Evening Star Newspaper, March 7, 1927, Page 12

¢ TRADINGIS SLOW - INCENTER MARKET Some Dealers Foresee Cut in Egg Prices—Receipts Today Small. There was the usual Monday morn- ing inactivity reported by wholesale dealers today. Receipts and demands were about hs light as usual, dealers stated, and prices were about the same as those reported at the close of last week’s market. Dealers are Interested in the ques- tion of what is going to happen in the egg market this week. It is believed by certain dealers that the slight ad- vance the latter part of last week will not hold long, warm weather this morning suggesting the possibility of 1n¢ receipts tomorrow. Very few eggs were received this morning, dealers stated, and last week’s receipts were pretty well cleaned up. Prices tomorrow will de- pend entirely upon the supply and demand. Today’s Wholesale Prices. Butter—Fresh, 1-pound prints, 55a B6; tub, 54a55; store packed, 30. Eggs—Fresh, selected, 25a26; hen- mery, 27; current receipts, 24. Poultry, alive—Turkeys, 40; chick- ens, 40; white Leghorns, 24a 80; roosters, 20; ducks, young, 65; old, 30a35. Dressed—Turkeys, 45; old toms, 40; fowls, 24a30; capons, fancy, heavy 85; smaller, 30a32; fowls, keats, young, 60a70; old, 25a30; ducks, 28a30; chickens, 38a40. Meats—Beef, 17a17%; veal, 23a26; lambs, 28a30; fresh hams, 26a28: shoulders, 21a22; loins, 28; smoked , 28a30; smoked shoulders, 18a20. Live stock—Calves, choice, 15%; medium, 11a13; thin, 7a8; lambs, 13. Fruit and Vegetable Review. ‘Today's market report on fruits and yegetables, compiled by the Market Newys Service Bureau of Agricultural Economics, says: Apples—Supplies liberal: demand et steady: barrels, Pennsylvania No. 1, Staymans, 2 inch, 3.00; Virginia, No. 1, Yorks, 2%- inches up, 2.00a2.50; Grimes, 2% inches up, some scalded, 1.5022.00; boxes, northwestern medium to large size, extra fancy Winesaps, 3.00; few higher; bushel baskets, Maryland, No. . Twigs, 2% inches up, few sales, 1.25. Cabbage—Supplies moderate; de- mand moderate, market steady; new stock, Texas, barrel crates, approxi- mately 100 pounds net, round type, 4.00; old stock, no early sales reported. Celery—Supplies moderate; demand , market firm; Florida, 10- inch crates, 4-6 dozen, 3.00; California, crates, 6.00. Lettuce—Supplies moderate; demand moderate, market steady; California, :nus. Iceberg type, 4-5 dozen, 3.00a .25. > Onions—Supplies moderate; demand moderate, market firm; onions, 100 pound sacks vellows, U. 8. No. 1, medium to large size, 3.00; few higher; Michigan, no jobbing sales reported. Potato Market Steady. Potatoes—Supplies moderate; de- mand moderate, market steady; old stock, Michigan, 150-pound sacks Rus- A No. 1, 3.60a3.75, few Sotions, U 8. Nov 1 s, U. 8. No. 1, 3.25, 8.16; new stock, Florida, double-head barrels Spaulding Rose, No. 1, 16.00; No. 2, 16.00. —Supplies light; demand te, market unsettled; South , cloth-top barrels Savoy type, 4.50; Norfolk section Virginia, bushel baskets Savoy type, 1.25a1.50. Sweet potatoes—Supplies liberal; de- mand moderate, market slightly 3 _Tennessee, bushel hampers Elt‘uy Halls, No. 1, 1.35a1.50, mostly Strawberries — Supplies moderate; demand moderate, market fairly steady; Florida, pony refrigerator Mis- 35a37, few high as 40 per uart; 32-quart crates Missionarys, 0a323; per qt. String beans—Supplies moderate; demand moderate, market steady; Florida, 7%-bushel hampers green, 4.50a5.00, few 5.50. Cucumbers—Supplies light; demand te, market dull; Indiana, square bushel crates fancy, 3.75a4.00; extra fancy, 4.00a4.25. Peppers—Supplies light; demand moderate, market steady; Florida, pep- per crates fancy, 6.00; Cuba, hold- overs, pepper crates fancy, 5.00a5.50. BUTTER IS HIGHER. CHICAGO, March 7 (#).—Butter higher; receipts 11,565 tubs; creamery extras, 50; standards, 49%; extra firsts, 49a49% ; firsts, 48a4814; seconds, 46a47. Eggs, unchanged; receipts 33,456 cases; firsts 23%a23 ordinary firsts, 2215 MEN AND MONEY By M. S. Rukeyser. (Copyright. 