Evening Star Newspaper, December 21, 1927, Page 13

SALES OF TURKEYS SLOW IN MARKET Nearby Receipts Small—Veg- etables in Good Supply. Prices Are Unc" -~nged. | Christmas buyers are not taking vtom With the enthusiasm usually dis- iPlayed four days before Christmas. Last week's warm weather was hlamed for a slow market, but dealers /@re offering no explanation for the continued holding off on part of .buyers. now that there has been an appreciable change in weather condi- tions. Recelpts from near! ,Continue small, but increased receipts @re expected the next two days. It is teared by dealers that holding off +on part of buyers may result in a key raizers congestion the last day of the holi- |- day market that will make conditions anything but comfortable to con- sumers. Peculiar Condition of Market. Dealers say the prevailing condi- tlon of the turkey market is a most o lar one. Pwultry prices quoted ly dealers are largely for the guid- j@nee of Maryland and Virginia tur- ‘Key raisers, a local dealer explained is morning, jobbing prices being (mlightly in advance of quotations. . Almost anything is liable to hap- Pen in the turkey market before the close of the week. Plentiful gupplies of celery, always dn demand for the holiday season, are reported, and there is no scarcity iof cranberries, also in demand. al- though the latter are not as cheap @8 usual. The butter and esg market ¢ontinued this morning unchanged. /and prices of most commodities were substantially the same as vesterday Wholesale Prices Today. Meats, fresh killed—Beef, 20a25; ‘yeal, 24a26; lambs, 26a27; fresh hams, /18a19; Joins, 21a22; fresh shoulders. 16a17; smoked hams, 20a22; smoked shoulders, 14a16; strip hacon, 22a24; lard, 13a131; calves, 14a15; Jambs, alive, 13. Butter—One-pound prints, tub, 63; store packed, 31. Eggs—Fresh selected. 44a45; Mery, 48; current receipts, 42. ¢ Poultry, alive — Turkeys, and medium, ickens, 18a20; alive, 54a55; 1 oung, 7047} eys, 47a: 28: roosters, 18; eapons; fancy, heavy, 45248; sm: 88a40; ducks, 25a30; Keats, 8090, - ¢ Fruit and Vegetable Review. Today’s market report on fruits #nd vegetables, compiled by the arket News Service, Bureau of ¢ Agricultural Economics. says: , Apples—SBupplies moderate, demand godofltc. market steady: barrels, W sales direct to retailers, New ¥ork. 233 inghes up Kings, 2% inches .Bp 8.50;. Virginia, 21 inches up taymans, best, 8.50; poorer, 7.00a +8.00; boxes, Washington, medium to “Jarge size, extra fancy delicious, 4.00a ; Spitzenbergs best, 3.75; ripes, 25; extra fancy:Staymans, 3.00a bushel baskets, Virginia, 2% inches up Jonathans, 1.85: 2% inches . 1ip Staymans, 2% inches up, 2.50a2.75: 4 Virginia U. 8. No. 1, Yorks 2% inches #ip. 2.25; Pennsylvania, U. 8. No. 2. . Romes, 2% inches up, 1.75a2.00. - Cabbage—Supplies moderate; de- ‘mand light; market steady; South +Carolina, few sales harrels, crates, ln:d type, 2.00!2.‘!' 1 #hampers whites; +1.001 | Florida, .Bushel hampers pointed type, fa “quality and condition, 1.00a1.25. i Celery—Supplies liberal: - demand “fmoderate; market ahout steady: New “Tork, % crates,, 2.00a2.25, mostly 2.00; poorer low as 1.50; California, ‘erates, 4.50a5.00; poorer low as 3.50 . Lettuce—Supplies liberal; demand _moderate; market about steady; Cali- #fornia, iceberg type, 45 dozen, 3.00a #8.50; Arizona, crates, iceberg type. dozen, 3.50a4.00; Florida, 2-dozen ierates, bizg Boston type fine quality and et‘a’l:'dltll&r:w 2.75; 1% bushel ham- pers, n type good to ordi- :mary quality and condition, 1.50a3.25. . Onlons—Supplies moderate: demand “moderate; market. firm; Michigan, 'l”.r‘lu sacks yellows, U. 8. No. 1, “meditm to large size, 2.00a2.25. . Potatoes—Supplies moderate; de- and moderate: market steady: New “York, 150-pound sacks round whites, . 8. No. 1, 3.15a3,25: Michigan, 150- | !oun! sacks russet rurals, U. S. No. , 1, 3.25a3.35, mostly 3.25. * Spinach—Supplies moderate; de- “mand moderate, market irm; Virginia, “Norfolk section, bushel baskets, Savoy type, 1.40a1.50. 