Evening Star Newspaper, February 17, 1928, Page 13

THE EVENING STAR. WASHINGTON, D. €. FRIDAY, FEBRUARY 17, 1928 » 13 g BETTERMENT SEEN INLABOR WORLD Employment Situation in| Country Gradually Improv- | ing, Reports Disclose. | BY J. C. ROYLE. ®pecial Dispatch to The Star NEW YORK, February 17.—The em- aent situation throughout the | is. gradual toning. | divided as to whether was merely slightly | rger than normal at the end of the n or whether it was acute. no questic has been more and that | rial sections than usual to which new r-saving machinery has bheen lled in the last vear. During the modern manu v off his men but he c Iav off his machinery. Moreove: se of this machinery entai's tr plovment of skilled or to ‘a large extent. This has lessened the demand for unskilled labor the season when outdoor work is plentiful Building Programs Advanced. Improvement can be expected owing to the fact that the Winter in general ‘has been an open one and preparations for farm work and outdoor buiiding ms are further advanced than is usual at this time of the year. Much of the casual labor now gat the cities is being absorbed in pr tion for these plans. The businesses which prosperity are not partic sible for this oversupply of labor. Much of it comes from the fact that scores of thousands of bituminous coal miners are out of work and beca Jeum industry. the textile indu: some others have overproduced 2 burdened with large stocks. necessitat- ing curtailment of production. There ic a firmness in the steel mar- ket which gives excellent basis for a of production v maintained. b':ff: ness of second-quarter bookings. Buv- fng bv the automobile companiss has thown decided imorovement. Avute Industry Prosperi ‘The automobile concern: cases. are doing excellently One of the ckref factors in the industry undoubted- Iv has encountered production difficul- ties and has not been able to raise its outnut to the figure set in advance for this date Thic very fact has im- ved the business of some of the NRAV'S rival ‘The leading interest. ick tooay announced the unprece- ted net earnings of $235.104.826 for 7. #s maintaining an even higher pace than last vear. turning out around ‘.’;:flh cars a d in- have reached respon- in most | tion has been a disturbing factor among | the tire manufacturers, although they |are working at a splendid three-shift | rate to tl | the buying of Spring merchandise has | stockholders in May. Mr. Marland s in most cases. This applies only hose companies which ~misjudged the crude rubber trend, but according to reports from the tire centers, many stand to suffer losses on inventories. The underwear and stocking manu- facturcrs are reporting a slight im- provement. and in the apparel trade given general satisfaction Of far more importance than any congressional investigation of the soft coal industry is the consummation of merger of & number of the soft coal companies. The producers at ieast look largely to the necessity of help- inz themselves rather than obtaining anvy assistahce from Federal legislation. The oil industry is progressing slowly but surely toward normal. It is still, however. far from that goal i Tobaceo sales. especially of cigarettes. are cxpanding Steadily, but those sales | are being made at terriffic expense for ! promotion and advertising. The building situation has suffered | no setbacl In fact. the announce- | ments of big projects have been re- markably numerous. | Leather and hides remain high. with | s and steady demand fromj inues to rise steadily. | mand for Iuture re- | quirements. Little change was notice- able in the non-ferrous metals. Lumber | is picking up in anticipation of Spiing | demand. | Raw wool with a splendid Oklahoma Change in Name., PONCA CITY. —Impending retirement ¢ more officials of the Marland Oil Co. and for- mation of a Marland Production Co. | were announced here by E. W. Mar- land. president The new organization will be named the Marland Producing Co. and will carry on produ a