Evening Star Newspaper, January 10, 1928, Page 13

, STABILITY IS GOAL INLABOR MARKET Tremendous Program of Road and Building Construction Factor in Situation. BY J. C. ROYL 8pecial Dispatch 1o The Star. NEW YORK, tability in the market for labor is equally as important to the merchant and manu- facturer as stability in the market for their own products, according to some of the largest financiers and distribu- tors in the country today. as the year starts for a maintenance of profitable employment rather than a situation which will call for an extraordinary number of work- ers for a brief time. Secretary of the Treasury Mellon declares that the steady progress was due in large part which sustained a general purchasing power contributing much to the pro- motion of business stability. “One of the factors in our economic progress,” he said, “has been the im- proved relationship between labor and capital and the growing appreciation on the part of both of the necessity of working ogether, and not of fighing each oher, if prosperity is to be main- ined and both are to participate in at prosperity.” Inelligent Control of Situation. | intelligent mana- rol of the various processes | er than to any artifi- cial T on of our Suppl money and credit, according to Mag- nus W. Alexander, president of the National Industrial Conference Board. “In seeking to stabilize employ- ment,” he said, “we must turn our consideration to those factors which exert the most important influences upon the volume of employment. The tendencies toward a decrease in industrial employment have been due in part to the increased mechaniza- tion of industry., but at the same time production has been rising.” Agricultural experts forecast an in- crease in the price of farm labor in 1928, but a decrease in the cost of labor to the farmers as a result of the employment of mew and more efficient machinery on the farm. As to sectional employment, New England gives only a slight indica- tion of unemployment. The metal trades in Connecticut and Massachu- setts show a betterment. Shoes in Massachusetts and New Hampshire are active, while rubber and machine goods are in fair ocondition. The textile industry is very spotty. Ver- mont will provide considerable em- ployment for unskilied labor in re- habilitation work. y Middle Atiantic Outlook. In the Middie Atlantic States the outlook is not so bright for New York as it was a year ago from the industrial employment standpoint. In New Jersey skilled labor is in demand but there is an oversupply of un- skilled workers. The same is true for the District of Columbia, Mary- land, Delaware and to a slight ex- tent Pennsylvania. In the latter State, however, not all of the build- ing craftsmen are expected to be em- ployed. In the Boutheast both skilled and unskilied labor will be aided by the building trend. Georgia is in a splendid _industrial situation With $20,000,000 invested in mew factories in the last year. In North Carclina the outiook is only slightly better than fair. South Carolina is pre- paring to take advantage of any busi- ness improvement in the textile in- e oy GEORGE P. SACKS, Elected president of the Bank of Be- thesda, succeeding Walter R. Tucker- man, who declined to run for re-elec- tion. BILL ORDERS PROBE OF SOFT COAL AREAS Senator Johnson Proposes Inquiry in Relation to Alleged Attempts to Depress Labor Cost. By the Associated Press. An investigation into conditions in the soft coal flelds of central and western Pennsylvania, West Virginia and Ohio was proposed in a resolu- tion introduced vesterday by Senator Johnsop, Republican, California. The Senate Interstate Commerce committee would be charged with in. quiring especially whether railroad | ¢ companies and their officlals “have been or are, by agreement or other- wise, endeavoring to depress the labor cost of coal produced by union-mined labor,” and whether ‘‘defenseless women and children, without cause, have been evicted from their homes,” The committee also would be direct- ed to ascertain whether in industrial disputes or strikes in those coal fields “injunctions had been issued in viola- tion of constitutional rights. and whether by injunction of