Evening Star Newspaper, March 13, 1928, Page 12

¢ THE EVE 12 UTILITES GROWTH gas exceeds 500,000,000,000 cubic feet | projects in Louisiana will require $50, | 000,000 or more. Taken in-conjunc- | A tion with the amount to be spent in the electrical field, this financing is Experts Th'nk Federal Trade of supreme importance to fltlhe( wh‘nllr : Nation. The programs will furnish | Probe Will Be Out of Date | work for hurdrets of thousands of men. | They will mean additional employment | When Finished. | in the conl mines. Steel, fron and the nonferrous metals will be in increased | demand in connection with new dams. - ] 'S t JEST 8. e o e | _The local wholesale market i ! PHILLIPS PETflbLEUM co. slow today. The only change a year. i | Developements this year in the gas| g industry will also require a tremendous | W U amount of new financing. The new | Lower. BY J. C. ROYLE. Special Dispatch to The Star NEW YORK. March 13.— eral Trade Commission today is devot- ing every possible effort toward prompt conclusion of its investigation of public util Utility experts and engineers. however, feel that any report the com- | was a drop in live fowls. Some market men ascribed others stated that they had NEW YORK, March 13 (/).—Earn-|that the year before election Quotations today were: 1927 are placed at $4.837.931 in the Butter—One-pound prints, mission may make will serve only o annual report, sent to stockholders ves- ' yub, 50a51; store packed, 30. show the tremendous growth of the ter This was equivalent to $2.06| “gggs Fresh selected, 28; utilities. per share, As against $8.80 per share |og: current receipts, 27. Bv the time the commission could in 1926. The company's carned sur-(* poultry, alive—Turkeys, gain an adequate idea of the financial | plus on December 31, 1927, was $28,- pring chickens, 5 side of the companics, the utility finan- | 235000, oosters, 17a18; ducks, ¥ that the report would be hope- |~ Overproduction of crude oil, which |voung, 70a75; old, 35. out of date. None the less. the | resulted in a price depression that ex-keys, 38a45; survey will be watched with widespread | tended to gasoline, was an important | fouls, = large, ‘nterest. since the public ut cor- factor in the decline of earnings, the |yoodt morations now have so many security |report stated. Average sales prices | 4q4: holders that hundreds of thousands were reduced .857 cents per barrel for | keats, have a direct monetary interest oil and .0319 cents per gallon for gaso- | Production Gains Greatly. line, the statement added. “?-\‘ The production of electricity { Lo grown 30 per cent in the last 20 vears The output is now at the rate of over 80,000,000.000 kilowatt hours. More- over, that amount is being furnished ! at a price but a little more than half as much per kilowatt hour as was the 28a30; small small, ducks, 80a90. 30a35; — — 18a19; fresh COAL INDUSTRY. 11213a13; calves, alive, 8al4. NEW YORK, March 13 (#).—Demand | for bituminous coal in February fell| short of ctations and the price | situation, taking the country as a whole, | vegetables, has compiled by the E lines from gas fleld to industrial centers. 1 | Consumption of natural gas now is run- | ning at the rate of 400,000,000,000 cubic | | feet a year. while sale of manufactured Lenten Season Felt—Live Fowl Quotations Are o{"&tntms—suppuw of old stock lib- EARNINGS HAVE SLUMP gich trade to the Lenten season, while ings of the Phillips Petroleum Co. in!invariably marked by a slow market. 35a38; fowls, 24a25; Dressed—Tur- Spring chickens, s, 20a21; capons, fancy, heavy, Meats, fresh killed—Beef, 20a22; veal, 24; lamb, 28a30; fresh hams, 18al19; 3 shoulders, |smoked hams, 20a22: smoked shoulders, Fruit and Vegetable Review. ‘Today's market report on fruits, and NING STAR. WASHINGTON, D. C. TUESDAY. MARCH 15. 