Evening Star Newspaper, February 15, 1928, Page 13

¢ eerted » - tng prices. * fmored repeated official WArnIngs con- FINANCIAL. " CURB DEALS BOOST POOL SPECIALTIES | | i {ssues Bid Up in an Effort toj Check General Liquida- tion. BY WILLIAM F. HEFFERNAN. Bpectal Dispatch to The Star. | NEW YORK. February 15 —-Con- | efforts to check general liquidatiou in the curb market by bid- { i | i Following is the list of stocks and bonds traded in on the New York Curd Curb Market today: s 1 ding up pool specialties failed of their purpose today. Evidently the outside | public was paying more heed to con- jons prevalent in outside industry | 5 within the market itself and no| jonger was sure of iis position. Harden- | 1 naencies ot call tunds and caliing © ther loans was not to the liking | o! al holders of stocks. who were aninus to lighten accounts where this could be done without materially affect- | Pub es in numerous instances were down frantically, with plenty of siock for sale. Announcement of the | plans for recapitaligation of the Amer- lcan Super-Power Co.. involving sale of additional stock at §33 a share to < ~A" and class "B stockholders. was followed by some liquidation in | both issues. In addition to the sale of | common stock the company plans to offer an additional 90,000 shares of pre- ferred. the proceeds of which will be used to cover certain large investments. | Vacuum Oil was off almost a point at intervals, but most others did little. Prairie Pipe Line was an_exception. | advancing sharply 1o a new high record | following publication of preliminary estimates on 19 earnings. which | placed the amount at §27.50 & share. | against $17.83 in 1926. This included | results from its subsidiary, Pure Oll | Pipe Line. | Those favoring higher prices utterly | eerning unwarranted speculation on | the buving side of Bancitaly shares.| and the price moved forward spec-| tacularly into new high ground. | DOWNWARD TURN SHOWN | IN CHICAGO CORN PRICE. Wheat Also Goes Lower. Due to| Decline in Liverpool—General | Set-Back Noted. Br the Assomated Press CHICAGO, February 15 () —Livel profit-iaking on the part of recent bus ers of corn did a good deal to make corn prices tumn downward early today. i Whest also went lower, influenced by | the fact that Liverpool quotations showed an unexpected decline with prospects of large shipments from Ar-{ gentina. Opening unchanged to % off, ! corn underwent a moderate setback all sround. Wheat started unchanged ml 1, lower, and subsequently showed 8! general drop. _Oats were easy. Provi-! sions also tended 1o sag. i Seliers in the corn market appeared to be affected by talk current in some quarters that prices are about 17cents | & bushel higher than a year ago, where- &5 the crop s 100.000.000 bushels larger. It was also asserted that hogs are be- ing fed at # joss and are being mar- keted on a big scale. Another bearish circumstance was ket had risen to wit of the price of wheat. Good buying support for corn vaiues became evident. however. when the market dipped. Commission houses speculators took actively at mnx; the buying side. and op_one. spirited | July gorm todey readtied & new ' high-price record for the erop. Light- ness of receipts and indications of con- | tinued strong cash demand for corn | helped to give fresh coursge o nu- | merous buyers. | CHICAGO LIVE STOCK MARKET. | CHICAGO. February 15 (United' States Department of Agriculture).— Hogs—| , 25000 head; market uneven: steady to 10 cents lower: big packers inactive; talking 15 cents or more off. few loads of strictly choice | hoge, 160 to 200 pounds. 8.45 and 850, op. 850; Lmited supply above 840 bulk desirable, 170 %o 210 pounds. 8. 1o 840. 220 to 250 pounds 810 o 8.30° 260 to 320 pouncs, 8.00 to 8.15; king sows slow, most early sales: 7.00 10 725 aboul steady, betier grades' g:gs fairly active; light weights slow, | uik desirable kinds. 