Evening Star Newspaper, February 7, 1927, Page 12

12 EGGS ARE LOWER IN CENTER MARKET Hennery Stock Demand Not So Good—Easier Condition in Fowl Trade. * A slightly easier condition of the egg market was reported this morn- ing, 32 cents being the lowest price quoted for Hennery egg: of current receipts, and fresh selected are not bringing time, dealers repe At other seasons of cially when it fresh stock, i stoc i reater demand. say is no difficulty experienc geiting fresh eges at this season of | the year, and consumers are unwilling | to pay advanced prices for the hennery | stoc I condition of the ma morning. There w any kind of poultr and trading this morning as quiet as usual on Monda Wholesale Prices. 1-pound pri packed, 30 t receipts. usually prices far ahead the is difficult ted vear, espe to get r he hennery | ltry dealers reported an easier rket on fowls this no scarcity of dealers reported w about | sh nts, hen old tom fancy, h fowls, 28a30; 1d, 50; ducks, 28a30; chickens, 3 Meats- f, lamb, shoulders, 21a2! 3 hams, 28a30; smoked shoulders, 20. Live stock—Calves, choice, 14a15; medium, 11a13; thin, 7as; lambs, 13. Fruit and Vegetable Review. Today's market report on fruits and vegetables, complied by the Market News Service Bureau of Agri- cultural Economics s Apples—Supplies liberal; demand light, market steady; barrels, Penn- 1, inches ginia, up, ‘Washington, medium extra fancy Delicious, best, 3.7 extrs ncy Stayma : mostly around Winter ~Bananas, extra fancy Arkansas Blac 2.60; mostly 0. Cabbage—Supplies moderat mand moderate, market stead) stock, Florida, 13%-bushel hampers, pointed type, 1.25a1.50; few h mostly 150; Tes barrel c approximate 100-pound net, round type, 2.50a2 Louisiana, barrel crates, approximate 100-pound net, round type, 2.7, old stock, New York, sacked, per hundredweight, Danish type, 1.50. Supplies mand moderate, Californta, crates, around 5.00; Florid 21p 02 to large moderate marke 4.50a , 10-inch crates, | demand weaker; e, 4- liberal; slight Iceberg Supplies moderate, market California, crate: dozen, 3.00a3 -dozen, 3 Arizona, crates, Iceberg type, 5-dozen, 2.50; Florida, 1%-bushel hampers, big Boston type, wide range quality and condition, 2.00. Onions light: demand tight, market steady; Indiana and Michigan, 100-pound sacks, Yellows, U. 8. No. 1, large size, few sales, 3.50. Potato Market Steady. Potatoes—Supplies liberal moderate, market steady: 150-pound sack No. 1, 4.00a4.15; sacks, Green Mount 8.50a3.60. Spinach—Sup moderate, m bushel baskets, 1.00a1.15; mostly 1.00; South Carolina, cloth top, Bavoy type, poor condition, heated, wide range prices, 50a2.00. Sweet potatos upplies moderate @emand .moderate, market fairly steady; Georgia and North Carolina, cloth-top stave barrels, Yellows, 2.50a 2.75; South Carolina, bushel hampers, Yellows, 1.10al.25; Maryland, ghore, bushel hampers, Yellows, 1 String beans — Supplies very light; demand moderate, market dull; Flor- ida, 7%-bushel hampers, green, ordi- nary to fair quality and condition, 6.0028.00. Carrots—Supplies mode: moderate, market steady; Texas, bush- el baskets, 1.7522.00, mo y 2.00; Cali- fornia, no sales reported. Cauliflo Supplies moderate; de- mand light, market steadv: California, crates, 1. 0 BUTTER IS HIGHER. CHICAGO, February 7 () higher; receipts ery extras, 49%; firsts, 483,a49; onds, 44ad5%. lower; receipts, 14,996 cases; firsts, 32a32%; ordinary firsts, 31. demand Michigan, 120-pound ains, U. demand Texas, lies liberal e; demand EVERYMAN’S VESTMENTS BY GEORGE T. HUGHES. Dividends in Dollars and Cents. There are two ways of expressing the dividend rate on a stock, one in percen and one in dollars and cents second method is prob- ably the better. It would be very simple to state the r: in per cent provided all stocks were of $100 par value. In that event the per cent and the dollars per share are the same, that 6 per cent dividend on a $100 par stock {s $6. Confusion rises when we have stock of less than $100 par value, say $60 par or £10 or some other figure or even stocks of no par value at all. To {llustr nnsylvania Rail- road stoc $50 par value. The divider nnsylvania is 7 per hare. Amer- fean W Electric com mon stock is of nd the divi dend rate is 8 per cent, or $1.60 a year. P srvice Corporation o ersey has no par value, and so ze is not applicable in giv- ng the dividend rate, which 1s $2 a share. The only common basis then is dol fars and cents. Differences in par yalue also have to be taken into socount in making