1027.) One-man concerns are passing as the country grows in complexity, but there are still institutions which re- flect primarily the talents and imag- ination of a single personality. Where a founder has built well, his enterprise usually continues to thrive and develop after he has passed from the scene. Wall Street is less subject to the leadership of Individuals than was the ci in the past. Banking Eroups have supplanted single personalities as moving forces. No one man to- day occupies as dominant a_position as the late J. Pierpont Morgan filled. {Of the old triumvirate,-cousisting of Morgan, the late James Stillman and George F. Baker, 87-year-cld chair man of the t National Bank of New York, only Mr. Baker survived the post-war period. Mr. Baker perhaps, a closer hold on the Wall Street community than any other personality of the present day. The stock market fluc- tuated last week on news concerning his illness at his wintering place at Jekyl Island, G Dillon Pivotal Figure. In the major investment banking firms, Clarence Dillon of Dillon, Read & Co. alone is a pivotal figure. In the other two leading _firms—the house of Morgan & Kuhn, Loeb & Co., there are groups of partners, who are fully capable of carrying on, irre- spective of the survival of any one of their associates. Where the dominant figures in a business enterprise are bachelors, there ig, of course, even greater un- certainty as to who shall fill their shoes than in instances where the head of a business is training his eldest son as his heir and successor. Among the outsanding new business leaders of the country the most con- spicuous bachelors are perhaps the Van Sweringen Brothers of Cleveland and Henry L. Doherty of New York. Orris P. Van Sweringen, the eldest of the two brothers, is 47 and Mantis J. is two years younger. Though in prime of life they have already made provi- sion to put their extensive railroad holdings in trust to assure the execu- tion of their ambitious merger pro- gram, even if one or both should fail to survive the time for the consumma- tion of their plans. Henry L. Doherty is owner of the banking and public utility manage- ment company which bears his name, and is president and controlling stock- holder of the Cities Service Co., hold- ing company for 150 oil and public utility companies. Cities Service and Doherty have been so closely linked in the public mind that they seem inseparable. Building Up Properties. Mr. Doherty has pursued a policy of taking over run-down operating companies at low prices, and through good management building them up and making them prosperous. He is essentially an engireer—a self taught engineer, who learned his profession while working in gas and electric plants. As a boy he sold newspapers, and the other outstanding bachelors— the Van Sweringens—also had a route along which they delivered news- papers as boys. Mr. Doherty’s interests have become 8o far-reaching that there is naturally public curiosity as to provisions for the future. Only 56 years old, Mr. Doherty, whose main hobby is work, has not thought of retirement. He used to share the burden of major business decisions with the late Frank ‘W. Frueauff, his only partner, who died mearly five years ago. No one has wholly replaced Mr. Frueauff, who had a genius for organizing. He made a fine teammate for Mr. Doherty and was useful in translating Mr. Doherty's dreams into actual function- ing organizations. ‘William A. Jones came into Mr. Frueauff’s office from the fleld about three years before the latter died. He made a good understudy and he now is considered second in command in the Doherty organization. His rise has been rapid. Jones’ Rise Rapid. Before coming to New York Mr. Jones served in the subsidiary oper- ating companies. He began as a book- keeper in a public utility plant in Joplin, Mo. Mr. Jones, who is barely 37 years of age, is 6 feet 2 inches in height—a towering figure, with blue eyes and muddy blonde hair. He is married and has three young children. Mr. Jones occupies the role of chair- man of the executive committee and is at the helm when Mr. Doherty is out of the city. Thus far Mr. Jones is little known except to his business associates, He has, however, been taking an increas- ingly important part in the general ‘lctivhie! of the public utility indus- Ty. —_— Twenty-five days left to file your per- sonal tax return. Persons living in the District of Columbia for six months or more prior to January 1, 1927, should inquire at the District Building as to their taxable statusa. Edmonston & Co., Inc. Exclusive Washington Agency mqgflagfiym Perfection in Women’s Footwear— Is Registered in Physical Culture (Style Plus Comfort) Shoes for Women The most advanced Fash- ions find expression in these shoes— and “Preven- tion” and “Correction” of Foot ailments is furnished by their Lasts. No breaking in is ever !