1923 PITTSBURGH COAL CO. | SCANDRETT OPTIMISTIC. REPORTS 31,880596 Loss Milwaukee Head Says Hopeful | | Decline of $8,020,544 in Surplus| T""; s R N AN o — promne. | NEW YORK, March 13 (P.—H. A conunts Siko) STum==Eroine. || ssiitise preduieatllo i clifiaehl | tion of Firm Shows Large | Milwaukee, St. Paul & Pacific, return- ‘n)’ the Associated Press. | Ing to Chicago from a trip over the PITTSBURGH, March 13.—The | lines between that city and Puget Piltsburgh Coal Co., one of the largest | Sound, says a hopeful business feeling producers of bituminous coal in this| prevails throughout the Northwest and territory, showed a net loss of $1,880,596 | Pacific Coast. in 1927, compared with a net loss of | Present sofl conditions are favorable $2.114.676 In 1926, according to the an- | for good crops. Lumber interests say |and 69,262 in February of last year. nual report, volume of business i3 satisfactory, fll‘mm!d‘suTntyl;sr‘rp?”g?,lm nhr;wnd a flrrtllx;n n('vhnuzn prices are not. Hundreds of | : n 020,544 in the surplus account, leav- | tractors are being shipped to all points | | moderate, market steady: Mexico, |ing $63,051.231 in this account at the | in South Dakota and. Montana.”indi- | tes, 4.50a4.75; California, crates, | end of 1021. cating the breaking up of much new 5 Much of the decline in surplus in|ground and a material increase | _Oranges—Supplies limited; demand | 1927, officers of the company said, was acreage this season. ket and buyers were turning more tn mostly around 1.00; South Carolina, | Moderate, market steady: Florida, boxes, | accounted for by the difference belween |~ The road will buy 50.000 tons of new | fareign sorte. 1o o requirements. Ar- Y aound ;s | mediu ,h.;;"fil;_so?;.mr:“l;‘rflge;:\r{‘:m;lrl‘-}!’l‘;l-'myanr natue and the selling price of | steel ralls this year and will contract rivals of Arizona wools have been fnl- P S | ver,; 3 - 18,3 shares of common stoc] aken ab el Cars. " » t Zost jers Strawberries—Supplies liberal: | dium size, 6.0086.25: large sizes lower. |from the treasury during the year ana o8 'mm.,‘,'m? m.m,“ b ];.’:-T ,%0{32" Z‘r,":',:';, 'm'l:'.?nd?r'»" mand moderate, market steady: .| Grapefrult—Supplies limited: demand | €old because the concern needed money | Soaee I parchaces of meb i pony refrigerators and 32-quart crates, | moderate, market steady; Florida, boxes, | for_general corporate expenses, Other | BUILDING LIGHTER. Sround 56s80. Pine territory wes Misslonarys, 30a35; best, mostly 35, few | medium size, 5.50. | dreline in surplus. it was sald. came| NEW YORK, March 13 (F),—Con- | quoted at 1.17a1.22 clean basis, Frencs tracts let on new construction work in | combing at 1.08a1.12, haif blood at 1.10 and | the 37 Siates east of the Rocky Moun- | al.15, three-eithths blood at 1.00a1.05 light, market steady; Indlana, hothouse stock, 2-dozen crates, extra fancy, 3.50; double extra fancy, 4.00. Peppers—Supplies light: demand moderate, market steady; Florida, pep- per crates, fancy, 4.50a5.00; Mexico, pepper crates, fancy, 4.50. | Beets—Supplics light; demand mod- srate, market slightly stronger; Texas, moderate, market firm; Michigan and | bushel baskets, bunches, 2.25a2.50; Ohio, 100-pound sacks, yellows, U. S.|Western lettuce crates, bunched, 3.25a No. 1, medium to large size, 4.50a4.75. | 3.50. mostly 4.75;: Massachusetts, 100-pound | _Catrots—Supplies moderate; demand ' sacks, yellows, U. 8. No. 1, small size, | moderate, market steady; Texas, bushel baskets, bunched, 2.25; Western lettuce crates, bunched, 3.25; few higher. Cauliffower—Supplies moderate; de- mand moderate, market slightly weaker; California, pony crates, 2.15a2.25; most-~ ly 2.25. Peas—Supplies crates, 6-8 dozen, 3.25a3.50; 3-4 dozen, 3.00a3.25. Lettuce—Supplles modetate: demand moderate, market steady; California, crates, Iceberg type, 4-5 dozen, 3.00a 3.25; few best, 3.50, mostly 3.26. Onions Are Firm. Onlons—Supplies moderate: demand COFPER OUTPUT UP. NEW YORK, March 13 (®.