Evening Star Newspaper, March 14, 1928, Page 13

al’ - EGGS ARE HIGHER | . IN'CENTER MARKET Dealers Expect Cheaper Hen- nery Product Before the Easter Season. A slight stiffening of the egg market the past two days is believed to have resul from slightly .decreased re- i a steady demand for the oduct. Dealers believe prices much higher, and that prevail before the | oliday season. | hiest possibility | e tlie approach- n.” commented a deal- and prices should put them within | dren sho contemplate egg- | s ofifrults and vegetables in rket this morning were sug- stive of the end of the Winter season. There were fairly large supplies of both 1 and veg les to be had, and reported s fairly reasonable. reased les of strawberries lorida growers proved unusual- 1y attractive. They have been scarce most of the season, but heavier receipts told a story of improved growing con- a. Prices of most com- were substant quoted yesterday. [ fowls, 5 keat: Dressed 3 6; roosters, 20a21: ca- eavy, 42a43: small, 30a35; | : keats, 80a90. 1 killed—Beef, 20a22; veal, 22a24; lamb, 28a30: fresh hams, 18al bl 18al shoulders smoked hams, 20a22: smoked shy 131:213; calves, 13al4; lambs, 13. Fruit and Vegetable Review. ‘Today's market Yegetables eport on fruits and d by the Market reau of Agricultural "kes up, Wine- mostly 9.00; boxes, ton, medium to large size, ex- ¥y Delicious, few sales, 5.00; ex- saps, 4.00; bushel bas- 4 mmercial Staymans, 213 up; Virginia, 2.75a3.00; U. S. No. 1, 21, inches up, Winesaps, 3.25. Cabbage—Supplies moderate, demand moderate, market pe, 3 few higher. Celery—Demand _moderate; market steady, Florida, 10-inch crates, 3;- « dozen. 3.00a3.25. 5 Lettace—Supplies moderate: demand moderate, market steady; California, crates, Iceberg type, 4-5-dozen: mostly gaozen. mostly around 3.25; few best, Ouions—Supplies moderate; demand moderate, market firm; Michigan and Ohlo, 100-pound sacks, Yellow U. S. No. 1, medium to large size, 4.75, few higher . Potatoes—Supplies of old stock lib- eral: demand moderate, market steady; gan, 150-pound sacks Russet is U. 8. No. 1, mostly around 4.25, few Jower: Pennsylvania and New York, 150-pound sacks round whites U. 8. No. 1. 4.00; Maine, 120-pound sacks Green Mountains U. 8. No. 1, 3.75. Spinach Is Steady. Spinach—Supplies moderate; demand moderate, market about steady; Texas, bushel baskets Savoy type, 1.00al.10, mostly around 1.00; South Carolin bushel baskets Savoy type, 75a85. Strawberries—Supplies light; demand Wederate, market TyS, holdovers fair quality and condition, 30a35, few low as 25 per quart; 32- Quart crates Missionarys, 35a40, few high as 45 per quart. ‘Tomatoes—Supplies light; demand moderate, market firm; repacked in New York City, unknown origin, threes ripes wrapped, fancy count, 4.50a5.00: choice count, 3.7 00; packed in Pittsburgh, unknown origin, sixes ripes ‘wrapped fancy count, 10.00a12.00; choice count, 9.50a11.00. Biring Beans—Supplies light: demand moderate, market stea Florida, hold- , overs, °;-bushel hampers, green, 3.50a 4.50; few higher, high as 5.00. Peppers, Squash, Eggplant and Cu- | cumbers—Supplies very light; too few | sales reported to quote, { Beets—Supplies light; demand mod- erate, market steady: Texas, bushel baskets, bunched, 225a250: Western, | lettuce crates, bunched, 325a3.50. | Carrot Demand Moderate. rrots—Supplies moderate; demand | rate, market steady; Texas, West- uce crates, bunched, 3.25. | ulifiower—Supplies moderate; de- | jd moderate, market steady; Cali-| a. pony crates, mostly 2.25. | moderate; demand | market slightly stronger; | icn, crates, 4.75a5.00, mostly 5.00; ornts, crates, 550 s moderate; demand 3 steady: Florida, medium size, 6.1527.00; best, iy 7.00; larger and smaller sizes | anted; California, boxes, medium | 6004650 few Higher, 6.25u6.5 d. g sizes discou s moderate; de- ket about steady; h 14 (®).