3 Pt © Tomato Market Steady. i Tomatoes—Supplies moderate; de- “smand light, market steady; repacks, unknown origin, three: ped, “Gount, 2.75a3.00; orlgi Florida, 6s | ripes’ and turning, wrapped, fancy | ‘count, 5.50a6.00; mostly 6.00; repacked | focally, few sales, 6s ripes, wrapped, | fancy count, 7.00. | String beans.—Supplies light; de- _shand light, market about steady; Flor- jda, %-bushel hampers, green, mostly | 2.50; few high as 2.75; poorer hold- overs, 1.50a2.00. i © Cucumbers—Supplies very light, too | few sales reported to quote. ! Peppers—sSupplies light: demand Yight, market dull; orida, pepper | ;nus. fancy, 2.00a2 few high as .50. " Eggplant—Supplies light; demand fight, market dull: Florida. pepper | erates, fancy, mostly around 2.25;| poorer, low as 2.00. | Carrots—Supplies very light; too | few sales reported to quote. ! Beets—Supplies light: demand light, | market dull; Texas, Western lettuce erates, bunched, 3.50; Florida, pepper crates,) loose, 3.00. “ Caullower—Supplies moderate ; de mand light, market steady: California frates, mostly around 2.50; few high 2.75. &% Kale—Supplies moderate; demand moderate, market steady: Virginia | Norfolk_section, cloth-top veneer bar- | Yels, 1.25a1.40. i | PLANS SPIKE MAKING. NEW YORK, December 21 (@).— Youngstown dispatches say Republic | Jron & Steel Co. will resume the man ufacture of spikes for railroads Fauipment will be installed early next year with monthly capacity of 1,000 | tons. i | | STEEL TRADE EXPANDS. NEW YORK, December 21 (#). — First quarter contracts for heavy fin Jshed steel products are expanding in ' the Middle West. Daily Metal Trade yeports. Sales in the Chicago district Jast week were largest for any week | q‘u yea l‘.» POTATO MARKET DULL. CHICAGO, December 21 (U rtment of Denil Receipts, s 52 cars; on track total U. S. shipments, 410 cars, | nd and movement slow, marker sales: Wisconsin sacked 1.50a1.65: round whites, 1 :::t:g russets, 1.50a16; graded, 1.36a1.50. PRICES ON PARIS BOURSE. 8, December 21 P).—Prices ‘v.P,:RI:N[ular on the Bourse today. Three per cent rentes, 58 francs 2 contimesi” exchange on Leondon, 124 franes 2 centimes; 5 per cent toan, 7§ 90 centimes. The dollar was lrlrl:o\.ond at 25 francs 40 centimes. Agriculture).—Pota- ! l Commodity News l FORT WORTH, Tex., December 21 (Special).—Infestations of green bugs are reported in the wheat fields of Wichita, Grayson and Tarrant Coun- ties, The extent of the damage done will depend on the weather between now and Spring, as the green bug thrives in cold weather. Wheat acre- age is likely to be under that of last year owing to the dry Fall. YOUNGSTOWN.—Independent tin plate operations in the valley are at capacity, while the United States Steel Corporation is being maintained at 75 per cent. Tin plate prices are well stabilized at *5.25. ALLENTOWN.—The. Lehigh Port- land Cement Co. has increased its captal stock from $30,000,000 to $60.- 000,000. SAN FRANCISCO.—A million and a half pounds of 1928 wool has been contracted for in Modoc County at 31 cents a pound in the grease. This indicates higher prices to California wool growers next year. Mendocino County producers are holding out for | 40 cents and those in the Sacramento | Valley for 5 cents. | PHILADELPHIA. — The Banana Sales Corporation has taken a 10-year lease on A pier here at an annual rental of $30,000. come effective early in 1928. Increased | demand necessitated this acquisition | of extra space. | S AL | “GARDEN” DIVIDEND UP. | NEW YORK, December 21 (#).— Directors of the Madison Square Gar- den Cornoration raised the annual dividend from $1 and $1.50 by de- claring & quarterly payment of 37% cents, payable January 16 to stock of record January 6. The lease will be- | CAR LOADINGS DROP. Freight car loadings for the week ending December 10 dropped to : 600 cars, from 918,237 the preceding week and 9 the corresponding period of 1926, according to the re-| port today of the car service division | of the American Railway Association. The largest decrease was in coal load- ings A gain was shown in grain| loadings in the Western district. Mis- cellaneous freight trafic was consid- erably lower. NEW YORK MARKETS. NEW YORK, December 21 (#).