—Pro- duction of refined copper i Nortn and South America in'Pebruary was 124,848 tons, against 122,723 in January and 122,673 In Pebruary, 1927, the Ameri- can Bureau of Metal Statistics reports. February shipments were 134,493 tons, 1 against 121545 in January. Stocks on hafid at the end of February were 86,- 932 tons, against 96,476 the month be- fore. Primary copper production of United States mines in February was 76,423 tons, against 68469 in January eral; demand moderate, market steady: Michigan, 150-pound sacks Russet Ru- rals, U. 8. No. 1, mostly around 4.25: Pennsylvania, 150-pound sacks, round whites, U. 8. No. 1, mostly around 4.00, few low as 3.90. Spinach—Supplies moderate; demand moderate, market about steady: Tes | bushel baskels, Savoy type, 1.00a1.10,| WOOLS ARE QUIET. BOSTON, March 12 (Special).—Do- mestic flecce and territory wools were in!quiet today in the Boston Wool Mar. contiued moderate; in prices the slug- observed year was 52a5215; hennery, 37a40; 26; keats, 35a40; 25a26; . 27a28; best high as 50 per quart. e | - - | through the scrapping of obsolete c . Se.| GENERAL V. | tax mand moderate, market steady; BAKING DIVIDEND. | taxes. " talns the past week amounted to $112,- | and quarter “lood at 35a1.00. NEW YORK, March 13 (P).—General The - origln, fair quality, fancy count, 4.25a | Baking Corporation today declared an | e f;nh';«"m compared With 5.042.501 | from the total for the week before, the | basis, half biood at 50a51, thres-eighths 4.50; cholce count, 3.7524.00, 108s, 3.50. | 3 W. Dodge Corporation reports. The | blood at 51252, and quarter blood at 52 moderate, market steady: Florida, 7~ (Share on the preferred stock, payable mine on a non-union basis and several | op.¥; " M0 O 18, bushel namp;rs, green. 40006.00; best | April 2 to holders of record March 20.|0f its officers have appeared before | 467 500, shows ngélf.x'l’:?ugctglga;: csom'-; mostly 6.00; few poor quality and con- | This is the first dividend paid since * pared with the first three months last. NEW YORK, March 13 (Special).— dition, 2.50a3.00. [C] a0 AP a6k by GReN AT el for o | 5'3}2%55 now investigating the coal n- | pait® gyt 108 Birst contemplated in | Cotton goods markets were quiet again market steady: Florida, bushel crates, {share of preferred and one-half share | — e | hydro-electric power plant to be built cloths were quoted at 7', for 64x60s fancy, vellow, 4.50; few higher. {of comman and the “B" stock for one i Amarsuptal is a creature that carries | by Consumers' Power Co. near Morley ' and at 8!, for 63x725. Raw silks were | 0. Tomatoes—Supplies moderate; | plants, depletion adjustments re- packed in New York City, unknown, The company's 1927 production was 426700, a drop of nearly $30,000,000Ohlo fleeces were quoted at 49a51 gr String beans—Supplies light; demand | itlal quarterly dividend of $1.25 a gh Oval Co. operates fts | g’any average of contracts from Janu- ¥ COTTON GOODS STEADY | the Senate interstate commerce com- | 1l Squash—sSupplies light; demand light, | the week ended March 9 was for @ coday, with prices unchanged. Print 2al3; Cucumbers—Supplies light: demand | <hare of common. voung in a pouch. Mich., at a ¢ of $12,001 unchanged in a qui Market case in 1900. Electric power consump- tion today is over 10 per cent heavier than at this time last year. Prices have shown reductions in some scat- | tered localities, but costs of electric power production have lessened, owing to the cheaper prices for coal and and increased mechanical and w efficiency. Consolidations and interconnections hav: enabled some concerns to lower expenses and assure a_more even dis- tribution of power. This angle