the United States have been abrogated and de- nied.” e CAPONE FINDS MIAMI IS KINDLY DISPOSED Gang Leader Given Permission to Remain in City if He ‘Be- haves Himself.” MIAMI, January “Scarface Al"” Capone, Chicago gang leader, is in Miami and “if he Js here for a good time and behaves himself he can stay as long as he likes,” Po- lice Chief H. Leslie Quigg, announced yesterday. Eight friends were said to have been with Capone when he arrived, but their local headquarters was some- what in doubt. One report said the party was registered at a downtown hotel, but the register did not reveal such guests. Another was to the ef- fect that Capone had taken a bunga- low in Miami Beach, and planned to open negotiations for the purchase of a night club here. EVERYMAN’S 10 P).— dustry. In the Middie South, Jumber, oll, tron, steel, sugar and textiles promise | improvement. It is likely that the coal output will be greater, but whether it will yield profits is another question. Agriculture in West. In the Central West the agricul- tural situation will take care of most of the unskilled Joczl labor, but will not provide for the ftinerant worker. ‘The éemand for employes in the cattle trade, automobile manufacture, agri- cultural machinery, stee! mills and oil and coal promises fo show improve- ment in Michigan, Kansas, Ohio, In- diana and Illinois. Missouri, Iowa, Nebraska, North Dakota, South De- kota and Minnesota have a prosper: ous agricuitural outlook, but with only ecasonal demand for outside workers. The Southwest promises to be ex- osedingly active with metal mines, lvestocks, cotton and oil showing marked activity, The Intermountain West has per- haps the lezst favorable outloock now, aithough the mines are undoubtedly dus to fmprove their production, beet sugar operations will be heavy and wool production profitable. Neverthe- less, except for the few weeks of har- vesting and shearing, locsl labor will #muffice 10 take care of all dernands, In the Pecific Northwest there may #n occarional oversupply of unskill- but the activity of the siries of the territory is| * the situstion 18 by no means | Lnsstistactory, The fact remains, however, that in ewh one of these districte the predic- tions of extensive employment of Loth e znd urskilled workers are de- pencent on the tremendous program Lor roast and building consteuction, —vee— CHEESE FIRMS MERGE, NEW YORK, Janusry 10 UP).— Kruft Cheesy Co, Chicaxo, has sc- Quired the Phenix Cheene Corporation, and the title of the Kraft Cheems (o will be changed 1o Kraft-Phenix Cheene Co. Al announcement wler- | Auy waid 1het James L. Kraft, presi- | Gent of Kraft Cheese, would become rhair of the | #nd n ¥, Whitn Pheriz Cheese Co. would be president of the new compuny. The balence shect of Phenix Cheese Corporation on Marcn 927, showed Unal uswets of 94,8585 4 of directors, y, president of ~ squeeze onto ingersapply o Nose = “, ic cotsrth, .?’“;' i oits B, ot INVESTMENTS BY GEORGE T. HUGHES. Stocks for Investment. So far In our discussion of the essentials of an investment policy un- der present conditions in the security markets all the stress has been put on the possibility of appreciation or de- preciation of principal. This is the foremost consideration when the prices of stocks and bonds are at the highest in a generation, but it is not the only one. Investment is first of all the pur- chase of income. There are excep- tions, as for instance when purchase is made of unimproved real estate with the idea that eventually it will be worth more money. In a sense this may be investment, but it is more like speculation. Ordinarily the investor desires a return on his money either to use for current expenses or to lay aside as the nucleus for the buying of other securities. From this standpoint let us look at the stock market as it has been in recent weeks. At once it is plain that stocks Jeave much to be desired as far as income on the money it takes to ecquire them is concerned. At the peak of the bull market in 1927 there were scores of industrial stocks, evi- dences of partnership in long estab- lished and prosperous corporations, that gave a yield of only 4 per cent or less at prevalling dividend