maintained by the Marland Oil Co. of Texas. Oklahoma and Colcrado, the an- nouncement <a r. be resident of the new co 1 maintain headquarte; John H. Alcorn and J presidents. and treasurer. be not submitted for re-clect nual meeting of Marian Marland of Notes They will remain in Ponca Ci engage in business on th count. W. H. McFadden, first vice p and W. A J. M. Vandergra president in charge of rese: 'm the company se SAFEGUARDS DEPOSITS. Bill Before Congress Defines Duty of Reserve Banks. | reeident. | ice | peiled to protect viduals by filing surety bond: bill by Representative Hastings. Demo- crat. Okla. The bonds would represe: 25 per cent of the value of the indiv 80290 Meats fresh killed—Beef, 2022 | Florida type. 1.75a2.00: Texas, western lettuce | | crates about 5 | 100 peunds net. round sales, 3.40; Idaho, 110-pound sacks Rurals, U. 8. No. 1, 2.75a2.90. Spinach—Supplies liberal; demand light, market steady; Texas, bushel ba: kets Savoy type, mostly 1.25, few higher; | South Carolina, bushel baskets Suvoy FGGS DROPPOINT IN LOCAL MARKET 5o s, | Tomatoes—Supplies moderate; de- | mand moderate, market steady. Orlgl- Other Prices Remain Prac- tically Unchanged in Whole- ! nals: Florida, fair to ordinary quality and condition sixes, ripes and turning, sale Provisions. wrapped, fair quality, fancy count, 400a4.50; choice count, 3.50a4.0 poorer, fancy count, 3.50a4.00; choice count, 2.50a3.00. Repacked: Repacked in Baitimore, unknown origin, few sales sixes, ripes, wrapped, fancy count, 7.50; | repacked In New York City, unknown origin, generally fair quality and cond | tlon threes, ripe: wrapped. fancy count, | 2.50a2.55, mostly around 2.50: cholce | Sount. 2.002.25, mostly around 2.00. Sweet _potatoes—Supplies moderate: demand light. market dull; New Jerse: bushel hampers, _yellow: les direct to retailer: Carolina, bushel baskets, Porto Ricans. ordinary quality and condition, 1.40a 1.50. String beans—Supplies very light: de- mand moderate, market firm: Florida, -bushel hampers. green, 7.00a750. Spring | Peppers—Supplies moderate: demand : | moderate, market steady: Florida, pep- . old. |ver crates. fancy. 4.7 Eggplant — Supplies light: ic popper crates, ordinary condition, 1.50a 2.00. Squash and cucumbers—Supplies very light: too few sales reported to quote. Carrots—Supplies light: demand light. market steady: Texas, bushel baskets, bunched. 1.85a2.00; Western, lettuce crates, 2.5082 few hhigl'\;r. . 2 . | Beets—Supplies light: demand light, e tambs. alive. | parket dull: Texas. bushel baskits: bunched. mostly 250: Western lettuc | Eauiifiower —Supplies moderate:_d | aulifiower—Supplies moderate; de- slemand | mand light, market about steady: Call- . . . 1.75a1.90; fair qual " Staymans, 2 nchs | {OFTI8, pony crates, 115a1.90: falr q and condition. 8.00: | _Strawberries—Supplies very light: d inches up. Black TWIgS: | mand light. market firm: Florida. pony Washington, medium {0 | recfers, Missionarys. 7580 per quart. | .« — A one-point drop in quotations on eggs was the only notable change which developed in the local market today. nearly all other prices remaining about the same as they have been for the past few days. Slight drop of a point in fowl quotations was also reported. and the market generally indicated only a fair amount of trade. Today's wholesale prices: Butter— One-pound prints, 49a50; tub, 47a48: store packed, 32 Eggs—Fresh selected. 33234 35: current receipts. 32 Poultry. aliv chickens, 32a3 duck: 5 35. Dressed turk chickens, 33a35: fowl: capor ucks, 25a. hennery 782l lamb 19; 23a26: fresh ham: fresh shoulder! 0a smoked shoulder: loins., Fruits and Vegetabies. Apples—Supplies moderate: modarate, market steady: barrels. Vir- ginia, U. S. No. Winesap: Romes 3.75: Romes. 3.00: bushel baskets, Virginia.