— Rye barely steady; No. 2, Kastern, 1.228 f.0.b. New York and 1.20% c.if. export. Barley, quiet; No. 2, 1.02 c.1.t. New York. Tallow, firm; special loose, 8%: extra, 8%. Other articles un- changed. [ I | PR SOFT COAL OUTPUT UE. NEW YORK, December 21 (#).— Output of bituminous coal in the United States in the week ended cember 17 is estimated at about 9, 000 pet 1ons by the National Coal As | start grinding on January 15. LARCERL S SUGH OUTTSPLANED | Domestic Producers Expect to Meet Cuban Restriction That Way. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 21.—Presi- dent Machado of Cuba is expected in the next few days to sign a decree permitting the Cuban sugar mills to At the same time it is also probable that he will announce that under the powers conferred on him. Cuban production for the crop of 1927 and 1928 will be restricted to 4,000,000 tons. 1t can be announced authoritatively today that the domestic sugar pro- ducers of America are \.not aligned with the movement of Cuba and other foreign countries to restrict the pro- duction of sugar throughout the world and thereby to raise prices. The cane sugar producers of Hawaii, Louisiana and Porto Rico and the beet sugar producers of the Middle and Far West are not interested, according to their leaders, in the agreement which has been tentatively arrived at be- tween Cuba and some other producing | nations, for the restriction of output. Against Output Restrictions. The domestic producers have seen no reason why they should restrict production and are firmly determined not to do so. In fact, they are prac- tically certain to increase production, even though they do not incrense crenge. This is especially true of the suisiana, Hawalian and Porto Rican cane growers. The leading factors in the Hawalian fleld anticipate increas- ing their vield 20 per cent. without the planting of additional acreage. The introduction of the new Poj canes in Louisiana has brought the most astonishing results in increasing production. Cane has been produc- ing at the rate of from 25 to 40 tons to the acre, with the sugar contents as high_as 185 pounds to the ton of cane. Last vear's cane production averaged 6.7 tons to the acre, with an even greater drop in sugar content. Corresponding gains have been made in other sections through the use of improved varieties and new methods. These facts give an indication of se- curity and stability to the sugar market which is gratifying to con- sumers, who feel that they will not he at the mercy of Cuba and other foreign growers. Tariff Wall Erected. The tarift wall was erected against the foreign producers for the express purpose of aiding the increase in pro- sociation. Production for the week end- ed December 10 was put at 9,678,000 tons by the Bureau of Mine: {' Subscriptions having New Issue Sinclair Crude Oil Purchasing Company To be dated as of Authorized issue $50,000,000 at any one time outstanding. out deduction for the normal Federal income tax up to 2% of $1,000 registerable as to principal only. Redeemable, as a whole or in part, at any time, at the option ty days’ prior notice, at 103% if redeemed on or before July ‘1, 1930; at 102% thereafter on or before January 1, 1933; at 10134 % thereafter on or before July 1, 1935; at 101% thereafter on or before January 1, 1937; at 100, % thereafter on or before July 1, 1937; and at 100% thereafter prior to maturity; in each case plus accrued interest. Principal and interest payable in United States gold coin at the head offices of of the Company, on six Corporation. tion of the trust trust agreement; sum, These Series A For The: | The Company will agree to refund, upon in connection therewuth. duction of the-domestic growers, and any interest that the latter have in it on sugar, is been received in excess of the i to mee that this tarift protection is not torn down. These facts must not be taken to in- dicate, however, that there will be no advance in the price