—Finan- Treasury De- tions Lomorrow ‘The Treas- | be about $560,- stimated at $450, s a8 against | bute $80.000,- and Tress- 28 i 99/ AMERICAN EXPRESS CO | s fis LINES INDICATE PONTHL KGR ANDLOW PER BH Wht §s Buc .n}'x 1B THE EVENING STAR, WASHINGTO D. C, WEDNESDAY, MARCH 14, 1928. NEW YORK CURB MARKET - Received by Private Wire Following is the list of stocks and bonds traded in on the New York Curb Market tod: Sales in INDUSTRIALS, Hich., Acetol Prod A.. A e Steel ... Low, ) Cigar . BAmer Cyanamid B 43 # Amer Dopt_ Stores ADCCo N 3 o ptd mer Gas & Kl Gas . i &Lt pid 105 s t Am Po Am Sol & Ch vic Am S0 & C p pid 5 Amer Superpo A pbell Wyant. Marconi W s Pi 1 Dub o 131 onhoni il e e s bt P n 5 &L ontl W P&L 2 bt Al e restone Tire.. 1 T 7s ol. Forhan Co A. oundation ¥ . 7 Grand 'St 1 Greenf “Ta 1 Hall Lamp & Di PG raTa s i EIRASLE TR P yErade Food .. Ind Ray Cor A ur Co N A Interst D SESEaE B wi 1o istr e r Mead Johnson 1 Meadows Mfg elv Shoe 1 Met B & B0c St A 1Met 5 & 50c St B 1 Midvale Co 2 1_Pr 126 & En1ofd 3 Paraflip Co _ ... 10 3 Penn_Ohio Ed 7 35 Pen Oh E 65 pld #4135 33 Pen Oh Ed p pfd 1074 5 Pen Ohio Ed war 14 1 Penn Ohin Sec 3y Penn 8alt Peop PrugStore 2 Philin” Morris § Philip Morris A 5 Pierce Gov 3 Plegly Wizely % procter &, Gaiiy 1 1 A, R T 1Siiver T & Bros 3 Singer Mix . % Sinker ) Mig a4 21 Soueantn PAL - e Bacso o SESa23553, FERPRSE | ! [ 50 1V M Waregven 4 i Gold 50 STOUKS INDEPESDENT 011 | burg-American & net Direct to The Star Office 7 Carib Synd rv olumbia_Synd t_Peta 70 30 & 100T 10076 T Emp G&F 8 pf111%) 1111 11 4 Gibson 011 Cor.. 11 i 4 Gult Oil of Pa 0 Houston Gf_Gas 12 Intercontl ' Pel Leanard 19 1y 106 105% 10, 13% 18 15 7 Venezuelan Pet . 2% 0l n AND FOR- STOCKS 197 Sales i unit 700 Ang 00 Bucke 2100 Contl 100 Gal' 8 STANDARD 011 ISSUES MER SUBSIDIARIES— 70 Gal 8 0 nfd 600 Humble Ol & N 00T P T 4 100 Imp 0 Can 400 Ind P L vet L Trai Y Transit ) Northern P 1 500 Ohio 01t 300 Penn Mex Fiiel 600 Prairie O & @ P L d. . By. il 700 Vacuum " 011”010 Sales in BONDS. thousands. 3 Abbatt Daiy 2 I TAm Thread ¢ 30 Elungon Schil i 03 1001 1001 Blnter N G 68 ww 1 Interstate’ Pow o8 Interstate Pow s Invest C A 1 Faui & bs A BT Ay 58 A110% 110 S P 0 8 P M 6338 G170 Ohio Pow 41561 061} Osyexo Falls Bee 100 PaG&E di3s B 00% 3 G & En. . A Ww a0 > 5 10413 I 1 100 i o9 108% 1 oty 1 [N bt 031y ity Stores On. . Richtid OIL 08 ‘A 1 ) Ashektos oy Mfx 6y nd_Invest Ba N Y 615, 3 Wise Cent Bx Sales in i A ConBRGerdt # & Pr Y Bl B WILL BOOST DIVIDEND. BERLIN, March 14 (A.—The Ham Line report for 1927 shows @ net profit of 11,600,000 marks (approximately $2.980,000), from which a dividend of 8 per cent will be paid, as compared with the 6 per cent of 1026, The fleel increased from 924,000 gross tons to 1,051 882 tons, and further ex- tension 35 anticipated from capital about o be released from American custody REICHSBANK PROFIT. BERLIN, March 14 (4" —The annual report of the Reichshank for 1927 shows & gross profit of 140,000,000 marks and Profit of 26,000,000 marks (ap- proximately $6,000,000), Of the laiter amount 5,200,000 marks has been trans ferred o the reserve, 5,500,000 marks were turned over the Relch and 15,300,000 marks nsed puy & dividend of 12 per cent, as compured with the 10 per cent previous dividend RUBBER ADVANCES, NEW YORK, March 14 (Bpecial) Crude rubber, smoked ribbed sheets, ad- vanced 1, at today's noon quotation of 23’5 This compares with 32 & month wyo wnd 4174 8 year ngo, {looked upon as a further attcmpt on | 8rease basis; half-blood at 50a51, three- | having proved unavailing, this action w BULLS HOLD GRIP ON GURB EXCHANGE Marconi of Canada in Big De- mand—Recent Favorites Well Bought. BY WILLIAM F. HEFFERNAN. Special Dispatch to The NEW YORK, March 14.—Speculation for the rise continued excited in a num- ber of individual issues on the Curb Ex- change today, but the main body of stocks was not influenced in the man- ner it had been on previous occasions recently. Under a heavy demand, Marconi Co. of Canada_went’into new high ground above 5. The market for this issue was receiving stimulus from the spectacular Radio Corporation’s action on the Stock Exchange. Recently it was reported that both companies had entered an agreement toward the inauguration of a commercial radio system between the United States and Canada. There was further buying at highest prices in McKeesport Tin Plate, " in Marmon