the following habitually pay out in dividends less than is available in net earnings. The residue is returned to the business, and earnings thus pile clude 1. Directors expected (o exceed December’s volume by & substantial margia. up on the principle of comuound in Lerssl Lo Siiguuiii UM UGaL, and | r{ I cesstul corporations may ultimately be capitalized through a stock dividend. 2. Expert management, which is al- s fighting conditions, is on the of common stockholders, who or- dinarily control the business. Bonds Share Risks. 3. If panicky conditions come, with falling commodity prices, and the eco- nomic outlook favors bonds as com- pared with stocks, many corporations fail and became unable to meet their bond obligations. Such bonds share the risks of stocks, without sharing the opportunity to share in prosperit However, high-grade bonds may be elected In_which interest payments are assured even during periods of marked adversity. English economist, in discussing Mr. Smith's advocacy of common shares, said that Mr. Smith’s conclusions meant only “that diversi- s of common shares in the in country that is enjoy- ing exceptional growth and prosperity give them a margin of advantage over high-grade bonds. The beginner in investments should start out with safety, going first to the savings bank, the building an D association and the insurance company. Then he should reinforce himself with a backlog of high-grade bonds. At this stage he is in a posi tion to assume the risks of selecting good stocks, which deserve a place in a well diversified investment scheme. w EARNINGS SMALLER. NEW YORK, January 4 (@) .— Earnings of Continental Motors Cor- poration in the year ended October 31 were smaller than in the preced- ing vear, met profit of $2,026,327, equal to §1 share, contrasting with $2,811,323, or $1.60 a share INST NEW curtain program wh penditure of the steel in. indication pe | of the indu: pects. v der of the tomed ance o erns in accy | tmpa will improv fur and vices, pendents are of river tween points alor The Carne the lead of in and EXPANSION BEGUN Confidence Shown in Pros- pects in Plans to Spend BY Special Dispate rose was Youngstown make ements rranging Pittsburgh EEL INDUSTRY Millions. J. C. ROYLE. h to The Star ORK, today hich will Janu on an expar involve the f millions of dollars dustry. That is the ssible of what the 1 stry think of 1927 pros- | The roar of the rolls and the thun- | trip hammer ook on their | of far more | than the post-holiday re- | the certainty that | Pittsburgh, Steuben- | | notes, bu the and Wheeling dis important _changes | in operating de- | es and transportation | arrangements. Jones and La ghlin, leading inde- th Pittsburgh tensive program | harbor improvements be- and outhern } and Mississippi is “following | Co., pioneer he Ohio ie Steel the J. & Co. 1 in the use of the inland waterways for finished steel transportation. Spend Money on Wharves. Follansbee Bros., Wierton Steel Labelle and Wheeling Steel all will expend hugh sums on wharf improve- ments and chagnel work. This is of extreme significnee to the South and Southwest, which will be brought into sloser touch with Eastern markets an ever before. In the Youngstown territory Youngs- town Sheet and Tube will spénd ap- proximate )0 on improvements at the Western erve sheet mill plant at Warren, Ohio. New anneal ing and shearing capacity will be in stalled and it is the obvious intention compiny to make this pl producer of blue annealed ¥ . Byers Co. of Pittsburgh into operation a plant of the n Puddled Iron Co. at North Ohio, where it will experi ment ‘with a new process for turn ing out puddled iron mechanically. The Valley Mould Co. will erect a new plant at Hubbard, Ohio, which will b one of the I t and be equipped of type in Americ Youngstown Sheet and Tube will ab- sorb all the ingot mold output this plant, which will need 2,000 tons of struetural steel for its completion, The Your n concern will spend a balf million improving tho Hubbard furnaces and raising their capacity from 22,000 tons of iron a month to about 28,000 tons. Plans New Cole Plant. The company also announced plans for a new by-product coke plant ¢ South Chicago, which will $5,000,000. Carnegie Steel will make numerous improvements in its union ills Ohio works, where the will put Americ warr its cost nd T is it that you—the public—want? Is the present deluge of sex plays, which reflect life in all its sordidness, a true indication of your desire?. . .. Must a play, or a moving picture, be salacious in order to be successful?. ... Is the pro- ducer at fault?. ... Or is it the playwright, or the actor . . . . or can the blame rightly be laid at your doorstep? George Arliss,in hisunusual autobiography, “Up the Years from Bloomsbury,” now for the first By Lt.Com. BYRD, US.N, Retived Hero worship from the hero’s viewpoint. If you became overnight the center of the nation’s spotlight . . . if your every action was news,and front page news at that . . . if your personal privacy was suddenly pierced by pitiless publicity,how would you feel? . . . You will know how it feels to be a hero if you read this human article by the first man to fly over the North Pole . . . Lieutenant Commander Byrd, United States Navy, Retired. In the January issue of The Journal, now on sale, ten cents. 