un- doubtedly will be the subject of con- siderable attention by the Federal Trade Commission, but the men connected with the industry point out that at present no company or group of com- panies controls more than 11 per cent of the output of currency. On the other hand, companies have not ceased to supplement steam plants with hydro- | electric units and vice versa, in order | 10 assure continuous power from their | own sources. | ‘The expansions and improvements | have called for huge outlays, and these programs with attendant financing to pay for them will be a distinct feature of the present business year. For months, public utility issues have been ily snapped up by investors. When questioned about the danger of over capitalization, however, utility execu- | tives point out that net capital assets of the companies of this country today are over $1,500,000,000 higher than net capital liabilities. A tremendous vol- ‘ume of utility securities are held by em- ployes and customers of the companies. such holdings amounting to well over | Gas Output Keeping Pace. rate of gas production, both na- and artificlal, is keeping pace with electric power improvement. Mil- lions of dollars will be spent this year in building and extending natural gas PIERCE “THE MOST BEAUTIFUL CAR I HAVE EVER SEEN!” ONSIEUR SAOUTCHIK, whose comment on the new Pierce-Arrow is quoted above, is one of the world’s most fa- mous custom-body builders. He has built special bodies for the Vati- can, the King of Norway, the King of Spain, and other notables of furope and America. His creations are found almost exclusively among the best known and most expensive European cars, such as Hispano-Suiza, lsotta Fraschini, Mercedes and Minerva, The new Pierce-Arrow is offered in fifteen custom-built body styles with strikingly new lines and exquisite color combinations. underwent little change, Coal Age re- | ports. The welghted average spot price for the month was $1.85% per | ton f.0.b. mines, against $1.8415 in Janu- | ary. At the present time the non- unfon mines are furnishing about 77 per cent of the output and the tonnage could be increased materially if demand for it could be found. PRICES ON PARIS BOURSE. PARIS, March 13 (#).—Prices moved irregularly on the Bourse today. Three | per cent rentes, 68 francs 5 centimes: | 5 per cent loan, 88 francs 42 centimes:; | exchange on London, 124 francs 2 cen- | times. The dollar was quoted at 25 francs 42 centimes. 3 g——— om?ux.s RE-ELECTED. GALVESTON. Tex., March 13 (#).— Officers and directors of the Gulf, Colo- rado & Santa Fe Railway were re- clected at the annual meeting of the company at its headquarters here yes- | terday. W. B. Storey, Chicago, is presi- dent and F. G. Pettibone, Galveston, | vice president. RUBBER DECLINES. NEW YORK, March 13 (Special).— | Crude rubber, smoked ribbed sheets, | declined 134 cents at today’s noon quo- | tation of 23 cents. This compares with | 3433 cents a month ago and 41'; cents a year ago. | NEW YORK MARKETS, | NEW YORK, March 13 (#).—Rye! firm; No. 2 Western, 1.023; fob. New | York and 1.31 cif. export. Lard firm; Middlewest, 11.60a11.70. Tallow strong: special loose, Bly; extra, B8l:; other articles unchanged. | from twenty-nine hundred dollars—at Buffalo, ’ v v You may purchase a Pierce-Arrow out of income if you prefer. makes this @ mest practical procedure, “Pierce-Arrow Prestige Pierce-Arrow Perfection” DAVID S. HENDRICK 1141 Con amount of its appraisal valuation Justified by n. Ave, Fri Your present car accepted as cash up w0 the full News Service Bureau of Agricultural Economics, says: Apples—Supplies moderate; demand moderate, market steady. Barrels: Vir- ginia, U. 8. No. 1, 2'; inches up, Wine- saps, 9.0029.50, mostly 9.00. Boxes: Washington medium to large size extra fancy Delicious, few sales 