Motors at 40, in Bohn Alumi- num and Brass at 50 and in Checker Cab Manufacturing above 27. None of these prices represented sharp changes from previous closing quotations, but the demand was worthy of note. Declaration of only the regular quar- terly dividend on Bancitaly shares was the part of officials of the company to check unbridled speculation in the stock. Repeated warnings in the past as thought nec y at this time rather than declaring a substantial extra, in view of the fact -that much of the recent buying had been predi- cated on this prospect. Indiana Pipe Line featured the Standard Oils, while both independents and other Standards alike were little changed. Mining stocks were active at Hril‘vs practically the same as yester- ay. WOOL SALES LIMITED. BOSTON, March 14 (Special).—In- adequate stocks of spot wools limited sales on domestic sorts today in' the Boston wool market. Prices were firm, and the next cue in this direction will probably come from the London. sales | which are about to open. Fine terri- tory was quoted at 1.17a1.22 clean basis, French combing at 1.08al1.12, half-blood at 1.10a1.15, three-eighths blood at 1.00 21.05 and quarter-blood at 95 to 1.00. Fine ORhio fleeces were quoted at 49a51, eighths blood at 51a32 and quarter- blood at 52. NEW YORK MARKETS. NEW YORK, March 14 (#).—Rye, steady; No, 2 Western, 1327 f.o.b. New York and 131! cif. export. Other articles unchanged. NEW YORK, March 14 (#).—Stock- holders of Gardner Motor Co. Inc., have authorized a change in stock from RO par value to $5 a share, FEDERAL LAND BANK BONDS. {Quoted by Alex. Brown & Sons It Closing Rate—M atur May ) Yield 4.0 Nov. 185737 TREASURY CERTIFICATES, (Recoried by J. & W. Seligman & Co.) it s ~———Noor ate—Maturigy. a4 100w 15, 1928 15, 1938: 15 10 18, 15 15 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) 1932 1932 Orecon Short Purc Oil Carp, Sou. Pae R Std Ol of N © you of your curities If the: - Safe Deposit Box At the FEDERAL-AMERICAN NATIONAL BANK Where G Street Cro 14tn KEEP LOOKING YOUNG The secret of keeping young is to feel young. To do this you must wateh your liver and bowels. There's no need of hav- a sallow complexion—dark rings under your eyes—pimples a bilious look in your face~-dull eyes with no sparkle. Your doc- tor will tell you ninety per cent of wll sickness comes from tive howels and liver. Dr. Edwaeds, o well-known physician in Ohio, perfected a vegetable compound mived with olive oil as a substitute for calo- mel act on the liver and bowals, which he gave to his pa tients for years Dre. Kdwards' Olive dentle in their aetion, yet al- ways effective. They hring ahout that satural buoyaney which wll should enjoy by toning up the liver wnd clearing the system of impurities, Dr. Edwards’ Olive Tablets rie o ‘ablets are Commodity News YOUNGSTOWN, Ohio, March 14 (Special) .—Steel operations In the Ma- honing Valley this week are at the high- est point in 12 months. Plants are run- ning at 85 per cent of capacity, with 53 independent open hearths and 114 sheet units active. DETROIT.—Following a record break- ing February production, leaders in the automotive industry today declared pro- duction for the first quarter would rcach an amazing figure. Among the leaders, Ford is expected to turn out 60,000 units this month and Chevrolet 135,000, AKRON.—Tire factories here are op- erating at top speed to meet the orig- inal equipment demand and that from dealers. Some plants are operating at a record rate. CLEVELAND.—Facilities are being enlarged at the Cleveland union stock yards to handle the growing amount of stock coming in by motor truck. Fully 15 per cent of the animals now handled arrive in that manner, COTTON IN ADVANCE ON CENSUS REI"ORT Trading Tapers Off Later, but Price Holds Within 2 or 3 Points of the Best. By the Associated Press. NEW YORK, March 14.