of sugar. Sugar today is selling relatively lower than any other food product. That is, it has advanced to a lesser degree as com- pared with pre-war years than any other general article of food. What these facts do incidate, however, is that any advance will be held within moderate limits and that there will be no runaway market engineered by foreign interests. This has a vital bearing on all the inhabitants of the United States since each person in this country has con- sumed approximately 111 pounds of sugar in the last year. It is expected that every man, woman and child will account for at least 113% to 114 pounds in 1928. The consumption gain has risen steadily from 4,854,479 tons in 1924, to 5,671,335 tons in 1926. As yet. of course, the tofal 1927 tonnage can only be estimated. Few Refineries Profiting. At present prices, there is practical- Iy not a single refiner in the country who is making money. This is due to some extent to the low prices for su- gar, but is also due to the cut-throat practices which at present come into the business. It is to rid the industry of those practices that the Sugar In- stitute has been formed. This organi- zation hopes to eliminate the secret prices and discounts which have eaten into profits in the past. As vet the complete detalls of the arrangement between Cuba and Ger- many, Poland and Czechoslovakia and other countries have not become known and they may not be made pub- lic until the extent of the European beet sowings for 1928 {s known. In the meantime, the domestic pro- ducers are going ahead without refer- ence to the Cuban-European cartel, et i e SHIPPERS AND SOUTHERN ROAD AGREE ON RATE NEW YORK, December 21 (P).— | Shippers in the New York dlstrict and trunk line railroads serving the South today reached an agreement on freight rates at a meeting of the Shippers' Conference of Greater New York. Tariff charges published early this month by the Trunk Line Association fixed a minimum rate per 100 pounds of first-class merchandise from points north of the Ohio and Potomac Rivers to stations south of that line at $1.70. Today shippers agreed to a rate of $1.20 arranged by the trunk lines atter the first schedule had been sub- mitted to the Interstate Commerce Commission, effective January 15 next. . MAY SUCCEED PALMER. NEW YORK, December 21 (P).— Wall Street hears that J. S. Keefe, senfor vice president of American Steel & Wire Co., will be chosen to succeed Dilliam P. Palmer, president of the company, who died recently. Mr. Palmer was a director of the United States Steel Corporation. His death created the second vacancy on the board, the place of Elbert H. Gary Il being unfilled. , this advertisement appears as a matter of record only. $42,000,000 Ten-Year 52% Gold Bqnds, Series A January 1, 1928 To mature January 1, 1938 per annum THE NATIONAL CITY BANK OF NEW YORK, THE CHASE NATIONAL BANK OF THE CITY OF NEW YORK, and FIRST TRUST AND SAVINGS BANK, CHICAGO, Trustee. to holders of Series Sinclair Crude Oil Purchasing Company is en- gaged in the business of purchasing, storing and reselling crude oil. One-half of its capital stock is owned by Standard Oil Company of Indiana and the other half by Sinclair Consolidated Oil The company owns tank farms, located in the principal oil producing fields of Kansas, Oklahoma, Texas and Wyoming, which are connected through field lines with the trunk lines of Sinclair Pipe Line Company, thus afford- ing connections with various refineries of Sinclair Refining Company and with the Whiting, Indiana, and Sugar Creek, Missouri, refineries of Standard 0il Company of Indiana. Standard Oil Company of Indiana and Sinclair Consolidated Oil Corporation, prior to the execu- agreement under which these bonds are to be issued, are to enter into an oil purchase contract with the company, the pay- ments under which the company will assign to the trustee under the trust agreement for the benefit of the holders of bonds outstanding under the trust agreement. 