| Mrs. Ed Jackson abandoned a career u. » inches up. delictous. | of religious educational work to become air color ;e U. 8. ths wife of Indiana’s Governor. No. 1, Stavmans and Black Twigs, 2% | inch Cabbage—Supplics moderate: demand | moderate, market steady: new stock: 11,-bushel hampers. pointed | 0 pounds net. round type, approximately pe. 2.75a3.01 old stock, Ne York, sacked. per hundredweight, Danish | type. 1.00. | Celery—Supplies moderate: demand moderate. market steady: Florida, 10- | ates. 3-4 dozen. 2.7523.00: best. a3.00; smaller sizes low as | barrel crates 3.00 Lettuce — Supplies liberal; demand | moderate. market firm: California. | crates Iceberg type. 4-5 dozen. 3.00a | 3.25. mosily 3.00 | Onions—Supplies moderate: demand moderate, market steady: Ohio and In- diana, mostly Ohio, 100-pound sac! vellows, U. §. No. 1, medium to large size. 300 | Potatoes—Supplies moderate; demand | moderate, market steady: Michigan. | 150-pound sacks Russet Rurals. U S. | No. 1. 3.35a3.3 a, 150-pound sacks Round Whites, Florida. | Insurance in Force (net) An Increase of $231,500,000 NEW ORLEANS, February 17 (Spe- clal).—Reports to the Southern Pine Association covering the last week show an Increase of 11.6 per cent in mnew business to a total of 48,178,000 feet. shipments dropped 7 per cent to 43.- 589,000 feet and production increased 2.7 per cent to 48,980,000 feet, Unfilled orders totaled 163,955,000 feet. CHICAGO.—Cold_storage supplies of butter decreased sharply in the last month, but still are much larger than a year ago. Present holdings are 28,- 206,000 pounds, as compared with 46.- 289,000 pounds in January and 17,952,- 1 | 000 on February 1, 1927. PORTLAND, Oreg.—Owing to the high cost of beef the public is buying poultry in heavy volume in this section. Retailers declare that chicken dinners are no longer confined to Sunday and holidays. SAN FRANCISCO.—Cattle prices have remained steady in California in the last week, according to the West Coast Marketing Association. Fat cat- tle supplies in the Pacific Southwest are ample. YOUNGSTOWN, Ohio.—Firmer price: are being maintained on stecl produs |in this district, with better buying ap- parent for the moter industry. Prices | being quoted for second-quarter delivery are 2.90 cents a pound for black sheets and 4.14 cents a pound for high finished | stock. s GROSS EARNINGS LESS. | BALTIMORE, February 17 (Spe cial.) —Estimates as to Western Mary: land Railway's gross earnings in the | first week of February continue to show a decrease, compared with the same perfod last year. which was an ex- ceptionally active time in soft coal shipment. Yet the percentage decline indicates that carnings are picking up week by week. During the week end- ed February 7 gross operating revenues | are estimated at $379.875. a decline of {15 per cent under the 1927 period |Such earnings declined 21 per cent from January 1 to February 7. totaling $1.956.438, compared with $2486,031 in the corresponding period a year ago. 192% l: Without restriction or reservation Chnice cf every Suit, Topcoat and Overcoat remain- ing cf the present season’s stock—regardless of former prices: . Fashion Park Richard Austin Charter Hous Mode e 29 Ccncededly the finest clothing made—and reduced now for clearance—and doubly reduced to accomplish it completely and quickly. Onl ed—Alte Full Dress exemp Furnishing a “bargain time” in Furnishings Shirts Fancy collar attached or separate collar to 1‘39 match. Were $2. 3 for 34 $2.50. $3 Fine Imported Madras, etc. or separate match 32‘29 Were $3.50, 34 and 3 for $6.50 $4.50 Imported White English Brosdcloth; neck- $1.89 band and coller attached; were $2.50 3 for $5.50 Finest grade Cocoon Broad- coth; collar at- 33 15 tached and neck band. White only. 3 for $9.00 crepes, $5.79 3 for $16.99 Silks, $1.00 Cut $1.50, $2.00 » Cut Silks Finest of Cut Silke. $3.00, §3 $4.00 : Silk Shirts, ete. Separate lare. Were 8875 and $16 Bath Blanket Terry Clath $5 and $7.50 ket Rubes $9, 310 and 312 Mercerized and import Flannel Roh Were 315, 31 and $20 Full Silk - hi Fancy Flannel, Street Vests o ek .95 Dress Vests White Pigue; & little eoiled Robes. Were e $2.29 $30 and 3§35 # 1o $10 The Mcde from Were Choice Neckwear Cut and Knitted