—The cotton market opened steady today at an ad- vance of 7 to 11 points, active months soon showing net gains of 12 to 15 points on trade and commission house buying and covering inspired by a bull- ish view of the Census Bureau report on supply and distribution for February. ‘This indicated consumption of 573,810 bales for the month, compared with 582,417 during January, and 580,513 during February, 1927. The figures were above expectations but were offset to some extent by prospects for rains in the Southwest by the volume of business taped off, although prices held within 2 or 3 points of the best at the end of the first hour. Private cables reported trade calling and Manchester buying In the Liverpool market, with increased inquiry for cot- ton cloth from India. New buying, stimulated by the bullish view of the domestic consumption fig- ures, tapered off on the advance to 18.86 for May, and the market eased under realizing or lquidation by early buyers, probably influenced by west Texas shower prospects and the failure of bullish statistics to create a more general demand. At midday May was sellihg around 18.71 and October 18.26, or at about yesterday's closing quota- tions. COTTON CONSUMPTION. Cotton consumed during February, the Census Bureau announced today, to- | taled 573,810 bales of lint and 56,153 bales of linters. compared with 582,417 of lint and 54.471 of linters in January this year and 589,513 of lint and 61,285 of linters in February last year. Extensions of the Port of Algiers, Al- geria, will add 284 to the present 222 acres. N . \\\\\ . known by their olive color, 8¢, Ye and 60, C. & 0-ERIE UNION DECISION IS NEAR 1. C. C. Action Is Expected to| Expedite Other Eastern "Consolidations. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, March 14—The Inter- state Commerce Commission decision in the Chesapeake & Ohio case, involving the absorption by that road of the Erie and effecting the linking of the Van Sweringen interests into one system, is expected within the mext week or 10 days. ‘Whether the ecommission approves the Erle merger or not, its report is ex- pected to expedite the negotiations now in progress for elimination of the pos- sible fifth trunk line as proposed by Leonor F. Loree, and the reallocation of the various loose-end railroads in Esstern_trunk territory. ‘The Loree fifth system already has been thrown into the discard to all in- tents and purposes, but many details remain to be settled before the Pennsyl- vania, the New York Central, the Baiti- more & Ohio and the Van Sweringen interests agree on which shall control lines like the Buffalo, Rochester and Pittsburgh, the Western Maryland, the Pittsburgh & Lake Erie and a dozen other carriers, Only Tentative Offer. It is known that the widely heralded tender of the chairmanship of the Nickel Plate board to Mr. Loree was a tentative offer. It is contingent on satisfactory solution of some of the problems outlined above. As develop- ments took place which made the elim- ination of the Loree fifth trunk line system more likely, the feeling grew among the interests most closely asso- ciated with the president of the Dela- ware & Hudson that he must be “taken care of.” The suggestion was made that the Van Sweringens were in a po- sition most readily to accomplish this. In other railroad circles, it is pointed out that Mr. Loree is over 70 years old and in view of his interests in pos- sible mergers among roads in which he is a leading figure in the South- west, he is unlikely to remain in active harness for the Nickel Plate for any extended period. The Interstate Commerce Commission decision is being awaited by railroad men, not because it is of such para- mount importance to the Chesapeake & Ohio, Pere Marquette, Erie and Nickel Plate, but because it is expected to have a strong effect on plans for other rail mergers. If the merger is not approved or if it is approved with so many strings attached as to make it unwieldy, it probably will put a quietus on many budding merger plans. All Firmly Controlled. Whether the merger is allowed or not, the fact remains that all the roads | involved are firmly controlled by the Van Sweringen brothers. They can be operated almost as efficiently under the Van Sweringen dlret!lon% if they were actually merged. The ain benefit which would be lost in case a merger = 13 WHEAT PRICE LOSES ON RAIN FORECASTS {Prospects