0il Company of Indiana and Sinclair Consolidated 0Oil Corporation will agree to purchase, at any - time on demand of the company or its assigns, the entire amount of the crude oil and tankage then owned by the company, for a sum in cash equal ‘to not less than 105% of the principal amount of all bonds then outstanding under the In this contract Standard each of the two purchasing companies is to agree to purchase one-half the crude oil and tankage for one-half the required Bonds, upon payment of tha three-year 6% Gold Notes, due February 1, 1928, will constitute the sole funded indebtedness of nu application, the P ‘onds resident in that State. 4 Mr. H. R. Phillips, President of the Company, summarizes as follows his letter to the undersigned: the company presently to be outstanding, and will be issued under a trust agreement in which the company will covenant, among other things. that it will maintain its oil inventory in an amount equal, at market values obtaining from time to time, to' not less than 120% liabilities remaining after deducting from the aggregate amount of all liabilities of the company, including all bonds then outstanding under the trust agreement (other than bonds held by the company), the sum of deferred obligations (as defined) and the aggregate assets other than oil inventory. Deferred obli- gations . will be defined as obligations by their terms subordinated to all bonds issued under the The trust agreement will n- trust agreement. Tnterest vayable(January 1 and July 1 in each year withe “oupon Bonds in the demomination sylvania Four Mills Tax SHEAFFER PEN SPLIT-UP SEEN IN COMING MEETING NEW YORK, December 21 (®).— Capital stock of the W. A. Sheaffer Pen Co., which mounted from $100 a share last Spring to $852 early this week, will be split up 20 shares for one, it was revealed yesterday in the announcement of a special meeting of | stockholders to be held December 28 in Fort Madison, lowa. The share owners will be requested to approve a change in capitalization from 9.734 | shares of $100 par value to 194,680 shares of no par value. A dividend rate of $2 a share on the new stock is expected to be estab- lished, which would be equivalent to $40 a share on the present stock. Div- idends are now paid at the rate of $7 annually. —_— COTTON MILLS PLANNING OUTPUT CURTAILMENT CHARLOTTE, N. C., December |21 (#).—Cotton mills in the Carolinas and Georgia will reduce operations Friday in an effort to prevent cloth buyers from gaining control of the market, it was learned yesterday on receipt of a statement from Walker D. Hines, director of the Cotton Tex- {lle Institute, that almost 3,000,000 spindles would be put on reduced time. The statement, received at head- quarters of the American Cotton Manufacturers’ Association here, said that practically every mill among a number operating 3,000,000 spindles had indicated an intention “in view'of the emergency to reduce working hours for the time being beginning December 23 by closing at noon each Friday for the rest of the week.” p FLOOD LOSSES HEAVY. Some New England Farmers Hard | Hit—$1,350,000 Damage. Agricultural losses from the re- cent New England flood were re- ported yesterday by the Department of Agriculture to have aggregated $1,350,000. A survey showed the area dam- | aged to have heen 7,056 acres. valued at $351,793. Farm houses numbering 187 and valued at $146.- 695 were destroyed, as well as 00 barns valued at $183,470 and 2 other farm buildings valued at $79,- 135. Approximately 2,000 head of cattle valued at $150,000, and poultry, hogs, sheep and horses worth $29.231 were lost. Losses included also hay and silage, grain and feed, fuel, food, furniture and clothing. and miscellaneous farm appertenances. . D. L. & W. INCOME DOWN. NEW YORK, December 21 (P, —November net operating income of the Delaware, Lackawanna & West- | ern declined to $1,543972 from $1,806,644 in Novemb: and for 11 months this ye: to 6,236,443 from $18,027,617 in the same period of the balance of amount of quick clude provisions limiting the company in respect of the creation of mortgage obligations and the pledging