_ltm required. Made in all the wanted materials and many models. No Higher in Price than Other Good EDMONSTON & CO., Inc. ANDREW BETZ, Manager 612 13th Street Advisers and Authorities on All Foot Troubles THE EVENING STAR, WASHINGTON, D. C. MONDAY, MARCH CIGARETTE OUTPUT IS RECORD IN 1325 Between $400,000,000 and $600,000,000 Went Up in Smoke During the Year. BY J. C. ROYL Special Dispatch to The Si NEW YORK, March 7.—The people of the United States cheerfully burned up between $400,000,000 and $600,000,- 000, figured on a retail valuation, in the last year in the form of cigarettes, Production in this country amounted to 8§9,460,000,000 cigarettes, but about 10 per cent of the total was sent to foreign countrles, Production showed a eain of 7,000,000,000 cigarettes, while exports gained around 17 per cent, as compared . with the previous year. This country is at the same time the nd largest exporter ports are almost largest consumer. of cigarettes. T negligible. Next to the United States, Asia ac- counted for the consumption of more of the little smokes than any other geographical division. Central Amer- ica, where once an American cigarette was a rarity, now ranks second, with Europe third and South America fourth. Chinese Consumption Up. The great political disturbances in China seem to have spurred consump- tion of American cigarettes rath than checked sales. That count: in the last year. from the world war. Americans seem to have carried the cigarette habit with them wherever they have gone. The largest gains have been shown in Panama, Nica- ragua, Costa Rica, Argentina and Co- lombia, where many Americans are living. Even Cuba, one of the chief tobacco producers, is growing into a valuable cigarette customer of the United States. The European demand, since the countries there have erected the highest .of tariff walls against tobacco products, is largely confined to Americans living or traveling abroad. . America undoubtedly consumes more pipe tobacco than it did a decade ago, but a large percentage of the smoking tobacco is consumed in the form of cigarettes by those who ‘roll their own” and by factories making cigarettes from ready-cut tobacco. Production of chewing tobacco has dropped 32 per cent since the war, while exports have fallen off 44 per cent. Australia is the chief foreign purchaser of ‘“eating tobacco.” Practically all the cigars made in this country are consumed here. Only 7,007,889,000 were turned out in the last year, which was at least 15 per cent less than in pre-war years. The 5-cent cigar has staged a remarkable comeback, but the volume of tobacco stocks of such grades used in these cigars is extremely heavy and grow- ers in some sections have been urged strongly to hold 1927 plantings to a minimum. Cuban Tobacco Unsold. Even 50 per cent of the last Cuban crop used in the manufacture of Ha- vana cigars and in the production of the better quality cigars made in the United States is still unsold. The outlook for the 1927 Cuban crép is for one of good quality, but short in quantity. ‘This will affect the American textile industry to a certain extent, since much of the fine Cuban tobacco, and indeed much of that in the United States, is grown under, cheesecloth. Equal stress is being laid on the necessity of reduced plantings in the burley tobacco districts and even in the bright-leaf flelds of Virginia, North Carolina and Georgia. Prices for the grower have been lowest and profits received by the makers of cigarettes have not had their counterpart in the pockets of the producers of the raw material. ; One cigarette in each package pro- duced in Turkey is being removed and sold to provide for expansion of aviation in that country. The govern- ment has the tobacco monopoly there. R WA R W Y used 6,837,000,000 This was an increase over the peac time years of about 28 per cent. In fact, the big increase in, cigarette consumption all over the world dates People often ask just by the statement that Pluto washes away constipation. “If the action of gluto is caused by water”, they ask, why does not common drinking water have the same effect?” ‘The reason is simple to those versed in the science of medicine. Ordinary water is absorbed before it can reach the intestines. Hence it has no oppor- tunity to wash the digestive tract. Its action is on the kidneys rather than the intestines. Unlike ordinary water, Pluto Water contains a quantity of minerals ex- ceeding the mineral content of the blood. For that reason, Pluto Water is not absorbed, but passes intact through the