Evening Star Newspaper, February 9, 1927, Page 13

PRICES UNCHANGED INCENTER MARKET Some Supplies, t Young Chickens, Scarcer. E Hauling Now Easy. Continued open weather makes handling of foodstuffs in the local market much easier than during blizzard weather that is experienced from time to time at thi the year. Haulers from nearby Maryland and Virginia have ex- perience very little difficulty reaching this city with their supplies of food- stuffs during the present Winter season. There 1s a scarcity of some supplies, however, and delays would not mean much to the average hauler. Receipts of poultry, especially young chickens, are small, dealers report, chants are depending largely frozen poultry for the trade Poultry prices have little the past few davs aiso have changed little, of most commodities th were substantially the same reported yesterday. and as thos Today T’\ tter. Wholesale Prices. 1-pound print, packed, n, selected, current receipts 28a30; Meat Jamb, ders, 2 2830 Live medium Fruit smoked shoulders, stock—Calves 11a13; thin, and Vegetable Review. Today's and ve; Market Agricult Applr, hgm report on fruits mpiled by the Bureau of says ; demand rels, Mar: Stajy few market 3,00, Delicious best, extra fancy. mostly around ter bananas, Arkansas b 2.50. Cabbage—Supplies mand moderate, stock, Florida, pointed type, 1.25a1.40 as 1.00; Texas, no early stock, New York, sacked, dredweight, S Celery moderate, moderate; et steady; pushel de- new hampers, poorer low sales; old per hun- 1.40a1.50. rate; demand dull; California, lorid: 10-inch : few 10-dozen low as Lettuce—Sup moderate, crates, I. few high as her: type, 0. es liberal; demand ket steady; Californi: pe, 4-dozen, 3.00a3.2: Arizona, crates, Ice- 5-dozen, ordinary quality, nions — Supplies lght, market stead; Michigan, 100-pound No. 1, large size, few sales, 3.50; Ohlo, 100-pound sacks, Yellows, U. :lgs 1, medium to very small size, 3.00a light: demand Indiana and Yellows, U. Potato Market Steady. Potatoes—Supplies liberal; demand moderate, market steady; Michig: 150-pound sacks, Russet Rura's, U. No. 1, 4.00a4.15; Mainue, 120-pound sacks, Green ‘\lounmm«. U. 8. No. 1, 3.50a3.60: w York, pound eacks, 3 ‘l'\'\ol"lmadoo Spinach—Supplies liberal; demand light, market fairly steady; Texa bushel baskets, Savoy type, .90a1.00; mostly 1.00; South Carolina r to ordinary _condition, mostly 1.75. Cauliflower—Supplies light; demand moderate, market firm; California, crates, mostly 2.00; few higher. Carrots—Supplies moderate; demand moderate, market eady; Texas, bushel 2.00; California, let- oes—Supplies light; demand moderate, market firm for good stock; Florida. 6s, ripes and turning, wrapped, fancy count, 5.00a5.50; choice count, 8.50a4.00; 216s and crooks, 2.70. — CAR LOADINGS GAIN. Freight loadings for the week end- Ing January 29 totaled 950,969 cars, an_ increase of 8,382 over the pre- ceding week, the American Railwa Notably| season of |, ' | Commerce, MEN AND MONEY By M. S. Rukeyser. (Copyright. 1927.) Numerous individuals have volun- teered to act as coroner for the auto- I motive industry. s The skeptics are ever ready to interpret each short-term recession a the beginning of the end of the aut mobile industry. There has been a recurrence of that feeling during the slowdown of the latest three months, although it should be observed that there is greater recognition of the fundamental utility of the automobile industry than there was a few yea: ons in the motor industry are onal just before the close of the old year and the opening of the new. 27, the recession has 1 somewhat longer than in recent in the industry have felt the full shock of the quieter demand, be use of the current policy of manu- to attune their production When demand mmhu()un |1Il~ off, and unem ment is one of the results. Fewer Are Employed. According to the Detroit Board of there are 50,000 fewer em ployed now than in the corresponding week a vear ago, but the current rend is upward. fLast month there were more than $100,000 out of