rates and prices, It follows that the buyer was think- ing not in terms of income, but with an eye singly to fluctuations in the price of the security. Buch stocks may prove profitable In the long run, but they are not suitable for those who have to live upun the income from their capital, retired business men, widows or others similarly situsted. It is a difficult problem to advise people in thix class what to do, There are two or three possible snswers. One of them is the preferred wtock. Another is the foreign bond and sull another, applicable only in a few ex- nannuity. A Wise Woman Trains Her Bowels .” When elimination s perfect,there is seldom auacheorailment.Even the complexion shows what & litde cajeium does for the system, Do you know that only an occasional tiny wa- fer of calcium will soon have your system func- tiosing every day—of its own accordt How much better tian salts! Calcium keepy you fus- tidiously clen inside, ndpvunlhywnl‘ sbout! Ask s physicisn, | ] Vs Try it, A five-dey tent will | prove w you very con- clusively the system’s | weed for calcium, snd the ided benefit from these little walers, Your droggin has thiem=thie test slee for ocket is 10c. Or the wily cice, Goc, 20 7 cestment g on peceipt of yout vesme sddics ' _THE EVENING EGGS ARELOWER: POULTRY HIGHER Turkeys Also Advance in Price—Hennery Product in Better Receipt. Increases in poultry prices and de- creases in the prices of the various grades of eggs are reported by whole- sale dealers today. Live turkeys, quoted yesterday at 38 to 40 cents a pound, are bringing a top price of 42 cents today and sell- ing at a minimum of 40, while fowls, which sold yesterday at from 26 to 28 cents a pound, are bringing the same top price today they did yester- day, while today's minimum price is 27. Dressed turkeys are bringing the same top price they did yester- day, 45 cents a pound, and Spring chickens are selling at from 32 to 34 cents a pound. Roosters are selling at 16 to 17 cents a pound in place of 15_cents a pound straight. Fresh selected eggs are bringing 45 and 46 cents a dozen instead of 47 to 58; hennery, 47 to 48, in place of 48 to 50, and current receipts, 43 to 44, in place of 44 to 45 cents a dozen, the prices quoted yesterday. ‘The slump in egg prices {s attribut. ed by dealers to the recent spell of warmer weather. ARl other prices remain generally the same, Today's Wholesale Prices. Meats, fresh illed—RBeef, v 4a26: lamb, loins, i fres] smoked hams, 20: ders, 16; strip bacon 1214; calves, alive, 16; lambs, alive, 13 Butter—One-pound prints, 54a55; tub, 53; store packed, 31. Poultry, alive—Turkeys, 40a42; 27a28; roosters, 16a17; ducks, 1 a20; keats, young, 70a75; old, 35. Dressed turkeys, 40a45; Spring chick- ens, 3234; roosters, 18; capons, fancy, heavy, 45a46; small, 38a40; ducks, 25a 80; keats, 80a90. Eggs—Fresh, selected, 45a46; hen- n::y, 47a48, and current receipts, 43 244, Fruit and Vegetable Review. Today’s market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics, sa. Apples—Supplies moderate; demand moderate, market stea sales, Virginia, U. 8, up, Staymans, 8.00a8.5 Staymans, 21 inches u ity and condition, 6.00a No. 1, 21 inches up, Black Twigs, 6.00a6.50; boxes, few sales, Washing- ton, medium to large size, extra fancy Delicious, 4.00a4.25; Romes, 8.00a3.. Spitzenbergs, 3.16: bushel baskets, Pennsylvania, U 0. 1, 214 inches up. Staymans, 2.25a2.50. Cabbage—Supplies liberal; demand moderate, market steady w York, sacked, per hundredwe: Dan. ish type, 1.00al. barrel crates, round type, 3.75; Florida, 13- bushel hampers, pointed and round type 2.50. Celerv—S8upplies moderate; demand moderate, market firm; California, crates, 6.00a6.50; New York, 23 crates, 2.7582.85; poorer low as 2.2 ; Lettuce—Supplies of Western stock moderate; demand moderate, market steady; Arizona, crates, Iceberg type, 4-5 dozen, 3.50a3.75; supplies of East- ern stock moders lemand moderate, market steady; Florida, 1%-bushel hampers. Big Boston type, wide range prices, 2.00a2.50; 2-dozen crates, Big Boston type, mostly 2.25. Onions—Supplies ight; demand light, market firn Michigan and Ohio, 100-pound sacks, yellows, U. 8. No. 1, 2.75; few higher. Potato Market Steady. Potatoes—Supplies moderate; de- mand moderate, market about steady Michigan, 150-pound sacks russet ru- rals, U. 8. . 