intestines. Thatis why Pluto washes. It flushes all that’s before it, cleansing the sys- EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Factors in Security Prices. ‘With prices of securities at approxi- wately the peak since the war the question constantly arises when the trend will be reversed. Not only speculators, but investors as well, are interested in the answer. History shows that price movements in any one direction sooner or later reach a limit. So repeatedly during the p holders of stocks and bonds sposed of them in the market at substantial profits because they expected to replace them later on at a lower cost. The problem is to find out if possible what are the un- derlying influences that affect prices over the longer period. It is admitted that no one can forecast minor fluctu- ations and It is only traders, anyhow, that are concerned with the day-to-aay | ups and downs of the market. Now there are two primary f: in the fixing of prices for secu One of these is the current c money and the other is the outlook for trade. If we can reach a conclu- sion about either or both of these it ought to help decide whether or not a given moment is the time to sell. The supply of money operates to affect the price of securities directly. When interest rates are low, stocks and bonds enhance in market value. If one can obtain a larger return on his capital by purchasing a security than he can by using it in his busie ness or by making a short-time loan, he is going to buy the security. Then the law of supply and demand begins to work and the price of securities advances. This is so just as long as there is no doubt about the safety of the return on the security in question. Here is where the other element enters in, the outlook for trade. It will at once be seen that these two factors work against each other a good deal of the time. Money will be most plentiful when there is no call for it in business, but then there will be the greatest doubt about the status of any sécurity the return on which is dependent upon the state of business, It is also plain, however, that one class of securities, the highest grade of bonds—as, for instance, Government issues or the obligations of the strong- est corporations—will be sensitive to the money influence only. The stocks, on the other hand, especially the com- ‘mon shares, will fluctuate to a greater extent with trade conditions. POTATO MARKET STEADY. \CHICAGO, March 7 (#).—Patatoes: demand and trading on russets good, markgt steady; slightly stronger on round whites, Wisconsin sacked round whites, 1.80a2.00; mostly 1.90a2.00; Idaho sacked russets, 2.75a3.00; most- ly, 2.85a2.90; fancy shade higher; un- graded, 2.60a2. ' Cos N GENERAL MOTORS PRGFIT HELD DUE TO EMPLOYES By the Assoclated Press, NEW YORK, March 7.—The pros- perity which General Motors Cor- poration enjoyed in 1926, the greatest In its history, is attributed by Alfred P. Sloan, jr., president, in the pam- phlet report, mainly to increased offectiveness and efficiency within the institution itsel ( “This mea he sald, “that the collective endeavor of every individ- { ual on the pay rolls of General Motors, its subsidiaries and affiliated com- panies, in other words more infelli- gent work on the part of every work- man as well as by those of the execu- tive force, has been the dominating influence in the satisfactory progress of the corporation.” Net earnings for 1926 were $186,231, 182, equal to $21. 80 a share on the eommon stock after preferred and debenture dividends, against 514 a share in 19 leulated on a com- parable b ving effect to the 50 per cent stock dividend paid in Sep- tember. Cash in banks, Government securi- tiea and marketable securities at the close of the year amounted to $135,- 398,386, compared with $145,142,088 the year before. ( TOBACCO RECEIPTS UP. F. Brooke Matthews, La Plata, Made Maryland State Inspector. Special Dispatch to The Star. BALTIMORE, March Receipts of Maryland leaf tobacco last week showed an increase over the previous week, being 191 hogsheads, compared with 153 hogsheads, while sales totaled 138 hogsheads, against 130 hogsheads the previous 'week. This leaves a total of 2,466 hogsheads of leaf to- bacco in State tobacco warehouses. Ground leaves received to date of the 192@ crop total 738 hogsheads; very few more left to come in. F. Brooke Matthews of La Plata has been appointed State tobacco in- spector by Gov. Ritchle. He succeeds Julian C. Blacklock, Bel