work Detroit workers flgure on easonal shutdowns, and the majority of them seem to prepare financially for such tempe cessations of rning pow And yet the demand for new merchandise naturally falls off with temporary industrial slumps. The curve of production in the auto mobile industry has already begun to move upward, It is reflected in the employment figures, and also in sta tistics of car loadings. . G. Wilmer, president of Dodge Broth Inc., told me that he sec igns t the consumer demand automobiles is picking up again, s he anticipates further gains with the advent of Spring and the opening up of are The Dodge said, Is producing be tween 800 and 900 cars a day, which of 50 per cent of peak capacit 1 asked Mr. Wilmer about forthcoming new Dodge s which was cryptically announced at the au- tomobile shows. Will Be Ready Earlier. “We said,” Mr. Wilmer volunteered, “that the new model would be ready by July 1. We shall probably have it ready before that time. We have not vet definitely decided on the pr “We do not expect to produce the new model in large quantities at first. In the first year we shall probably produce about 30,000 of the new car, which represents about 10 per cent of the number of Dodge fours sold dur- ing 1 The new car will involve no pioneering, but will be built on principles which have long demon- strated their worth.” Asked concerning his expectations for 1927, Mr. Wilmer said: “I think it will bo a good year, though after the tremendous two years the industry has just had the volume may not be quite as large. 1 look for increased competition. 1 think the continuance of easy money is distinctly favorable for the general business situation.” Mr. Wilmer took over executive di rection of the Dodge enterprise last year after the Dodge widows sold out to Dillon, Read & Co. Mr. Wilmer, in association with Clarence Dillon, had already proved his capacity in the re organization of the Goodyear Tire and Rubber Co., which the Dillon bank- ing firm financed and reconstructed after the setback it experienced in 1920 and 1921, Incidentaily, the work ot the Dillon group is now being chal- lenged in the courts by minority stockholders favorable to the Seiber- ling interests, which were ousted from active management by the Dillon firm. Was in Steel Industry. i Before Mr. Wilmer undertook the direction of the Goodyear concern, his business experience was primarily in the steel industry. He had met Clarence Dillon at Milwaukee in 1910 just after leaving school at a time incidentally when Mr. Dillon was just beginning to get established in Wall Street as a junior executive to the late William A. Read in the firm which bore his name, but which has since been changed to Dillon, Read & Co. Just as Mr. Dillon's rise in Wall Street has been meteoric, Mr. Wilmer has emerged as a new industrial leader. He is young in age and in manner, tall and with sharp features. He has light brown hair, and vivacious blue eyves. He is analytical and studious. Mr. Wilmer shares the managment of the company with F. J. Haynes, former president, who last year be: came chairman of the board of di- rectors. Mr. Haynes at the beginning of the century met the late John Dodge in a bicycle factory in Canada in which the former was superinten- dent and the latter general manager. the Association reports, The figures represent an increase of over the corresponding period last year. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Relation of Earnings to Prices. About this time of year corporations are publishings their annual reports. The part that is of greatest interest to the stockholder and to the specu- lator 1s the showing in r ard to earn- ings. As these reports are published ¢ to compute these earn- ings in terms of dollars and cents per share of stock. Reduced to this form it is possible to form some idea as to how far the market price of the stock 1 ain authorities v standards, adopt arbi- ¥ assuming that a stock should not sell for more than a certain number of times the earnings