5.00; extra fancy Winesaps, 4.00. Bushel baskets: Virginia, U. S. No. 1, 215 inches up, Staymans, 3.25: unclassified Staymans, 2% inches up, 3.00. Cabbage—Supplies moderate: demand moderate, market steady. New stock: Florida, 1'2-bushel hampers, pointed type, 2.00a2.25: Texas, bulk, per ton, round type, 70.00, few higher; barrel rates round type, 3.50, few higher. Old stock; New York, sacked, per hun- dredweight. Danish type, 1. Celery—Supplies light; demand mod- erate, market steady; Florida, 10-inch Never Neglect PIL Per box 60c st all’ draguivte FREE "&99%.20* it you write direct to us. Semt n plain wrapper. Address PYRAMID DRUG COMPANY 49 Prramid Bidg, Marshall, Mickigen Prices A simplified financing plan inklin 4541 Service Station, Omtario Gavage, 1700 Kalorama R, NOW it costs so little to i BEEBY =, umngy, Silent Automatic’s modern principles of design, manufacture and selling have brought domestic oil heating to a common sense cost basis... Yesterday, oil heating was a costly luxury. Today it is a source of con- venience, comfort and peace of mind in thousands of average homes and enjoyed by people of average income. A most important factor in creating this new-day condition has been the Silent Automatic. The price is revo- lutionary when compared with the prices of other good oil burners. Yet it was not achieved by revolu- tionary methods. The “Silent” was built especially to fit the 22,000,000 heating plants now in operation in this country. Thus the “Silent” is actually built to operate Your present heating plant: All these heating plants were orig- inally designed to operate with a gaseous flame—applied to the base of all the heat-absorbing surfaces. And the “Silent” was designed to Made in Detroit Listed as standard by Undemuriters’ Laboratories W. I GROVE, President produce from oil, exactly this flame, and to apply it in exactly this fashion. This assured a degree of hecating cfficiency new to the whole oil burner industry. But more than this, the “Silent” was designed to produce this flame soundlessly. This silence was a new feature in oil burners, and has never been equaled. The design of this burner is so sur- prisingly simple and sturdy in con- struction, that it provides absolute dependability. It is built to outlast the house it heats! Mass production with constant tests for mechanical precision makes possible a rare degree of per- fection. Volume sales, direct to dealers, climinates distribution costs and brings the selling price down to a common sense basis. There is only one “Silent” And the swift dominance of Silent Automatic is the result of all these cconomic factors. For Silent Automatic set a new standard of heating efficiency for the whole industry— —it is so silent that it cannot be heard in a room directly above your heating plant— —and it sells for the lowest price in history for a burner of its proved design, national acceptance and ca- pacity to heat any home. That is why we say—"Now it costs so little to enjoy oil heating.” For this price is revolutionary among other good oil burners. : Before you buy a ton of coal, visit our display room. See the Silent Automatic in operation there. Hear the simple reasons why it has won the indorsement of thousands. Ask about the convenient terms. UTOMATIC THE NOISELESS OIL BURNER Prospective purchasers in this community will be interested to know that the Silent Automatic Corporation is one of the strongest financial organizations in the oil burner industry, No “Silent” will ever become an “orphan”, ), WARNICK, Sales Manager See the Gold Medal Silent Automatic in actual operation at the Washington Chamber of Commerce Industrial Exposition W. W, GROVE, Secretary SILENT AUTOMATIC CORPORATION OF WASHI y 1214 New York Ave. N.W, Phone Main 2014.2018 MENBERS OF MERCHANTE® & MANUFACTURERS' AS'R