the Were .50 and Underwear Bode Madras Ath- letiy Union Suits that werd, $1.50, now Were Lot of fine Blan- W, Mufflers Black and White and with embroid- ered spots. Were $3, $3.50 and $5.... Rayons, 49c $1.89 3 for $1.25 nd $2.50 89 c 3 for 8225 Knitted and §1.59 3 for $4.50 Silks Hose Wool and Silk and Wool. Were $1 ' 59¢ 119 3 for $3.00 $1.79 3 for $5.00 Golf Hose Choice of $3 and $l.95 Che ot 4450 §9.05 54.95 and 85 Choice of $7, 38 and $10 Pajamas Plain shade Were §2 51.55 3 for $4.50 $1.79 Wool and Silk and Wanl. Were $1.50 and §2 : and Silk Were Wool and Wool. $2.50, 3, $3.50 89c 3 for $2.50 Robes $3.95 $6.95 Blanket, ed e 6.50 and . Rayon Broadcloth; in $10.95 F at Eleventh ned $25, New Insurance Paid For An Increase of $62,518,000 Total Income An Increase of $23,801,000 Payments to Policyholders,and Beneficiaries Total Payments Since Organiza- tion Assets at December 31, 1927 An Increase of $56,054,000 Total Liabilities (including Paid up Capital) Surplus and Contingency Funds An Increase of $12,769,000 Rate cf Interest Eamed on mean invested ‘assets (net) - - - - e - - - - - - FOOD STORAGE TOTALS. Holdings February 1 and Year Ago Compared. Smaller storage holdings of poultry, lard are reported by the Bureau of Agricultural Economics, United Blnws' Department of Agriculture. 376,000 pounds on February 1. 1926 case eggs at 25 000 cases a year ago, and American| cheese, 41,693,000 pounds, against 46,- 026,000 pounds. | There were 1.254,000 barrels of apples in store on February 1 this year as against 3.178,000 barrels last Pebruary, | and 9.806,00 boxes, compared with 10.- 435000 boxes. Holdings of 2,321.000 bushel baskets of apples are reported for February 1 against 2,037,000 bushels last February. Total stocks of creamerv butter Feb- ruary 1 are placed at 28,296,000 pounds. against 17.952,000 pounds last year; meats, 794,319,000 pounds, against 750.- | 563.000 pounds. and lard. 83,780,000 pounds, against 69,576,000 pounds. | CEMENT IMPORTS SMALL. U. S. Industry Need Not Fear Competition, Belgian Envoy Says. The Belgian embassy in a statemen® yesterday declared the amount of cement imported into the United States from Belgium and other foreign coun- trics was too small to jeopardize the in- dustry in this country. | The statement, issued, it was said. in | response to recently published charges that the American cement industry was | belng threatened by foreign importa- | tion, pointed out that cement imported by the United States in 1927 amounted to less than 11 per cent of that pro- duced in this country. The United s added, exported about the quentity of the product as it $ 487.990,000 328,408,000 102,774,000 42,224,000 300,040,000 401,305,000 343,525,000 57,780,000 6.47 % To secure the absolute protection of its policyholders in the United States the company actually maintains on deposit with United States Trustees approved securities in excess of its net liability to American policyholders. ‘Policies written and payable in United States currency. Dividends to Policyholders increased for eighth succssive year. TOTAL INVESTMENTS IN UNITED STATES SECURITIES EXCEED $168,000,000 EXTRACTS FROM DIRECTORS' REPORT Substantial advances have been made in all departments during the year. The total net income for the year exceeded one hundred million dollars The strength and resources of the Company have been further enhanced The high earning power of the Company's investments has been again demonstrated. The net rate of interest earned on the mean invested assets, after fully providing for in- westment expenses, was 6.47 per cent. This sgratifying result has been made possible by dividend increases, bonuses and stock priv leges accruing on many of the Company's holdings. The wisdom of the investment policy which has been consistently followed in past years, in favouring long term bonds and the stocks of outstanding and very carefully selected cor- yrations, has been once more emphasized. he appraisal of our securities shows that the excess of market values over cost increased during the vear by $19,235,889.99. In addi- tion, a net profit of $5,028,033.20 accrued from s risen mon of pu Th appro to wh pany's properties. to high premiums. stoc rchase, e surplus earned during the year a spriations have been made: _provide for unforeseen ich now stands at $12,500,000. Head Oftice building and COMPANY WOULD EXPAND Potomac-Edison Asks Permit to BALTIMORE, ' February eggs, cheese and apples February 1 com- | clal).