700 W 7.50. 9,000 head: better grace fed steers. 25 cents lower, siow 8t ceciine; weighty offerings & Ty parrow demand. common and medium grade steers sl weak. snippers de- m: very narrow, light yearlings mogerately sctive steady L easy. trade on matured almost at standstill; she stock generally steady, bulls steady 0 easy, vealers, 25 1 50 cents higher; lgnt yearling heifers, 1200 w 13.00; vealers. 1500 1o 17.00; best, 17.50. Brwep—Receipts, 15000 head: fat I1smobs opened very draggy, unevenly 25 50 cents Jower packers wanung full Cattie—Receipts, . 1600 ids of good lambs, 15.00 1 sheep about seady. good fat 9.50; heavy kinds around 8.00 lamia wcerce, uncpanged NEW YORK PRODUCE. 15 Bpecial) in crates of feeding green peas from Mexico Job- at 5008650 prr cra containe: rita peas realind Zu-quzr. hampet Unied Biater Briovin zppies w0 o mrrel, Melnumies Foore 12200 Green, Few Upstate New ¥ seliow onlons vere gtiracuve enough in quality v 225 ger 106-pound bag. The s on MMACe Western oonsign- wes wOOUL 299 RKew Yore carrots sod et i-pound vag 144 Cuban wmates of ied at 2125 W jor pacy ol 180 Ume- 62', U 430ty brough 3 from 2.5084.00 per de No. 1. 2'z-inch st chiefly 750 10.06a11 60, and 9.50810.50 “ DROP IN BRAW SUGAR PRICES KEW YORK e war cwsier eurly Ui aeclining <16 oent proung for the s Feis The PO sl Raw Sughs fuiures opened W3 point dower w whisng- Connuea U e semainger of the 0 guRUOn kR sel- 18Lr Geliveries by tunses wilk 0 Cubkn connections Inwety “el wna ootinued 1ehned vuger seemned Claay B sgEIEMIVE DuYILYE wnd prices €1 wdG0ey nuwen nel lowes of T w3 pulnts, WL the new montis wnwing e msZm Cecline w 1efiped suger markel v un Changed 8 590 for fine grenulated, with ch H BAR SILVER PRICES. NEW YORK Feurusry 15 ‘A e 50, Mexian Aol 4% LONDOR Feorumry 19 8 Bar sl 26 6 per ounce, money 'y per nt olwount TRl ehort ‘ L $7 por cent, Liree mon'he 8 cen, Bar o el bilis iy ixon 1 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Ofice Sales INDEPENDENT Ol 8TOCKS, i hundreds. BOAM Con Olflde INDUSTRIALS undreds Hieh. 1:30 1 Acetol Prod A 3 S aAm Rr TAm Col Tine w 1Am Cranamd B Am Cvanam nfd Dent | Xtoree Salesin STANDARD OIL 18 FORMER SURSIDIA 0 Anglo Am Ol . ) Ans A O non vt ) Buckeye B 1 0 Cont'l Ol 1 1400 Humble 011" & R 81 P L - 1a i Booson & K 1 Renson & B i 3 Riam S 100 Prarie P L Rohack B RS, Al & Bras in Gy R R 50 3t & E Pow 1000 Vacuum Oi1 ampbell Wyant | nds n Ind Alcohol Ta Pow 41,8 . In Pow 5a’. Am Seelan € A 1 i Pilod o n Wl 41y Roll Mill 3¢ ol "M 1 Beaon O W 7 Clirtie Py ) Beaverbo, Ko 2 Pavesa 1 ¥ » Deers & I Doehier o E S 1 Dubitier PAL Biae D RSP d &SP He w I8 CNRSP Al T B 1 3 St 1801 Serv Tnvest Ine R Secur Co F Fo A #Fox Theaters A 4 Freed Eiwem R C I Galeshure Coult 3 Bak A K3 1008 10 Ay Printing A Havniness 2 Hazeltine € nap P&, 1 Match o Chem. # Municipal Sery. | INat Fl Pow Food G GRE & 1 1 ; 2 Richtid O I Gan ‘4 4 Fiee St Prus 6y T Cone Mun e AW RR By 1ia M Bk Fin @ lsmron Hyd b ey o 1L £ M Bk Den 6 1 I B w 10 Graide e 06 Jtn Grayde Tn 67 " By *Ea divisiena BOSTON WOOL MABi(ET. BOBTON, February 15 ; Medium snd low grade fleeces and An e | ;| ritories were firmer today in ton wool murket [ sules was not laige ow the low stocks holds in pulled wools winn quoted ut 4INING 5TONKS woAm Co MW s 0 8t 11281 15, three-eighths blood at ul 0% and quarter blood at Fine Olio fleeces were quoted cents grease basis, half blood [ Fuw ¥ . Cod G GouInA Cour 3 cents, three-eighths blood at blad3, quarter blood at b2 Refloated Bh NORFOLK, Va, ip Sails, i (&3 ' which went pe Charle ated yer! e W Ballmor around 4 mile; Lighthouse Bunday, 107 1m0 (Bpecinl) he Boa- volume of chiefly to The same situation Fine tenitory 11661 20 clean basis, French combin at 1 08n1.12, halt blood Sal 00 L 60 “ February 18 (A7) i 8hipping Board frelghter Tashmon, from DG ADVANGEEEN INRETAL SHES Business Volume in Most Lines Growing Steadily. Chain Stores Spreading. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, February 15.—A care- ful survey of retail sales from January 1 to date indicates that the volume of business in most lines for the first quarter will be fully 10 per cent in ex- cess of that for the first quarter of 1927, There is every indication that there will be an improvement 10 the rvetail situation following the increase in in- dustrial activity which now is making itself apparent, and the latter will be augmented by the resumption of sea- sonal employment. This is especially to be expected in the agricultural dis- tricts, since the present Winter has been such that preparations for Spring work are much further advanced than usual. Despite these facts. however, many retailers throughout the Middle West and in other sections are anvthing but joyful over the outlook. These indi- vidual merchants feel that they have done exceedingly well in meeting stren- uous competition from chain stores, but now they are threatened with re- newed opposition from the mail order houses and this is likely to be carried right up to their doorsteps. Plans for 100 Additional Stores. Montgomery Ward & Ce. is estahlish- | ing at least 100 additional re | year. The company already has eventually to operate 1.500 retail units in the larger centers of population. Retailers now are excecdingly anxious to know whether Sears. Roebuck & Co. have been expanding their store facili- ties and this program was by no means concluded at the end of 1927. ‘There been, however, up to this time an indicated policy that Sears, Roebuck would not expand these retail stores outside of the cities where branches are located will be followed in view of the exten- { slon of the Montgomery Ward chain | George B. Everitt, president of Mont- ery Ward, explains that there is no intent to injure the small store owners tail stores | 50 retail stores in operation and plans | Tt is uncertain. . however, whether this indicated policr | "ENING STAR. WASHINGTON, D. C. WEDNESDAY. FEBRUARY 1:- SIX MEMBERS ARE ADDED TO PIGGLY WIGGLY BOARD J. R. Peters Elected Vice President at Memphis Meeting to Fill Vacancy. By the Associated Press. MEMPHIS, Tenn, February 15.— J. R. Peters of Memphis was elected vice president of the Piggly Wiggly Corpora- tion, to succeed R. F. Carr, and six new members of the boord of directors were chosen at the annual meeting of the corporation here yesterday. The new directors arc: J. H. Him- eszn, Washington: Arthur C. Jones. Los Angeles: Leo Kayser, Bumingham. P. J Saunders, New Orleans. Theodore Smith, New York, and M. B. Starring, jr.. New York. They succeed six Mem- | phis men. | J. E. Maury continues as president, with W. G. Morrison secrefary-treasurer. Mr. Maury's annual report showed total sales of approximately $184,000,000 during 1927. an increase of $26,000,000 | over 1 It was toind & report said, ior a nev. policy tegardins individual o ~r-hip of stores to be adopted. with the result that 450 nnit have been sold durire the past sear, ihe corporation now retaining oniv the Memphis and Columbus, Ohio. stores. “It is now the policy of the company.