1, 3.40a3.50; few high- #1595 %1245 1% Toa *895 1-Ton G-Boy 670 3, Ton Commescial Aboss Prices / chassis §. 0. b. Detrot 770 1 o.b Darels 8 Dupont Circle Main 6660—Night Phone, Main 1943 Edward B. Semmes, Inc., Alexandria, Va. H. C. Fleming Motor Co., Hyattaville, Md. GRAHAM BROTHERS TRUCKS Behd wand Boytied by Dratign Mouttomis Dodow Yrapobass o s . |interest than a | wage readjustment, STAR, WASHINGTO er; few low as 3.25; Maine, 160-pound sacks, Green Mountains, U. 8. No. 1, 3.65; Minnesota, 110-pound sacks, cob- blers, 2.40a2.50. Spinach—Supplies light; demand moderate, market firm; Texas, bushel baskets, Savoy type, . Tomatoes—Supplies * light; demand light, market steady; Florida, sixes, ripes and turning, wrapped, fancy count, 5.50; choice count,” 4.50; gree: fancy count, 3.25; cholce count, 2.3 unknown origin, repacked in New York City, threes, ripes, wrapped, fancy count, 2.25a2.50; choice count, 1.50a1.75; few high as 2.00. String beans—Supplies light; de- mand moderate, market steady; Flor- ida, %-bushel hampers, green, 6.00a 7.00; few slightly higher; wax, ordinary quality and conditfon, 5.00. iggplants, peppers, squash, cucum- bers—Too few sales reported to quote. Lima beans—Supplies very light; de- mand light, market steady; Florida, 73-bushel hampers, 5.00a5.5 “*Cauliflower—Supplies moderate; de- mand moderate, market steady; Call- fornia, pony crates, 2.40a2.50. Carrots—Supplies moderate; demand light, market steady; California, West- ern lettuce, crates, 3.50; G tern lettuce ' crates, York, 100-pound _sacks, bushel baskets, 1.15a1.25. Beets—Supplies light; d@{nnnd light, market steady; Texas, Western I tuce crates, 3.50. o COURT LEGALIZES PAY OF CHAPLAINS Rejection of Atheist’s Proposal to Enjoin Payments Affirmed by D. C. Appellate Tribunal. haplains of the Senate and House o(‘vll:;!ro!omu(lvcs as well as those in the Army and Navy may continue to draw their salaries as far as the District of l';nlum soncerned. h"l:}:: appellate tribunal in an opinion by Justice Charles H. Robb yesterday atfirmed the action of the District Su- preme Court which had denied an in- junction asked by James I. Elliott of New York, said to be affilfated with an atheist soclety, who sued Frank White, treasurer of the United States, to prevent him from disbursing funds of the Government appropriated for the salaries of the chaplains on the theofy that employment of chaplains constitutes the promotionof religious Views and the establishment of reli- glous and sectaridn institutions in vio- lation of the Constitution. Justice Robb points out that the Frothingham case in the United States Supreme Court is controlling. There the court said that a mere taxpayer is not entitled to prosecute & suit against the carrying out of an 2ct of Congress and a “citizen,” in which capacity Elliott sued, has no mcre payer. “Looking through forms of words,” says Justice Robb, “to the substance of the complaint, it is merely that officlals of the executive department of the Government are executing and will execute an act of C ed to be unconstitution are asked to prevent. be not to decide a judiclal controversy but to assume a position of authority over the governmental acts of another and co-equal department, an authority which plainly we do not possess.” MINERS’ WAGES CUT. Pittsburgh Firm Lays Reduction to Trade Depression. PITTSBURGH, January 10 (®).—A made necessary because of the “serious depression in the coal Indust according to a company statement, was announced yesterday by the Pittsburgh Coal Co. Wage reductions from 4 to 8 cents an hour, but not affecting all occupations, were made effective today. The new rates range from 59 to 873 cents per hour for an elght-hour day in the underground occupations and 51 to 68 cents an hour for outside work, the statement said. The pres- ent scale of waj has been in effect for the past year. NLY great volume uction makes e exception- ly low prices ossible cks so high mn qua]ity~ oo SEMMES MOTOR COMPANY HAPHAKL BEMMEN, Fresident Amoclate Dealer bia Court of Appeals | D. C, TUESDAY, JANUARY 10, 1928. COTTONIS LOWER ON EASIER CABLES Trade Buyer on Decline and Prices Steady Up Somewhat. By the Associated Rress. NEW YORK, January 10.