Evening Star Newspaper, December 7, 1927, Page 16

THE EVENING <T AR, WASHINGTON, D. C. WEDNESDAY, DECEMBER 7, 1927. 0D CHRITIS SEENINNORTHWEST Farmers Able to Buy—Better Crops and Dairy Products “"Are Answer. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December years the farmers of this country have been able to do little more at this time of year than look at the mail-order catalogues and wish. Today they are able and willing to buy and are com: ing into the 1 plies commodities needed wanted for year B and the the Northwest are bein; rate of about $1.100,000 according to bank ipal cities there s for grain have not been v satisfactory, but the crops have been, and the farmers, turned a good pa into payment of ¢ are ready to make this a real holiday season. Montana’s a month, rings in the Year Record. just compl tural year the trend of lands for f have involved 150.000 more than $5,000,000. Many in that and other States ar the lands they have bes valued at | farmel pplement astonishin income from this sour placed at $174,101,000, or that from corn, whea nd oats com- bined. In the Northwest marketings | of crops for the first three months of the season aggregated $220,000,000. Sales of farm implements in the Northwest have increased since har- by 25 to 33 per cent th four months ago. Ma flax and potatoes ha double those of the late months of 1926, The flax crop alone has brought $50,000,000 in new wealth into the Northwest, an increase of about 30 per cent from last year. The crop was 4,321,000 bushels above the average, , while not so high as in have averaged better than $2.20 a bushel. Mill Center Helped. The prompt movement of grain has had a most stimulating effect on mill- ing activities in the flour-producing centers. Mills have been operating about 20 per cent nearer capacity this year than last. Bank deposits are ris- ing throughout the agricultural re- gions. In addition, farmers are bor- rowing large sums for the purpose of financing the fattening of live stock, and with the present price situation of the feed crops and the live stock markets, these operations promise to be exceptionally profitable. In general, the agricultural situa- tion is flourishing. me sections have experienced hardships in_the shape of floods and bad weather. Some farmers have not marketed at the right time. Others have let costs rua high, but in general the situation is better than a year ago. This means that rural business is good. It is good not only for the farmer, but for the manufacturer and mer- chant, since the farmer is their best customer. Trouble Not Over. This does not mean that the farm- er's troubles are over. He still has them in quantities, but it does mean he wants to buy and can pay. The great difficulty both for farmers and distributors comes in those periods when the farmer has to buy and can- not pay. Moreover, the volume of farm money coming in has not ceased. It is just commencing to_flow into growers of citrus fruits, and Win- ter vegetables and garden truck in the South and on the Pacific Coast. Agriculture has lost thousands of those who formerly followed this line of endeavor, and with them has gone a valuable asset in experience and farm knowledge. Strong efforts are being made to make rural life more attractive. The move toward the use of ‘labor-saving equipment has been exceptionally marked this vear, and 50 has the electrification of the farms, but the effort to convince the farmer that he is or can be or wants to be a “white collar” worker _seems doomed to an early and definite failure. LEHIGH VALLEY EARNINGS. NEW YORK, December 7 (#).—The Lehigh Valley Railroad earned $ a share on the common in the first nine months of 1927, against $6.26 a share in the corresponding 1 period. Net lm‘ogmseex dropped to 51 220,398, from more than Costly Re and | | sees a | investor in the dark. e been near- | t VERYMAN’S /ESTMENTS )RGE T. HUGHES. 