comparisons be- tween investment stocks. Take Penn- sylvania Railroad again and compare it with Southern Railway. The for- mer is of $50 par and the latter is of $100 par. In percentage the divi dend rate is the same, namely, 7 per cent. In dollars per share Pennsyl- vania_pays $3.50 and Southern Rail- way $7. Now look at the market price. A price of 58 for Pennsylvania is equivalent to 116 for Southern Rail way. At those quotations the yield on the two stocks is exactly the same. An advance of % point in Pennsyl- vania is equivalent to a gain of 1 point In Southern Railway, all because of the fact that the par value of Southern Railway is exactly twice that for Pennsylvania. I is « on 1 | product at ! such ¢ | houses in Wall street. MEN AND MONEY Rukeyser. fer of a New York brokerage tment banking firm to buy it d Motor for $1,000,000,000 recallsa conversation which the writer | had with the sage of Dearborn a little more than three yi I asked Henry Ford whether he was enter. . in.ac- trend in | a | Co. nsidering selling stock in I prise to the inv | cordance with the | that direction. “I should saj back, “stockholders To the question as to whether i any plans for retirement with an emphatic ne downward trend in les in the last from narrow are par: m diffe light on | ss philosophy, =l If I could not mak hot\m: a lower price, ther would s in busin Still in Dark. which this column is little - with the | ure plans of Henr s the of the country. M. is no Rabbitt. He plays a lone hand, avoid de associations, chambers of amerce, and Rotary clubs. Detroit idges Mr. Ford’s program by e a1 events, such the opening ol of plants, but usually | only of tran. be no fun be Detroit Detroit, in written, is osition of alers to divul, of which, as a mat- quite ignorant. o writes to a me * to hymend a trustworthy broker who can raise $50,000 for his ss through the sale of securitles. = brings up the question of the difficulty of financing a small enter- prise in this era of big business. Large and reputable investment banking houses do not find it profita- ble to handle small issues, not wishing to bring out a battery of machine guns to kill a mosquito. ‘Accordingly, the small business man, after being turned down by the standard hou: . is in danger of drift- ing into fly-by-night brokerage offices, which are glad to be able to use a reputable business name as camou- flage for their nefarious activities. Need Is Acute. The economic need for machinery for handling moderate sized long-term | industrial loans is acute. A few enter- prising small sized banking firms are beginning to enter this field. One of them makes its headquarters in De- troit. This firm will handle loans up- ward of $500,000, preferring them closer to $1,000,000. Even a $1,000,000 issue is considered small potatoes by the d investment banking minor be the employes and ¢ 1 inside story of fact A reads The gentleman in Chicago who wishes only $50,000 ought to seek to interest one or a small group of capi- talists either through advertising or through his own bank. Incidental the starting point in all financing should be your own commercial bank, which can give you valuable letters of introduction to investment bankers. Financial hou are impressed by edentials. Would Nullify Hedge Clause. A recent court decision in New York tends to make worthless the so-called “hedge clause,” by which investment | bankers mar their advertising. Such expressions as ‘““We believe the fore- going to be true, but do not guarantee it,” are of no significance in civil suits resulting from losses in cases where the bankers innocently gave erroneous information of a material character. As a matter of policy, several large underwriters in New York before the court decision voluntarily abandoned the hedge clause. The Prudence Co. goes a step further, and says “the ac- curacy of all the information con- tained in this circular is guaranteed.” A list of the securities in the estate of the late John G. Shedd, former airman of Marshall Field & Co., has been published. Mr. Shedd had the wisdom to invest the bulk of his for- tune in enterprises of which he had a st-hand knowledge. Many less astute men are attracted by the enchantment of distance. Things and persons in faraway places have an added lure. Frequently the best opportunities are at your door- step. TOBACCO RECEIPTS UP. BALTIMORE, February 7 (Special). Receipts of Maryland leaf tobacco last week showed a slight increase, to- taling 150 hogsheads, while. sales