—~The cot- ton market opened steady today at a decline of 2 to 11 points, active months selling about 13 to 15 points net lower in early trading under liquidation and local selling based on relatively easy cables from Liverpool. There was some trade buying as prices approach- ed the 19-cent level for March, and ; |after selling at 19.03 for that delivery prices steadied up 4 or 5 points from the lowest on covering. Private cables reported Bombay and London selling in Liverpool and that the market there had been affected by the Lancashire labor situation, but that reports from the Manchester goods market were still encouraging. Ama WHEAT VALUES SAG IN TODAY’S DEALING Notice Taken of Forecast of Large Clearances of Argentine Grain This Month. By the Associated Press. CHICAGO, January 10 (#).—Prep arations for a Government crop re- port due this afternoon occupied much of grain trades’ time today and prices early tended to sag. Considerable no- tice was taken of a forecast of large clearances of Argentine wheat this month. Opening at a shade lower to % advance, Chicago wheat underwent a moderate general setback. Corn and oats were also easier, corn starting un- changed to % off and later showing downturns all around. Provisions held firm. SENATE AUTHORIZES AGRICULTURE LEASE Bill Makes Adjustment on Bieber Building Use by Department for 2 1-2 Years. The Senate yesterday passed the bill authorizing the Department of Agri- culture to make a necessary adjust- ment in the rental for the Bieber Building, 1358 B street southwest, for its use the last two and one-half years, and also to cover the leasing of the building in the future. The bill con- tinues available a total of $119.328 already appropriated, and authorizes a further appropriation of $45,676 to enable the department to pay to Harry Wardman, Thomas P. Bones and James D. Hobbs for the rental of the building at the rate of $55,000 per year for the fiscal years 1926, 1927 and 1928, Senator Smoot, chairman of the Public Bulldings Commission. explain- ed to the Senate that the building has been used by the Government ap- proximately 12 years and that it changed ownership a few years ago before the Government lease explired. He sald some difficulty developed at that time over renewal of the lease, which led to litigation. ‘The present bill, he sald, was neces- sary In order to settle the question of the rental since the old lease expired thorize continued use of the pro- ~~for REMOVAL OF CHASE BANK STOCK LISTING IS ASKED Stockholders of Chase Securities Corporation Vot, to Request Withdrawal of Shares. By the Associated Press. NEW YORK, January 10.—Stock- holders of the Chase Securities Corpo- ration at their annual meeting today voted to request the removal of the stock of the Chase National Bank from the list of the Stock Exchange. The stockholders of the securities corpora- tion are the same as those of the bank. The movement to withdraw bank stocks from trading on the exchange was inaugurated by Charles E. Mitchell, president of the National City Bank, after widespread agitation among bankers to minimize specula- tion in such securities. It was argued that fluctuations of quotations on bank stocks had no direct bearing on the financial position of the institu. tions and that in time of financial stress violent drops in prices would cause much harm. Officials of the Chase 'nstitution quickly followed the lead of the National City’s head. peii OIL OUTPUT DROPS. Huge Decrease in Nation's Crude Production Is Registered. TULSA, Okla.,, January 10 (#).—A decrease in the Nation's crude ofl pro- duction last week, averaging 50,884 barrels daily, was the greatest record- ed since June, 1925, when the Smack- over fleld in Arkansas started its sen- sational decline, the Oll and Gas Jour- | nal said today. Dally average production for the week ended January 7 was given as 78,915 barrels, as compared with ,799 barrels for the week ended 'mber 31. The light oil dacline was given as 49,094 barrels, | California reported an average gain | of 750 barrels daily. The entire mid- continent area declined 43,265 barrels. — ZINC STOCKS GAIN. NEW YORK, January 10 (P).