9, Bonds in Default. In the last article in this series an {analysis was made of the 41 bond de- faults, either of interest or principal or both, in the past six months. In | proportion to the total number of [bonds outstanding this is really an encouraging showing. It is better | even than it appears at first exami- nation. A 10od many of these defaults will be cured. ularly the case with the real estate issues, most | hich were included in the list be- c: of the troubles of two dis | tributors. In some of them the in- vestors will eventually recover all their money and in oth large part of it. And this lead the point that simply because a bond has defaulted it does not necessarily fol- low that it becomes worthless. The bondholder has always the re- course of foreclosure to enforce his claim, and while this is a long, tedious and often expensive process, it gen- erallv means the sa of something from the wreck. his is the ad vantage of heing a bondholder instead of a stockholder. The latter invariatly s in a worse position when disaster overtakes a corporation, for the stock- holder is a partner and not a creditor like the bondholder. That is not to say that default should not give the bondholder con- cern. Tt is alwa serious, no matter how well secured by property values the hond may be. And it is always reflected in the market price of the | Lond at one time or another. If the et it will dis sionally this dis- «s is so thorough that fter the default actually takes place the bond stops going down. but this unusual. It a_warning to be | heeded, however, when any bond shows teady and consistent decline in_pric What the holder should do when he prolonged downward move- nds on the circumstances Diligent inquiry ought all sources of in- en this often leaves the Of course, when ictive market the e, for then the ng. Perhaps ment de in each to be m formation the bond has no s that much wol low falls without war | the best counsel that can be given is se such care in investing in the ce that defaults in one€’s hold- ings will be held to a minimum. S. A. L. EARNINGS DROP. Directors Expected to Order Only Bond Inter Payments. Special Dispatch to The Star. BALTIMORE, December 7. ings of the Seaboard Airline Railw 27 will be far smaller than t| when net income totaled $3,178,670, eq to $13.28 on the pre- ferred and $4.71 a share on thes com- mon. Private estimates made on the basis of the nine-month statement in- dicate earnings of around $5 a share ‘on the preferred and less than $1 on the common this year. Consequently, directors, at their meeting this month, are not expected to order anything but payment of the regular interest rate on the adjust- ment mortgage 5s. There remains about 12 per cent in- terest in arrears on these bonds, which will have to be taken care of before there can be any serious talk of divi- dends on the stock: SOUTHERN PACIFIC. NEW YORK, December 7 (#).—The Southern Pacific has ordered 25,292 additional tons of rails costing $1,250, 000, bringing total orders placed re- cently to 94,867 tons, at an outlay of $5,250,000. United States Steel re- ceived 38,563 tons, Bethlehem Steel, 38,664 tons, and Colorado Fuel & Iron, 17,640 ton: See Our Xn;a: Display ‘Boudoir, Table Bridge and Floor LAMPS and Shades Lamps—Metal .Wood and Pottery Shades—Silk and Parchment % MUDDIMAN ¢ 709 13th St. N.W. Main 140—6436 pairs Cost You NOTHING —when you employ ice Plan. It’s the mode operate a complete deliv without ¢ 0O.'S. ginal investment. Truck Lease Serv- m w tor merchants to ery system of their own E\er)thmg is taken care of for you except the driver on a moderate monthly ch: Inlim hundred truc sively your own. Main ments, gas and oil—all in ed. It will save you mon know the benefits of S. Service Plan. For partic use the phone— “S. 0. TRANSPORTATION ENGINEERS ited facilities. One or a s with body and paint work exclu- tenance, repairs, clud- ey to 0.8 ulars replace- Customer No. 11 Newland & Hiller, Bakery 2 Trucks Now Started With S. Call—Franklin 505" CONTROLLED BY YELLOW TRUCK AND COACH MFG. (0. A SUBSIDIARY OF U 30-38 M St. N CTRL'(,KS FOR EVERY GENERAL Franklin 505 MOTORS .| here; KROGER CHAIN STORES| TO BE RECAPITALIZED Lehman Bros., Bankers, Handling Deal With Second Largest Firm of Its Kind in U. S. By the Associated Pre: NEW YORK, December 7.—Recapi- 7 of the Kroger Grocery & . the second largest cl n the country v Lehman who 200,000 | announced Brothers, have acquired more shares of new stock, repres of the holdings of B. founder of the business. Mr. Kroger | will become chairman of the board | of directors and will be succeeded as president by Willlam H. Albers, now vice president and general manager. Stockholders will be asked to e change each exlsting share of $10 par value for two sl of no par so that the new capitalization, in dition to a small amount of preferred stock, will consist of 2,000,000 shares of new common stock, or which only bout 1,050,000 shares would be issued nd outstanding. -Reports of an im mediate merger with another impor- tant grocery chain were officially denied, but it was pointed out that the mpany has a large amount of stock authortzed, but unissued, which might be used in arranging consolidations at some later date. The Kroger chain operates 3,7 food stores in Ohio, Kentucky, diana, Missourl, Michigan, rginia d“" ]’mm ker: It making fee-ro; Public offering of the Kroger acquired by the bankers will be within the next few weel constitute the largest piece of indus: trial common stock financing thi year, the banker: i CHICAGO LIVE STOCK MARKET CHICAGO, December 7 (United States Department of Agriculture).