™ Mr. Maury said, “to d velop the unused territory in the U-ited tes and after this territorv has bren developed. to begin operations in foreien countrie attracting & wider area of buyers to their cities. | center and the regular trading radius has been increasea to 30 and 35 miles. | miles.” Scoffed by Merchants. | The retatlers, however, scoff at this 01 % | reason. They say the retail stores are Many see merely another attempt by outsiders to cut further into their local fields. | 7 Franklin Hobbs. widely known econo- | mist connected with one o has recent nx 5% | Chicago banks analyzed . | In his survey he found that the weak 1 [ spot in the present merchandising ) ;| tem was the excess of retail stores. Chi- cago has one retail store for every 74 of her population. The other 10 citles average one retail store for every 71 TSONS. “If any other business were in a simi- lar . position.” Mr. Hobbs declared. “it too_many retall faflures. The factor which is perhaps counted H on to carry retail trade along until &% 5 | least the first of July is that the agri- cultural sections are in spiendid posi- it is characteristic that this should be spread out in purchases over | the first part of 1928, | RAILWAYS TO REPORT " 1927 PROFITS TO . C. C. to Pay Amounts Due Government on | Companies Required Their Excess Earnings. notified by the Interstate Commerce ings and to pay over to the Govern- ment, in accordance with the law. one- half of the profits in excess of 6 per cent of their valuations ‘The notice provided the form upon which railroads should make the state- ment and Iald down reguiations of values previous years, but few ral paid any money to under {ts provisions, preferrint to wai® for the termination of litigation over the method of valuation The recapture of excess earnings by the Government was & policy adopted oy Congress in 1920, but the difference betw:en the commission and rallroad valuations of their own property has occassioned | seven years of delay In the collection of | excess income. N | win ity | Let Southern Pacific help you ' wTRAVEL 'HEADQUARTERS A1 Porton, General A Room 4, Bouther Fiftoenth 8t at H Phone. Main 22 Wasl Go West one way~return another SUNSET ROUTE New Orleans to San Francisco Apache Trail San Diego Carriso Gorge Los Angeles GOLDEN STA’ ROUTE 1o los Angeles Old Mexico Salton Sea Old Missions Movieland ov AND ROUTE to San Francivo Great Sult Lake Sietra Ne Lake Tal Yosemite SHASTA ROUTE San Francisco 1o Pacific Northwest Sacramento Valley Pacific Northwest * ey 1.00 b1 and and be believes that the plan of his | company eventually will aid them by | 3+ | “Our experience has been.” he con- | 43+ | tinued, “that wherever we have located | 94%, | jocal merchants have benefited. Every | {town has been stimulated as a trade whereas formerly it was only 10 to 15 the larger ! *+ | the census returns on 11 leading cities. | would be biown up long ago. That is | the answer to the retail business fallure | record. We have had and are having | tion. Parmers made money in 1927 and | money | Every rallroad in the United States! which operated at a profit in 1927 was | Commission today to report sueh earn- | A similar order has been fssued in | bads have | the Government | Bonds Loans Collat | Net premiums in process of collection.......ooiviiiiiiereennnes All ot 2 TOTAL ASSETS.............. 4 | already too numerous in some localities. | LIABII Policy! | i | Premi | Misce! BALANCE TO PROTECT PO!.ICY CONTRACTS American Experience Legal Tabl | Gain i Assets Increa Increa 1917 1919 1921 1923 1925 I, J. Ad W, L. Andrews Chas. E. Baldwin Harry Blake 2 C. Coombs W. K. Cowden wal sy and resumed her voys policies ... Surplus ....... 9,417,807 15,695,944 COTTON PRICES SLUMP AFTER OPENING HOUR 12 to 19 Points Decline’ Reported in New York—Hedging! Noted in Liverpool. | By the Associated Press, 1 NEW YORK, February 15.