share. With railroad stocks 10 times earnings is somctimes rega fair measure, t XYZ railroad in a year, a market price of 1 not be out of the wi such relation obtains throughout the list, railway or industrial, but the use of a measuri sle of this kind enables comparisons to be made of one stock with For earning price is comparison v XYZ road at nine tir ABC railroad is k for 139% i per share of tter of fact when mount up as high used as illustr v do not com- s 10 times earn- son can be made number of times the only share wres here stocks gene ice as high tions the mand a p) with praisals is that so 1 other tors enter into the making of a market price. A great deal depends upon how generous the directors have shown themselves in disbursing profits to stockholder Still more important is the outlook for the future, the market judgment as to whether earnings next year will be greater or less than those of the year just past. It is helpful to set one stock alongside of another, provided the two corporations are en. gaged in the same line of trade, and 11 any these ap- Since the death of the Dodge brothers, Mr. Haynes has been chief executive, having played a principal role in turn: ing a machine shop into a giant enter- prise which was sold to Wall Street bankers for $146,000,000. THE BUSINESS OF GETTING AHEAD. Courtesy as Business Asset. England has been cynically charac- terized as a nation of shopkeepe: The English have the wise sho keeper’s quality of curtesy. They have developed the trait more than any other people in the world. In going from the continent to England recently, I was impressed with the national differences in re- spect to this quality, which acts as a lubricant in hu 1 contacts. I dis- <ussed the trait with Hartley Withe the noted British economist, who agreed with me that the British amenities were a business asset, and did not slow up production. ‘When Mr. Withers toured in this country he brought over the Knglish habit of saying “Good morning” to strange shopkeepers. He discovered that Americans thought him rather ¢ | queer. Might Emulate British. Storekeepers in this country might well emulate the British courtesy to customers, Every customer is more than a stranger to the store to which he offers his patronage, and should be greeted with a pleasantry. The small shopkeeper in this country is frequently remiss in welcoming the tranger, reserving his kindliness ex- clusively for regular customers. Such a policy does not build business. Big and well managed institutions are becoming consclous of the value of courtesy. The Brooklyn Edison Company insists that employes say “Good morning” to_visitors to the main office. Several of the large de- partment stores have recently in- structed their telephone operators to answer calls as follows: “Good morn- ing, Blank & Company.” A chain of , which specializes in pleasing customers, instructs room clerks to address the guest by name, saying after he has registered, “Front, take Mr. Blank to room 602. These minor human touches seem insignificant, but they are symptom- atic of an attitude of friendship and help enormously to create good will, which is at the bottom of all success. ful business relationships, The vast majority of business lead- ers recognize the value of courtesy, compare market prices on the basis of the number of times the quotation Is of earnings per share. and not only preach the doctrine, but practice it. Individuals of lesser men- tal stature, however, apparently take THE EVENING STAR, WASHINGTON, SENTIMENT BETTER INAUTOTIRE TRADE {Prices Show No Signs of Weakening—Rubber Sup- ply Position Good. BY J. C. ROYLI Special Dispatch to The Star. AKRON, Ohio, Februa tire plants of the Akron d working at between 80 and 90 per cent of capacity today. That means ire turning out around 116,000 daily. Pratically all the work employed. That statement is ed not only on production figures f the plants themselves, for some do not make public their output, but on the power curve of the Northern Ohio