— Receipts, 27,000 head; fairly e; steady to 10c lower than av- erage; top, 8.90; bulk desirable 210 to 300 ]‘mmd .u 5; 160 to 200 : 130 to 160 pound pigs, bulk packing sows, 7.50a7. few best light- weights, 8.00a8.10. Cattle—Receipts, 00 head; fed steers steady to strong; spots higher; she steady ‘weak; other steady; light-weight steers pre- bulk of value to sell at la 00 downward; good trade on com- mon and low medium fat steers and stockers and feeders; latter class very scarce; no weighty steers sold; few best yearlings, 17.50; mixed yearlings, 17.35; stockers ‘xnd feeders, 9.00a10.50; weighty sausage bulls, 7 a7.90; vealers, 50213.00 to packers. Sheep—Receipts, 11,000 head; very slow; few early sales of choice han weight lambs to_shippers, 14.00a14. steady; practically nothing done on heavy-weight and plainer kind; sheep INQUIRING FOR IRON. NEW YORK, December 7 (A). M. Byers & Co. is inquiring for 12 tons of Bessemer pig iron for first- quarter delivery at the Warren plant, and the same quantity of gray forge iron for each plant at Pittsburgh and In- Iilinois, [ O and will in Commodity News FORT WORTH, December 7 (Spe- clal).—Progress of the sheep business, according to some authorities, is in- terfering with the come-back of the cattle industry. During the lean cat- tle years ranchmen, at great expense, converted their pastures into sheep- raising a and now are slow to re- turn to the old ways. As a result, cat- tle herds are increasing very slowly, despite rising prices, ZEALAND. The Ottawa Poultry & Egg Association, a_co-op- erative organization of 400 producers, here, will lmzm operations January 1, shipping specially graded eggs in car- load lots to Eastern cities. More than a million hens are producing eggs in the territory covered by this market- ing organization. 'he ore shipments from amounted to hipments were 7,430,712 tons an last son, which was m;,,mx r 1 closed e 1921 than at any time s AKRON.—Under Uw impetus of the marketing of new in the last weck, and in response to Spring tir orders, the Akron tire producers are expanding operations this week. 3 One large opera- tor from the anthracite field, who nor- hipped 1,000 cars of anthraci has concluded his nts of only 450 ca here are ions that many mines will go vere Winter MIS'SOURI STATE LIFE. NEW YORK, December ). — E ate Life Insurance Co., St. joined the ranks of the surance companies in the v, with nearly $750,000 in life urance in force at the end of the st nine months this year. New insurance for the period was $108, 833,1 6 per cent over the same period last year. 0IL WELL SUPPLY CO. NEW YORK, December 7 (@) Louis Brown resigned as presi- dent. of the Oil Well Supply Co., and has been elected chairman of the board. Walter C. Carroll was elected president. The changes will be effec- tive January 15. —Percolation —compensation —invigoration WILKINS BREAKFAST COFFEE Sold tn 1h. & Girard, Ohio, a total of 36,000 tons. Bessemer is quoted at $17.75 to $18 and gray forge, $16.75 to $17, valley. Colored delightful Christmas blue, green, maroon own proper setting. new Coronas. You'll fore the Christmasru “I.H_B .PEAGONAL W, 208 Mills Bldg. PURSE AND Pum'ost::j Ask for T'vpe Bar Y2 1b. cartons Coronas for Christmas The new Duco finished Coronas make gifts. There is a color for every taste—red, , cream, lavender— and each is wonderfully attractive in its There’s a gay holiday air about these enjoy giving one— or receiving one. And for downright use- fulness no gift can equal Corona. Come in and make your selection be- sh begins. Conveni- ent terms of paymentarranged if desired. ORONA RITING MACHILNE L C Smith & Corona Typewriters Inc Established 1903 M. 4112 ‘Washington, D. C. 3rand Ribbons and Carbons hampers fancy, 4.00a4.50; choice, 3.00a 8.50. Peppers — Supplies light; demand moderate, market firm; Florida pepper crates fancy, 2.0022.25, mostly 2.25. Squash — Too few sales reported to_quote. Beets — Supplies llp.ht, light; market duil; few light, market bunched, 1.7 Carrots — Supplies light, market steady; ern lettuce crates bunched, 3 Spinach—Supplies limited; moderate, marke* slightly Texas, few sales bushel b quality and condition, i rfolk Section bushel b ; barrels, few sale: U. S. SURVEY MAPS ALASKAN WASTES Party Discovers New River, Lake and Active Volcano in Un- chartered A--a. l Wholesale Markets Today's market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics, says: Apples—Supplies moderate; demand light, market stead rels, Virginia : , Yorks e .’ tair hington, medium to fancy Delicious, 4.00a4 Spitzenbergs, mos 0: Staymans and Romes, 3.00 mostly 3.00; ncy Jonathans, mostly ripe, bushel baskef Virginia U. Staymans, 2 inches up, 2.00a2.25, few _higher; Grimes, 214 inches up, 1. vania 2%-inch Yorks and Black Tw unclassified, 1.75a2.00. Cabbage—Supplies moderate; mand light, market steady; New 1, per hundredweight, , 75a1.00; South Carolina, few direct to retailers, 2.50. Celery—Supplies moderate; demand moderate, market steady; New York, 2-3 crates, 2.00: Lettuce—Supplies limited; moderate, market steady; es, Icebers type dozen, 4 . 135-bushel 1 demand Not Just A Drink— An Event! Virgin b kets, 1.10a1.2 demand California, ‘dozen, 5.00a 4.50; Bos- r, 1.50 By the Associated Press The United States Geological Sur- vey has filled in another on the map of the World. it discovered a new river, a lake and an active volcano aska expedition of last Sum- mer has returned, after mapping a territory more than 2,000 r miles in the Alaska range cent country. This area he m!nw has been shown as unknown s on the map of the World Tk b 1 blank Potatoes—Supplies moderat mand fair, market about steady 1, 3.25; few high as 3.40; Maine. ].’-0~p0|m(l sacks Green Moun: tains, U. S. No. 3.60; 120-pound sacks Green Mou 2.9023.00; ldaho, 120-pound sacks round wi 210042 Ontona upplies moderate, steady 100-pound llov medium to large size, 100-pound sac medium to 1.65a1.75. String Beans — Supplies ate; demand moderate, steady; shel hampers green, 1.5 . mostly 1.75a2.00. Tomatoes — Supplies limited; mand light, market about steady: as, lugs green wrapped and ripe: turning wrapped from ripening mostly around 4.50; California packed threes ripes wrapped, 3.00; Bahama, repacked threes ripes wrapped, 4.25a4.50; Ohio, 10-pound bz kets hothouse stock, medium size, 2.75a3.00, mostly 3.00, large and small : a few as low as 2.00 light; demand Michigan, ew York, No. 1, quality, The Sociable Drink —it promotes good fe].lowshlp, because there is enjoyment in every sip of NATIONAL GINGER ALE. There is no mystery about it. It is just good old-fashioned GINGER Ale — the kind you like best. Made today the same way that made it famous. By case or bottle at grocers and delicatessens. Served at cafes, clubs and fountains. Guggenheim Co. 33rd & K Sts. peed of 15 miles es in what ‘Mr, “superb lake,” named miles long, hemmed in behind lofty mountains, and im- pounded behind a great glacier. The mountain peaks in the section are ragged pinnacles which could be climbed, if at all, with great difficulty. The highest peak is Mount Spurr. Its flanks are covered with perpetual snow, but from its top, a plume of team, rising 1,000 feet into the cold air, could be seen, the party re- ported. size, fair moder market about de- Tex- and oms, 4. An apple tree in Mountmellick, Eng- land, has just borne its second crop for the seas Flor- W. 2508 bushel shington’s Christmas Store §or (Ten and Bous g Gifts That Will Bring Fond Memories to His Every Leisure Hour quare bushel ¢ Useful gifts, luxurious gifts! This man’s store is full of them and your selection can' cover the wide range of his needs and preferences. Here we emphasize gifts most welcome in his leisure hours—for these are the in-between periods when sentiment may dominate the mas- culine mind. So we begin with— Lounging Robes $ Brocaded robes with full silk linings in con- trasting colors and matching satin trimming. Heavy black satin girdles, satin cuffs, collar and pockets. All colors and color combinations, with stress upon the deep rich shades. Lounging Robes $13.50 TImported ombre robes, with silk cord binding and silk gir- dles. Heavy, warm and in attractive shades. Lounging Robes $15 Satin trimmed, cord and tassels. colors and color tions. Other Unmbrellas $2.50 to $10 Canes $3 to $15 Handkerchiefs 25¢ to $3.50 Neckwear $1to $5 Cigar Lighters $2 to $10 Bill Folds $2 to $10 with silk Beautiful combina- Useful, Appropriate Gifts i Bath Robes $5 to $13.50 Pajamas $2 to $25 Mufflers $1.85 to $13.50 Silk Socks 75¢c to $3 Sweaters $5 to $25 Driving Gloves $1.85 to $10 Smoking Jackets Another leisure hour gift and one that every man appre- ciates in his home hours. A splendid selection. $7.50 to $22.50 “CHRISTMAS, 1927—BUY NOW— [AIL EARLY FOR BETTER SERVICE”