— I 40,751 short tons, an increase of 1,431 tons over November 30, the American Zinc Institute reports. Shipments were 50,916, of which 4,433 tons were exported. Metal sold but not deliver- ed at the close of December was 23,536 tons. Retorts operating at the end of the year totaled 77,084. Pro- duction of zinc in 1927 was 613,548 short tons, and shipments 594,68¢ tons, of which 45,040 were exported. MARYLAND FINANCING. Special Dispatch to The Star. ¢ BALTIMORE. January 10 (Special). —The State of Maryland and the City of Baltimore will be in the market for funds in the next 30 days. Today the City of Baltimore will offer $1,500,000 4 per cent bonds, dated October 1, 1927, and maturing serially from 1938 | to 1967, On February 8 the State of | Maryland will open bids for $1,815,000 4% per cent general construction cer- tificates of indebtedness of the loan of | welrgfana maturing serially from 1931 | to : —_— ORDERS 1,015 CARS. i NEW YORK, January 10 UP).—The Texas & Pacific has ordered 500 gon- dolas from Pressed Steel Car, and 300 flat, 200 box and 15 passenger cars from American Car & Foundry. ’! ices of our safe d Buils by Trad Divtsten wf Todge Beuthaes, (oo Stocks of zinc on December 31 were |. AMERICAN SECU —AND_TRUST conmt Central—7th and Mass, Ave. SCHULTE PLANS CHAIN. 1,000 Ictnil Merchandising Stores Included fn New Project. NEW YORK, January 10 (P).—A new chain of general merchandise stores is being organized under the sponsorship of the Schulte R Stores Corporation, Udo M. Reinach, secretary of the company, announced today. Initial stock will amount to about $35,000,000, a portion of which will be offered to holders of Schulte stock. About 1,000 stores are planned for retail merchandising on a price scale | g of 5 cents to $1. The Schulte Retail Stores Corporation operates the sec- ond largest chain of tobacco stores in the country, and is heded by Davia A. Schulte as president. AR CHRYSLER CUTS PRICES. NEW YORK, January 10 (®).— Chrysler Corporation has reduced prices $55 to $85 on its four-cylinder line and $50 to $100 on the six-cylin- der line. Desiga: by dentists y dent by dentists tail | 13 MACHINE DEMAND GAINS. ; NEW YORK, January 10 UP—A% tivity in the market for machinery and machine tools is gradually in- creasing. Interest centers in the new production schedules of major indus. tries and much of the pending busi- ness is 1o be released In the near fu- ture, American Machinist reports. The automobile industry in particular is expected to furnish a large part of the first quarter bustness in new equipment. NEW YORK MARKETS. NEW YORK, January 10 (P).—Rye ady; No. 2 Western, 1.22% ¢ York and 1.20% c.lf. ex- rley harely steady: No. 2, f. New York. Lard firmer; Spet coffes 14%al5; No, 4 Other articles un- PRI IN MARKET FOR CARS. NEW YORK, January 19 (®).—The Union Pacific is in the market for 500 flatears, 10 diners and 15 coaches. the Teeth where the or- dinary brush wont reach teeth regularly. But are you brushing every tooth all over? Use the Clean-Be- ‘Tween and leave no half-cleaned teeth! ‘This modern brush, de- signed for the real up- and-downbrushingthat dentists recommend, gets into every crevice, presses out every gum pocket. It adjusts this way"\ then thisway J to sweep every tooth all over. 1f you want to avold the dangers of infected always to feel like they’ve just been clean- attractive Bakelite-and- nickel handle and the adjustable brush head, costs only 98c; crisp, new bristies, to snap onto the permanent ! Gone Valuables, jewelry, stocks and bonds are not securce at home. They should be placed in a Safe Deposit Box —for safe-keeping. Worry, disappointment and loss often result from keeping valuables in insecure places. Our Vaults eposit department. BRANCHES: iR © AL F W TS N N —arc safe and convenient. We invite you to call at any of our banking offices and acquaint yourself with t | SCrv- y 4 (OANY © | 15th and Penna. Ave. N.W'. Capital, Surplus and Undivided Profits Over $6,900,000 > Southwest—7th and E Sts. S\W, Northeast—8th and H Sts, N.E. Northwest—1140 15th St. NN\W.