—The cotton market opened easy today at a decline of 12 to 19 points under realiz- ing, combined with local and Southern selling, promoted by relatively casy Liverpool cables and the forecas. for local rains in west Texas. May cased off to 18.16 and Octover to 18.03 at the start, but these prices | brought in some trade buying or I newed covering, and there were raflies of 7 or 8 points from the lowest Jn early trading. Thes tered further realizing, however, ama! the market was within a point or two ! of the lowest at the end of the firsty, hour ) Private cables reported hedging and !, of labor troubles in Lancashire, but hat a fair cloth business was pending with India, and improved sales were reported at the Shanghai auctions. The buying attracted by the opening decline was supplied on rallies of 7 or 8 points and the market eased again later under a renewal of realizing by recent buyers. together with scattered local and Southern selling. May de- clined to 18.09 and October to 17.98, ASSETS: First mortdage loans on improved rea! estaie Real estate Cash in banks and in office. on Association's Policies. eral Loans . her assets ... ATIES holders’ dividends not yet due..... Reserve for taxes accrued ..... ums and interest paid in advance. llaneous reserve requirement le of Mortality and 3!':7 % inl | middiing, | strictgood ordinary, 9.84: good ord FINANCIAL. with the market showing net losses of | about 24 to 27 points at midday. LIVERPOOL, February 15 (#).—Cot- | ton—Spot in moderate demand; prices higher; American strict good middling. 10.79; good middling, 10.49: strict mid- dling, 10.34; middling, 10.24: strict low 10.14; low middling, 10.09; Sal 6,000 bales, includ- American. Receipts, 4.000; | American, 3.900. Futures closed bare- Iy steady. March 962, May 9.59. July October 941, December 9.40, Jan- 9.39. nary. 9.54. ing~ 3.900 NEW YORK GRAIN PRICES. NEW YORK, February 15 (#).—Rye, barely steady: No. 2 Western, 13174 f. 0. b York and 1.20 c. 1. f. ex- . firm; No. 2, 1.07% c. 1. I. T Lard, firmer; Middle West. 1165a11.75. Spot coffee, firmer; No. 7 Rio. 15 cents. Hay. steady: No. 3. 16.00 al700. Straw, easy; No. 1 rye, 22.00. NEW YORK DRY GOODS. NEW YORK, February 15 (Special). Cotton goods markets were active to- New Y visable, the | liquidation in Liverpool. owing to fear «iay. as print cloth prices advanced !, at 8% for 68x72s. The standard 64a60s were uncha d at 7%4. Raw silks were vnchanged in a quiet market. DECLINE IN RUBEER. February 15 (Special) <moked ribbed sheets techned noon_quotation of 31 his compares with 401, a| monik 220 and 387, a year ago. Crude 11l 12 1. 1ith St at R 1626 Conn. Av Main Kansas Ave. cal Acacia Mutual Life Association Summary of Annual Report as of December 31, 1927 1,607,400.00 360,409.85 4,072,233.14 $436.486.74 160,000.00 149.29787 145,035.67 70.000.00 2,523,070.60 442,575.04 '$890.840.28 on all $21,149,345.05 1,329202.54 terest 322, 478,547. Another Year of Great Progress n insurance in force | Insurance in force December 31, 1927............. é Dividends paid or credited to members....... se in assets . se in reserve ASSETS $1,359,858 2,220,990 4,613,495 971,438 1,306,269 New insurance paid for.......cocceveeieniiiiiitiiciiicsocccanes 37,981,370.00 264,258,116.00 1,183,988.27 23,369,387.87 411930254 4,019,931.82 SURPLUS Thc: first and only mutual old line company to reduce its premium rates so that its policyholders get the advantage of the low initial rates of the stock company com- bined with the dividends of the mutual company. PROGRESS DURING THE PAST TEN YEARS INSURANCE ln Force End of Year $68,565 70,013 316,961 WATCH US GROW WILLIAM MONTG OMERY, President DIRECTORS: Paul G. Cromelin J. Harry Cunningham L. Whiting Estes E. G. Graham James C. Hoyle Thos. E. Jarrell HOME OFFICE, 13th and F Street J. Claude Keiper Arthur 1), Marks John T, Meany Jos. H. Milans J. B, Nichals, M, D. Chas. F. Roberta N L. F R L. . Steuart Fugene B Thampson E. Lee Trink Francis DL Wiaston Jo P Yart WASHINGTON, D. $19,809,512 37,657,924 101,222,295 152,190,700 _ 196,145,636 1927 23,369,387 1,329,202 264,258,116 This record is all the more remarkable when it is remembered that ACACIA does not accept brokerage business, reinsurance business, group insurance or other wholesale insurance, All its insurance is written directly on selected risks. Rust, Jr, C.