Alton, Charles County. Quotations today for Maryland leaf tobacco per 100 pounds: Inferior and frosted, firm leaf, $3.00 to $8.00; sound common and greenish, $9.00 to $14.00; good common, $15.00 to $24.00; medi- um, $25.00 to $34.00; good to fine red, $35.00 to $51.00; fancy, $52.00; seconds, common to medium, $6.00 to $20.00; seconds, good to fine, $21.00 to $40.00; upper country air cured, $7.00 to $35.00; ground leaves nominal. e The clothing industry tops all others ew York with 115,000 employ DEPENDABLE and re- sponsible Bank for de- plend-bl- and responsible peo- ple. FEDERAL-AMERICAN o/ ift Off You'll laugh! Lift off hard corns, soft corns, corns between the toes and calluses. It doesn't hurt a bit! Seems Magic! Just drop “Freezone” on any tender, touchy corn. In- stantly it stops aching; then shortly - - WA T Ay & away constipation —that is Naturésway, the way of Pluto Water what is meant a generation. ' tem quickly and completely. Pluto re- lieves constipation in 30 minutes to two hours, Its method ig'the method that Nature provides for all cleaning— water. It never gripes—it is non-hab- it-forming—as harmless and soothing as it is dependable. ‘You wouldn’t think of cleaning your face with harsh chemicals and drugs. ‘Why resort to such things for cleans- ing the delicate tissues inside your body? Play safe. Take Pluto Water— recommended by doctors A small quantity of Pluto Water each day will keep you regular and safeguard your. health. In time of emergency, you'll find Pluto a never- failing friend. Sold at all drug counters and at fountains. Bottled at the springs, French Lick, Indiana. PLUTO WATER When Nature won’t, PLUTO will you just lift that old bothersome corn right off with your fingers. It works like a charm, every time. A tiny bottle of “Freezone” costs only a few cents at any drug store— Try it! A WA WA WA W W W for nearly America’s Physic A S & S A & & & & &GO W ' Margy Dresses will be Shown on Living Models . on the 3rd Floor Tomorrow There is always something about a Margy Dress that you will like. Its color, its smart style, its splendid material, the careful way it is tailored. To be appreci- ated these things must be seen and to be seen at their best, the dresses should be mod- eled. Therefore, tomorrow on the Third Floor we will have Miss Margy Blake model a different Margy Dress every hour on the hour, beginning at 10 A.M., with the excep- tion of from noon to 2 P.M. The Youthful ¥ Misses’ Tweed Frock With Jacket $25 Compose "Margy” Frock in three pieces attractive earrings held captive in the brim that turns smartly off the face. In black satin with pearl earrings. Jacket and skirt of Vil fine imported blocked tweed. The jacket is edged with silk braid. The blouse of flat crepe has an attractive embroidered mono- gram. In combina- tions of dandelion and black, tan and beige, gray and corn- flower. In misses’ sizes only. (Third Floor, The Hecht Co.) folds like a man's scarf and different. Squares of crepe-de-chine, silk-twill- and rayon. In bright plaids and checks, or beautifully hand - painted. From $2.95 to $4.95. (First Floor, The Hecht Co.) The Youthful Misses’ Braid- Bound Navy Suit $25 Short Jacket and Wrap-around Skirt A well tailored lit- In fggush;:?;;m tle suit in fine twill. The collar, revers and pockets of the jaunty short jacket —which is so smart this season — are bound with silk braid. Sizes 14 to 20. * (‘Third Floor, The Hecht Co.) Exquisite flowers that seem the very breath of Spring. d flowers, apple blossoms, violets, daisies, buftercups, morn- ing glories and cherry blossoms. At 50c to $1. (First Floor, The Hecht Co.) Pique Vestee for the taslored suit n white, $1.95. (Fifth Floor, The Hecht Co.) The Youthful Misses’ Navy Twill G oat $25 With new Tuwin- Beaver Collar A _smart new walking shoe for Spring. In smooth tan calf, with un- usual trimming of Galu- chet leather. Cuban or flat heels, for misses. AA to C, {Fifth Floor, The Hecht €53 Attfactive coat in fine twill with fancy braid trimming on sides and on the sleeves just above the cuffs. Silk lined and well finished throughout. The . two-toned fur collar is especially smart and one of Fashion’s latest decrees. Sizes 14 to 20. Third Floor. The Hecht Co.. T : : Large silky Fox Scarfs, in cocoa brown, dark brown and red. Paris has decreed that the Fox Scarf shall be worn as a ect finish to the tai- ored suit. (Third Floor. The Hecht Co.) Have you a charge account at Washington’s Most Beautiful Department Store?