Power and Light Co., which has all but one or two of the producers as customers E. G. Mangold of the power produc- tion department of the company said toda es of current indicated that tire production was approximately 8 acity. He forecast, that power usage in March would il or exceed that of any month in 1926 except October. Sentiment Is Improved. Opinion here seems to be timent imp; st two week among men in the industry unanimous that sen- pved radically in the ctors contributing ) this feeling have been the better pro for production of automobile units, with consequent original equip ment orders, and the ability and will- ingness of the public all over the nited States to buy replacements, This latter trend has been aided by the fact that tire users who patched and “‘made tires do” during the uncer tain markets of the past year are now under actual necessity of new equip ment. Also those who bought cheap tires have found that the latter were “loaded” with reclaimed rubber to such an extent that they did not give service and must be replaced. The buyers of cheap tires are returning to the producers who have maintained quality. Thg latter realize that a lost reputation is the hardest thing in the world to regain. Rubber dealers here that the tread of some of the » tires could almost be peeled off with a thumb nail. Finally, the trade is now confident that no further cut of prices is in prospect and that the public is bound to realize that wait ing will afford no advantage. Price Cut Unlikely. There is no price cut in 1 but the producers still find many cloud to dim the rosy outlook. They made a lot of tires in 1926, but they ®id not make a lot of money. Compe tition was flerce. Automobile makers were in a commanding position when it came to buying original equipment and many contracts afforded only the barest margin of profit. If it was the intention of some companies to drive the “little fellows” ‘out the move was not successful. One crude rubber man, business with big and small alike, de- clared today there always would be a place for the smaller manufacturer provided he were well financed. None the less, it is impossible for some of the small companies to buy raw ma- terials except when the order has un- questioned financial guarantee. It is apparent that higher profits must come from inside the plants rather than from the public unless are radically advanced. The policy alwavs carries with it the danger of rousing a determined buyer opposition. Many Favorable Factors. Yet there are many favorable factors. Crude rubber is fairly low and the price Is comparatively stable and promises to remain so. Cotton is low and so are prices of fabric which goes into tires. A majority of the tire- makers are building additions which will greatly increase capacity and permit larger quantity production with corresponding decreases in cost. Individual efficiency among workers is rising and demand promises to be active. In the meantime Akron is reaping the benefit of large employment, big pay rolls and high buying power. But cheaper prices are not regarded as either possible or probable. Although most of the high-cost rubber which hampered profits in 1936 has been worked off, some upfortunates still have that factor to contend with. WILL ELE(,'I'BJFY LINE. NEW YORK, February 9 (#)—The Paulista Railway in Brazil, first road in that country to replace steam loco- motives with electrics, plans comple- tion this year of the electrification from Rio Claro to Rincao, the end of the broad gauge line, the General Electric Co. is advised. This exten- sion of 152 kilometers will bring the total of the electrified line to 286 kilometers, or 177 miles. EXTRA IS DECLA.RED NEW YORK, February 9 (#).— Directors of the United Fruit Co., de- clared an extra dividend of $1.50 a share in addition to the regular auarterly payment of 31 a share. INCOME IS LARGEE NEW YORK, February 9 (#)— Mountain States Telephone and Tele- graph Co. reports net income of $4,- 183,194 for 1926, equal to $10.88 a share, against $3,749,294 in 19 $9.75 a share. POULTRY MARKET FIRM. CHICAGO, February 9 (#).