of General Benefit to Winter Crop Have Bearish Effect on Values. EVERYMAN’S INVESTMENTS BY GEORGE T. AUGHES. _Era of Bond Retirements Passing. A problem that proved most difficult of solution to investors during the past year or 50 has been the finding of satis- | factory substitutes for bonds and pre- ferred stocks called for redemption. Retirements of this character have | been very heavy recently. It is estimated that in 1927 over 25 per cent of new bond issues were for | wh refunding purposes, many of them in- | deal volving the calling of outstanding obli- | from gations and replacing them with bonds | sized carrying a lower coupon rate. Some ! much needed corporations have retired preferred | openi stock with the proceeds of debenture | wheat u; bonds, saving a larger proportion of | Corn, o earnings fox_the common stock but causing distress to investors. | During all this time security buyers have given careful attention to | prices before making commitmen Non-callable stocks and bonds were | given the preference during this period. The chances are, however, that the era of bond and preferred stock retire- ments is drawing to a close. There will of course be scattered instances of re- | demption operations this year, as there always have been, but it is doubtful whether they will be on any such large scale. For one thing, interest rates are not likely to go much lower, and there | 5 is not the incentive on the part of cor- | ment moderate porations to continue refunding as they | Bliss triumph: have been doing. | 4.00 2 Bond prices. too, are apparently | Rose, 4 stabilized for the present. That being | pyshel the case, the investor need not concern | himself so much about call prices. F is now taking a much smaller re than at any time in post-war years, but that return ought not to go much lower. This does not apply to common stocks, but only to senior Stocks which represent the equ the business are by their very non-callable. Press. ch 14.—Forecasts of eater part of domestic T tory tended to ease values down today in the early Prospects of general benefit ad moisture were empha- wers this morning where n western Kansas. Alter decline to !4 advance vent a sag al around. and provisions were like- corn starting unchanged to y showing a gen- POTATOESV ARE WEAKER. CHICAGO. M: 14 (/P).—(United States Deg; culture) — Po 469 men car s, weaker; Wisconsin nd_whites, 2.15a2.25; Idaho ed russet Burbanks, No. 1, 2.5082.75; shade higher: commercial, ock demand and move- market strong; Florida in crates, No. 1, 3.758 3.50; Florida Spaulding No. 1, 13.00; No. 2, 11.00; SOFT COAL OUTPUT. NEW YORK, March 14 (#).—Produc- tion of soft coal in the United States for the week ended March 10 is esti- mated at 10,130,000 net tons by the Natlonal Coal Association. For the pre- vious week, the Bureau of Mines re- | ported 10,044,000 net tons. tons and present de blast furnaces, caused by in- itomotive schedules in that may exhaust stocks if opening gation is delayed. BUTTER IS LOWER. ¢ NEW YORK, March 14 (#).—General | Tire & Rubber Co. has declared an ini- tial quarterly dividend of 112 per cent on the new 6 per cent preferred stock, payable March 31, to holders of record March 20. The regular quarterly of 1% per cent on the 7 per cent preferred also | was authorized. Itching, Annoying Skin Irritations fy the financial structure of the various units. This, of course, is important, since the cost of financing has a direct bearing on the cost of operation and |as the quality of the service. | It is known that the coming annual report of the Erie will not present any | startling showing, but this is not in th least disturbing to those closely inter- |1 ested in the road. They know Erie has been paying some of its old obligations, clearing out deadwood, and laying the foundation for a substantial, health: prosperity. The road is in better phy cal condition that it has been for many 's denled would be the chance to simpli- ars. HIN W o\ PRRLRBENG Y BN THE AMERICAN OIL COMPANY Affilisted with PAN AMERICAN PETROLEUM & TRANSPORT COMPANY and its subsidiary MEXIGAN PETROLEUM CORPORATIO