dropped to 85 hogsheads, leaving a stock in State tobacco warehouses of 1,605 hogsheads, and 690 hogsheads of ground leaves. Quotations today for Maryland leaf tobacco per 100 pounds: Interior and frosted, firm 3.00a8.0f sound common and ish, 9. good common, 15.00a24.00; medium, 25.00a34.00; good to fine red, 35.00a51.00; fancy, 52.00; seconds, common to medium, 6.00a 20.00; seconds, good to fine, 21.00a 40.00; upper country, air cured, 7.00a 35.00; ground leaves, nominal. GRAIN EXPORTS GAIN. BALTIMORE, February 7 (Special). —Grain exports last week, according to the Martime Exchange, totaled 952,609 bushels, against 507,678 bushels for the previous week. Of the ex- ports 886,999 bushels were wheat, 39, 6 bushels barley and 25974 bushels rye. One full cargo of 286,307 bushels of wheat, in the steamer Ferento, for Genoa, featured the exports. Flour the export of 12,530 bar- red with 7,557 barrels the The export of %,571 tons the largest weekly Copper was repre- 2 pounds. for many month: sented by 1,626,2 MEDIUM WOOLS ACTIVE. BOSTON, February 7 (Spleial).— The new week started in the wool market with medlum wools having the best call among territory grades, the demand coming mostly from worsted and knitting mills. Top makers are taking considerable quan- tities of French combing wools. Fleece wools are having somewhat better in- quiry, but foreign sorts are duller. Fine territories are in limited supply and are held for 1.10al1.12 for choice selections. Fine ¥ combing Wool Is quoted at 1.05a1.08, half bloods at 1.00a1.02, three-eighths blood at E 2 and quarter blood at 80a82, clean bas Ohio fleece wool or its squivalent is quoted at 45246, grease basis, for fine and medium grades, with quarter blood generally at 45. NEW YORK MARKETS. NEW YORK, February 7 (#).— Flour steady; Spring patents, 7.35a7.6 soft Winter straights, 6.35a6.65; hard Winter straights, 7.26a7.60. Rye bare- ly steady; No. 2 Western, 1.18% f. 0. b. New York, and 1.16% o. 1. f. export. Barley quiet; malting, 89%a 91% o. 1. f. New York. Pork quiet; family, 89.50241.50. Lard Middle West, 12.80a12.90. Tal low quiet; special loose, 7% extra, 7 Wheat futures opened barely stead domestic, May, 1:45. SEE DIViDEND BOOST. 4 rumors abound | 1e: THE EVENING STAR, WASHINGTON, D. C., OUTPUT WATCHED INCLEVELAND AREA [Cost Cutting to Meet Com- petition Main Congern at Big Factories. BY J. C. ROYLE. I Dispatch to The i VELAND, Februz ns of this Ke: Spec CL il con y Indus- stone district with the beautiful accuracy of an air in squadron formatio: keeping output just far ahead of consumption so that vill neither be run down nor r markets behind them. Con sequently they are in a position to take full advantage of the business improvement which excellent judges say will come inside the next month Since this territory has a most di- versified line of industries, some have to move faster than others to keep ahead of sales. The paint manufac- turers—and producers of nearly 50 per cent of the paint output of the country have headquarters here—are moving at top speed and anticipate a remarkable year, according to execu- tives. The slump in automobile man- ufacture which took place earlier did | not weaken their position, since they anticipated losses there would be made up in materials for house painting and refurbishing and in the increased | demand for lacquer enamels. | Auto Parts Trade Better. Specifications to the auto parts makers have shown decided improve- ment in the last fortnight. Acces sory men are planning for a year al- most equal to 1926, Millions of dol- worth of work on_the railroad terminals, the new produce market, new office buildings partly completed and on pavements and roads remains to be done in 1927 even if new bulld- ing should suffer a check, which is by no means certain or likely. This territory is located close not only to the center of population of the country, but to the center of pro- duction, the center of consumption and the center of markets. It is therefore a nerve center of business, responsive to impulses given from widely different _directions. Conse- quently the opinion on the prospect for the year all over the country, as ressed today by A. Rodges president of the White Sewing Ma- chine Co., is deserving of strict atten- tion “We rry 120,000 open installment accounts from Portland, Me.. to San Diego, Calif, and from Miami to attle,” he said. “We will not dis- count a cent of this paper. We will ry it, and it amounts to over $7,000,000, ourselvy