30 ADDITIONAL FEATURES IN the January issue of The Journal you will also find five delightful short stories and novels by such favor- ite authors as Booth Tarkington, Clarence Budington Kelland, and Dorothy Black. Then five fine articles—in- cluding Part II of Harry Emerson Fosdick’s “A Pil- grimage to Palestine.”” Fashions, Better Housekeeping, Needlework, Interior Decoration, Art Features, Poems, a page of Kewpies for the children, Editorial, etc., etc. nt its | t | .‘ NEW YORK, open-hearth furnaces will be en- larged. The United States Steel Co. is counted on to enlarge its operations, | especially in the Pittsburgh and | Chicago districts, in view of the ad- | ditional stock issued in the recemt | melon ecutting. | One leading steel executive attrib- | utes the stability of the steel busi- ness at present to the Federal Reserve system, which has tended to minimize fluctuations of the money market, with a corresponding legeling out of the curve of commodity prices. This ces it unneces for steel con- to buy in 1 anticipate needs 6 months | vance. This has reflected 1 the benefit of the producers. One of the few clouds on the steel horizon is the possibility of labor disputes in the bituminous coal fields, on which many plants are dependent for coke and coal. Results of the convention of the miners at Indianapolis late this month are iously awaited, GOOD SALES ABROAD. 4 (P).—The neral Motors ad- k to January [ wholesale value of ( cars sold overseas in 1926 approxi- | mated $100,000,000, more than 9 { cent of the corporation’s total busi | ness for the year. Exports in 18 $77,000,000 and $51,000,000 in FIFTY MILLION SPENT. | ATLANTA, January 4 (Spectal) — | ¥ millfon dollars was spent in a alone in actual hydro- electric power plant construction in 1926, according to Utilities Commission, | even greater activity whic for 19 { this Fall is 10 per cent e quantities or | per | the State Public | rat predicts | higher on the | Thlinois COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY BROOKINGS, . January 4.— | Winter wheat sown in South Dakota Jove o year th the total 103.000 & Win e sown is 70 per c t year with a total of 1 The condition of wheat per cent. JACKSONVILLE in Florida were not heavy enough to damage citrus fru sly, while growers believe the quaiity will be im proved. PORTLAND.—The canned salmon | market is steady with no faney chinook offered, and the few offerin of standard flats selling'at $3 a dozen. Demand is steady for pinks and me dium reds, TAMAQUA, been started on by the Hud impounded 2 which will be ern steel and which will tap Middleport. PLAN CASUALTY FIRM. ST. LOUIS, January he Associated Indu souri ar asualty insurance dle workmen's comp: ion insur- ance under the new State law. The employers are fighting which hout per cent than those of | res it over 0,000 is 86 ago W ter ry acre Pa.—Wor a_mammoth reservoir Co. This will llons of water, perate a me conc coal breaker a rich coal basin near has just 1 (Speci tries of N formation ympany to ha average {ing in Hu the proposed | ASK SALE APPROVAL. C., M. & St. P. Receivership Fight Nears Termination. CHICAGO, January 4 (®.—The legal controversy to conclude recetve: ship proceedings for the Chicago, M waukeo Paul Rallroad” was brought nearer termination here yes terday when counsel for the Guaran t Co. of New York filed with James H. Vilkerson in United rict Court a brief askin the terms of sale of t ultaneously with the filing of re the United States Su t. denie n appeal by Ed meson and other minor! 1 holders for o review of the case ind his petitioners claimed n §45,000,000 in bonds of the rail . 3 ADJUSTS CURRENCY. NEW YORK, January 4 (#),—Trad garian currency in the for change sterday v the pango which had $14.1 rity of the pans eign been dea per 1,000 he § fixed BONDS DEFAULTED. CHICAGO, January 4 (&) ago City and Connecting on the pay- 0,500,000 of s due January due wers nt of t ault had no ificance in the traction situation caused by expiration of the surface “lines franchises the last of this month, Railways nt met ~ompany Ia “The Dasling of The Goda™ Must the American Theatre Be Salacious to Live ? time drops the mask and shows us the man himself behind his diabolically clever charactenzatlons. Fitted above all others by his international experi- ence, he speaks authoritatively on a subject which concerns everyone. Don’t miss the opening installment of this in. timate recital of a life which is interwoven with stage celebrities of this and an earlier age. Begin- ning in the January issue of The Journal, now on sale, ten cents., By Larry Barretto To make him ask her. Particularly when she is very beautiful, and very, very rich, and when she wants someone—more than anything else in life. Jacinth didn’t know the answer, herself, at first. But at last she found out—and you’ll enjoy her solution as much as she did. In the January issue of The Journal, now on sale, ten cents. Send in your order NOW toin- sure starting your subscription with the January issue of THE JOURNAL. Use the coupon here- with. Otherwise you may miss the first installment of George Arliss’ autobiography and other splendid features. THE LADIES’ HOME JOURNAL 737 Independence Square Philadelphia, Pennsylvenia January. Name. Town, ____.._S‘hu \ n T encloseonedollar. Plessesend The Ladies” Home Journal for one year, beginning with S —— | This Hero Business What a Nice Girl Can Do 1 1 | | I | i i { | | | 1 i | JANUARY LADIES’ HOME JOURNAL . 1 theyear through any newsdealer o7 authorized agent, or by mail direct to 1}!3 LADIES’ HOME JOURNAL, Pluladclphta, Pennsylvania