—Public hcarings on the applica- | pared with February 1 a year ago, and | tion of the Potomac-Edison Power Co. increased supplies of butter, meats and to absorb four smaller companies in t a s ach of the hearings, according to| Total stocks of poultry are placed at| ihe commission's. ordet, b 117,972,000 pounds, compared with 145.- | rate, but little opposition is expected in any, 000 cases, against 253.- | completed in less than an hour. The first is the application for an | orde | capi the redemption or sale of securities which had The quality of the investments listed in the assets is testified by the fact that on both bonds and preferred stocks not one dollar, due either as interest or dividend, is in arrear for even one day, while the dividends accruing to ¢ are greatly in excess of the di dends payable on the same stocks at the time unted to $38,511,029.67, from which the following $5,000,000 has been deducted from the market value of our securities as a further provision against possible future fluctua- tions, increasing the amount so set aside to $10,000,000, $1.500,000 has been added to the account contingencies, $1,000,000 has been written off the Com- other m- Power Co. and the Piedmont Eiectrie ,» Light & Power Co. Py ‘The second application asks permis= sion to acquire the Potomac Light & Pover Co., and the third asks an order authorizing the transfer to the Puto- mac-Edison of ali the franchises. works anc system of the Clearspring Electric Light & Power Co. Absorb Four Concerns. 17 (Spe-| LABOR SLUMP IN ILLINOIS. CHICAGO, February 17 (Special).— {Employment in Illinois is down to a lower level than at any time since the 1921 siump. There was a further drop {0f 2.1 per cent in January in the num- | ber of workers, but improvement is ex | pected this month. crn Maryland are to be held Febru- 24 by the Public Service Commis- is to be sepa- and the four are expected to be 000 woman physicians in ates r authorizing the acquisition of the | There are tal stock of the Ridgeley Light &' the United The Arogonne SIXTEENTH and COLUMBIA ROAD NORTHWEST me of the apartment the most We submit for your consider important features connected wi building which have enabled us tc exacting homeseekers. 1. Location in residential hub of N.W. 2. Convenient to bus and car lines. 3. Large, modern, fireproof building. 4. Spacious light and airy rooms. Apartments freshly decorated vearly. Rentals moderate and reasonable. Service prompt, quiet and courteous. Garages and servant accommodations. 9. Continuous phone and elevator service. Before deciding upon a home come in and make The Argonme $300.000 has been set the greater longevity of ing the total provision unde: $2,000,000. $50.000 has been set aside to provide for claims in respect of total disability as yet unreported. g $11,000,056.61 has bee: as profits to policy holders ng the year. In addition, $6.203.873.00 has been “con: tingently allotted to deferred dividend poli- cies issued prior to 1911, and to five vear distribution policies, to provide pro accrued but not vet pavable, . After making these deductions and alloca- tions, $11,260.330.89 has been added to the undivided surplus, bringing the total over all Labilities, contingency accoy al stock to $43.280.800 14 Your Directars are gratified to anno the eighth successive yea crease in the scale of profts to be to participating policvholders d suing vear, paid or allotted t and cap SUN LIFE ASSURANC COMPANY OF CANAD A. D. CARPENTER, Manager Transportation Bldg. Washington, D.