We have ready increased output and we antici- ate doing a business which will show s remarkable an advance over 1926 as the latter year did over 1925. have just returned from a trip to the Pacific Coast and found things going splendidly throughout that, sec and the intermountain country well as in the Midwest and East. Supplies Mail Order House. The White Co., not only receives constant reports from its own dealers and agents, but supplies one of the mail_order houses with ma- s the reflection of their The majority of the indusirial plants in this territory, especially the steel nd automobile concerns and the tex- tile and clothing companies, have one lesson down so pat they can repeat it backwards. That is that with com- petition what it is and the trend of buying as it stands, profits this year must be made inside the plant instead of outside it. They are cutting costs, not raising prices, and they do not hesitate to scrap equipment of execu- tives either if replacements are neces- sar He ibre Co. installed a new e e is an example. The Industrial maker of rayon, has just ecutive head. He s Hiram Rivitz. Mr. Rivitz never has made rayon. His success has come in the manufacture of plumbing supplies. But he was known as a atchdog” on costs, and he was put are regulating production to demand | MONDAY, FEBRUARY - 7, 1927. Fisher’s Price Index the average (1) of_the sentative. com and (2) of Purchasing power of the dol- ar in pre- Wholesale | modst the ¢ power of the dol Index No. of Drices in per cent of pre- war ba (peak) 2 (low) ... 5 Averago ... First quarte Second quarter. Third auarter. .. ourth quarter. . 1926 o Second_quarter Third _quarter Fourth October nber nber aniary— aquarter Woek average.. 69.0 68.7 69.4 Foreign Weekly Index. Crump’s (London Financial Times) index number Dland Tndex No. of pricecin per cont Date T 1015101 4 Average Averagn First: auarter- Fourth 1926 Average First . auarter. November December week. woek weel week. | .7, verage nd Third Fourth January February First week 3 - (Cobyright, 1027) WESTERN MARYLAND BELIEVED IN NEW HANDS Special Dispatch to The Star. BALTIMORE, February 7.—That control of the Western Maryland Railway has passed to new interests is the belief of well informed persons in the financial district. It is stated definitely that the deal for the Rockefeller holdings of first preferred stock was closed last week and that announcement to such effect will be made within a few days. The four major Eastern systems— the Baltimore and Ohio, the Pennsyl- vania, the New York Central and the Van Sweringen—are mentioned as the probable buyers, although there is a strong suspicion that the Western Maryland has been acquired in the in- terest of the Loree proposed new trunk line. Wheeling and Lake Erie, it is said, has been secured by the same interests. Included in the proposition ac- credited to Mr. Loree are the West- ern Maryland and the Washington and Old Dominion. These two. prop- ies do not connect, but use of the hington, Baltimore and Annap- olis Electric Railway between Balti- more and the National Capital would fill the gap. | The 1 | through the Union Trust Co. of Pitts- SHORTS IN WHEELING ‘ GIVE BIG PREMIUMS $5.00 a Share a Day Offered—Ex- || change Further Investigating Transactions in Road’s Shares. By the Associated Press. | NEW YORK, February 7.—Bor| rowers of the common stock of thn; Wheeling and Lake FErie RR”I’T)R{]' | who were recently caught “short” in | Gentlemen may prefe m\lfl“&\c\cssl,oth {a technical corner developing in (hat: issue today were offering a premfum | >t $5.00 a share a day for the loan of that stock to make delivery agalnst | the Ni rork Stock || <change called for additional infor- | T rding current trans: including the names of bor: nd lenders of the stock unw‘.i ate long and short posi-| ms and customers at 11 a.m. | . and directors of the road | Meanwhile, E mation tions rowe issuance of additional common stock, | into which the prior lien and pre- ferred stocks could be converted, as provided for in the articles of incor tion. BIG ISSUE OFFERED. Aluminum Company of America || Bonds Out Today. I February Co. of T ) PITTSBURGH, America, Aluminum syndicate of New York banks, offered an issue of $60,- 000,000 5 per cent sinking fund de. benture gold bonds at 100 and accrued interest, free of the Pennsylvania State tax of 4 mills. Proceeds of the bond issue will be applied to redemption of the com- pany’s outstanding funded debt and completion of an extensive buflding program, in which the company is now engaged. The building program, which is ex- pected to be finished by 1928, includes construction of dams and hydroelec- tric plants at Santeetlah and Baden, N. C., and an aluminum smelting plant, ore plant and town at Arvida, Quebec, POTATO CHICAGO, burgh & MARKET WEAK. February 7 (#).