of its assets. As of November 30, 1927, the company owned 37,474,000 barrels of crude oil of a total market value of $52,003,026 which, together with $3,071,032 cash and $10,803,999 accounts receiv- able, aggregated $65,878,057 quick assets, equiv~ alent to 136% of the sum of current liabilities (other than the Three-Year 6% Gold Notes) plus the principal amount of this issue of bonds. In addition the company has invested about $16,000,000 in fixed property, consisting chiefly of real estate, storage tanks and tank equipment. The proceeds of this issue of Bonds will be applied chiefly to the payment of the company’s Three-Year 6% Gold Notes, 1928, of which $50,000,000, were originally issued, and $39,478,000, principal amount, are now outstanding. Application will be made to list these Series A Bonds on the New York and Boston Stock Exchanges. Price 98", and interest, to yield about 5.70% Bonds at a 4% Bank Discount Computed From Sinclair Crude Oil Purchasing Company Three-Year 6% Gold Notes, Due February 1, 1928, Will Be Accepted in Payment the Date of Payment for These Bonds to February 1, 1928, We offer these Bonds, if, as and when wssued to and received by us, subject to the approval by counsel of all legal proceedings 1t is expected that delivery in the first instance will be made on or about January 5, 1928, in the form of temporary Bonds or intcrim receipls. The National City Company Chase Securities Corporation Blair & Co., Inc. First Trust and Savings Bank, Chicago The above information is based upon official statements believe it statisties on which we have relied. to be correet We da not guarantee but due February 1, principal amount, Spend what you save at Piggly Wiggly for EXTRA Xmas Gifts FIRST TIME in Washington’s Marketing History Every One of the Fine ‘TURKEYS - “Z (| Offered by Piggly Wiggly is U. S. GOVERNMENT INSPECTED! Here's turkey-per mas dinner! Every —and to go with your U. S. Government in- spected Piggly Wiggly TURKEY Celery, New York State crisp 10 c 65¢ stalks ...... 22c proval of the U. S. usual service assures finest of fresh-killed s A satisfaction. water, pint, 35¢; quart ......... Cranberries, Cape Cod, Ib. Servea U. S. Go Dates and Figs for the holidays Dromedary Dates, pkg. ..20c Marvin Golden Dates, pkg. ..15¢ Black Palm Pitted Dates, pkg. ..23¢ Imported Layer Figs, Yarlb. pkg., 12V5c S-Ib. Holly Box... APPLES Finest Western Box Stock cious D, 2 lbs., 25¢ Arkansas Blacks Winesaps Spitzenbergs 3 lbs., 28¢c Cooking Avples 4 1bs., 25¢ Ginger Ale Cantrell & Cochrane Imperial Dry A real treat Carton of 75c 6 bottles, 17V5¢ 1b. 3 lbs. 50c Broken Candy Special Mixture Dixie Hard Mixture of Grape Juice Armour’s Pint, 19¢ Quart, 35¢ Welch’s Pint, 30c Quart, 55¢ A Nicety For the Holidays Fruit Cake 2.1b. ch 3.1b. s Size Size Cook’s Pound Cake Made of the finest ingredients. 2 lbs.— 45c R&R Plum Pudding 1.0b. 29c Can BRI RIABARNZR CIGARETTES Camels Chesterfields Lucky Strikes Piedmonts old Gold 12lc Pkg. Give a Carton of Cigarettes as a Christ- mas Gift Assorted Chocolates in Hard Mixture fection for your Christ- turkey—hen or tom, large or small—sold at a Piggly Wiggly Store is first inspected by and stamped with the ap- Government. This un- you of getting only the turkeys—a guarantee of There Can Be No Dissatisfaction When You vernment Inspected Piggly Wiggly Turkey! - NUTS for Christmas California N Diamond® T 98¢ Paper_Shell New Crop Almonds, Ib., 37¢ Georgia Paper Shell Pecans, Ib., 49¢ Washed Brazils, Ib., 29¢ MIXED NUTS 4 Ibs. for 95¢ A faney including_No. nuts. selected monds. large Brazil nuts and faney fil- 5. %5¢ Ib. FLORIDA ORANGES Sweet and Juicy Thin Skins. Dozen, 55¢, 45c, 35c and 25¢ Florida Grapefruit 7Y%c, 10c and 12Yc wixture, DIXIE 85¢ TANGERINES m.DTI;" & 300 California Navel Oranges 80c, 75¢, 70c and 60c doz. Just the thing to start your Christmas Dinner All the varieties are on our shelves— Consomme, Bouillon.! Chicken,” M ulligatawney, Celery, Pea, Mock Turtle, Ox Tail, Bean, Vegetable, Asparagus, Clam Chowder, Pepper Pot and Mutton Broth. ca 10c