—Poul- try, alive, firm; receipts, 2 cars; fowls, 27; springs, 28; turkeys, 30; roosters, 20; ducks, 20a32; geese, 23. S NEISNER BROS. PROFITS. NEW YORK, February 9 (#).—Rec- ord-breaking sales and net profits for 1926 are reported by Neisner Brothers, Inc, Sales jumped to $4,497,208 from $2,605,697 and net profits ' $292,618, against $218,035, equal to $2.97 a share on the common after preferred divi- dends. — 08P who does pleasure in strangers. The prevalence of courtesies varies not only as between countries, but also in various cities. Busy New York is frequetnly an offender in the matter of courtesy. New England, nearby, is far more courteous. Cali- fornia, with its eve on boosting as a fine art, cultivates the policy of cour- tesy and friendship. The South is tra- ditionally courteous. In continental FEurope, Germany makes the greatest attempt to practice the outward forms of courtesy. Even the traffic signs reflect the national trait, saying, “Slowly, please,” instead of “Go slo ‘When the average American gets at a steering wheel he is likely to be a little less courteous than otherwise. The manners of motorists are fre- quently unlovely. In general, the individual who is not courteous in his business relation- ships is unnecessarily setting up a bar to his promotion. The corporation which fails to encourage courtesy among employes is putting up barriers being discourteous to to its own prosperity. (Copyright. 1927, by Current News Features, Incorporated.) SUGAR CARGOES GAIN. Government Barge Lines Handle 1,000 Carloads Per Month. Sugar cargoes handled by the Gov- ernment barge lines on the Mississippi and Warrior Rivers averaged 1,000 carloads per month during 1926, the affic being consigned to points in 20 States, The total movement for the year was 351,043 tons, at an estimated saving over rail freight rates of $610,- 8. comparing statistics on the D. ©, WEDNESDAY, FEBRUARY 9, 1927. 13 sugar movement Brig. Gen. Ashburn, executive of the Inland Waterways Corporation, pointed out that there ad been a rapld increase in sugar cargoes from 1923 on, the total handled that year being 131,262 tons. NEW YORK MARKETS. NEW YORK, February 9 (#).—Ry firm; No. 2 Western, 1.18 f. 0. b. New York and 1.16%, c. i. f. export. Lard, easier; Middle West, 1 5a212.95. ‘Wheat futures opened barely steady; domestic May, 1.44%. Other articles unchanged. OBSTACLE IS SEEN. Ordinance May Block B. & 0. Con- trol of Western Maryland. Spectal Dispatch to The Star. BALTIMORE, February 9.—A legal obstacle may block control of the Western Maryland, obtained in a coup by the Baltimore and Ohio with the New York Cen and Nickel Plate. This obstacle is a city ordinance, passed in 1908, ify the sale of the city’s Western Maryland stock to the Fuller Syndicate. it reads: SN U T RSN R TN RN S N SRR A A R A A e S S A A A R AR A o] 0 lease, sale or consolidatio lhe sald Western Maryland' Rail Co. shall be made direct] to or with any other com pany now controlling, owning or « erating any line or lines or sys of lines centering, terminating or erating in the citles of Baltimore or | Philadelphia.” DISCOUNT RATE CUT. BRUSSELS, Belgium, Febrt ().—The Belglun Naticnal Rank day lowered its discount rate from 6 to 6 per cent. to COCA COLA INCOME. NEW YORK. February 9 (®) income of the Coca | Corporation THRIVING COMMUNITY needs more of the inti- mate association between its business men and business. ' || FEDERAL-AMERICAN Is a Real Meeting Place Quality and Service First—Then Lowest Prices! Men! Youwll Want to Take Advantage of This 8 for 25¢ You 50.. men who like a mild domestic smoke will thoroughly enjoy these cigars. Step up to any one of our cigar counters and purchase eight “Hunter’ After Cigars for 25c. you have smoked them we feel sure that you will come back and purchase a box of 50 for only $1.49. they are just that good. $1.00 Pineoleum $1.00 Oxycristine. . $1.15 Dare’s Mentha Pepsin $1.25 Veracolate Tablets, plain 30c Hill’s Cascara Quinine ....... $1.10 Father John's Medicine 60c Bromo 35¢ Gets It $1.00 Peoples Iron, Quinine and St:Jnhmna 50c Graham’s Milk of Magnesia 50c Noxzema Cream . 