—Pota- 124 cars; on track, total States shipments Saturday, 6 and trading dull; Wiscon: 1.90a2.10; mc 1.75a1.90; Idaho mostly 2.75. cked round whites, partly graded, $0; s g it GULF, MOBILE & NORTHERN. NEW YORK, February 7 (@. Merger possibilities and larger reve- ues from various traffic arrangements are associated in Wall Street with the recent advance in the shares of || Gulf, Mobile and Northern. Large purchases of the stock are attributed || to several traders who recently have An even disposition is the best pilot on the sea of life. WA \ § in his present job to “stop the leaks,” and that is not confined to a jocular sense, either. YA VA VAN YA A nal wash. XXXX- 277 kidneys. Hence, only a tract. tent of the blood. As NEW YORK, February 7 (P).— Gossip of possible increased dividends in which various railroads recently have been mentioned has spread to the Bouthern Pacifio. Some financial quarters anticlpate a $7 annual Fate in the near future. ‘What is the greatest of all cleansing agents? The answer is: WATER. You use water for washing externally. You should use it, too, for the inter- Common drinking water would make an excellent laxative, but for one thing. It is quickly ab- sorbed, and excreted by the portion enters the intestinal Pluto Water acts just the other way. That is the reason for its pronounced laxative value. Science knows that the mineral con- tent of Pluto exceeds the mineral con- ‘Water is not absorbed but passes through the eliminative system prac- \\\ : ey . constipation — that is the scientific way to internal cleanliness that's before it. thorough, giving to two hours. That, too, is why Pluto never gripes. The action is natural,gen- tle and harmless. Pluto does not cause habit-forming ten- dencies, nor will it weaken the system. ‘When you need a laxative, remember that the medical profession for almost a gen- eration has recommended Pluto Water in pteference to the arti- ficial “drug” type of cathartics. Ask your druggist for Pluto, and you will always play safe. Bottled at the springs, French Lick, small a result, Pluto Indiana. When Nature won’t, PLUTO will LUT tically intact, flushing and cleaning all That's why Pluto is so positive and been buying shares of the Wabash y Railway. f results in 30 minutes WATER America’s Physic L) des & Brunettes PIGGLY prefer When Anita Loos wrote “Gentlemen Prefer Blondes,” she caused a hurricane of laughter to sweep over the nation . . . popularity came where it was deserved. It’s always the same, whether it’s in books, motion pictures, automo- biles, food stores or what not. Take PIGGLY WIGGLY, for instance. Thousands upon thousands of folks travel the turnstile route every day . . . picking what they want . . . and praising the system that makes this possible . . . PIGGLY WIGGLY is popular ... extremely popular... because they are recognized as the most practical and eco- nomical food stores in all the world. NEXT SATURDAY WE WILL OPEN A MEAT | MARKET IN OUR STORE LOCATED AT: 2422 14th St. N.W. LIBBY’S EVAPORATED MILK “The Milk That Good Cooks Use” Small Can 5(: Tall Can IOc | EVAPORATED FRUITS | DRY CEREALS A New Shipment Just Arrived b. 7 Sunsweet Prunes. . .. .11b., 15¢ srka O ...Ib, 7c Sunsweet Prunes. . . .2 Ibs., 27¢ Goldenripe Prunes.”. .2 lbs., 35¢ | Lima Beans ..........Ib., 11c .Blue Rose Rice.......Ib., 8¢ Ensign Prunes. . . . . .2 Ibs., 25¢ Choice Apricots. . . .....lb., 29¢ | yejlow S S P - . phips 126 Green Split Peas. . . . .pkg., 12¢ Choice Peaches . ......Ib., 23c SUNSHINE SPECIALS Standard Peaches . .. ..lb., 19¢ Cheese Niblets—Lemon Snaps DEL MONTE PRUNES and Yum Yums 50-60 Size ...........Ib,11c 30-40 Size ...........Ib, 17c 2 Packages, 9¢c LADY ALICE COFFEE 1. 36¢ FLORIDA ORANGES Dozen, 35¢ CALIF. ORANGES Dozen, 55¢ GRAPEFRUIT Each, 10c 37c 58¢c 16¢ Navy Beans....... Black Eye Peas. ... . ICEBERG LETTUCE Head, 10c SWEET POTATOES 51bs., 21c LARGE CELERY Stalk, 12¢ FRESH EGGS In Cartons DOZ. SUNSET GOLD BUTTER Ls. URE LARD In Cartons LB. PORK CHOPS Center Cuts LB.35¢ SIRLOIN STEAK LB. 45¢ If You Like High-Grade Nut Oleo, Try a Pound of ARMOUR’S NUTOLA ~ 1B. 23c POTATOES Best U. S. No. 1 Stock 51bs., 17c 101bs., 33¢