75c Analgan.que Milk 50c Caldwell's Syrup of Pepsin 60c Swamp Root . 60c Cah[orma 5yrup $1.50 Allenrhu 75¢ Dextri- $1.00 Musoldent $1.25 Digafolin Tablets 50c Listerine .. 30c Vick's 35¢ Nozol . 35¢ Carbono . 50c Lysol .. 25¢ Cascarets . 60c Pape's $1.00 Zonite Really, men, “ALL OVER TOWN” ~—The Better to Serve You Splendid Quality Bath To wels, 3 for $1 The VALENTINE Greeting That Will Please “Her’ An excellent opportunity to <tud\ up with choice-quality Tur! ish Bath Towels at an exceptionally low price. pretty color combinations from which to choose. Here’s a Good Value! 8-Cup Size Aluminum Percolators Special, 79c A beautifully finished seaml Percolator with non-heating blac Attractive panel design. Lion Many }_3 EOPLE 'S sao 57asrS WASHING TOV, D C. “Brand Soap Large Bar, 2 9(,‘ A large bar of soap that affords about nine ess Aluminum e wasE Handle and soothing the shampoo At All PEOPLES DRUG STORES Cardinal Linen Stationery only 39¢ A beautiful white linen-finish Stationery which is heartily approved by the most critical. 24 double sheets of paper and 24 envelopes to match in an attractive box. At All PEOPLES DRUG Anne Lotion 35¢ & 65¢ Never subject your hands to the cold, biting winds without first using Queen-Anne Lotion. It keeps the skin soft and smooth as velvet and relieves the severest chapped, irritated conditions of the face and hands. It is sticky and will not soil gloves. lightful for after shaving. At All PEOPLES DRUG Hall’s Cherry Expectorant 35¢, 60c and $1 Now is the time to break up that stubborn, hacking cough and cold. Don't let it run on and on when this wonderful remedy brings such pleasant and effective relief. It contains valuable ingredients that heal and soothe the irritated bronchial tract. May be given to children with absolute safety. At All PEOPLES DRUG STORES TS ST T TTT DT E AR T IR A AR S A A R A A A R R A N S A A N R L N L T T Men find it de- alarm. STORES ueen not greasy or STORES $1.50 Value Clinical Fever Thermometers Special, 98¢ Emernnclu nflen arise in the home that require the use a thermometer—have ou one? These thermnmewu are ll‘lfl &l large nhmherl 0 there may be n readi ed I\Vak attractive bll(k h rubber cases an WC ev. (‘ BIDI e Tully. te " resister & perature . £ generous sized cakes when cut. It is healing to the skin and is unexcelled for and nursery use. J $1.50 “America Alarm Clocks Now,* 1,29 9 A beautifully nickel-plated, fully guar- anteed Clock with an effective top-bell At All PEOPLES DRUG STORES Remember “Clean Teeth Never Decay” Orthodentic Toothbrushes only 35¢ A splendid quality toothbrush containing three rows of specially selected sterilized bristles, set in pretty transparent handie. At All PEOPLES DRUG STORES Most! Delicious Chocolate and Bon Bons —in pretty heat-shaped boxes A most delightful variety of fine chocolates with u'v\]v(m).' centers of nuts er with y bonbor 1l heart-shaped cone 19¢ to 1 1b., 49¢ 1 1b., 85¢ $1.39 $2 $3.49 Larger Boxes. Deep Cut Prices ¢ Toilet Articles 19¢ 43¢ 29¢ 23¢ 23¢ 42¢ 25¢ Lyon's Tooth Powder 50c Jergen's Lotion 0c Palmolive Shampoo Frostilla .. 35¢ Pond's (uld & Vanishing 50c Glo-Co Hair Dressing ... 35¢ Willioms' Cream 60c Cutex Manicure Shav ing 50c Wildroot Hair 65¢ Barbasol 50c Mavis ‘alcum 50¢ Java Rice Face Powder 50c Pepsodent Tooth Paste $1.00 Asurea Face Powder . 25c R & € !’nmuda Lipstick «........ 50¢ Glazo l..,md Nail Polish . 35¢ Dame ] Liquid Cream .. 60c Pompeian Massage Cream . i Genuine lwy $1.00 Blondex Shampoo $1.00 Danderine Baby Needs 35¢ Rubber Baby Pants 60c Merk’s Milkc Sugar .....49¢ $1 Horlick’s Malted Milk Bottle Brushes Nursing Bottle. .. Fine Combs.. Bath Sponges Lime Water, pint, 15¢ Hygeia Bottles.. Anti-Colic Nipples . 75¢ Mellen’s Food . 75¢ Dextri- Net j ] P ; 3 H b 4 : § / g 4 % 3 : g | é 4 4 4 H kA : 3 g | ? % ’ ’ ’ % g % ’ g % / ke